Gemstones Market Size, Share, and Growth Forecast, 2025 - 2032

Gemstones Market Size and Trend Analysis

The global gemstones market size is likely to value at US$37.48 Bn in 2025 and reach US$52.67 Bn by 2032, growing at a CAGR of 5.0% during the forecast period from 2025 to 2032.

The gemstones market is experiencing robust growth, fueled by rising consumer demand for luxury jewelry, increasing interest in astrology, and growing investments in luxury art. Gemstones, valued for their rarity, aesthetic appeal, and cultural significance, are integral to jewelry, decorative arts, and spiritual practices. The surge in disposable income, particularly in emerging economies, alongside advancements in gemstone mining and processing technologies, supports market expansion.

Key Industry Highlights

• Leading Region: North America dominates the gemstones market with 38.18% market share in 2025, propelled by increasing demand for luxury jewelry and astrology-based products in the U.S. and Canada.
• Fastest-Growing Region: Asia Pacific is the fastest-growing region, driven by high jewelry consumption, cultural affinity for gemstones, and robust production in countries such as India and Thailand.
• Investment Plans: GJEPC has invested Rs.150 crore (around USD 17.3 million) in global promotion of diamonds and launched the INDRA (Indian Natural Diamond Retailer Alliance) with De-Beers to support independent retailers using AI-driven campaigns.
• Dominant Product Type: Sapphire holds nearly 30.5% of the market share, attributed to its durability, vibrant colors, and widespread use in high-end jewelry.
• Leading Application: Jewelry & Ornaments contributes over 45.12% of market revenue, driven by global demand for premium and custom-designed jewelry pieces.

Global Market Attribute	Key Insights
Gemstones Market Size (2025E)	US$ 37.48Bn
Market Value Forecast (2032F)	US$ 52.67Bn
Projected Growth (CAGR 2025 to 2032)	5.0%
Historical Market Growth (CAGR 2019 to 2024)	4.3%

Rising Demand for Luxury Jewelry and Customization Fuels Market Growth

The global gemstones market is witnessing robust expansion, driven by surging consumer demand for luxury jewelry and bespoke designs. High-value gemstones such as sapphires, rubies, and emeralds are increasingly sought after for their brilliance, rarity, and symbolism—qualities that make them essential in premium jewelry collections. In the Asia-Pacific region, particularly India, the demand for gemstones is closely tied to wedding and festive traditions. According to the India Brand Equity Foundation (IBEF), India is one of the largest consumers of gemstones, with its jewelry market estimated at $78.50 billion in 2021, further driving demand in both domestic and export segments.

In North America, the trend toward personalized and ethically sourced gemstone jewelry is accelerating. The U.S. luxury jewelry market, valued at $950.12 million in 2025 as per Statista, reflects a growing appetite for customized pieces that highlight individuality and craftsmanship. Brands such as Tiffany & Co. and Blue Nile reported increased gemstone sales in 2024, signaling a shift toward gemstone-centered designs.

High Costs and Ethical Sourcing Challenges Limit Market Expansion

The gemstone market faces challenges due to high mining and processing costs and growing concerns over ethical sourcing. Gemstone extraction is capital-intensive, with costs driven by labor, technology, and environmental compliance.

Ethical sourcing concerns, including labor exploitation and environmental degradation, further complicate market dynamics. In the De Beers Diamond Insight Report 2022, among over 18,000 U.S. women surveyed, 36% specifically look into the ethical credentials of a diamond jewelry brand before purchasing. Approximately 51% say they would not buy diamonds if they knew they were not ethically sourced.  Synthetic gemstones, offering cost-effective and ethical alternatives, are gaining traction, particularly in cost-sensitive markets. Limited standardization in gemstone grading and concerns over conflict gemstones in regions such as Africa hinder adoption, restraining overall market growth.

