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The global gemstones market size is projected to grow at a CAGR of 6.1% in the forecast period of 2024-2032.
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Diamonds are one of the most popular, precious, and expensive gemstones in the world. The growth of the diamond market can be attributed to the association of the gemstone as a symbol of love, endurance, strength, resilience, and commitment. Diamonds are available in diverse colours like yellow, pink, white, and blue; white diamonds, however, enjoy substantial popularity.
The growing focus on ethical sourcing and sustainability and the increasing number of environmentally friendly customers are bolstering the shift towards lab-grown diamonds. Key jewellery market players are also launching lab-grown diamonds with lowered costs and improved aesthetic appeal.
In August 2023, Pandora announced the expansion of its lab-grown diamond assortment and launched three new collections of lab-grown diamonds with enhanced accessibility and reduced prices.
Technological advancements and innovations boosting the traceability and transparency of diamonds are likely to fuel the gemstones market growth in the region. The development of innovative diamond polishing, mining, and cutting methods with improved productivity and lowered prices is anticipated to aid the market in the forecast period.
The Asia Pacific to Create Lucrative Opportunities for the Gemstones Market Expansion
The Asia Pacific is expected to be a significant market for the product over the forecast period. The growing demand for gemstones from emerging countries like China and India owing to the rising disposable incomes and the increased usage of ornaments in ceremonies is supporting the market growth in the Asia Pacific. The expansion of the organised retail sector in the region owing to the growing consumer awareness and increased investments in marketing is also supporting the market growth.
Meanwhile, the Europe and North America gemstones market growth can be attributed to the high consumer purchasing power and the growing demand for precious gemstones.
In the Middle East and Africa, ornamental stones and gemstones are widely used in the manufacturing of jewellery. The surging trend of customisation and personalisation of jewellery is also propelling the market for gemstones. Besides, Africa has established its position as a prominent supplier of gemstones in the world.
A gemstone refers to a precious or semi-precious stone, a piece of mineral crystal, which is widely used in cut and polished forms to prepare jewellery. Some rocks or organic materials, that do not fall under the category of minerals, are also used for jewellery and are often considered gemstones. Gemstones are known for their lustre and other properties, exhibiting an aesthetic value.
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Based on nature, the market is bifurcated into:
By type, the gemstones market segmentation includes:
On the basis of product, the market is categorised into:
Based on application, the market can be segmented into:
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Growing Demand for Jewelleries and Ornaments to Bolster the Gemstones Market Growth
The growing demand for jewellery and ornaments is driving the growth of the market. The rising consumer disposable incomes and improving living standards, particularly in emerging nations, is also propelling the market.
Moreover, the rising demand for coloured gemstones and the growing acceptance of gemstones in synthetic format owing to their affordable nature are also contributing to the market growth.
Over the forecast period, the growing trend of customising gemstone jewellery designs is expected to aid the market growth. The market is also anticipated to be supported in the forecast period by innovations in new designs and advancements in cutting-edge technologies like rapid prototyping (RP) and computer-aided design (CAD).
Rising Interest in Astrology to Favour the Gemstones Market Demand
In the astrology sector, gemstones are widely used as they are associated with various healing and metaphysical properties in diverse belief systems and cultures. The correspondence of gemstones with planets and zodiac signs in ancient practices like Ayurveda and Vedic systems is further boosting their demand.
Various companies are also launching several programmes and campaigns to enhance customer awareness regarding the benefits of such stones.
