Overview of the Global Market for Cultured Pearls, Precious Or Semi-Precious Stones

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

The global precious stone and pearl market shrank to $X in 2022, declining by -9.1% against the previous year. In general, consumption, however, showed a deep reduction. Global consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Production of Cultured Pearls, Precious Or Semi-Precious Stones

In value terms, precious stone and pearl production fell sharply to $X in 2022 estimated in export price. Overall, production showed a perceptible expansion. The pace of growth appeared the most rapid in 2019 with an increase of 95%. As a result, production reached the peak level of $X. From 2020 to 2022, global production growth remained at a lower figure.

Exports of Cultured Pearls, Precious Or Semi-Precious Stones

Exports

In 2022, approx. X tons of cultured pearls, precious or semi-precious stones were exported worldwide; growing by 13% on 2021 figures. Over the period under review, exports recorded a resilient increase. The growth pace was the most rapid in 2015 with an increase of 66%. Over the period under review, the global exports attained the maximum at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, precious stone and pearl exports surged to $X in 2022. The total export value increased at an average annual rate of +1.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when exports increased by 47%. Over the period under review, the global exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Brazil (X tons) and Mozambique (X tons) represented the main exporters of cultured pearls, precious or semi-precious stones in 2022, recording near 32% and 30% of total exports, respectively. China (X tons) held a 9.4% share (based on physical terms) of total exports, which put it in second place, followed by Hong Kong SAR (7%). India (X tons), Panama (X tons), the United States (X tons) and Thailand (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Mozambique (with a CAGR of +131.4%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, India ($X), the United States ($X) and Hong Kong SAR ($X) constituted the countries with the highest levels of exports in 2022, with a combined 62% share of global exports. Thailand, China, Mozambique, Brazil and Panama lagged somewhat behind, together accounting for a further 5.9%.

Mozambique, with a CAGR of +27.0%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average precious stone and pearl export price stood at $X per ton in 2022, rising by 6.3% against the previous year. Overall, the export price, however, showed a abrupt downturn. The growth pace was the most rapid in 2021 when the average export price increased by 90%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+7.2%), while the other global leaders experienced mixed trends in the export price figures.

Imports of Cultured Pearls, Precious Or Semi-Precious Stones

Imports

In 2022, approx. X tons of cultured pearls, precious or semi-precious stones were imported worldwide; picking up by 38% on 2021. Overall, imports posted prominent growth. The pace of growth was the most pronounced in 2020 with an increase of 559% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of global imports failed to regain momentum.

In value terms, precious stone and pearl imports soared to $X in 2022. Over the period under review, total imports indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +76.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 53%. Global imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

China prevails in imports structure, finishing at X tons, which was near 84% of total imports in 2022. It was distantly followed by the United States (X tons), committing a 4.8% share of total imports. Hong Kong SAR (X tons) took a minor share of total imports.

China was also the fastest-growing in terms of the cultured pearls, precious or semi-precious stones imports, with a CAGR of +71.5% from 2012 to 2022. At the same time, the United States (+6.2%) and Hong Kong SAR (+4.9%) displayed positive paces of growth. While the share of China (+82 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of Hong Kong SAR (-5.7 p.p.) and the United States (-10.3 p.p.) displayed negative dynamics.

In value terms, the largest precious stone and pearl importing markets worldwide were the United States ($X), Hong Kong SAR ($X) and China ($X), together comprising 57% of global imports.

In terms of the main importing countries, China, with a CAGR of +9.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced mixed trends in the imports figures.

Import Prices by Country

The average precious stone and pearl import price stood at $X per ton in 2022, which is down by -16.1% against the previous year. Overall, the import price recorded a abrupt descent. The most prominent rate of growth was recorded in 2021 when the average import price increased by 163% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (-4.1%), while the other global leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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