The colourful world of gems and jewellery is growing at a healthy pace. According to a report by market research firm Research and Markets, this industry is estimated to cross US$443 billion by 2022.
The reason for the growth of the sector, as per the report, is linked to the booming tourism industry, establishment of a large number of exclusive showrooms by leading players, and rising online availability of gems and jewellery.
The demand for gems and jewellery across the globe is not dominated by the western nations alone. The demand is coming from Asia-Pacific as well as North America. Despite high global prices the demand for diamonds set in gold, platinum, gold, gemstones and pearl jewellery is high.
The key reasons for the increase in demand, as per the report, is expanding urbanisation, changing lifestyles, growing e-commerce sales, rising presence of organised retail channels, growing number of premium product launches and synchronised distribution networks, etc.
Brands in the gems and jewellery space are targeting the millennial buyers who are constantly looking for something unique to flaunt. Also these brands are willingly changing their product portfolios and focusing on making customised jewellery, as per consumer demands.
Technological advancements and certifications available to the customers are helping the industry build trust in the minds of new customers. This will help fuel the growth of the sector in the coming years.
India, China, Vietnam, Thailand, Japan and Indonesia are high growth markets. For a brand looking for growth potential – it is important to crack these markets to secure ones future returns.
The KGK Group is present across fastest growing markets in the world. It has the potential to manufacture and deliver an order of any size and is present across the gems and jewellery value chain to give the best quality products to its customers. It is among the few names in the world who are engaged in both mining and processing of coloured gemstones. The group sources the best natural and ethically mined diamonds from across the world and it has the honour of being a preferred buyer of De Beers, Alrosa and Rio Tinto..