The report gives a detailed analysis of the following key players in the market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
REPORT FEATURES | DETAILS |
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:
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Breakup by Nature |
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Breakup by Type |
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Breakup by Product |
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Breakup by Application |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Gemstones Market Analysis
8.1 Key Industry Highlights
8.2 Global Gemstones Historical Market (2018-2023)
8.3 Global Gemstones Market Forecast (2024-2032)
8.4 Global Gemstones Market by Nature
8.4.1 Natural
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Synthetic
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Gemstones Market by Type
8.5.1 Precious
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Semi-Precious
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Gemstones Market by Product
8.6.1 Diamond
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Jade
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Sapphire
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Ruby
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Emerald
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
8.6.6 Others
8.7 Global Gemstones Market by Application
8.7.1 Astrology
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Jewellery and Ornaments
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Luxury Arts
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Others
8.8 Global Gemstones Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Gemstones Market Analysis
9.1 Market by Nature
9.2 Market by Type
9.3 Market by Product
9.4 Market by Application
9.5 Market by Country
9.5.1 United States of America
9.5.1.1 Historical Trend (2018-2023)
9.5.1.2 Forecast Trend (2024-2032)
9.5.2 Canada
9.5.2.1 Historical Trend (2018-2023)
9.5.2.2 Forecast Trend (2024-2032)
10 Europe Gemstones Market Analysis
10.1 Market by Nature
10.2 Market by Type
10.3 Market by Product
10.4 Market by Application
10.5 Market by Country
10.5.1 United Kingdom
10.5.1.1 Historical Trend (2018-2023)
10.5.1.2 Forecast Trend (2024-2032)
10.5.2 Germany
10.5.2.1 Historical Trend (2018-2023)
10.5.2.2 Forecast Trend (2024-2032)
10.5.3 France
10.5.3.1 Historical Trend (2018-2023)
10.5.3.2 Forecast Trend (2024-2032)
10.5.4 Italy
10.5.4.1 Historical Trend (2018-2023)
10.5.4.2 Forecast Trend (2024-2032)
10.5.5 Others
11 Asia Pacific Gemstones Market Analysis
11.1 Market by Nature
11.2 Market by Type
11.3 Market by Product
11.4 Market by Application
11.5 Market by Country
11.5.1 China
11.5.1.1 Historical Trend (2018-2023)
11.5.1.2 Forecast Trend (2024-2032)
11.5.2 Japan
11.5.2.1 Historical Trend (2018-2023)
11.5.2.2 Forecast Trend (2024-2032)
11.5.3 India
11.5.3.1 Historical Trend (2018-2023)
11.5.3.2 Forecast Trend (2024-2032)
11.5.4 ASEAN
11.5.4.1 Historical Trend (2018-2023)
11.5.4.2 Forecast Trend (2024-2032)
11.5.5 South Korea
11.5.5.1 Historical Trend (2018-2023)
11.5.5.2 Forecast Trend (2024-2032)
11.5.6 Australia
11.5.6.1 Historical Trend (2018-2023)
11.5.6.2 Forecast Trend (2024-2032)
11.5.7 Others
12 Latin America Gemstones Market Analysis
12.1 Market by Nature
12.2 Market by Type
12.3 Market by Product
12.4 Market by Application
12.5 Market by Country
12.5.1 Brazil
12.5.1.1 Historical Trend (2018-2023)
12.5.1.2 Forecast Trend (2024-2032)
12.5.2 Argentina
12.5.2.1 Historical Trend (2018-2023)
12.5.2.2 Forecast Trend (2024-2032)
12.5.3 Mexico
12.5.3.1 Historical Trend (2018-2023)
12.5.3.2 Forecast Trend (2024-2032)
12.5.4 Others
13 Middle East and Africa Gemstones Market Analysis
13.1 Market by Nature
13.2 Market by Type
13.3 Market by Product
13.4 Market by Application
13.5 Market by Country
13.5.1 Saudi Arabia
13.5.1.1 Historical Trend (2018-2023)
13.5.1.2 Forecast Trend (2024-2032)
13.5.2 United Arab Emirates
13.5.2.1 Historical Trend (2018-2023)
13.5.2.2 Forecast Trend (2024-2032)
13.5.3 Nigeria
13.5.3.1 Historical Trend (2018-2023)
13.5.3.2 Forecast Trend (2024-2032)
13.5.4 South Africa
13.5.4.1 Historical Trend (2018-2023)
13.5.4.2 Forecast Trend (2024-2032)
13.5.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Gem Diamonds Limited
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Kiran Gems Private Limited
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Bric Jewels Co. Ltd.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Gemfields Group Limited
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 The Rare Gemstone Company
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 PJSC ALROSA
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Fura Gems INC
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Debswana Diamond Company (Pty) Limited
