The colored gemstones market is expected to witness market growth at a rate of 6.20% in the forecast period of 2021 to 2028 and is expected to reach the value of USD 3,559.74 million by 2028. Data Bridge Market Research report on Colored Gemstones Market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The rapid urbanization is escalating the growth of colored gemstones market.
Colored gems refer to the type of gemstones that are minerals prized for their beauty and rarity, often in crystalline structures, such as jet and amber. Impurities in many colored gems cause the brilliant hue, which makes them sought after. One of the unique aspects of the colored gemstone sector is the particular characteristics of the jewels vary considerably by source.
The growing millennial attention towards colored gemstones across the globe acts as one of the major factors driving the growth of colored gemstones market. The rise in popularity of numerous gemstones such as opals, topaz, alexandrite, and tanzanite, and increase in use of colored gemstones in jewelry, ornaments, and other accessories accelerate the market growth. The high demand for colored stones over classic and standard gemstones in end-use sectors and industries such as jewelry and others claim, and penetration of artisanal and small-scale manufacturers further influence the market.
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Global Colored Gemstones Market Scope and Market Size
The colored gemstones market is segmented on the basis of product type, product format and end use. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of product type, the colored gemstones market is segmented into colored diamond, emerald, ruby, sapphire and others.
- On the basis of product format, the colored gemstones market is segmented into natural and synthetic.
Colored Gemstones Market Country Level Analysis
The colored gemstones market is segmented on the basis of product type, product format and end use.
The countries covered in the global colored gemstones market is segmented into report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the colored gemstones market due to the establishment of trade associations and other non-profit institutes within the region. Asia-Pacific is expected to witness high growth during the forecast period of 2021 to 2028 because of the rise in standard of living and education in the region.
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