The gemstones global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Gemstones Market, 2024 report by The Business Research Company offers
comprehensive insights into the current state of the market and highlights
future growth opportunities.
Market Size -
The gemstones market size has grown strongly in recent years. It will grow from
$29.46 billion in 2023 to $31.32 billion in 2024 at a compound annual growth
rate (CAGR) of 6.3%. The growth in the historic period can be attributed to
rise in royal patronage, rise in cultural symbolism, increase in trade routes,
surge in gemstone discoveries, rise in jewelry craftsmanship evolution, and
shifts in fashion trends.
The gemstones market size is expected to see strong growth in the next few
years. It will grow to $40.22 billion in 2028 at a compound annual growth rate
(CAGR) of 6.4%. The growth in the forecast period can be attributed to
increasing demand for sustainable and ethically sourced gems, rising popularity
of personalized and custom-designed jewelry, growing adoption of gemstones in
technological applications such as electronics, expanding affluent consumer
base in emerging markets, and evolving fashion trends. Major trends in the
forecast period include adoption of lab-grown gemstone, advancements in
gemstone cutting and polishing techniques, innovation in gemstone setting
techniques, and innovations in jewelry products.
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Scope Of Gemstones Market
The Business Research Company's reports encompass a wide range of information,
including:
1. Market Size (Historic and Forecast): Analysis of the market's historical
performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market
landscape.
4. Key Segments: Breakdown of the market into its primary segments and their
respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and
geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting
the market.
Gemstones Market Overview
Market Drivers -
The rise in the use of ornaments is expected to propel the growth of the
gemstone market going forward. Ornaments are decorative ornaments that improve
personal appearance, impart cultural symbolism, and represent social standing.
The use of ornaments is increasing with disposable incomes, changing fashion
trends, and a growing desire for personal expression and cultural significance
in accessories. Gemstones are used in ornaments to enhance the beauty and value
of various decorative items. Its unique colors, brilliance, and rarity make
them highly sought after for personal adornment and cultural expression. For
instance, according to the Ministry of Commerce & Industry, an India-based
government agency, India's gems and jewelry exports in December 2023 improved
by 14.07% to $2.90 Billion from $2.54 Billion in December 2022. Therefore, the
rise in the use of ornaments is driving the growth of the gemstone market.
Market Trends -
Major companies operating in the gemstone market are increasingly turning to
artificial intelligence (AI) technology to revolutionize various aspects of the
industry. AI-powered tools in the gemstone market enhance mining, grading,
cutting, and sales processes, bringing significant benefits in terms of
efficiency, accuracy, and customer satisfaction. For instance, in March 2024,
Star Gems, a Georgia-based design and manufacturing company, launched three
cutting-edge AI assistants - GemArt, JewelBot, and VoiceGem, to help jewelers
streamline operations and enhance customer engagement. GemArt is a cutting-edge
AI tool designed to generate and refine jewelry designs based on user prompts
and criteria. JewelBot is an AI assistant that facilitates the rapid generation
of various jewelry-related content. It can create sales training materials,
product information, and store manuals, ensuring that jewelers can access
consistent and informative content. VoiceGem addresses the challenge of
language barriers in the global market by providing real-time speech
translation. This AI-powered language translation tool enables jewelers to
communicate seamlessly with international customers, enhancing customer service
and expanding market reach.
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
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Regional Insights -
North America was the largest region in the gemstones market in 2023.
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.
Key Companies -
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
Table of Contents
1. Executive Summary
2. Gemstones Market Report Structure
3. Gemstones Market Trends And Strategies
4. Gemstones Market – Macro Economic Scenario
5. Gemstones Market Size And Growth
…..
27. Gemstones Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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