Growing Popularity of Astrology and Sustainable Practices

The gemstones market is witnessing promising growth opportunities driven by the rising popularity of astrology and increasing consumer demand for sustainable practices. Gemstones such as tanzanite, opal, and moonstone are widely favored in astrology for their believed spiritual and healing properties, fueling demand for personalized birthstone jewelry and spiritual accessories. The global astrology market continues to expand, directly impacting the gemstone industry as consumers seek meaningful and customized pieces aligned with their zodiac signs.

In parallel, sustainability has become a key focus in the gems and jewelry sector. Leading companies such as De Beers and Gem Diamonds are investing heavily in blockchain technology to enhance traceability and ensure the ethical sourcing of gemstones, addressing consumer concerns over origin transparency and environmental impact. This shift towards responsible sourcing is supported by regulatory frameworks such as the European Union’s Responsible Sourcing Framework, which encourages eco-friendly mining and supply chain transparency.

These trends offer manufacturers and retailers lucrative opportunities to innovate with eco-friendly gemstones and expand their offerings of astrology-inspired jewelry. By aligning with consumer values around spirituality and sustainability, the gemstones market is poised to capture new demand and drive long-term growth through 2032.

Category-wise Insights

By Product Type

• Sapphires hold approximately 30.5% of the gemstones market share in 2025, driven by their durability, vibrant colors, and versatility in jewelry applications. Widely used in engagement rings and luxury accessories, sapphires are favored for their hardness (9 on the Mohs scale) and availability in colors such as blue, pink, and yellow. Companies such as Tiffany & Co. and ALROSA lead with extensive sapphire portfolios, catering to demand in North America and the Asia Pacific.
• Tanzanite is the fastest-growing product type, propelled by its unique blue-violet hue and rising popularity in astrology and custom jewelry. Its limited availability, primarily sourced from Tanzania, enhances its exclusivity, driving demand in Europe and North America. Brands such as Blue Nile and SWAROVSKI are expanding tanzanite offerings to meet consumer interest in unique, high-value gemstones.

By Application

• The jewelry & ornaments segment accounts for over 45.12% of market revenue in 2025, driven by global demand for premium and custom-designed pieces. Gemstones, such as sapphires, rubies, and emeralds, are integral to engagement rings, necklaces, and luxury accessories. Major players, such as Tiffany & Co. and Gitanjali Gems, supply high-quality gemstone jewelry, fueled by rising disposable incomes and fashion trends in the Asia Pacific and North America.
• The astrology segment is the fastest-growing, driven by increasing consumer interest in birthstones and spiritual products. Gemstones, such as tanzanite, opal, and zircon, are popular for their astrological significance, particularly in India and the U.S. Companies, such as Manihar Group of Gems and Jewellery, are innovating with astrology-based jewelry, catering to growing demand in spiritual and wellness markets.

Regional Insights

North America Gemstones Market Trends

North America is a powerhouse in the global gemstones market, commanding a significant 38.18% market share in 2025, driven primarily by robust demand for luxury jewelry and astrology-inspired products across the U.S. and Canada. The U.S. jewelry market, valued at $950.12 million in 2025 according to Statista, heavily depends on gemstones such as sapphires, rubies, and emeralds to create exquisite, high-end, and bespoke designs. Customization and personalization have become key trends, with consumers seeking unique gemstones that reflect their individuality, spiritual beliefs, and style preferences.

In Canada, ethical sourcing is a major focus, with consumers and industry leaders increasingly prioritizing sustainably mined gemstones. The Responsible Jewellery Council (RJC) plays a pivotal role in promoting responsible practices across the supply chain, encouraging demand for gemstones that meet strict environmental and social standards. This ethical emphasis aligns well with the broader consumer shift towards sustainability.

Leading companies such as Blue Nile and Zales Corporation leverage their extensive distribution networks and strong brand reputations to dominate the luxury and astrology jewelry segments. Their ability to offer certified, ethically sourced gemstones and personalized pieces resonates strongly with North American consumers.

