Press release
2025 Gemstones Market Outlook: Key Indicators Shaping Growth Through 2034
Gemstones Market
What Will the Gemstones Industry Market Size Be by 2025?
Over the past few years, there has been a robust growth in the size of the gemstones market. This market is expected to expand from $31.32 billion in 2024 to $33.43 billion in 2025, indicating a compound annual growth rate (CAGR) of 6.7%. Several factors can explain the historical growth, including the increase in royal sponsorship, growing significance of cultural symbolism, expansion of trade pathways, a rise in the finding of gemstones, evolution in the art of jewelry making, and changing fashion trends.
What's the Long-Term Growth Forecast for the Gemstones Market Size Through 2029?
In the upcoming years, the gemstones market is anticipated to witness robust growth, with the size expected to soar to $42.76 billion by 2029 at a CAGR of 6.3%. The expected growth within this timeframe can be associated with the rise in demand for ethically sourced and sustainable gems, the increasing trend of personalized and custom-designed jewelry, the growth in the utilization of gemstones in technological applications such as electronics, an increasing well-to-do consumer base in emerging markets, and ever-changing fashion trends. The period is also likely to see trends such as increased usage of lab-grown gemstones, advancements in gemstone refinement and cutting techniques, innovation in techniques of setting gemstones, and novelty in jewelry items.
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What Are the Key Growth Drivers Fueling the Gemstones Market Expansion?
The increased usage of decorative objects is predicted to fuel the expansion of the gemstone market in the future. These decorative trinkets not only enhance personal aesthetics but also carry symbolic cultural significance and act as a symbol of societal status. There is a growth in the popularity of these adornments, thanks to increased disposable incomes, evolving fashion styles, and a heightened drive for personal expression and cultural significance via accessories. Gemstones add to the charm and monetary worth of these objects. Their unique hues, dazzling luminescence, and uncommon occurrence make them a popular choice for personal beautification and cultural representation. For example, data from the Ministry of Commerce & Industry, a government organization in India, indicates that the country's gem and jewelry exports rose by 14.07% to $2.90 Billion in December 2023, up from $2.54 Billion in December 2022. Hence, the growing interest in decorative accessories has been propelling the growth of the gemstone industry.
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What Are the Key Trends Driving Gemstones Market Growth?
Big players in the gemstone market are progressively adopting artificial intelligence (AI) to innovate various elements of the sector. The addition of AI-fueled instruments in the gemstone market improves mining, classification, shaping, and sales operations, leading to major advancements in productivity, precision, and customer contentment. For example, in March 2024, Star Gems, a company situated in Georgia that specializes in design and manufacturing, introduced three innovative AI aids - GemArt, JewelBot, and VoiceGem to bolster operations and amplify customer interaction for jewelers. GemArt is an advanced AI apparatus built to produce and enhance jewelry designs in line with user suggestions and requirements. JewelBot is an AI aid aimed at speeding up the creation of diverse jewelry-related content. It is capable of generating sales training resources, product facts, and store handbooks, guaranteeing that jewelers can avail consistent and educative content. VoiceGem tackles the issue of linguistic barriers in the international market by offering real-time translation of dialogues. This AI-fueled tool for translating languages allows jewelers to interact effortlessly with customers from different parts of the world, improving customer support and broadening market boundaries.
How Is the Gemstones Market Segmented?
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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Which Companies Are Leading the Charge in Gemstones Market Innovation?
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
Which Regions Are Leading the Global Gemstones Market in Revenue?
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.
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