The North America Pearl Jewelry Market would witness market growth of 12.6% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 5,121.9 thousand units, showcasing a growth of 11.0% (2019-2022).
Many societies view pearls as tokens of love and commitment, making them popular engagement and wedding jewelry choices. In traditional medicine, pearls have promoted calmness, reduced stress, and enhanced emotional well-being. Pearl necklaces, earrings, and bracelets have long been favoured for formal occasions. The timeless charm of pearls makes them a staple in weddings, where brides often choose pearl accessories for their purity and elegance. Similarly, pearls are a popular choice for milestone celebrations, offering a touch of grace and sophistication.
Pearls have made a notable entrance into the corporate domain, breaking away from the traditional diamond or gold accessories. This is seen as a symbol of understated elegance in professional settings, offering a refined and polished look without being overly ostentatious. One of the most significant shifts in the market is the integration of pearls into everyday fashion. From dainty pearl studs for a casual day out to layered pearl necklaces for a bohemian vibe, pearls are no longer reserved for special occasions but are embraced as a versatile accessory for daily wear.
According to the Bureau of Economic Analysis (BEA) of the U.S., in June 2023, personal consumption expenditures (PCE) climbed by $100.4 billion (0.5%), while disposable personal income (DPI), or personal income less personal current taxes, increased by $67.5 billion (0.3%). In June, personal savings totalled $862.4 billion, with a saving rate of 4.3 percent of disposable personal income. Rising disposable income tends to lead to an increased demand for luxury goods. With their timeless and classic appeal, Pearls are often considered a symbol of elegance and luxury. Due to these aspects, the market will expand across the North America region in upcoming years.
The US market dominated the North America Pearl Jewelry Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $6,666.5 million by 2030. The Canada market is experiencing a CAGR of 15.1% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 14.1% during (2023 - 2030).
Based on Pearl Nature, the market is segmented into Cultured, and Natural. Based on Type, the market is segmented into Necklace, Earrings, Rings, and Others. Based on Distribution Channel, the market is segmented into Jewelry Stores, Brand Stores, Supermarkets, and Others. Based on Pearl Source, the market is segmented into Fresh Water, and Salt Water. Based on Material, the market is segmented into Silver, Gold, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Pearl Jewelry Market is Predict to reach USD 37 Billion by 2030, at a CAGR of 12.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Mikimoto Co., Ltd., Kailis Jewellery, Jewelmer Group, CPI Luxury Group, TASAKI & Co., Ltd., Pearl Falco Corporation, Wing Wo Hing Jewelry Group Ltd., Isle of Wight Pearl, Pearls of Australia Pty Ltd, and PearlParadise.com Inc.
By Pearl Nature (Volume, Thousand Units, USD Billion, 2019 to 2030)
By Type (Volume, Thousand Units, USD Billion, 2019 to 2030)
By Distribution Channel (Volume, Thousand Units, USD Billion, 2019 to 2030)
By Pearl Source (Volume, Thousand Units, USD Billion, 2019 to 2030)
By Material (Volume, Thousand Units, USD Billion, 2019 to 2030)
By Country (Volume, Thousand Units, USD Million, 2019 to 2030)
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