Press release
Certified Gemstones Market Set to Reach $13.41 Billion by 2029 with 6% Yearly Growth
Certified Gemstones Market
The escalating trend of ornament usage is set to drive the growth of the certified gemstone market. Decorative pieces referred to as ornaments are used to further embellish jewelry, serving as aesthetic add-ons that contribute splendour, elegance, or festive cheer despite having no functional value. Flourishing fashion trends, cultural and societal importance, personal self-expression, bettered economic outlook, advancements in manufacturing processes, and efficient marketing tactics can all be credited for the boom in ornament usage. By pledging authenticity and reinforcing quality assurance via thorough examination, certified gemstones boost confidence in the market and investment value. To demonstrate, the Ministry of Commerce & Industry, a government agency from India, revealed that the country experienced a 14.07% rise in gems and jewelry exports in December 2023 which amounted to $2.90 Billion, up from $2.54 Billion in December 2022. Consequently, the amplified use of ornaments is fuelling the growth of the certified gemstone market.
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What is the future CAGR of the certified gemstones market, and how will it impact industry expansion?
The market size for certified gemstones has seen significant growth in the past few years. Its size is predicted to rise from $10 billion in 2024 to approximately $10.63 billion in 2025, with a compound annual growth rate (CAGR) of 6.3%. Factors that contributed to the growth during the historic period include a move towards online sales platforms and digital marketing techniques, the growth of lab-created diamonds, online retail expansion, increased consumer wealth, and a surge in demand for luxury items.
One can expect significant expansion in the certified gemstones market in the coming years. The projected expansion is set to escalate the market to a value of $13.41 billion by 2029, with a compound annual growth rate (CAGR) of 6.0%. Factors credited with this anticipated growth within the forecast period encompass an increasing attraction to distinct accessories, heightened per capita earnings facilitating purchases, surging investments in gemstones, expansion in online platforms for gemstone trading, and the growing appeal of colored gemstones within the bridal and fashion jewelry sectors. Notable trends expected within the forecast period consist of digital transition and growth in e-commerce, pivoting towards environmentally responsible and ethical sourcing methods, technological strides in gemstone certification, augmentation of online and digital sales avenues, and increased demand originating from emerging markets.
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What are the most significant trends transforming the certified gemstones market today?
Leading firms in the certified gemstones market are leveraging artificial intelligence (AI) to create gemstone reporting platforms, with the aim of making gemological certifications easier to access and more affordable. Such AI-enabled gemstone reports are evaluations stemming from artificial intelligence advancements and apply AI algorithms to examine various characteristics of gemstones, including color, clarity, cut, carat weight, and overall quality. In July 2024, Gübelin Gem Lab, a laboratory specializing in gemstone certification and analysis based in Switzerland, introduced an AI-backed gemstone report titled the Gem Passport. Harnessing the power of the AI-oriented Gemtelligence tool, Gübelin's Gem Passport offers essential identification features for untreated emeralds, rubies, and blue sapphires up to 3 carats. It incorporates species, variety, origin country, and a simplified treatment report. Using AI-powered algorithms, Gemtelligence, first unveiled the previous year, swiftly identifies the origin and heat treatments of these gemstones, simplifying the testing process by minimizing the necessity for microscopic analysis.
Which key market segments comprise the certified gemstones market and drive its revenue growth?
The certified gemstones market covered in this report is segmented -
1) By Gemstone Type: Emerald, Pearl, Ruby, Sapphire, Other Gemstones
2) By Gemstone Category: Natural, Synthetic
3) By Distribution Channel: Store, Non-Store
4) By End-User: Jewelry And Ornaments, Luxury Arts
Subsegments:
1) By Emerald: Natural Emeralds, Treated Emeralds
2) By Pearl: Natural Pearls, Cultured Pearls
3) By Ruby: Natural Rubies, Treated Rubies
4) By Sapphire: Natural Sapphires, Treated Sapphires
5) By Other Gemstones: Diamond, Aquamarine, Garnet, Topaz
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North America was the largest region in the certified gemstones market in 2023. The regions covered in the certified gemstones market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the leading players fueling growth in the certified gemstones market?
Major companies operating in the certified gemstones market are Rio Tinto International Holdings Ltd, De Beers SA, Debswana Diamond Company Limited, Tiffany & Company, Graff Diamonds International Limited, Gemological Institute of America Inc., Petra Diamonds Limited, Blue Nile Inc., Lucara Diamond Corporation, Gem Diamonds, Gemfields Group Limited, Swarovski AG, KGK Group, ALROSA-Nyurba, Muzo International Ltd., Fura Gems Inc., Arctic Star Exploration Corp., Jindal Gems, Botswana Diamonds Plc, Pala International Inc., Leibish & Co Ltd, David Morris, GemSelect Limited
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What Is Covered In The Certified Gemstones Global Market Report?
•Market Size Forecast: Examine the certified gemstones market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the certified gemstones market for a structured understanding.
•Key Players Overview: Analyze major players in the certified gemstones market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the certified gemstones market.
•Segment Contributions: Evaluate how different segments drive overall growth in the certified gemstones market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the certified gemstones market.
•Industry Challenges: Identify potential risks and obstacles affecting the certified gemstones market.
•Competitive Landscape: Review strategic developments in the certified gemstones market, including expansions, agreements, and new product launches.
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