Editor’s Note
This article highlights a promising forecast for the global gemstone and jewelry market, with colored gemstones identified as a key growth driver. The data from Future Market Insights points to significant expansion ahead, underscoring the sector’s resilience and evolving consumer trends.
According to the latest forecast from Future Market Insights (FMI), the global gemstone/jewelry market (including diamonds) is expected to grow by 72 percent to around 52 billion euros over the next ten years.
Even in the past five years, despite the pandemic, FMI market analysts recorded an annual growth rate of 5.6 percent for the global gemstone industry.
FMI does not publish figures for individual markets like Germany. However, Sneha Varghese, Senior Research Consultant at FMI, reveals her forecast for Germany in 2023 upon request: an increase of three to 3.5 percent for the colored gemstone and diamond market overall. Colored gemstones are clearly the growth driver. The reason: Primarily millennials, aged 25 to 42,
says the analyst.
The forecasts for Germany and Europe are somewhat more cautious due to the war in Ukraine. Generally, it holds true that Germany particularly benefits from the global growth in colored gemstones. Because, as Sneha Varghese states:
Almost 60 percent of the German gemstone industry’s revenue is generated in this region. Well-known luxury brands like Tiffany, Bulgari, and Cartier have their jewelry manufactured here and/or source gemstones from Idar-Oberstein.
The demand for colored gemstones is rising. How the specialist trade can utilize this opportunity, what investments are required, and where they can receive support from suppliers – we report on this in the cover story of the current issue of Blickpunkt Juwelier 08/2022 (starting on page 10).
