Gemstones are treasured based on their different features. That is the primary reason gems & jewelry industry are the fastest growing segments. Investing in gemstones is getting hugely popular by informed buyers who understand the value of certified gemstones. When the stock market is declining and currency is losing value, gemstones tend to be a reliable store of value that is also compact, portable and private. Any high-quality gem may be worthy of investment.
The evolution of the gem trade has taken place over the centuries right along with society as a whole. Learning how to evaluate quality and corresponding market value has to be done at trade shows, jewelry stores, one-on-ones with gem dealers. The sooner you can focus on the type of gem collection you want to assemble the better.
Understanding the International Gemstone Market–
To understand the gem trade, you must first understand the biggest gemstone players in the world. Russia, Botswana and South Africa are the quality producer of diamonds in the world and for industrial diamond, Australia being a major producer. De Beers is the largest diamond miner in the world. China is the major producer of cubic zirconia gemstones. For colored stones, the site of origin is also key: Burmese pigeon blood rubies, cornflower-blue Kashmir sapphires, deep green Colombian emeralds.
Country-Wise Expected Growth Rate of Gemstone Industry–
According to National Retail Federation (NRF), Americans will shell out $5.2 billion on the category this year, up from $4.6 billion in 2018, the federation reported last week in its annual survey. Exporters are hoping the momentum in the American market will continue. The gems and jewelry market size will grow by USD 103.06 billion during 2019-2023. The gems and jewelry market research report further present in-depth insights into the growth prospects of the market across APAC, Europe, North America, MEA, and South America. Chinese consumers are now synonymous with luxury products, and this is true with gemstones and jewelry. The Chinese market is the new focus for luxury and glamour for many types of jewelry. Growing middle-class population has increased the demand for studded premium jewelry in the countries such as the U.S, Japan India among others are the major factors responsible for the market growth of gems & jewelry.
Manufacturers of gems & jewelry are more focused on developing new and innovative design to fulfill the changing needs and demands. Advancements in jewelry making process along with the availability of a range of certification bodies is also expected to propel the market for gems and jewelry.