Canada: Market for Cultured Pearls, Precious Or Semi-Precious Stones 2024

Market Size for Cultured Pearls, Precious Or Semi-Precious Stones in Canada

The Canadian precious stone and pearl market dropped to $X in 2022, shrinking by -12.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded a noticeable decline. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Exports of Cultured Pearls, Precious Or Semi-Precious Stones

Exports from Canada

Precious stone and pearl exports from Canada shrank markedly to X tons in 2022, which is down by -27.5% against the year before. Overall, exports recorded a precipitous decline. The most prominent rate of growth was recorded in 2014 when exports increased by 77% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, precious stone and pearl exports surged to $X in 2022. Over the period under review, total exports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +88.3% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 46%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Thailand (X tons) was the main destination for precious stone and pearl exports from Canada, with a 55% share of total exports. Moreover, precious stone and pearl exports to Thailand exceeded the volume sent to the second major destination, Costa Rica (X tons), fourfold. China (X tons) ranked third in terms of total exports with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Thailand totaled -15.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (+4.3% per year) and China (-18.1% per year).

In value terms, the United States ($X) remains the key foreign market for cultured pearls, precious or semi-precious stones exports from Canada, comprising 80% of total exports. The second position in the ranking was taken by India ($X), with a 0.9% share of total exports. It was followed by the UK, with a 0.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +5.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+7.1% per year) and the UK (+14.5% per year).

Export Prices by Country

The average precious stone and pearl export price stood at $X per kg in 2022, growing by 77% against the previous year. Over the period under review, the export price showed a significant increase. The most prominent rate of growth was recorded in 2021 an increase of 3,363% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per kg), while the average price for exports to Costa Rica ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+78.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cultured Pearls, Precious Or Semi-Precious Stones

Imports into Canada

In 2022, approx. X tons of cultured pearls, precious or semi-precious stones were imported into Canada; shrinking by -12.9% compared with 2021 figures. Over the period under review, imports recorded a perceptible decrease. The growth pace was the most rapid in 2016 when imports increased by 36%. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, precious stone and pearl imports reduced to $X in 2022. In general, imports saw a mild decrease. The pace of growth was the most pronounced in 2021 with an increase of 78%. As a result, imports attained the peak of $X, and then declined in the following year.

Imports by Country

Thailand (X tons), Brazil (X tons) and Madagascar (X tons) were the main suppliers of precious stone and pearl imports to Canada, with a combined 96% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Madagascar (with a CAGR of +44.6%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Thailand ($X) constituted the largest supplier of cultured pearls, precious or semi-precious stones to Canada, comprising 1.6% of total imports. The second position in the ranking was taken by Brazil ($X), with a 0.6% share of total imports. It was followed by Australia, with a 0.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Thailand totaled +6.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+5.6% per year) and Australia (-23.8% per year).

Import Prices by Country

In 2022, the average precious stone and pearl import price amounted to $X per ton, leveling off at the previous year. Overall, the import price saw a moderate increase. The most prominent rate of growth was recorded in 2021 when the average import price increased by 54%. Over the period under review, average import prices hit record highs in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Australia ($X per ton), while the price for Madagascar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+143.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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