The new report by Expert Market Research titled, ‘Global Gemstones Market Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the global gemstones market, assessing the market based on its segments like nature, type, product, application, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 6.1%
The global gemstones market is primarily driven by the growing demand from jewellery and ornament market. The rising living standards and the inflating disposable income and in developing countries are also the contributing factors to the market growth. The rising demand for men costume jewellery also adds to the growth of the industry. Moreover, the advancement in gemstone cutting and polishing technology and growing acceptance of synthetic gemstones are also expected to push the market growth in the forecast period.
Industry Definition and Major Segments
Gemstones are pieces of mineral crystals found naturally in the crust layer of earth. They could be precious or semi-precious in nature. Gemstones are known for their lustre, aesthetic value, and various other properties.
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Based on nature, the market is bifurcated into:
- Natural
- Synthetic
By type, the market is divided into:
- Precious
- Semi-Precious
On the basis of product, the industry is categorised into:
- Diamond
- Jade
- Sapphire
- Ruby
- Emerald
- Others
Based on application, the industry can be segmented into:
- Astrology
- Jewellery and Ornaments
- Luxury Arts
- Others
The regional markets for gemstones include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
North America and Europe are the largest shareholders in global gemstones market. This is attributed to rising demand for precious gemstones and high purchasing power of the customers. The Asia Pacific is projected to witness rapid growth in the forecast period. Factors such as increasing disposable income and ceremonial usage of ornaments aid in the growth in developing countries for the region. Additionally, expansion of banded retailers and rising consumer investments in the market are also contributing factors.
Key Market Players
The major players in the market are Gem Diamonds Limited, Swarovski Group, Bric Jewels Co Ltd, and Jindal Gems Jaipur, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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