Jewelry Manufacturing Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 12/25/2023
SIC Codes: 3911
NAICS Codes: 339910
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Jewelry Manufacturing Industry Profile

Companies in this industry manufacture jewelry, silverware, and items such as compacts and cigarette cases from precious metals, gemstones, and other materials. Major companies include James Avery Artisan Jewelry, Richline Group, and Tiffany & Co (all based in the US), as well as Bulgari (Italy), Cartier (France), Kingold Jewelry (China), PANDORA (Denmark), and Swarovski (Austria).

The global jewelry market was valued at about $340 billion in 2022, according to Grand View Research. The US, China, and India are the largest jewelry markets. Demand for diamond and gold jewelry in China and India will fuel much of the industry's growth over the next several years.

The US jewelry manufacturing industry includes about 2,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of more than $7 billion.

COMPETITIVE LANDSCAPE

Demand for jewelry is driven by personal income and world gold and silver prices. The profitability of individual companies depends on efficient operations and cost controls. Large companies have advantages in offering a broader product line to meet consumers' changing desires, and in efficient production and distribution operations. Small companies can compete effectively by offering individualized and unique product lines. The US industry is concentrated: the 50 largest companies account for about 70% of industry revenue.

US jewelry manufacturers must compete on price with cheaper overseas producers. Transitioning to a production method that includes 3D printing of jewelry pieces could significantly reduce ...

 
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