Press release
Primary Catalyst Driving Gemstones Market Evolution in 2025: Emerging Demand In Ornamental Use Driving Growth in the Gemstone Market Driver
Gemstones Market Share
The growing use of ornaments is expected to drive the growth of the gemstone market. Ornaments are gaining popularity due to higher disposable incomes, evolving fashion trends, and a desire for cultural expression. Gemstones are increasingly used in ornaments due to their beauty, rarity, and symbolic significance. For example, the Ministry of Commerce & Industry in India reported in December 2023 that India's gems and jewelry exports increased by 14.07% to $2.90 billion. Therefore, the growing use of ornaments is fueling the growth of the gemstone market.
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What Is the projected market size and growth rate for the gemstones market?
The gemstones market has experienced strong growth. It will grow from $31.32 billion in 2024 to $33.43 billion in 2025, with a CAGR of 6.7%. This growth is driven by royal patronage, cultural symbolism, the expansion of trade routes, new gemstone discoveries, evolving jewelry craftsmanship, and changing fashion trends.
The gemstones market is expected to grow to $42.76 billion by 2029, with a CAGR of 6.3%. This growth is driven by demand for sustainable gemstones, personalized jewelry, and expanding consumer bases in emerging markets. Key trends include lab-grown gemstones, cutting innovations, and new jewelry designs.
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What new trends are reshaping the gemstones market and its opportunities?
Companies in the gemstone market are increasingly leveraging artificial intelligence (AI) to revolutionize mining, grading, cutting, and sales processes. AI-powered tools are used to enhance efficiency, accuracy, and customer satisfaction. In March 2024, Star Gems, a Georgia-based design and manufacturing company, introduced AI assistants like GemArt, JewelBot, and VoiceGem. GemArt helps generate and refine jewelry designs, JewelBot facilitates the creation of sales materials, and VoiceGem offers real-time speech translation to break down language barriers, improving communication with international customers and expanding market reach.
What major market segments define the scope and growth of the gemstones market?
The gemstones market covered in this report is segmented -
1) By Product Type: Diamond, Emerald, Ruby, Sapphire, Alexandrite, Topaz, Other Product Types
2) By Product Format: Natural, Synthetic
3) By Distribution: Store-Based, Non-Store-Based
4) By End User: Astrology, Jewelry and Ornaments, Luxury Arts, Other End Users
Subsegments
1) By Diamond: Natural Diamond, Synthetic Diamond
2) By Emerald: Natural Emerald, Synthetic Emerald
3) By Ruby: Natural Ruby, Synthetic Ruby
4) By Sapphire: Blue Sapphire, Pink Sapphire, Yellow Sapphire, Synthetic Sapphire
5) By Alexandrite: Natural Alexandrite, Synthetic Alexandrite
6) By Topaz: Blue Topaz, Imperial Topaz, Other Varieties of Topaz
7) By Other Product Types: Amethyst, Aquamarine, Garnet, Opal, Peridot, Tourmaline
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What regions are leading the charge in the gemstones market?
North America was the largest region in the gemstones market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the gemstones market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Which key market leaders are driving the gemstones industry growth?
Major companies operating in the gemstones market are Rio Tinto Group, Anglo American plc, Alrosa, Tiffany & Co., Debswana Diamond Company Limited, Swarovski AG, Petra Diamonds Limited, Gemfields Group Limited, Stornoway Diamond Corporation, Blue Nile Inc., Lucara Diamond Corp., Gem Diamonds Ltd., KGK Group, Rockwell Diamonds Inc., Trans Hex Group (Pty) Ltd, Fura Gems Inc., Arctic Star Exploration Corp., Jindal Gems Jaipur, Pala International Inc., Botswana Diamonds PLC, Bric Jewels Co. Ltd., Burgundy Diamond Mines Limited, Mountain Province Diamonds Inc., Pangolin Diamonds Corporation, Merlin Diamonds Limited
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What Is Covered In The Gemstones Global Market Report?
•Market Size Forecast: Examine the gemstones market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the gemstones market for a structured understanding.
•Key Players Overview: Analyze major players in the gemstones market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the gemstones market.
•Segment Contributions: Evaluate how different segments drive overall growth in the gemstones market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the gemstones market.
•Industry Challenges: Identify potential risks and obstacles affecting the gemstones market.
•Competitive Landscape: Review strategic developments in the gemstones market, including expansions, agreements, and new product launches.
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