Industry Background:
Diamond and Gemstone are the minerals that are polished and cut into various shapes for making jewelry and ornaments. The use of diamonds and gemstone as a luxury and fashion statement has increased their demand in developed countries. Furthermore, the rising craze of diamond and gemstone from women is the booming the market growth.This growth is primarily driven by Rising Demand from Emerging Economies
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | Units |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Consumer Goods sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as CARTIER International SNC (France), Harry Winston, Inc. (United States), Tiffany & Co. (United States), Vab Cleef and Arpels (France), Graff (United Kingdom), Hearts On Fire Company, LLC (United States), Chow Tai Fook (China), Petra Diamonds Ltd (United Kingdom), Gemfields Group Ltd (United Kingdom), De Beers Group (United Kingdom) and Alrosa (Russia), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In November 2023, Chow Tai Fook Jewellery Group, one of the largest gemological jewelry groups in the world, announced a strategic partnership with De Beers Group, a global leader in diamond mining and marketing. The partnership will focus on promoting sustainable diamond mining practices and developing new diamond jewelry products.
In November 2023, De Beers Group launched Lightbox Jewelry, a new diamond brand aimed at millennials and Gen Z consumers. The brand will offer a range of lab-grown diamonds at more affordable prices than traditional mined diamonds.In Diamond and Gemstone Market, it has been observed that most of the companies are upgrading or introducing innovative products. They rely on strategies such as mergers & acquisitions, product development, geographical expansion, technological innovation and sourcing strategies to enhance their market share.
Influencing Trend:
The Popularity of Online Shopping
Market Growth Drivers:
Rising Demand from Emerging Economies and Increasing Demand for Diamond and Gemstone Jewellery
Challenges:
Synthetic Gemstones and Lab-Grown Diamonds
Restraints:
Increasing Labor Costs and Fluctuation in Diamond and Gemstone Prices
Opportunities:
Preference for Branded Ornaments and Adoption of Kimberly Process Certification System
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Diamond and Gemstone Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Diamond and Gemstone Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Diamond and Gemstone players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Diamond and Gemstone Study Sheds Light on
The Diamond and Gemstone Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Diamond and Gemstone industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Diamond and Gemstone industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.