Gems and Jewelry Market Size

Global Gems and Jewelry Market size was valued at USD 302.0 billion in 2023 and is poised to grow from USD 320.12 billion in 2024 to USD 510.22 billion by 2032, growing at a CAGR of 6.0% during the forecast period (2025-2032).

With increasing disposable incomes in growth economies such as China, India, and Brazil, consumers have the means to buy luxury goods like gems and jewelry. This higher purchasing power drives demand for high-end products, as jewelry tends to represent prosperity, status, and cultural heritage. Moreover, urbanization and increased exposure to international fashion trends lead consumers to showcase personality through fine jewelry. As a consequence, brands are identifying new markets expanding and customizing their products with variable styles and price points to capture this burgeoning middle class, eventually fueling sustained growth in the international gems and jewelry market.

Technological developments such as 3D printing, augmented reality (AR), and blockchain are key trends driving the global gems and jewelry sector. 3D printing enables designers to design complex and personalized jewelry with higher accuracy and speed, minimizing costs and time for production. AR technology improves the consumer experience by making virtual try-ons possible, allowing customers to visualize products before purchase. Blockchain provides transparency and security by verifying the authenticity and ethical sourcing of gemstones, building consumer trust. Together, these innovations improve efficiency, customer engagement, and supply chain integrity, which collectively drive market expansion and modernization.

What Role does AI Play in Production Accuracy for Jewelry?

Artificial Intelligence (AI) is radically revamping the global gems and jewelry market by improving design, production, inventory management, and customer experience. AI-based solutions allow jewelers to design automatically, prototype quickly and custom pieces, forecast market trends, resulting in quicker time-to-market and higher levels of innovation. In production, AI-controlled equipment guarantees accuracy in operations such as diamond cutting and gemstone evaluation, minimizing waste and enhancing product quality. Besides, AI also streamlines inventory management by predicting demand, reducing overstock, and avoiding stockouts, thus minimizing costs and maximizing profitability. Customer engagement is also improved through AI chatbots and virtual try-on solutions, delivering tailor-made shopping experiences and boosting customer satisfaction.

In 2024, Swarovski collaborated with Adorned, an AI firm, to create an AI-based design tool that allows customers to co-create bespoke jewelry. Through this partnership, customer satisfaction increased by 15% and sales for customized items rose by 10%. The tool uses generative AI to optimize design recommendations in real-time, improving the customization process and complementing the increasing consumer preference for bespoke luxury items.