Global Gemstones Market Size, Share, and Trends Analysis Report – Industry Overview and Forecast to 2032

Gemstones Market Size

• The global gemstones market size was valued at USD 33.96 billion in 2024 and is expected to reach USD 49.80 billion by 2032, at a CAGR of 4.90% during the forecast period
• The market growth is largely fueled by increasing consumer interest in sustainable and ethically sourced gemstones, alongside rising disposable incomes and changing lifestyle preferences that favor luxury and personalized jewelry
• Furthermore, the expanding use of gemstones in astrology, wellness, and fashion, coupled with the growing influence of e-commerce and digital marketing, is amplifying consumer access and awareness. These converging factors are accelerating the demand for both natural and lab-grown gemstones, thereby significantly boosting the industry's growth

Gemstones Market Analysis

• Gemstones are naturally occurring or synthetically created minerals or rocks that are cut and polished for use in jewelry, ornaments, astrology, and investment. They include a wide range of types such as diamonds, rubies, emeralds, sapphires, and semi-precious stones, each valued for their rarity, color, and symbolic significance
• The demand for gemstones is primarily driven by their cultural and spiritual relevance, increasing popularity in fashion and personalized accessories, and growing adoption of lab-grown alternatives among ethically and environmentally conscious consumers
• North America dominated gemstones market with a share of 36.59% in 2024, due to a strong demand for high-quality natural and precious stones in the luxury jewelry sector
• Asia-Pacific is expected to be the fastest growing region in the gemstones market during the forecast period due to increasing affluence, urbanization, and cultural significance of gemstones in countries such as China, India, and Japan
• Natural segment dominated the market with a market share of 67.9% in 2024, due to the enduring value, rarity, and cultural significance of naturally occurring gemstones. High demand from the jewelry industry and collectors continues to bolster this segment, especially for traditionally revered stones such as diamonds, rubies, and emeralds. The appeal of authenticity, unique inclusions, and traceable origin has further enhanced the desirability of natural gemstones in both retail and auction markets

Report Scope and Gemstones Market Segmentation

Gemstones Market Trends

“Rising Popularity of Colored Gemstones”

• There is a notable surge in demand for colored gemstones—such as emeralds, sapphires, and rubies—driven by evolving fashion trends, celebrity endorsements, and a consumer desire for unique, vibrant accessories that stand apart from traditional diamonds
  • For instance, emeralds and sapphires led colored gemstone demand in 2024, representing approximately 58% of total demand, with India and China being major markets for both production and consumption, and high-profile auctions spotlighting rare colored gems
• The luxury and fine jewelry sector continues to elevate colored gemstone profiles, with brands and designers launching bespoke collections that cater to the rising appetite for distinctive, high-value pieces
• Laboratory-grown colored gemstones are gaining prominence, growing by 18% year-over-year in 2024, fueled by consumer demand for eco-friendly, affordable, and ethically sourced alternatives; these stones are increasingly found in premium and mass-market jewelry
• Technological advances in gemstone cutting, polishing, and setting are allowing new design possibilities and maximizing the color brilliance of both natural and lab-created gems, further stimulating consumer enthusiasm
• The expansion of online gemstone marketplaces and digital retail channels has made colored gemstones more accessible, offering buyers greater transparency, authenticity certification, and a wider selection than traditional retail

Gemstones Market Dynamics

Driver

“Increasing Interest in Unique Accessories”

• Consumers are showing a growing preference for jewelry and accessories that emphasize individuality, cultural symbolism, and personal expression, fueling demand for bespoke and custom-designed gemstone adornments
  • For instance, 65% of jewelry buyers in 2024 expressed a preference for gemstones with certification of authenticity and traceability, reflecting a shift toward unique, meaningful, and ethically sourced purchases
• The booming popularity of personalized jewelry is contributing to higher sales of rare and unusual gemstones, as buyers seek statement pieces that reflect their identities and lifestyles
• Social media influencers, fashion icons, and celebrities regularly showcase unconventional and custom gemstone accessories, broadening appeal and driving trends among younger, style-conscious demographics
• Expansion of gemstone use beyond jewelry—including in tech, decorative home goods, and healing products—continues to diversify demand and introduce gems to non-traditional buyers

Restraint/Challenge

“Environmental Impact of Gemstone Mining Operations”

• Environmental concerns surrounding traditional gemstone mining—including ecosystem disruption, water contamination, and land degradation—have intensified scrutiny from consumers, NGOs, and regulators
  • For instance, nearly 30% of mined gemstones globally face issues related to unregulated or illegal mining, which hampers efforts to ensure sustainability and ethical sourcing in the supply chain
• Mining operations in key supplying regions across Africa, Asia, and South America are under pressure to improve transparency and environmental stewardship to maintain exports to increasingly eco-aware markets
• Brands and jewelry houses adopting stringent sustainability standards or third-party certification for ethically sourced stones are more likely to gain consumer trust but also face higher compliance costs and operational complexity
• The market’s shift toward lab-grown gemstones and blockchain-based traceability—such as the Gemfields blockchain platform launched in 2024 for tracking emeralds and rubies—reflects a broader push to address ecological challenges and bolster consumer confidence in the provenance of gemstones

Gemstones Market Scope

The market is segmented on the basis of nature, type, product, and end use.

