U.S.: Market for Cultured Pearls, Precious Or Semi-Precious Stones 2024

Market Size for Cultured Pearls, Precious Or Semi-Precious Stones in the U.S.

In 2022, the U.S. precious stone and pearl market increased by 17% to $X, rising for the second year in a row after four years of decline. Overall, consumption posted a strong increase. Precious stone and pearl consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Exports of Cultured Pearls, Precious Or Semi-Precious Stones

Exports from the U.S.

In 2022, overseas shipments of cultured pearls, precious or semi-precious stones decreased by -28.1% to X tons, falling for the third year in a row after eight years of growth. In general, exports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2017 with an increase of 38%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, precious stone and pearl exports soared to $X in 2022. Overall, total exports indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +82.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 50%. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Israel (X tons) was the main destination for precious stone and pearl exports from the United States, with a 38% share of total exports. Moreover, precious stone and pearl exports to Israel exceeded the volume sent to the second major destination, Vietnam (X tons), twofold. The third position in this ranking was taken by Switzerland (X tons), with a 7.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Israel totaled +4.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+57.3% per year) and Switzerland (+5.6% per year).

In value terms, the largest markets for precious stone and pearl exported from the United States were India ($X), Israel ($X) and Belgium ($X), together accounting for 58% of total exports. Hong Kong SAR, Switzerland, the United Arab Emirates, Italy, Vietnam, Saint Maarten (Dutch part) and Cambodia lagged somewhat behind, together comprising a further 27%.

In terms of the main countries of destination, Cambodia, with a CAGR of +61.5%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average precious stone and pearl export price amounted to $X per ton, with an increase of 69% against the previous year. Over the period under review, the export price saw a resilient expansion. The most prominent rate of growth was recorded in 2021 when the average export price increased by 152% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Cambodia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+47.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cultured Pearls, Precious Or Semi-Precious Stones

Imports into the U.S.

In 2022, precious stone and pearl imports into the United States totaled X tons, increasing by 4.3% on the previous year's figure. Overall, imports showed strong growth. The most prominent rate of growth was recorded in 2021 when imports increased by 77% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, precious stone and pearl imports skyrocketed to $X in 2022. Over the period under review, total imports indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +91.2% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 64%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Thailand (X tons), Brazil (X tons) and Germany (X tons) were the main suppliers of precious stone and pearl imports to the United States, with a combined 42% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of +111.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X) constituted the largest supplier of cultured pearls, precious or semi-precious stones to the United States, comprising 44% of total imports. The second position in the ranking was held by Switzerland ($X), with a 2.3% share of total imports. It was followed by Thailand, with a 1.7% share.

From 2012 to 2022, the average annual growth rate of value from India totaled +7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (+2.4% per year) and Thailand (+6.4% per year).

Import Prices by Country

In 2022, the average precious stone and pearl import price amounted to $X per ton, surging by 11% against the previous year. Over the period under review, the import price, however, continues to indicate a perceptible reduction. The most prominent rate of growth was recorded in 2018 when the average import price increased by 46%. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per ton), while the price for Tanzania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+1.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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