Gemstone statistics are a valuable resource for anyone who wants to be a part of the gemstone industry.
- The gemstone market in 2022 was worth $30,779 million
- In 2032 it’s projected that the gemstone market will be worth $53 million
- The CAGR the gemstone market grew 5.6% between 2017-2021
- 85% of gemstones go into jewellery
- Diamonds make up 80% of the gemstone market
- 85% of all gemstones sold are now synthetic
Gemstones, those beloved coloured stones so beloved by generations gone by, have made a significant comeback over the last few years. With their muted and subtle earthy colours, be they iridescent, opaque or clear as a mountain stream, gemstones are here to stay for the foreseeable future.
Join us as we look at the facts and figures for the gemstone industry in 2022 and the trends to come in 2023.
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2022 Gemstone Market Figures
According to data released by Future Market Insights (FMI), the gemstone market was calculated at $30,779 million for 2022. The market is anticipated to reach $53 million by 2032.
Since 2017, the gemstone market has grown by a CAGR of 5.6% up until 2021. Gemstones hold 50% of the global jewellery market.
FMI also reports that 85% of overall gemstone sales go into jewellery and ornaments, with the majority being rings.
Diamonds hold 80% of overall gemstone sales, and analysts report that diamonds will remain the best-selling gemstone in future years. It also seems that over 85% of gemstones sold are synthetic. These synthetic facsimiles are more affordable than natural gemstones and are readily available.
High-end gemstones are preferred by those with the capital to afford them, and the report states that Asian consumers will form a large part of this consumer base in the future.
Top Markets For Gemstones
North America will remain the top market for international gemstones, while there is also high demand in Europe for diamonds and jewellery with precious stones. The Asia Pacific rim is not only a future growth point for gemstones. The region is also a source of high quality stones that are often very sought after. Some significant gemstone discoveries have taken place in the region.
According to FMI’s report, China holds the top position in the APAC gemstones market. China is followed by India and Japan.
The top gemstone companies globally include Gem Diamonds Ltd, Jindal Gems Jaipur, Swarovski Group and Bric Jewels Co.
Reason For Growth In The Gemstones Market
There are a number of reasons for the growth in the gemstone market, but the following are the main factors driving growth:
- Increasing demand for luxury goods sector as incomes rise
- The growth in the number of ultra-wealthy individuals
- Increasing demand from developing regions
- Rising demand for diamonds and gemstones
- Increasing use of diamonds and gemstones in jewellery.
Let’s take a look at some of the trends around gemstones in 2022.
Top 2022 & 2023 Gemstone Trends
The gemstone trends in 2022 and leading into 2023 include the following:
- Iridescence
Opaque and milky stones give one a sense of wonder when they catch the light and reward the viewer with a kaleidoscope of colours and hues. Stones such as Rainbow Moonstone, White Opal, Labradorite and Boulder Opal were all big in 2022.
- Blushing Pink
A colour which was fashionable at the turn of the century has returned as millennial pink in the jargon of today’s fashion designers. Blushing pink stones include Peruvian Pink Opal, Rose Quartz, Marropino Morganite and Pink Tourmaline.
Associated with feminine energy, the subtle pink of Marropino Morganite has risen in popularity for a few years now with solitaire rings being highly sought after.
- Turquoise Reboot
The blue-green turquoise colour is as popular as ever. While turquoise is often associated with crafted indigenous jewellery, other blue-green gemstones such as Kyanite, Topaz, Aquamarine and Amazonite are all very popular.
- Green
Green remains a perennial favourite with Pantone choosing it as the colour of the year for 2022. With greenery and house plants making a huge comeback currently, green gemstones are big.
In colours ranging from the lemony green of Zoisite to the subtle green of Jade, the opulence of Emerald and the deep yellowy green of Peridot, Green is the new black.
- Deep Black
Dramatic and dark gemstones have a way of complimenting any colour and are as popular as ever in 2022. Black gemstones include Black Jade, Onyx, Black Tourmaline and Obsidian.
- Colourless Crystals
Colourless crystals can be either gentle and lovely or powerful and bright. They bring light and brilliance to any ensemble. Colourless gemstones include Diamond, Sapphire, Quartz, Topaz and Zircon.
Looking Forward To 2023
Pink diamonds, rubies, sapphires and emeralds are only going to rise in demand and value, according to market watchers. And gemstones and semi-precious stones will be big in 2023, according to Jewelili. The chunkier and more multi-coloured, the better.
Bright-hued gemstones in all the colours of the rainbow in bracelets and rings, for example, will be seen on all the fashion runways in 2023 if recent fashion weeks are anything to go by.
Even beaded necklaces are back, with garnet and smoky quartz gemstone beads becoming more popular. Gemstone pendants are still in vogue, as are cuff bracelets and oversized rings.
People are also seeking to stand out from the crowd in their choice of engagement rings. No longer settling for the traditional ring, people are choosing to mix and match vibrant gemstones rather than the traditional diamond ring.
With consumers flocking towards multiple stone choices in their jewellery, the demand for gemstones is set for a bright future in 2023.
Whether you believe your gemstone to hold mystical properties, or you wear them as talismans - gemstones are no longer just for royalty. With the increasing availability of gemstones such as Moissanite, their brilliance is just as good as a diamond’s and they’re easier on the pocket. Think Amethyst, Blue Topaz, Garnet, Aquamarine or Peridot - make 2023 a year of colour with your choice of gemstones.
Nathan has always been captivated by numbers and patterns. With a Master’s degree in Statistics, he’s honed his skills to decipher complex data sets and discern market trends.
Over the past decade, Nathan has worked with various firms compiling and analyzing industry spending figures to forecast market movements.