• By Nature

On the basis of nature, the gemstones market is segmented into natural and synthetic. The natural segment dominated the largest market revenue share of 67.9% in 2024, primarily due to the enduring value, rarity, and cultural significance of naturally occurring gemstones. High demand from the jewelry industry and collectors continues to bolster this segment, especially for traditionally revered stones such as diamonds, rubies, and emeralds. The appeal of authenticity, unique inclusions, and traceable origin has further enhanced the desirability of natural gemstones in both retail and auction markets.

The synthetic segment is anticipated to witness the fastest growth rate from 2025 to 2032, supported by advancements in gem-quality synthesis techniques such as HPHT and CVD. These technologies enable the production of high-purity gemstones at lower costs, making them increasingly popular among price-sensitive consumers and eco-conscious buyers. The rising trend of sustainable and ethical jewelry is also accelerating the adoption of lab-created stones, especially in urban demographics seeking transparency in sourcing and value for money.

• By Type

On the basis of type, the gemstones market is categorized into precious and semi-precious stones. The precious stones segment held the largest revenue share of 60.3% in 2024, owing to strong global demand for high-value gems such as diamonds, sapphires, rubies, and emeralds. These stones are traditionally associated with luxury, durability, and investment-grade quality, making them central to premium jewelry collections. Their symbolic significance in engagements, weddings, and cultural traditions has ensured continued market dominance.

The semi-precious stones segment is projected to grow at the fastest CAGR through 2032, driven by increasing usage in fashion jewelry and wellness applications. With a wide range of colors, patterns, and metaphysical attributes, semi-precious stones such as amethyst, garnet, and citrine have gained traction among younger consumers and artisans. The affordability and design flexibility of semi-precious gems are making them integral to contemporary jewelry trends and alternative healing practices.

• By Product

On the basis of product, the market is segmented into diamond, emerald, ruby, sapphire, alexandrite, topaz, and others. The diamond segment dominated the market with a share of 46.6% in 2024, benefiting from its strong cultural association with love, status, and resilience. High consumer spending on engagement rings and branded diamond jewelry, particularly in North America and Asia-Pacific, has reinforced its market leadership. Innovations in diamond grading and traceability have also strengthened consumer confidence and brand positioning.

The alexandrite segment is expected to witness the fastest growth rate from 2025 to 2032, fueled by its rarity, unique color-changing property, and growing appeal in customized and luxury jewelry. As consumers seek distinctive and unconventional gemstones, alexandrite's limited availability and mystique are contributing to a surge in demand, particularly in premium markets and collector circles.

• By End Use

On the basis of end use, the gemstones market is segmented into astrology, jewelry and ornaments, luxury arts, and others. The jewelry and ornaments segment accounted for the largest market revenue share in 2024, underpinned by the global demand for adornment across a wide spectrum of age groups and cultures. Gemstones are central to personal expression, celebrations, and traditional ceremonies, driving consistent demand in rings, necklaces, earrings, and brooches. Branded retail, online sales platforms, and bespoke customization options have further propelled this segment.

The astrology segment is expected to grow at the fastest pace through 2032, supported by rising interest in spiritual wellness and planetary influence on personal well-being. Consumers in regions such as India, the Middle East, and Southeast Asia are increasingly purchasing gemstones aligned with astrological charts and Vedic principles. The belief in the healing and destiny-altering power of stones such as blue sapphire, yellow sapphire, and coral is amplifying sales within this segment.

Gemstones Market Regional Analysis

• North America dominated the gemstones market with the largest revenue share of 36.59% in 2024, driven by a strong demand for high-quality natural and precious stones in the luxury jewelry sector
• The region benefits from a mature consumer base with a preference for certified gemstones, including diamonds and emeralds, often purchased for weddings, investment, and personal collection
• This dominance is further reinforced by a well-established retail infrastructure, high consumer spending power, and strong demand for bespoke jewelry and ethically sourced stones

U.S. Gemstones Market Insight

The U.S. gemstones market captured the largest revenue share within North America in 2024, supported by rising disposable incomes and a growing inclination toward customized and branded jewelry. Diamonds continue to dominate U.S. preferences, especially for engagement rings and fine jewelry. In addition, the market is witnessing rising interest in colored gemstones and lab-grown alternatives, driven by sustainability concerns and younger consumers’ preference for ethical sourcing and individuality.

Europe Gemstones Market Insight

The Europe gemstones market is projected to witness steady growth over the forecast period, fueled by rising demand for luxury goods, especially in countries such as the U.K., Germany, France, and Italy. The European market values craftsmanship and heritage in gemstone jewelry, which drives strong sales through high-end retail and auction houses. Moreover, increasing awareness around ethical sourcing and sustainable gemstones is influencing consumer buying behavior across the region.