Asia Pacific Gemstones Market Trends

The Asia Pacific region is emerging as the fastest-growing market in the global gemstones industry, driven by a combination of high jewelry consumption, deep-rooted cultural affinity for gemstones, and strong production capabilities in key countries such as India and Thailand. India, in particular, plays a pivotal role as a global hub for gemstone cutting, polishing, and export. According to the Gem and Jewellery Export Promotion Council (GJEPC), India’s gem and jewelry exports reached an impressive $32.2 billion in 2024, underscoring its significance in the global supply chain.

Thailand complements this dominance with its renowned expertise in processing high-quality sapphires and rubies, enhancing the Asia Pacific’s reputation for superior craftsmanship and quality gemstones. This blend of production strength and skilled artisanship positions the region uniquely. Major players such as Gitanjali Gems and Manihar Group are expanding their market presence, leveraging both domestic demand and export opportunities. Government initiatives such as India’s Make in India campaign further bolster the sector by promoting local manufacturing and innovation, creating a favorable environment for growth.

With these combined factors, the Asia Pacific gemstones market is set to maintain its leadership and sustain robust growth through 2032, driven by rising consumer demand, cultural significance, and strong production infrastructure. In the global market.

Europe Gemstones Market Trends

Europe ranks as the second fastest-growing region in the global gemstones market, propelled by a combination of stringent quality standards, escalating demand for luxury jewelry, and a growing fascination with astrology, particularly in key markets such as the UK and France. The European jewelry sector is renowned for its emphasis on craftsmanship and excellence, which drives consistent demand for high-quality gemstones used in sophisticated and exclusive designs.

In the UK, the rising popularity of astrology has spurred demand for personalized birthstone jewelry and spiritually significant gemstones, creating new niches within the luxury segment. Meanwhile, France’s strong luxury market, led by iconic brands such as Tiffany & Co. and SWAROVSKI, significantly boosts gemstone consumption through their high-end collections, which blend tradition with contemporary trends. Innovation also drives the gemstones market, with companies such as De Beers investing in cutting-edge technologies such as blockchain for traceability and advanced gem certification processes. This focus on quality, sustainability, and innovation positions Europe to maintain steady growth and reinforce its status as a major player in the global gemstones industry through 2032.

Competitive Landscape

The global gemstones market is highly competitive and fragmented, with a mix of large multinational players and regional manufacturers. Companies such as De Beers, ALROSA, and Tiffany & Co. dominate through extensive product portfolios, global distribution networks, and investments in sustainable sourcing. Regional players, such as Manihar Group, focus on localized offerings in the Asia Pacific. Companies are leveraging advanced cutting technologies and blockchain-based traceability to enhance market share, driven by demand for high-quality and ethically sourced gemstones in jewelry and astrology applications.

Key Industry Developments

• March 2025: De Beers launched the Tracr platform expansion, a blockchain-based traceability system for gemstones, enhancing transparency in sourcing and boosting consumer confidence in ethical gemstones for jewelry applications. The integration of Sarine's capabilities with Tracr's blockchain infrastructure is set to provide a scalable and cost-effective solution for the diamond industry, promoting greater transparency and trust among consumers and stakeholders.
• July 2025: Rosec Jewels officially launched its comprehensive lab-grown gemstone collection. This collection features a wide range of ethically crafted jewelry, including lab-grown sapphires, rubies, emeralds, and moissanite pieces, all designed to meet the growing consumer demand for sustainable and customizable fine jewelry.

Companies Covered in Gemstones Market

• De Beers
• Blue Nile
• ALROSA
• Manihar Group Of Gems And Jewellery
• Tiffany & Co.
• Gitanjali Gems Ltd.
• Diamcor Mining Inc.
• Zales Corporation
• Gem Diamonds
• SWAROVSKI
• Petra Diamonds Limited
• Botswana Diamonds PLC
• Others