Moissanite Market

Market Snapshot

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.

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

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.

Market Overview

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.

Market Segmentation: