Newly revised data from the moissanite market research predicts the global market to expand at a robust CAGR of 6.2% over the decade. The survey also forecasts the market to attain a value of US$ 37.8 Mn in 2021, and expand 1.8X by the end of 2031. Top three industry players together account for nearly 43% of the global market share.
Find Out More about the Report Coverage
- Charles & Colvard, Ltd (Manufacturer)
- Cree Inc. (Raw Material Supplier)
Key Points Covered in Moissanite Market Survey:
- Market estimates and forecast 2016-2031
- Key drivers and restraints impacting market growth
- Segment-wise, country-wise, and region-wise analysis
- Competition mapping and benchmarking
- Brand share and market share analysis
- Key product innovations and regulatory climate
- COVID-19 Impact on moissanite sales and how to navigate
- Recommendation on key winning strategies
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Moissanite Market Landscape
Increasing demand for fine and premium jewelry is being seen of late, and moissanite has emerged as an impressive and affordable alternative for diamonds.
Charles & Colvard, a leading name in lab-created moissanite and lab-grown diamonds, recently announced the launch of its new direct-to-consumer website. Through this launch, the firm aims at asserting its dominance in the moissanite market.
Moissanite Outlet will be geared toward consumers who are seeking quality discounted products but with a premium touch, which is what Charles & Colvard is known for. With this step toward digital expansion, the company is aiming to expand its horizons and create a more effective shopping experience for moissanite.
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Moissanite is a lab-created gemstone that is generally perceived as a diamond substitute by consumers. Moissanite is composed of silicon carbide and is created through a thermal process that is patented by Charles & Colvard Ltd, the only manufacturer of moissanite across the globe. Moissanite has a refractive index of 2.65. Its hardness on Mohs scale is 9.5, which makes Moissanite highly scratch-resistant.
Moissanite is available at one-tenth price of the diamond. The differences between the two stones are pretty difficult to spot and can only be detected by a trained eye. Moissanite is also more durable and does not exhibit a yellowish color, unlike other diamond substitutes after a definite period of time.
The global moissanite market is anticipated to grow from US$ 37.8 Mn in 2021 to more than US$ 68 Mn by 2031, expanding at a CAGR of 6.2% during the forecast period (2021–2031).
Rising disposable income, coupled with increasing the inclination of consumers towards pocket-friendly luxurious jewelry products is expected to drive the global market growth over the forecast period. In addition, rising consumer adoption of moissanite as a gemstone similar to diamond is further expected to fuel the market growth.
North America moissanite market is expected to account for the highest CAGR of over the forecast period, followed by the European market.
Unlike moissanite, other synthetic diamonds such as cubic zirconia lose their luster after a certain period of time, due to which consumer preference in Europe is shifting towards the moissanite stone, which is expected to fuel the market growth across the region further over the forecast period.
Currently, Charles & Colvard, Ltd. is the only player operating in the market. Meanwhile, Cree Inc. and Norstel AB are the key raw material suppliers in the global moissanite market.
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FAQs Answered in Market Study
- What is the global moissanite market current worth?
The global moissanite industry presently enjoys a valuation of US$ 37.8 Mn.
- What are the estimated moissanite market statistics for the decade?
The global moissanite market, while registering a healthy CAGR of 6.2%, is anticipated to scale up to a valuation of US$ 68 Mn by end of 2031.
- At what CAGR did the moissanite industry progress over the past 5 years?
The market expanded steadily at a CAGR of 5.2% over the past 5 years.
- What is the market share of top 3 players in the moissanite landscape?
Charles & Colvard Ltd. Holds a huge share of 29.5%, Moissanite International holds 13.2%, and Amora holds 1% of the global market share.
- What is defining the demand for moissanite?
Moissanite industry insights suggest that increasing disposable income, rising consumer adoption of moissanite as a gemstone, and growing trend of precious stones and jewelry as a status symbol are some of the key factors driving its demand.
- Which countries are driving demand for moissanite?
The U.S., France, Germany, Sweden, and China are leading the demand for moissanite.
- Which are the main markets in the European region?
Germany, France, and the U.K. are the main countries in Europe for moissanite.
- Who are the key exporters of moissanite?
Wuzhou Changsheng Gems Co. Ltd., HRB Exports, Zauba Technologies Pvt Ltd, Ceylon Sapphire, and MDS Stone are leading exporters of moissanite.
- Which nations lead the production of moissanite?
Key producers of moissanite are Sweden, China, the U.S., and France.
- What trends are prevalent in the market for moissanite?
Rise in adoption of bigger and multi-colored moissanite stone-studded earnings is the hot trend in the industry.
- What is the outlook for the moissanite market in North America?
Rising disposable income and increasing inclination of consumers toward pocket-friendly luxurious jewelry products are driving demand for moissanite in the U.S.