【United State】United States’ Cultured Pearls and Precious Stones Market Poised for Steady 1.5% CAGR Growth Through 2035

IndexBox has just published a new report: “U.S. – Cultured Pearls, Precious Or Semi-Precious Stones – Market Analysis, Forecast, Size, Trends and Insights”. The article provides a comprehensive analysis of the United States market for cultured pearls, precious, and semi-precious stones. It reports that in 2024, US consumption reached 84K tons valued at $398.4B, continuing a five-year growth trend. The market forecast from 2024 to 2035 projects a volume CAGR of +1.5%, reaching 99K tons, and a value CAGR of +5.1%, reaching $685.1B. US production saw a significant spike in 2021 to 12K tons ($31B in value). The US is heavily import-dependent, with imports hitting 85K tons in 2024, primarily of worked stones, though the import value fell to $18.3B. Key suppliers by volume are Thailand, Brazil, and Germany, while India is the top supplier by value. Exports in 2024 were 211 tons valued at $15.7B, with Hong Kong SAR, Israel, and India as the top destinations by value. The analysis details trade by product type, highlighting the extreme price differences between categories like diamonds and other worked stones.

• US market value is forecast to grow at a 5.1% CAGR, reaching $685.1B by 2035
• Consumption and imports have grown for five consecutive years, reaching 84K tons and 85K tons respectively in 2024
• India is the leading import supplier by value ($8B), while Thailand leads by volume (17K tons)

• Non-industrial diamonds dominate import and export value, despite being a minor share of trade volume
• Export unit prices are exceptionally high, averaging over $74 million per ton in 2024

Driven by increasing demand for cultured pearls, precious or semi-precious stones in the United States, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +1.5% for the period from 2024 to 2035, which is projected to bring the market volume to 99K tons by the end of 2035.
In value terms, the market is forecast to increase with an anticipated CAGR of +5.1% for the period from 2024 to 2035, which is projected to bring the market value to $685.1B (in nominal wholesale prices) by the end of 2035.

For the fifth year in a row, the United States recorded growth in consumption of cultured pearls, precious or semi-precious stones, which increased by 11% to 84K tons in 2024. In general, consumption posted a significant increase. Over the period under review, consumption attained the peak volume in 2024 and is likely to continue growth in years to come.

The revenue of the precious stone and pearl market in the United States was estimated at $398.4B in 2024, picking up by 12% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). Overall, consumption enjoyed significant growth. Over the period under review, the market reached the peak level in 2024 and is expected to retain growth in the immediate term.

For the third year in a row, the United States recorded growth in production of cultured pearls, precious or semi-precious stones, which increased by 592% to 12K tons in 2021. In general, production saw significant growth. As a result, production reached the peak volume and is likely to continue growth in the immediate term.
In value terms, precious stone and pearl production skyrocketed to $31B in 2021. Over the period under review, production, however, recorded a significant contraction. Precious stone and pearl production peaked at $133.8B in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

For the fifth year in a row, the United States recorded growth in purchases abroad of cultured pearls, precious or semi-precious stones, which increased by 11% to 85K tons in 2024. In general, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 368% against the previous year. Imports peaked in 2024 and are expected to retain growth in the near future.
In value terms, precious stone and pearl imports plummeted to $18.3B in 2024. Overall, imports, however, recorded a noticeable downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 65% against the previous year. Over the period under review, imports hit record highs at $26.5B in 2022; however, from 2023 to 2024, imports stood at a somewhat lower figure.

Thailand (17K tons), Brazil (11K tons) and Germany (8.9K tons) were the main suppliers of precious stone and pearl imports to the United States, together accounting for 43% of total imports. Hong Kong SAR, Tanzania, Sri Lanka, Australia, Switzerland, Mozambique, Italy, India and France lagged somewhat behind, together comprising a further 42%.