Jewelry and Silverware Manufacturers NAICS 339910

Jan 5, 2026 - Slower Growth Forecast

• The US jewelry and silverware manufacturers industry is projected to grow at a CAGR of 0.85% between 2025 and 2029, slower than the overall economy's anticipated growth, according to an updated forecast from Inforum and the Interindustry Economic Research Fund, Inc. Consumer sentiment is expected to improve in the forecast period, which bodes well for the durable goods manufacturing industries including to jewelry and silverware manufacturers. A factor that may curb consumer spending is substantially higher tariffs on consumer goods, which may be painful for households. The forecast noted that a tighter immigration policy could limit the expansion of the labor supply and job growth for durable goods manufacturing industries. However, labor productivity could still improve due to new technologies such as AI and 3-D printing as well as adjustments forced by the pandemic.
• Consumer sentiment ended 2025 on a weak footing, creating a challenging demand environment for jewelry and silverware manufacturers, as both major confidence measures weakened in December. The University of Michigan Index of Consumer Sentiment edged up to 52.9 but remained nearly 30% below 2024 levels, with durable goods buying conditions declining again and 63% of consumers expecting unemployment to rise. The Conference Board Consumer Confidence Index fell to 89.1, driven by a 9.5 point drop in the Present Situation Index, while the Expectations Index stayed at a recession signaling 70.7 for the 11th straight month. The conditions indicate consumers are prioritizing routine, lower cost purchases over big ticket discretionary spending. Overall, spending trends suggested ongoing headwinds for premium, non essential categories like fine jewelry and sterling silverware.

• According to reporting in JCK Online, a recent AlixPartners survey of 9,000 consumers highlights shifting generational preferences that may carry strategic implications for US jewelry manufacturers. Tiffany & Co ranked highest overall, favored by Gen X and millennials, while Gen Z preferred Cartier, and baby boomers leaned toward Signet-owned brands like Kay and Zales. Tiffany and Cartier were the only brands cited across all age groups, signaling broad appeal. Despite 5% sales growth in 2024, softer demand is forecast for 2025 amid economic uncertainty. With nearly half of respondents viewing in-store shopping as essential, physical retail remains critical. The findings suggest manufacturers should align product design, distribution, and brand messaging with generational expectations while reinforcing service excellence and retail presence to sustain demand.
• According to a report in the Wall Street Journal, some companies including a US-based silverware manufacturer are embracing news of new higher tariffs on a wide assortment of steel-based products. In August 2025, the Trump administration added 400 products to its tariff list, which will incur 50% tariffs on their steel and aluminum content. Sherrill Manufacturing CEO Greg Owens, who says his company is the only US-based manufacturer of stainless-steel flatware, admitted that it has been difficult to keep his business afloat while battling cheaper imports for market share. He called the new tariffs a victory for the industry. Other products affected by the new tariffs include farm equipment, bulldozers, motorcycles, dumbbells, and infant swings. The sector-specific, steel-and-aluminum tariffs were imposed by the White House under a national-security rationale.