Gemstones Market

Gemstones Market: Escalating Preference for Synthetic/Lab-grown Diamond to Reshape Demand Scenario: Global Industry Analysis 2013-2017 & Opportunity Analysis 2018-2026

Gemstones Market - Key Research Findings

  1. Global gemstones market size in 2018 – Nearly US$ 22 Bn
  2. The gemstones market is expected to grow at a CAGR of approximately 5% over 2018-2026.
  3. Millennials and the Gen Z are the prime target customers of the gemstones market. Increasing demand for lab-grown diamonds among consumers is expected to witness growth during the forecast period in the global gemstones market. In addition, the process of lab-grown diamonds is much lower as compared to those of natural diamonds.
  4. North America accounts for a share of more than 36% in the global gemstones market value owing to the soaring diamond jewelry sale in the US market.
  5. The market in Asia Pacific is projected to witness rapid growth, and register a promising CAGR over the forecast period, owing to the upsurge in the demand for the finest high-quality gems or unique and rare stones, along with rise in the per capita spending of consumers on luxury product categories.
  6. Among all the product type segments, diamond is expected to witness a strong incremental opportunity over the forecast period, which is attributed to the growing demand for diamond jewelry among the millennial and Gen Z generations due to their increasing spending power.

Top 3 Factors Shaping the Gemstones Market

  • Diamond Mining & Exploration Industry

    The diamond mining & exploration industry is expected to have a significant impact on the global gemstones market. In terms of the growth perspective of diamond mining companies, 2017 was a strong year for the gemstones market. Every segment of the value chain improved in 2017, with industry revenue growth of around 2%. This scenario had an overall positive impact on the global retail sales of diamond jewelry. In the recent times, there has been growth in the demand for lab-grown diamonds, which is likely to reshape the industry in the near future.

  • Growing Penetration of Organized Retail
    • Specialty stores represent one of the evolving and formats in the retail sector, especially in developing countries.
    • Specialty stores are gaining significant popularity recently and a majority of key vendors of gemstones based in different markets operate through specialty jewelry stores.
    • In specialty stores, a wide variety of gems and jewelry is stocked under one roof, resulting in widespread availability of a wide range of options for customers.
    • Consumers in emerging economies such as Asia Pacific are slowly drifting away from conventional unorganized jewelry and are inclining toward organized branded products to avoid purchasing counterfeit products.
    • Moreover, organized sales are likely to increase owing to notable changes in the preferences of younger consumers - following the introduction of hallmarking and certifications.

Gemstones Market: Structure Analysis

  • The global gemstones market represents a partially consolidated competition landscape, wherein Tier 1 & Tier 2 companies hold more than 40-50% revenue share.
  • Gemstone mining companies are mostly engaged in the mining & exploration of gemstones, particularly diamond.
  • M&A activity, joint ventures, the acquisition of new mines, development and expansion of the lifespan of old mines, listing of companies on the stock exchange, expanding into geographies, expansion of the companies’ businesses, and expansion of the production capacity will remain some of the top developmental strategies of gemstones market players.

Key Segment

Based on the product type,.

  • diamond
  • emerald
  • ruby
  • sapphire
  • alexandrite
  • topaz
  • others

Based on the product format

  • natural
  • synthetic

Based on the end-use

  • jewelry & ornaments
    • bangles
    • necklace
    • pendants
    • earrings
    • rings
    • anklets
    • brooches
  • luxury arts

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