1、UNLOCKING POTENTIAL IN THE USA MARKET THROUGH NAVIGATING TRENDS AND OPPORTUNITIESSponsored by Ministry of Commerce&IndustryThe Gem&Jewellery Export Promotion Council Sponsored by Ministry of Commerce&Industry,Govt.of Indiawww.gjepc.org|gjepcindia|gjepcindia|gjepcindiaSTATISTICS&TRADE RESEARCHFor fur

2、ther queries,email us at The Gem&Jewellery Export Promotion CouncilSponsored by Ministry of Commerce&Industry,Govt.of IndiaOffice no D2B,Ground Floor,D Tower,West Core,Bharat Diamond Bourse,Bandra Kurla Complex,Bandra(E),Mumbai-400 051,Maharashtra,IndiaStatistics&Trade Research Department,GJEPC Data

3、 Analytics UnitFor further queries,email us at UNLOCKING POTENTIAL IN THE USA MARKET THROUGH NAVIGATING TRENDS AND OPPORTUNITIESExecutive SummaryThe United States is the largest gem and jewellery market globally,with an estimated valuation of$73.32 billion in 2023.This growth is fuelled by a combina

4、tion of rising con-sumer spending,evolving fashion trends,and a strong preference for ethically sourced and sustainable jewellery.The USAs jewellery market is characterized by robust de-mand across all key product categories,including diamond and gold jewellery,lab-grown diamonds,and customized piec

5、es.India plays a critical role in supplying the US market,with a 16.8%share in US jewel-lery imports.The bilateral trade in gems and jewellery reached$12.3 billion in 2023,reflecting a steady growth of 5.2%CAGR from 2020-2023.The increasing penetration of e-commerce,omnichannel retail strategies,and

6、 digital innovations such as virtual try-ons,AI-driven recommendations,and blockchain authentication are further driving market transformation.However,businesses need to navigate challenges such as high competition,regulatory complexities,and shifting consumer preferences to succeed in the market.Th