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 KGK Group
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 Botswana Diamonds PLC
16.2.10.1 Company Overview
16.2.10.2 Product Portfolio
16.2.10.3 Demographic Reach and Achievements
16.2.10.4 Certifications
16.2.11 Anglo American plc
16.2.11.1 Company Overview
16.2.11.2 Product Portfolio
16.2.11.3 Demographic Reach and Achievements
16.2.11.4 Certifications
16.2.12 Lucara Diamond
16.2.12.1 Company Overview
16.2.12.2 Product Portfolio
16.2.12.3 Demographic Reach and Achievements
16.2.12.4 Certifications
16.2.13 Pangolin Diamonds Corp.
16.2.13.1 Company Overview
16.2.13.2 Product Portfolio
16.2.13.3 Demographic Reach and Achievements
16.2.13.4 Certifications
16.2.14 Pala International
16.2.14.1 Company Overview
16.2.14.2 Product Portfolio
16.2.14.3 Demographic Reach and Achievements
16.2.14.4 Certifications
16.2.15 Rio Tinto Group
16.2.15.1 Company Overview
16.2.15.2 Product Portfolio
16.2.15.3 Demographic Reach and Achievements
16.2.15.4 Certifications
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Gemstones Market: Key Industry Highlights, 2018 and 2032
2. Global Gemstones Historical Market: Breakup by Nature (USD Million), 2018-2023
3. Global Gemstones Market Forecast: Breakup by Nature (USD Million), 2024-2032
4. Global Gemstones Historical Market: Breakup by Type (USD Million), 2018-2023
5. Global Gemstones Market Forecast: Breakup by Type (USD Million), 2024-2032
6. Global Gemstones Historical Market: Breakup by Product (USD Million), 2018-2023
7. Global Gemstones Market Forecast: Breakup by Product (USD Million), 2024-2032
8. Global Gemstones Historical Market: Breakup by Application (USD Million), 2018-2023
9. Global Gemstones Market Forecast: Breakup by Application (USD Million), 2024-2032
10. Global Gemstones Historical Market: Breakup by Region (USD Million), 2018-2023
11. Global Gemstones Market Forecast: Breakup by Region (USD Million), 2024-2032
12. North America Gemstones Historical Market: Breakup by Country (USD Million), 2018-2023
13. North America Gemstones Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Europe Gemstones Historical Market: Breakup by Country (USD Million), 2018-2023
15. Europe Gemstones Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Asia Pacific Gemstones Historical Market: Breakup by Country (USD Million), 2018-2023
17. Asia Pacific Gemstones Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Latin America Gemstones Historical Market: Breakup by Country (USD Million), 2018-2023
19. Latin America Gemstones Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Middle East and Africa Gemstones Historical Market: Breakup by Country (USD Million), 2018-2023
21. Middle East and Africa Gemstones Market Forecast: Breakup by Country (USD Million), 2024-2032
22. Global Gemstones Market Structure
The market is projected to grow at a CAGR of 6.1% between 2023 and 2032.
The major drivers of the market are escalating disposable incomes, rising living standards, increasing demand for gemstones from the developing regions, the rising demand for premium quality products, and the growing popularity of diamond and ruby.
The key trends guiding the growth of the market include the customisation of gemstone jewellery designs and the use of cutting-edge technology to deliver premium quality jewellery.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The various segments based on nature of gemstones in the market are natural and synthetic.
The major types of gemstones in the market are precious and semi-precious.
The significant products considered in the market report are diamond, jade, sapphire, ruby, and emerald, among others.
The different applications of gemstones are astrology, jewellery and ornaments, and luxury arts, among others.
The major players in the 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 global gemstones market is being driven by the rising living standards. Aided by technological advancements, the market is assessed to witness a healthy growth in the forecast period of 2024-2032, growing at a CAGR of 6.1%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the market. By nature, the market is divided into natural and synthetic. Based on type, the market is bifurcated into precious and semi-precious.
On the basis of product, the market is segmented into diamond, jade, sapphire, ruby, and emerald, among others. By application, the market can be divided into astrology, jewellery and ornaments, and luxury arts, among others. The major regional markets for gemstones are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The key players in the above market include 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.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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