US & Canada Diamond Engagement Ring Market Size By Mode of Purchase (Offline and Online), By Style (Halo, Solitaire, Vintage, and Others), By Regional Analysis And Forecast

 The US & Canada Diamond Engagement Ring Market was valued at USD 28,633.95 Million in 2019 and is projected to reach USD 39,729.69 Million by 2027, growing at a CAGR of 4.31% from 2020 to 2027.

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What is Diamond Engagement Ring?

Engagement rings are referred to in different parts of the world as finger rings or bands worn to celebrate the tradition of engagement or marriage. The engagement ring has been used since ancient times according to different cultures and has gained prominence around the world. Gimmel rings, poesy rings, and Byzantine rings were previously used as engagement rings. As innovation and technology has occurred in recent years, the industry has widened its range of engagement rings. In general, the classic and simple diamond wedding bands are produced by the use of powerful machines that apply enormous pressure on the metals and blending machines to shape the ring, followed by the process of soldering, polishing and buffing.

US & Canada Diamond Engagement Ring Market: Segmentation Analysis

Market by Mode of Purchase

Based on the Mode of Purchase, the market is bifurcated into Offline and Online. Offline accounted for the largest market share in 2019. The growing trend of customization of a diamond engagement rings is supporting the growth of the market.

Market by Style

On the basis of Style, the US & Canada Diamond Engagement Ring Market has been segmented into Halo, Solitaire, Vintage, and Others. Halo accounted for the largest market share in 2019. Halo diamond engagement rings are one of the most popular styles of diamond rings in the market.

Key Players :

Tiffany & Co 

• Tiffany & Co, American jewellery  giant introduced a new engagement ring style, new diamond cut to join its collection.
• It is available in a platinum band with a colorless True-cut diamond, and an 18K yellow gold band with a yellow cushion-cut diamond, the Tiffany True.

Blue Nile Inc

• The company opened its latest shopping center at Fashion Island as a part of a larger brick-and-mortar growth strategy.
• Blue Nile aims to open 50 showrooms over the next three years targeting high-end malls, open-air malls and street locations.