Press release
2025 Synthetic Gemstone Industry Trends Report: Long-Term Outlook Through 2034
Synthetic Gemstone Market Size
How Large Will the Synthetic Gemstone Market Size By 2025?
Over the past few years, the synthetic gemstone market size has shown a constant growth pattern. By 2025, it is projected to increase from $23.36 billion in 2024 to $24.49 billion, representing a compound annual growth rate (CAGR) of 4.9%. The growth seen in the past is largely due to expanded use of synthetic gemstones in the jewelry industry, amplified marketing and branding strategies, efforts towards promoting eco-friendly gemstone production, broadening range of synthetic gemstone products, and the increase in favorable government policies.
How Big Is the Synthetic Gemstone Market Size Expected to Grow by 2029?
Anticipated consistent expansion in the synthetic gemstone market size over the upcoming years estimates its worth to hit $29.18 billion in 2029, growing at a compound annual growth rate (CAGR) of 4.5%. Factors contributing to this projected growth include escalating demand for affordable luxuries, increasing environmental consciousness, a surge in preferences for customization and personalization, increased funding in research and development (R&D), and upsurge in e-commerce. Foreseen trends within this period encompass advancements in gemstone synthesis technology, progress in gemstone cutting and polishing techniques, a surge in lab-grown diamond popularity, leading-edge production methods, and breakthroughs in hydrothermal synthesis.
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Which Key Market Drivers Powering Synthetic Gemstone Market Expansion and Growth?
The advancement in the jewelry sector is anticipated to spur the growth of the synthetic gemstone market. The jewelry sector includes activities such as creation, production, and selling of ornaments like rings, necklaces, and bracelets made from precious metals and gemstones. The upswing in this industry can be attributed to the adoption of synthetic gemstones, which are ethically sourced, cost-effective, and of uniform quality, thus meeting the rising consumer need for sustainable and reasonably priced luxury items. Synthetic gemstones offer the jewelry industry affordable, ethical, and superior quality alternatives to natural gemstones, encouraging innovation and enabling jewelers to cater to a range of consumer needs while reducing environmental harm. For example, the USGS Publications Warehouse, an official US government website, suggested that the global production of diamonds in 2022 saw a minor uptick compared to 2021. Hence, the expansion in the jewelry sector is fueling the growth of the synthetic gemstone market.
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Which Fast-Growing Trends Are Poised to Disrupt the Synthetic Gemstone Market?
Leading firms in the synthetic gemstone industry, such as Hyperion Materials & Technologies, are prioritising the development of innovative products like the Polycrystalline Diamond (PCD) to augment the efficiency and longevity of their gems. Recognised for its strength, resistance to wear and excellent thermal conductivity, PCD is an artificial diamond product consisting of numerous small, bonded diamond grains. For instance, in November 2023, Hyperion Materials & Technologies, an American manufacturing entity, unveiled the P-Series PCD and U-Series PCD. Both of these are deemed of high quality and reliability and offer enhanced performance and cost-effectiveness, delivering consistent results on non-ferrous and non-metallic materials such as aluminium, metal matrix composites, copper, and carbon-fiber-reinforced polymers (CFRP). The P-Series PCD, revered for its quality and dependability, is a favourite for toolmakers in need of precise and efficient machining solutions.
What Are the Emerging Segments in the Synthetic Gemstone Market?
The synthetic gemstone market covered in this report is segmented -
1) By Type: Ruby, Emerald, Spinel, Other Types
2) By Distribution: Online, Offline
3) By Application: Jewelry, Instrument, Other Applications
Subsegments:
1) By Ruby: Czochralski Process, Hydrothermal Synthesis, Flux-Grown Ruby
2) By Emerald: Hydrothermal Process, Flux-Growth Method, Czochralski Process
3) By Spinel: Flame Fusion, Hydrothermal Process, Czochralski Process
4) By Other Types: Synthetic Sapphire, Synthetic Diamond (HPHT And CVD methods), Synthetic Garnet, Other Types (Amethyst, Topaz, Alexandrite)
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Who Are the Global Leaders in the Synthetic Gemstone Market?
Major companies operating in the synthetic gemstone market are Kyocera Corporation, Swarovski AG, Gemfields Group Limited, Gilson Inc., The Asha Company, RusGems, Charles & Colvard Ltd., R C Gems, Diamond Nexus Labs, Astro Gallery of Gems, Chatham Inc., BetterThanDiamond Inc., Biron Gems, Scio Diamond Technology Corporation, Karat Patch Inc., Gem World, KP Gems, Djeva, Vala Brothers, Aini Gems
Which are the Top Profitable Regional Markets for the Synthetic Gemstone Industry?
North America was the largest region in the synthetic gemstone market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the synthetic gemstone market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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