Press Release

Global Gemstones Market to Grow at a CAGR of 6.1% During 2024-2032, Aided by the Growing Demand for Jewellery and Ornaments

Global Gemstones Market

According to a new report by EMR titled, ‘Global Gemstones Market Report and Forecast 2024-2032’, the global market for gemstones is projected to grow at a CAGR of 6.1% between 2024 and 2032, driven by rising living standards and increasing demand for fine jewellery.

The gemstones market is being driven by the rising demand for jewellery and ornaments, particularly gemstone-studded rings. The growing investments by leading jewellery brands and companies in product advertising to create brand awareness are significantly contributing to the market growth. This is resulting in the increased popularity of jewellery as a lavish gift item and the expansion of the organised retail jewellery sector.


Further, several companies are providing feasible finance schemes to consumers, which is expected to enhance the sales of gemstone-studded jewels and ornaments. Moreover, in developing regions like India, gemstones play a vital role in Vedic astrology, which is aiding the market growth.


Further, there has been a rise in the use of gems for decoration purposes as hardstone carvings, and antiquity gems are becoming popular as luxury art forms. Even fashion designers are choosing coloured gemstone jewellery over the ones carved using gold or silver.


Based on product, the growing demand for precious gemstones is expected to result in increased demand for diamonds in the coming years. Moreover, the growing popularity of ruby, emerald, and sapphire among millennials is likely further propel the market growth. The growing focus of e-commerce platforms like, Inc. (NASDAQ: AMZN) and Alibaba Group Holding Ltd (NYSE: BABA) to provide consumers with certified gemstones to win their trust is expected to further boost the market growth over the forecast period.


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Market Breakup by Nature, Type, Product, Application, and Region:

  • By nature, the market can be bifurcated into natural and synthetic.
  • Based on type, the market is divided into precious and semi-precious gemstones.
  • The various products available in the market include diamond, jade, sapphire, ruby, and emerald, among others.
  • On the basis of application, the market is categorised into astrology, jewellery and ornaments, and luxury arts, among others.
  • Region-wise, the global market for gemstones can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.


Key Findings of the Report:

  • The global market for gemstones is being driven by the increasing demand for jewellery and ornaments and the rising disposable incomes.
  • The market growth can be attributed to the growing investments by the manufacturers in product marketing.
  • The growing demand for high-quality precious stones and the rising standards of living are also boosting the market growth.
  • The adoption of cutting-edge technologies by manufacturers and the growing trend of customising jewellery designs are expected to further propel the market growth.


Key Offerings of the Report:

  • The EMR report gives an overview of the global market for gemstones for the periods (2018-2023) and (2024-2032).
  • The report also offers historical (2018-2023) and forecast (2024-2032) market information for the nature, types, products, applications, and major regions of gemstones.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.


The major players in the global gemstones market are Gem Diamonds Limited, Kiran Gems Private Limited, Bric Jewels Co. Ltd., Gemfields Group Limited, The Rare Gemstone Company, PJSC ALROSA, Fura Gems INC, Debswana Diamond Company (Pty) Limited, KGK Group, Botswana Diamonds PLC, Anglo American plc, Lucara Diamond, Pangolin Diamonds Corp., Pala International, and Rio Tinto Group. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.


Key Highlights of the Report

Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Nature
  • Type
  • Product
  • Application
  • Region
Breakup by Nature
  • Natural
  • Synthetic
Breakup by Type
  • Precious
  • Semi-Precious
Breakup by Product
  • Diamond
  • Jade
  • Sapphire
  • Ruby
  • Emerald
  • Others
Breakup by Application
  • Astrology
  • Jewellery and Ornaments
  • Luxury Arts
  • Others
Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Gem Diamonds Limited
  • Kiran Gems Private Limited
  • Bric Jewels Co. Ltd.
  • Gemfields Group Limited
  • The Rare Gemstone Company
  • Fura Gems INC
  • Debswana Diamond Company (Pty) Limited
  • KGK Group
  • Botswana Diamonds PLC
  • Anglo American plc
  • Lucara Diamond 
  • Pangolin Diamonds Corp.
  • Pala International
  • Rio Tinto Group


About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.


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