Global Gemstone Market Set For 6.3% Growth, Reaching $42.76 Billion By 2029

The Business Research Company's Global Gemstone Market Set For 6.3% Growth, Reaching $42.76 Billion By 2029

LONDON, GREATER LONDON, UNITED KINGDOM, June 25, 2025 /EINPresswire.com/ -- The Business Research Company’s Latest Report Explores Market Driver, Trends, Regional Insights - Market Sizing & Forecasts Through 2034.

The global gemstones market is experiencing robust growth, projected to leap from $31.32 billion in 2024 to $33.43 billion in 2025, indicating a compound annual growth rate CAGR of 6.7%. This rise is fueled by a combination of increased royal patronage, cultural symbolism, trade routes expansions, new gemstone findings, the evolution of jewelry craftsmanship, and shifting fashion trends.

What Is The Projected Future Growth Of The Gemstone Market Size?

Industry forecasts predict more buoyant gemstone market growth with an estimated market value of $42.76 billion by 2029. This rise from 2024 figures represents a strong CAGR of 6.3%. The anticipated growth stems from a surging demand for ethically sourced and sustainable gems. Increasing consumer preference for personalized and custom-designed jewelry, adoption of gemstones in technological solutions like electronics, an expanding affluent consumer base in developing markets, and evolving fashion trends contribute to this projection. A significant trend predicted for the forecast period is the preference for lab-grown gemstones, facilitated by advancements in cutting and polishing techniques, innovative gemstone setting approaches, and fresh innovations in jewelry products.

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What Are The Key Drivers Propelling The Growth Of The Gemstone Market?
Reflecting on key growth drivers, the rise in the usage of ornaments plays a key role in propelling the gemstone market forward. Ornaments, decorative items that enhance personal appearance, signify cultural symbolism, and designate social status, are seeing escalating use. As disposable incomes rise, fashion trends shift, and the desire for personal expression and cultural significance in accessories grows, so does the use of gemstones in ornaments. The unique colors, brilliance, and rarity of gemstones make them highly sought-after for personal decoration and cultural expression.

What Key Player Strategies Are Driving The Gemstone Market?
The competitive landscape in the gemstone market is populated by major companies such as the 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. These influential industry giants are leveraging artificial intelligence AI to revolutionize different sectors of the industry. AI-powered tools are enhancing the mining, grading, cutting, and sales processes in the gemstones market, delivering substantial benefits in terms of efficiency, accuracy, and customer satisfaction.

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How Is The Gemstone Market Segmented?
Delving into the market segments, the gemstone market can be broken down as follows:

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
Subsections are:
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

What Are The Regional Insights In The Gemstone Market?
Shifting our lenses to focus on the geographical dynamics, North America was the largest region in the gemstone market in 2024. However, during the forecast period, expect to see Asia-Pacific as the fastest-growing market. The regions considered in this market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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