U.K. Gemstones Market Insight

The U.K. gemstones market is expected to grow at a robust CAGR during the forecast period, led by increasing demand for ethical and traceable gemstones in the fine jewelry segment. A rising number of consumers, especially millennials, are favoring responsibly sourced diamonds and colored gemstones for both fashion and astrological purposes. The country’s thriving e-commerce jewelry platforms and luxury retail presence further support sustained market growth.

Germany Gemstones Market Insight

Germany’s gemstones market is expanding steadily, driven by high awareness of gemstone certification and strong demand for both investment-grade stones and artisanal jewelry. Consumers in Germany exhibit a preference for durability and authenticity, often favoring diamonds, sapphires, and rubies. The market is also benefiting from a surge in popularity of customized gemstone jewelry and interest in regional gem fairs and exhibitions.

Asia-Pacific Gemstones Market Insight

The Asia-Pacific gemstones market is expected to grow at the fastest CAGR from 2025 to 2032, driven by increasing affluence, urbanization, and cultural significance of gemstones in countries such as China, India, and Japan. The demand spans across both fine and spiritual uses, with significant traction in wedding jewelry, astrology, and investment. Government support for gemstone processing hubs and the expansion of organized retail and online platforms is contributing to rapid market penetration.

Japan Gemstones Market Insight

The Japan gemstones market is experiencing growth due to increasing interest in high-quality and rare stones, particularly for luxury gifting and personal use. The cultural emphasis on minimalism and quality fuels demand for refined gemstone jewelry. In addition, gemstones tied to birthstones or spiritual significance, such as jade and pearl, continue to hold popularity, supported by Japan’s tradition-rich consumer base and premium retail environment.

China Gemstones Market Insight

China led the Asia-Pacific region in 2024 with the largest market share in gemstones, driven by the rising middle class, gift-giving culture, and growing interest in personalized luxury items. The demand for diamonds and jade remains strong, while younger consumers are also embracing sapphires, rubies, and synthetic gemstones for affordable luxury. Government support for domestic gemstone manufacturing and a thriving e-commerce market are accelerating the sector’s growth.

Gemstones Market Share

The gemstones industry is primarily led by well-established companies, including:

• Gem Diamonds (U.K.)
• SWAROVSKI (Austria)
• JINDAL GEMS JAIPUR (India)
• Anglo American plc (U.K.)
• GEMFIELDS (U.K.)
• Petra Diamonds Limited (U.K.)
• PJSC ALROSA (Russia)
• Rio Tinto (U.K.)
• Debswana (South Africa)
• Lucara Diamond (Canada)
• Botswana Diamonds PLC (Ireland)
• Fura Gems INC. (Canada)
• Pala International (U.S.)
• KGK Group (India)
• Trans Hex Group (Pty) Ltd (South Africa)
• Arctic Star Exploration Corp. (Canada)
• Blue Nile Inc. (U.S.)
• Tiffany & Co. (U.S.)
• STORNOWAY DIAMOND (U.S)

Latest Developments in Global Gemstones Market

• In January 2025, De Beers Launches Lab-Grown Diamond Collection. De Beers’ introduction of a lab-grown diamond collection in January 2025 is expected to significantly influence the gemstones market by expanding consumer access to affordable and sustainable luxury. The move addresses rising demand for ethically sourced alternatives, positioning lab-grown diamonds as a competitive segment and reinforcing De Beers’ presence in the evolving preferences of eco-conscious and value-driven consumers.
• In March 2024, Gemfields Expands Ethical Gemstone Sourcing Initiatives. Gemfields’ expansion of its ethical sourcing initiatives in March 2024 is likely to strengthen consumer trust in the colored gemstones segment. By enhancing transparency and traceability across its supply chain, the company is setting a benchmark for responsible mining practices, which is expected to positively impact market growth by appealing to ethically-minded buyers and sustainability-focused retailers.
• In November 2022, The House of Meraki x Gemfields J'aime collection was released after Gemfields announced their cooperation. Beautiful jewelry from the J'aime line is made entirely of emeralds from Zambia's Kagem mine. This collaboration enhances market growth by leveraging Gemfields' ethically sourced gemstones to attract environmentally-conscious consumers and expand market reach
• In July 2022, Margery Hirschey, a New York-based designer, once more collaborated with Gemfields on a seductive new collection focused on rubies and motivated by the historic city of Barcelona. Mozambique rubies from Gemfields' Montepuez mine are the ideal addition to this style of ornamentation. This partnership enhances market growth by combining unique design aesthetics with ethically sourced gemstones, appealing to a broader audience of jewelry enthusiasts
• In May 2022, an exceptional pair of Mozambique rubies were introduced by Gemfields. The Gemfields' ruby auction included this remarkable pair of Mozambique rubies, measuring 61.50 carats in the uncut. This event boosts market growth by attracting collectors and investors seeking premium gemstones for exclusive jewelry creations

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