New York, NY -- (SBWire) -- 04/03/2017 --The global demand for gemstones has been significant owing to consumers opting for purchasing medium priced gem products via certain platforms such as home shopping through television marketing. While the mid-ranging consumers prefer towards purchasing discounted products, top consumers are opting towards investing in jewelry and gems. Moreover, certain factors such as fashion designers focusing towards developing innovative jewelry products as well as manufacturers becoming vertically integrated involved in developing gemstones as well as jewelry are contributing towards the growth of the gemstones market.
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Gemstones share a wide application scope in making jewelry. The market for jewelry and gems has been noticing a significant increase disposable income of the individuals coupled with growing usage of ornaments in ceremonies in Asian economies. Consumers in emerging economies such as Asia Pacific are slowly drifting away from the conventional unorganized jewelry and inclining towards organized branded products in order to protect themselves from counterfeit products. Moreover, rising awareness regarding the benefits of shopping from organized retail by implementing various promotional strategies and advertisements has also led to increasing consumption of jewelry which has further contributed towards the demand for gemstones in Asia Pacific and other regions.
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Increasing demand for jewelry as well as inclusion of gems in jewelry products owing to increasing spending of the consumers as well as changing lifestyle is expected to drive the demand for jewelry products over the forecast period thereby increasing the demand for gemstones. In addition, increasing use of gems as an individual feature for decoration purposes is also expected to contribute towards the growing consumption of gemstones. However, factors such as rising labor charges as well as inflation impacting the prices of jewelries are thereby expected to negatively affect the growth of its raw materials such as gemstones. Focus on research and development activities towards developing innovative products as well as focus on market expansion in emerging region such as Latin America and Asia Pacific is expected to provide new opportunities for the growth of the market.
Blue Nile, Gitanjali Gems Ltd., Tiffany & Co., Titan Gems, and Zales Corporation are some of key player in the gemstone industry.
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Gemstones Market Rises Higher by 2021
The Gemstones Market report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies