NEWARK, Del, May 26, 2022 (GLOBE NEWSWIRE) -- According to FMI’s report, nearly 85% of overall sales of gemstones is accounted by jewellery and ornaments, a majority of which is accounted by gemstone-studded rings. Customization of gems and jewellery has been trending since the recent past, which is creating high-potential growth opportunities for gemstones market players.
As per newly released data by Future Market Insights (FMI), the gemstone market is estimated at US$ 30,779.1Mn in 2022 and is projected to reach US$ 53,146.2Mn by 2032. The market grew at a CAGR of 5.6% from 2017 to 2021. The gemstone market holds 50% of share in the overall gems and jewellery market.
The report suggests that a number of manufacturers and designers are exclusively focused on the development of innovative, customized gemstone jewellery designs by using cutting edge technologies such as rapid prototyping (RP) and computer-aided design (CAD). However, research also clearly points to steady growth in the rate of purchasing gemstones for luxury arts.
Diamond holds an approximate revenue share of 80% of overall gemstones sales and has been projected to remain the bestselling type of gemstones over the years to come. The report highlights promising growth in the demand for ruby, as indicated by the gemstones market forecast for the next few years.
At present, more than 85% of gemstones that are sold are in synthetic format. The study opines that the versatile physical attributes and relatively lower price point of gemstones in the synthetic format will continue to position them as a preferred choice over natural gemstones.
Although low-end gemstones have been performing well in terms of sales over the recent past, high-end gemstones market will continue to nurture the premium consumer base. Consumers from emerging Asian economies will particularly prefer high-quality gemstones that are rare to collect and unique in designs.
While this trend has originated from the constantly improving per-capita spending on lifestyle products, a sizable consumer population also reaffirms to adhere to budget constraints while selecting the type of gemstone.
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Developed Regions Spearhead Global Gemstones Space, Asian Markets to Emerge Lucrative
North America, with over 1/3rd share of the global gemstones market value, will remain the preeminent region for investment, for manufacturers, designers, and marketers of gemstones. Moreover, according to the study, Europe also accounts for a considerably high value share in gemstones market – prominently owing to significant demand for diamond and precious gemstones jewelry.
Furthermore, Asia Pacific – the hub for some of the high-quality, finest gemstone finds, is cited as an important regional market for both, diamond and colored gemstones. FMI’s analysis points to China’s primacy in the APAC’s gemstones market, followed by India and Japan.
Competition Analysis: Gemstones Market Players
Supply of colored gemstones such as ruby, sapphire, emerald, and others is likely to remain fragmented, as colored gemstones has been defined as a small cottage industry. The number of players is high and the products range is wide. On the other side, the market for diamond is governed by a few large players, owning concentrated mine pockets.
A majority of leading companies operating in the global gemstones market landscape are strategizing on the expansion of mining, production, and processing capacities of gemstones. Several players in gemstones market are also focusing their developmental strategies on mining, manufacturing, and processing of diamond. The report has profiled some of the prominent companies active in global gemstones market, including Gem Diamonds Limited, Rockwell Diamonds Inc., Debswana Diamond Company (Pty) Limited, Swarovski Group, Petra Diamonds Limited, Botswana Diamonds P.L.C, Stornoway Diamond Corporation, Arctic Star Exploration Corp., KGK Group, and others.
Market by Category
By Product Type :
- Diamond
- Emerald
- Ruby
- Sapphire
- Alexandrite
- Topaz
- Others
By End User :
- Jewellery & Ornaments
- Bangles
- Necklaces
- Pendants
- Earrings
- Rings
- Anklets
- Brooches
- Luxury Art
By Product Format :
- Natural
- Synthetic
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Summary of Key Statistics
1.3. Summary of Key Findings
1.4. Product Evolution Analysis
1.5. FMI Analysis and Recommendations
2. Market Overview
2.1. Market Taxonomy
2.2. Market Definition
3. The Massive Impact of the Crisis
3.1. An economic and labor market shock impacting the production, consumption and investments
3.2. Impact of declining global growth on unemployment based on three scenarios, world and income groups
3.3. Countries in action: How have countries been responding?
3.4. The Economic Impact of the COVID-19 Outbreak on Developing Asia
3.5. Impact of COVID-19 on the Gross Domestic Product of Selected Economies
3.6. Current Economic Projection – GDP/GVA and probable impact
3.7. Comparison of SAARs and market recovery, comparison to 2008 financial crisis and market recovery and forecast comparison for recovery of COVID 19
4. The 2020 Market Size of Gemstone
4.1. Previous forecast
4.2. Quarter by Quarter forecast, 2020
4.3. Projected Recovery Quarter
4.4. Change In Market Size by –
5. Key Market Trends
5.1. Patent Analysis – Gemstones
5.2. Key Development Trends
5.3. Future Prospects of Gemstone Market
5.4. Main Competitors- at Regional Level
5.5. Trade Scenario
6. Global Gemstone Market Demand Analysis 2017-2021 and Forecast 2022-2032
6.1. Historical Market Volume (‘000 Carats) Analysis, 2017-2021
6.2. Current and Future Market Volume (‘000 Carats) Projections, 2022-2032
6.3. Y-o-Y Growth Trend Analysis
TOC Continue…
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