PUBLISHER: Grand View Research | PRODUCT CODE: 1268827
PUBLISHER: Grand View Research | PRODUCT CODE: 1268827
The U.S. men's metal wedding bands market size is anticipated to reach USD 1.44 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.1% from 2023 to 2030. A rise in the number of proposals and couples getting married in the country has had a positive effect on the U.S. men's metal wedding bands market. The U.S. will witness more weddings in 2022 in comparison to any other year according to a report published by Wedding Report. The report estimated that 2.5 million weddings are predicted to happen in 2022 since many individuals rescheduled their wedding dates in the last two years.
The COVID-19 pandemic forced couples to have intimate wedding events while some were not able to have a wedding at all. However, since the easing of restrictions, the average costs incurred on weddings have reached the pre-pandemic levels. In 2022, a large number of couples are getting married and are likely to spend more on their wedding-related activities and wedding jewelry. Thus, increased expenditure on weddings and jewelry acts as a demand-driving factor for the men's metal wedding band market in the U.S
Based on material, the U.S. men's metal wedding band can be segmented into gold, platinum, diamond, silver, titanium, cobalt, tungsten, and others. Gold is considered the most popular metal for men's wedding bands in the U.S. Additionally, gold is considered timeless and is associated with luxury, due to which this material segment is expected to lead the U.S. market. However, due to distinctive characteristics like durability and wear resistance, metals like tungsten and platinum have also gained popularity over the years.