Key Insights
Essential data points from our research
The global jewelry market was valued at approximately $340 billion in 2023
The global diamond jewelry market is projected to reach $123.8 billion by 2030
The U.S. jewelry market generated over $77 billion in revenue in 2023
Online jewelry sales in the U.S. made up 20.5% of total jewelry sales in 2023
The top three countries in jewelry exports are India, China, and the United States
India exported $31 billion worth of gems and jewelry in fiscal year 2023
The global costume jewelry market is expected to reach $59.7 billion by 2027
The U.S. wedding and engagement rings market size was valued at $61.6 billion in 2022
Millennials account for 41% of all diamond purchases globally
Lab-grown diamonds experienced a 38% increase in sales in 2023
The average engagement ring cost in the U.S. in 2023 was $5,500
China's jewelry market is expected to exceed 900 billion yuan ($125.4 billion) by 2025
The gold jewelry market was valued at $228 billion in 2022
Consumer Behavior and Preferences
- Millennials account for 41% of all diamond purchases globally
- The average engagement ring cost in the U.S. in 2023 was $5,500
- Asia accounts for over 60% of global gold jewelry demand
- Over 80% of jewelry is sold through specialty jewelers and department stores
- Female consumers make up nearly 67% of jewelry purchases
- Sustainable and ethical jewelry accounted for 20% of online jewelry searches in 2023
- The average American household spends $615 per year on jewelry
- Jewelry was the most gifted item for Valentine’s Day in the U.S. in 2023, at 22%
- Cartier ranked as the top luxury jewelry brand by brand value in 2023
- Gen Z and Millennials accounted for 55% of total jewelry spend in 2023
- 37% of global jewelry buyers expect brands to provide transparency about sourcing
- 73% of U.S. jewelry consumers prefer buying from brick-and-mortar stores
- Over 80% of brides in the U.S. receive an engagement ring
- Only 2% of the world's colored gemstones are ethically sourced
- The average jewelry order value online is $270
- Watches & Wonders 2023 saw over 43,000 visitors
- 1 in 5 American women owns at least one piece of fine diamond jewelry
- Rose gold accounted for 12% of wedding band sales in 2023
- 85% of U.S. consumers say they value customization when shopping for jewelry
- Jewelry demand rises significantly during Diwali and Chinese New Year
- The average U.S. customer spends $215 on jewelry gifts for Christmas
- Brand loyalty is highest in luxury jewelry segment at 47%
- Customers aged 25 to 34 are the age group most likely to purchase jewelry online
- Platinum jewelry is most popular in Japan, accounting for almost 50% of demand
- Over 40% of jewelry shoppers use Instagram to discover products
- Tourists contribute to 25% of luxury jewelry purchases globally
- The average lifespan of a jewelry trend is 1.5 to 3 years
- 30% of jewelry shoppers prefer personalized engravings
- E-commerce jewelry returns average 20% of all online orders
- The average purchase value from repeat jewelry customers is 30% higher than first-time buyers
Interpretation
In a world where Millennials drop $5,500 on love, Gen Z scrolls for sparkle, Asia fuels the gold rush, and 67% of purchases are powered by women seeking meaning (and maybe a rose gold finish), the jewelry industry is less about bling and more about ethics, identity, and algorithm-curated desire—wrapped in a recyclable Cartier box, of course.
E-commerce and Digital Impact
- Online jewelry sales in the U.S. made up 20.5% of total jewelry sales in 2023
- Mobile commerce accounts for 35% of online jewelry purchases
- 65% of jewelry brands are investing more in digital marketing
- The majority of jewelry consumers research online before purchasing in-store
Interpretation
As sparkle goes digital, the jewelry industry is polishing its online presence, with mobile carts, digital ads, and web-savvy shoppers now setting the gold standard for sales.
Geographic and Export Insights
- The top three countries in jewelry exports are India, China, and the United States
- India exported $31 billion worth of gems and jewelry in fiscal year 2023
- Over 70% of jewelry manufacturing occurs in Asia
- Over 60% of global diamond cutting and polishing takes place in India
- Over 90% of global emeralds originate from Colombia, Zambia, and Brazil
- Over 90% of sapphires originate from Sri Lanka, Burma, and Madagascar
- North America holds a 25% share of the global fine jewelry market
Interpretation
While North America dazzles at the cash register with a quarter of global fine jewelry sales, the real sparkle begins in Asia, where the hands that cut, craft, and export gems—largely from India and China—shape the world's luxury from rough stone to refined brilliance.
Market Size and Growth Trends
- The global jewelry market was valued at approximately $340 billion in 2023
- The global diamond jewelry market is projected to reach $123.8 billion by 2030
- The U.S. jewelry market generated over $77 billion in revenue in 2023
- The global costume jewelry market is expected to reach $59.7 billion by 2027
- The U.S. wedding and engagement rings market size was valued at $61.6 billion in 2022
- Lab-grown diamonds experienced a 38% increase in sales in 2023
- China's jewelry market is expected to exceed 900 billion yuan ($125.4 billion) by 2025
- The gold jewelry market was valued at $228 billion in 2022
- Retail sales for jewelry stores in the U.S. rose 7.5% between 2021 and 2023
- Global demand for platinum jewelry declined 3% in 2023
- Rough diamond production totaled 120 million carats in 2022
- The global pearl jewelry market is projected to reach $20 billion by 2028
- U.S. imports of jewelry exceeded $15 billion in 2022
- Men’s jewelry segment grew by 21% year-over-year in 2023
- Smart jewelry is projected to grow at 13.4% CAGR through 2030
- Pandora sold over 100 million jewelry pieces globally in 2022
- Luxury jewelry resale grew 8% year-over-year in 2023
- U.S. jewelry industry employs over 120,000 people
- Tiffany & Co. had revenue of $4.4 billion in 2022
- The colored gemstone market is projected to grow to $37 billion by 2030
- The U.S. market for silver jewelry was valued at $4.2 billion in 2022
- Antique jewelry collectors grew by 18% globally in 2023
- The global market share of synthetic diamonds reached 10% in 2023
- Female-owned businesses represent 34% of U.S. jewelry retailers
- The jewelry and watch repair market in the U.S. is valued at $1.9 billion
Interpretation
With billions in bling from lab-grown diamonds to antique treasures, and everyone from tech lovers to grooms-to-be getting in on the sparkle, the jewelry industry proves that while not everything that glitters is gold, it’s almost certainly part of a booming, multifaceted market.
Product and Segment Analysis
- Secondhand and vintage jewelry makes up 10% of overall jewelry transactions
- Watches and jewelry together represent 8% of total luxury goods sales
- Bridal jewelry represents 29% of U.S. fine jewelry purchases
- The ring category accounts for 42% of all jewelry sold globally
- 25% of gold demand came from jewelry in 2022
- Average markup in fine jewelry retail is 100–300%
- 67% of jewelers in the U.S. are family-owned businesses
- Over 75% of mined diamonds are used in industrial applications
- The resale value of lab-grown diamonds dropped nearly 50% in 2023
- Gold is the most recycled precious metal in the jewelry sector
Interpretation
Behind the sparkle and sentimentality, the jewelry industry is a high-markup, family-run business where rings reign supreme, recycled gold glitters with sustainability, lab-grown diamonds lose their resale luster, and even secondhand sparkle is becoming a serious slice of the luxury pie.
