Global Gemstones Market to Reach $42.76 Billion by 2029, Growing at 6.3% CAGR

What Is the Expected Size and Growth Rate of the Gemstones Market?
The size of the gemstones market has witnessed a robust expansion in recent times. The market, which is projected to progress from $31.32 billion in 2024 to $33.43 billion in 2025, anticipates a compound annual growth rate (CAGR) of 6.7%. The key factors contributing to this growth during the historic period include enhanced support from the royal community, burgeoning cultural symbolism, expansion of trade routes, an escalation in gemstone discoveries, the evolution of jewelry craftsmanship, and changes in fashion trends.

Expectations are high for significant growth in the gemstone market size in the upcoming years, as it's forecasted to reach a value of $42.76 billion in 2029, with a compound annual growth rate (CAGR) of 6.3%. Various factors contributing to this predicted growth during the forecasted period include the escalating demand for ethically sourced and renewable gems, a surge in preference for personalized and custom-made jewelry, increased use of gemstones in areas such as electronics technology, a growing prosperous consumer population in rising markets, and the transformation of fashion trends. The weather vane for trends in the forecast period points towards the adoption of lab-created gemstones, progress in methods used for gemstone cutting and polishing, innovatory developments in gemstone setting techniques, and creative advancements in jewelry products.

What Factors Are Fueling Growth in the Gemstones Market?
The upward trend in the consumption of decorative accessories is anticipated to drive the expansion of the gemstone market. These accessories augment personal aesthetics, imbue cultural symbolism, and denote social status. With increasing disposable income, shifting fashion preferences and an increasing inclination towards personal expression and cultural significance in accessories, the demand for decorative accessories is rising. Gemstones, with their uniqueness, vibrant colors, brilliance, and rarity, are used to elevate the allure and worth of various decorative pieces. These qualities make them particularly popular for personal beautification and cultural representation. For example, as stated by the Ministry of Commerce and Industry, a government agency based in India, the exports of gems and jewelry from India saw a 14.07% rise in December 2023, reaching $2.90 Billion from $2.54 Billion in December 2022. Hence, the popularity of decorative accessories is spurring the growth of the gemstone market.

Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=18371&type=smp

Which Leading Companies Are Shaping the Growth of the Gemstones Market?
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

What Are the Major Trends Shaping the Gemstones Market?
Leading entities in the gemstone market are progressively implementing artificial intelligence (AI) technology to transform multiple facets of the trade. AI-enabled tools in the gemstone industry boost mining, grading, cutting, and selling processes, delivering significant advantages in performance, precision, and consumer satisfaction. For example, in March 2024, Star Gems, a company located in Georgia that specializes in design and manufacturing, introduced three advanced AI aides - GemArt, JewelBot, and VoiceGem, to assist jewelers in optimizing operations and bolstering customer interaction. GemArt is an advanced AI tool tailored to develop and refine jewelry designs based on user instructions and specifications. JewelBot is an AI aide designed to hasten the creation of diverse jewelry-related content, such as sales training materials, product details, and store guides, ensuring jewelers are supplied with consistent and informative data. VoiceGem addresses the issue of language restrictions in the international market by offering real-time verbal translation. This AI-driven language translation device allows jewelers to have unhindered communication with overseas customers, enhancing customer support and broadening market penetration.

What Are the Key Segments 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

Pre-Book Your Report Now For A Swift Delivery:
https://www.thebusinessresearchcompany.com/report/gemstones-global-market-report

Which Region Dominates 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.

What Is Covered In The Gemstones Global Market Report?

- Market Size Analysis: Analyze the Gemstones Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Gemstones Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Gemstones Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Gemstones Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=18371

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.