Certified Gemstones Market Report 2024

The certified gemstones market size has grown strongly in recent years. It will grow from $9.44 billion in 2023 to $10 billion in 2024 at a compound annual growth rate (CAGR) of 6%. The growth during the historic period can be attributed to a shift towards online sales channels and digital marketing strategies, the expansion of lab-grown diamonds, growth in online retail, increasing consumer affluence, and a rising demand for luxury goods.

The certified gemstones market size is expected to see strong growth in the next few years. It will grow to $12.67 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The anticipated growth during the forecast period can be attributed to a growing interest in unique accessories, rising disposable incomes driving purchases, an increase in gemstone investment, expansion of online gemstone sales platforms, and the rising popularity of colored gemstones in bridal and fashion jewelry. Major trends for this period include digital transformation and growth in e-commerce, a shift towards sustainable and ethical sourcing, technological advancements in gemstone certification, expansion of online and digital sales channels, and increasing demand from emerging markets.

The increase in the use of ornaments is expected to drive the growth of the certified gemstone market in the future. Ornaments are decorative items designed to enhance the appearance of jewelry, serving as non-functional accessories that add beauty, grace, or festivity. The rising use of ornaments is linked to evolving fashion trends, cultural and social significance, personal expression, improved economic conditions, advancements in manufacturing, and effective marketing strategies. Certified gemstones add value to jewelry by ensuring authenticity and quality through detailed analysis, thereby increasing market confidence and investment value. For example, according to the Ministry of Commerce & Industry, an India-based government agency, India's gem and jewelry exports grew by 14.07% in December 2023, reaching $2.9 billion compared to $2.54 billion in December 2022. Therefore, the surge in ornament use is fueling the growth of the certified gemstone market.

Key players in the certified gemstones market are focusing on developing AI-powered gemstone report platforms to improve the accessibility and affordability of gemological certifications. AI-powered gemstone reports use artificial intelligence technology to assess various gemstone attributes, such as color, clarity, cut, carat weight, and overall quality. For instance, in July 2024, Gübelin Gem Lab, a Switzerland-based lab specializing in gemstone analysis and certification, introduced an AI-powered gem report known as the Gem Passport. This report, created using the AI-based Gemtelligence tool, offers key identification features for unmounted emeralds, rubies, and blue sapphires up to 3 carats. It provides information on species, variety, country of origin, and a simplified treatment report. Gemtelligence, launched the previous year, employs AI algorithms to identify the gemstones' origin and heat treatments, making the testing process more efficient by reducing the time required for microscopic assessment.

In May 2023, Blackstone, a prominent US-based private equity firm, acquired the International Gemological Institute (IGI) for an undisclosed sum. This acquisition aims to strengthen Blackstone’s position in the gemological industry and expand IGI's global reach and operational capabilities. The International Gemological Institute (IGI), based in Belgium, is a recognized authority that certifies diamonds, colored gemstones, and fine jewelry.

Major companies operating in the certified gemstones market are Rio Tinto International Holdings Ltd, De Beers SA, Debswana Diamond Company Limited, Tiffany & Company, Graff Diamonds International Limited, Gemological Institute of America Inc., Petra Diamonds Limited, Blue Nile Inc., Lucara Diamond Corporation, Gem Diamonds, Gemfields Group Limited, Swarovski AG, KGK Group, ALROSA-Nyurba, Muzo International Ltd., Fura Gems Inc., Arctic Star Exploration Corp., Jindal Gems, Botswana Diamonds Plc, Pala International Inc., Leibish & Co Ltd, David Morris, GemSelect Limited.

North America was the largest region in the certified gemstones market in 2023. The regions covered in the certified gemstones market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the certified gemstones market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Certified gemstones are valuable stones that have been examined and authenticated by a reputable gemological authority. This certification process verifies the gemstone's authenticity, quality, and characteristics, such as size, color, clarity, and shape. The certification includes a report that outlines the gemstone's properties and grading.

The main types of gemstones in the certified gemstones market include emerald, pearl, ruby, sapphire, and others. A certified emerald is an emerald gemstone that has been assessed, authenticated, and graded by a recognized gemological laboratory. Gemstones can be categorized as natural or synthetic and are distributed through both store and non-store channels for use in jewelry, ornaments, and luxury art.

The certified gemstones market research report is one of a series of new reports that provides certified gemstones market statistics, including the certified gemstones industry global market size, regional shares, competitors with certified gemstones market share, detailed certified gemstones market segments, market trends, and opportunities, and any further data you may need to thrive in the certified gemstones industry. These certified gemstones market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The certified gemstones market consists of sales of amethyst, aquamarine, and garnet. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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