New Generation Drives US Jewelry Boom with Green Choices

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United States Jewelry News: US Jewelry Market Set for Sparkling Growth

The United States jewelry industry is entering a new golden era, with projections indicating the market will surge from USD 78.4 billion in 2024 to USD 97.62 billion by 2030. This steady 3.72% compound annual growth rate (CAGR) is being powered not only by the timeless appeal of fine jewelry but also by the evolving values and preferences of younger buyers.

Title: Millennials and Gen Z females across the United States are snapping up rings from VRAI
Image Credit: VRAI

This United States Jewelry News report reveals that the biggest drivers of this trend are Millennials and Gen Z, who are transforming jewelry from a symbol of wealth into a reflection of ethics, individuality, and modern lifestyle. The ring segment leads the charge, commanding more than 43% of the market, while diamonds—particularly lab-grown—are showing the most rapid growth. Offline and unbranded retail outlets still dominate in terms of volume, though e-commerce continues to grow.

Ethical Bling and Custom Touches Rule the Market

Customization and personalization have emerged as central themes in this new jewelry revolution. Consumers aged 25 to 44—especially women—are seeking out jewelry that tells their personal story, opting for engraved initials, birthstones, and stacking pieces that reflect their identity. Tiffany & Co. and Pandora are among the key players leaning into this trend, offering personalized charms, engraved wedding rings, and even modular pieces that allow wearers to mix and match styles.

Technology is enhancing this experience, with 3D design tools that let customers visualize and tweak jewelry designs before buying. Personalized bridal jewelry, in particular, is becoming a booming category, where buyers want one-of-a-kind engagement rings that deviate from cookie-cutter traditions.

Lab-Grown Diamonds Shine Bright

As concerns about environmental degradation and ethical sourcing rise, lab-grown diamonds are rapidly gaining favor. These synthetic gems are virtually indistinguishable from natural ones in terms of quality and appearance, yet they are more sustainable and cost-effective.

Brands like Brilliant Earth, Clean Origin, and James Allen have taken the lead by offering conflict-free, lab-grown diamond collections that appeal to socially responsible consumers. Millennials and Gen Z buyers are particularly enthusiastic, seeing these stones as symbols of conscious luxury. The market’s embrace of lab-grown diamonds reflects a broader cultural shift away from conspicuous consumption toward more mindful and values-based buying decisions.

Luxury Brands Make Headlines with Heritage and Heart

The prestige and allure of high-end labels remain intact, but even established luxury brands are adapting. On May 19, 2024, Harry Winston made waves when a 29.29-carat D-color, VVS2 marquise-cut diamond ring was listed at Bonhams New York. Expected to fetch up to $1.9 billion, the rare gem reasserted Winston’s legacy in high-jewelry excellence.

Meanwhile, on May 3, 2025, Pandora’s collaboration with UNICEF produced a heart-shaped silver charm featuring a signature blue gemstone. The charm is more than just a collector’s item—it reflects the brand’s social mission, which has raised nearly $14 million for youth education globally. This dual appeal—luxury with a conscience—is helping traditional names remain relevant in a rapidly evolving marketplace.

Young Shoppers Reshape the Jewelry Landscape

Millennials and Gen Z are not only changing what jewelry is bought—they’re changing how. These digital-savvy consumers are fueling the growth of online platforms, often favoring independent designers and boutique brands that align with their values. They seek inclusivity, sustainability, and authenticity in every purchase, with many drawn to brands that highlight fair trade practices and environmental awareness.

“Affordable luxury” is another rising trend. Jewelry that offers design-forward aesthetics at accessible prices is gaining traction, prompting even high-end labels to introduce more approachable lines to capture this widening demographic.

Volatile Raw Material Prices Pose a Threat

Despite the promising outlook, the market isn’t without challenges. Volatility in the prices of key materials like gold, platinum, and diamonds can disrupt supply chains and squeeze profit margins. As gold prices fluctuate based on inflation, geopolitical issues, and global demand, jewelry brands must find ways to absorb costs or pass them on to consumers without damaging their brand perception.

Who’s Winning in the Competitive Arena

The US jewelry market is defined by a mix of heritage players and innovative newcomers. Industry giants like LVMH, Tiffany & Co., Cartier, Signet Jewelers, and Harry Winston continue to lead, each with its own niche and brand identity—from Tiffany’s modern elegance to Harry Winston’s exclusive brilliance.

Brands like VRAI, Aether Diamonds, and Mejuri represent the new wave, targeting younger, eco-conscious buyers with transparent practices and contemporary designs. These disruptors are gaining ground thanks to their agility, digital-first strategies, and sharp focus on consumer values.

The Market Outlook Sparkles with Opportunity

As the US jewelry market marches toward nearly USD 100 billion in value by 2030, it’s clear that this new era is being shaped by more than just glamour. A younger, more ethically minded generation is placing purpose over prestige, demanding transparency, personalization, and sustainability. This shift is prompting even the most iconic luxury brands to evolve while creating fertile ground for new entrants.

The combination of lab-grown innovations, digital customization tools, and growing demand for ethical sourcing is transforming jewelry from a status symbol into a deeply personal and socially meaningful form of self-expression. For brands that adapt, the future holds not just profit, but a deeper connection with the next generation of buyers.

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