Editor’s Note
This article provides a snapshot of the global gem and jewelry market’s projected growth, highlighting a steady expansion from $370 million in 2025 to an estimated $590 million by 2035. The figures underscore the sector’s resilience and sustained consumer demand.
The global gem and jewelry market was valued at $370 million in 2025 and is projected to reach $390 million in 2026, increasing further to $410 million in 2027. Over the long-term forecast period, the market is expected to expand steadily, reaching $590 million in 2035, registering a compound annual growth rate (CAGR) of 4.7% from 2026 to 2035. Market growth is supported by sustained consumer demand for precious metals and gemstones, where gold maintains a dominant share of approximately 40% and diamonds account for nearly 30% of the total market value. Women continue to drive close to 75% of overall demand, reflecting strong purchasing activity in bridal, fashion, and luxury segments. Offline retail channels remain the primary sales avenue, contributing roughly 82% to 84% of global revenue, while Asia-Pacific leads the market with around a 45% share, supported by cultural affinity, rising disposable income, and a robust jewelry manufacturing ecosystem.
The US gem and jewelry market shows steady growth, accounting for about 16% of the global share. Diamonds represent nearly 60% of engagement ring sales in the US, while gold captures 25% of jewelry demand. Online channels contribute 18% of total sales in the country, and women account for nearly 70% of purchases. The growing interest in lab-grown diamonds, which now represent 20% of diamond sales, highlights the shift toward sustainable and affordable alternatives in the US market.
Market Size: Valued at $370 million in 2025, projected to reach $0.39 billion in 2026 and $590 million in 2035 at a CAGR of 4.7%.
Growth Drivers: Gold holds 40%, diamonds 30%, women drive 75%, and offline retail accounts for 82% of global demand.
Trends: Lab-grown diamonds account for 17% to 25%, online channels 16% to 18%, men’s jewelry 25% to 30%, platinum jewelry represents 12% of total sales.
Key Players: Chow Tai Fook Jewelry, LVMH, Tiffany & Co., Rajesh Exports, Cartier, and more.
Regional Outlook: Asia-Pacific holds 45% of the gem and jewelry market, led by cultural demand and retail expansion. Followed by North America with 25%, driven by luxury spending. Europe captures 20%, driven by premium brands. Middle East and Africa represent 10%, supported by gold dominance.
Challenges: Raw material costs fluctuate 28% to 32%, offline dependency 82%, younger consumers’ 40% online preference mismatched with supply.
Industry Impact: Premium jewelry 35%, fashion jewelry 30%, customization 22%, sustainable products preferred by 40% of consumers globally.
Recent Developments: Retail expansion 12%, online growth 28%, lightweight gold products with 15% weight reduction, Middle East demand driven 65% by gold.
The gem and jewelry market continues to evolve through sustainability, digital expansion, and cultural influence. Lab-grown diamonds contribute nearly 20% of demand, online retail captures around 18%, and premium designs represent over 30%. With Asia-Pacific holding a 45% share, traditions, fashion, and innovation collectively shape this market’s dynamic growth.
The gem and jewelry market shows striking shifts: rings capture approximately 33% to 34% of product demand and precious metals dominate nearly 63% of material preference, indicating enduring popularity of classic adornments. Women still represent about 75% of end-user interest, while offline retail continues to dominate, contributing 82% to 84% of sales. Geographically, Asia-Pacific holds between 39% and 60% market share, depending on segmentation focus, highlighting its strong regional influence. Furthermore, synthetic diamonds now account for around 17% to 25% of global diamond jewelry demand, and men’s jewelry is growing into a notable segment with nearly 25% to 30% of consumer spending. These trends underscore the blend of tradition and innovation shaping a luxurious yet evolving market.
OPPORTUNITY
Growth of Lab-Grown and Fashion-Oriented Jewelry
Lab-grown diamonds now represent approximately 17% to 25% of diamond jewelry demand, reflecting a strong consumer shift toward sustainable and affordable alternatives. The men’s segment is expanding, capturing around 25-30% of spending, showing growing inclusion and diversification. These evolving preferences offer fertile ground for innovation and new offerings that resonate with younger and ethically-minded consumers.
DRIVERS
Unwavering Dominance of Asia-Pacific in Consumption
