Gemstone Market Share Expected to Exceed $53.2 Million by 2029
According to a report by Exactitude Consultancy, the global gemstone market is expected to grow significantly in the next few years. The market size is projected to surpass $53.2 million by 2029, with a CAGR of 6.53% during the forecast period 2023-2029.
The growth of the gemstone market can be attributed to the increasing demand for coloured gemstones, particularly in emerging economies. The rise in disposable income and changing consumer preferences are expected to drive the demand for gemstones further.
Furthermore, technological advancements and innovation in the mining and production of gemstones are expected to contribute to market growth. The use of blockchain technology for tracking the authenticity of gemstones is gaining traction, increasing consumer trust and confidence in the market.
The report also highlights some of the key players in the gemstone market, including Gemfields, Gemstoneuniverse, and Blue Nile. The market is highly competitive, with companies focusing on product innovation and expanding their product portfolios to gain a competitive edge.
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