The world diamond and gemstone market are represented by mining and trade in rough diamonds and coloured gemstones. The bulk of world global mining and trade is concentrated in nine countries with their share of the global production in physical terms as high as 99%.
The popularity of coloured gemstones (non-diamond) has soared in recent years. Prices have increased 100% in the last decade according to a report from The National Resource Governance Institute. Yet the sector, because it is dominated by informal operators and governments, suffers from under-capitalisation and a lack of technical expertise.
Immense opportunities are squandered due to inefficiency. Value is drained away through graft, corruption and waste.
Large finds go undeveloped due to lack of investment!
In the world of precious stones, diamonds dominate. Sales of diamond jewellery exceed those of every other precious stone, and diamonds make up more than 50% of global precious stone sales per year.
Yet the idea that diamonds are intrinsically more valuable than coloured gemstones is a myth. In reality, some coloured gems are far rarer than diamonds. A black opal, for instance, can realise as much as $20,000 per carat, which is twice as much as even the finest cut diamond at $9,300 per carat. While coloured gems are found through miming diamonds can be manufactured.
As per newly released data by future market insights (FMI), the gemstone market is estimated at $30,779,100 in 2022 and is projected to reach $53,146,200 by 2032.
The market grew at a compound annual growth rate (CAGR) of 5.6% from 2017 to 2021.
The gemstone market holds 50% of the share in the overall gems and jewellery market.
Attribute Details
Estimated Gemstone Market Size 2022 $30,779,100
Projected Gemstone (2032) Market Size $53,146,200
Value (CAGR) 5.6%
Gemstone Market Top Players Share in 2021 25-30%
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