Europe: Market for Cultured Pearls, Precious Or Semi-Precious Stones 2022

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

In 2021, the Europe precious stone and pearl market decreased by -95.2% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption, however, recorded a precipitous setback. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Production of Cultured Pearls, Precious Or Semi-Precious Stones in Europe

In value terms, precious stone and pearl production shrank significantly to $X in 2021 estimated in export price. In general, production continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2018 when the production volume increased by 432% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Exports of Cultured Pearls, Precious Or Semi-Precious Stones

Exports in Europe

In 2021, exports of cultured pearls, precious or semi-precious stones in Europe contracted significantly to X tons, falling by -61.3% against 2020 figures. Overall, exports showed a perceptible shrinkage. The growth pace was the most rapid in 2013 with an increase of 7,368% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, precious stone and pearl exports skyrocketed to $X in 2021. Over the period under review, exports saw a abrupt slump. The most prominent rate of growth was recorded in 2015 with an increase of 43% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Germany was the largest exporter of cultured pearls, precious or semi-precious stones in Europe, with the volume of exports accounting for X tons, which was near 55% of total exports in 2021. Switzerland (X tons) held a 15% share (based on physical terms) of total exports, which put it in second place, followed by the UK (5.6%), Romania (4.8%) and Poland (4.8%). The following exporters - Spain (X tons) and Austria (X tons) - each finished at a 7.6% share of total exports.

Germany experienced a relatively flat trend pattern with regard to volume of exports of cultured pearls, precious or semi-precious stones. At the same time, Romania (+33.3%), Spain (+8.7%) and Poland (+4.0%) displayed positive paces of growth. Moreover, Romania emerged as the fastest-growing exporter exported in Europe, with a CAGR of +33.3% from 2012-2021. The UK experienced a relatively flat trend pattern. By contrast, Austria (-8.6%) and Switzerland (-11.9%) illustrated a downward trend over the same period. While the share of Germany (+16 p.p.), Romania (+4.6 p.p.), Spain (+2.6 p.p.), Poland (+2.5 p.p.) and the UK (+1.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Austria (-2 p.p.) and Switzerland (-17 p.p.) displayed negative dynamics.

In value terms, Switzerland ($X) remains the largest precious stone and pearl supplier in Europe, comprising 29% of total exports. The second position in the ranking was taken by the UK ($X), with a 12% share of total exports. It was followed by Germany, with a 3% share.

In Switzerland, precious stone and pearl exports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: the UK (-4.4% per year) and Germany (-5.8% per year).

Export Prices by Country

The export price in Europe stood at $X per ton in 2021, jumping by 202% against the previous year. Over the period under review, the export price, however, showed a pronounced decline. The growth pace was the most rapid in 2014 an increase of 4,488% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was the UK ($X per ton), while Romania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Switzerland (+12.6%), while the other leaders experienced more modest paces of growth.

Imports of Cultured Pearls, Precious Or Semi-Precious Stones

Imports in Europe

Precious stone and pearl imports skyrocketed to X tons in 2021, picking up by 26% compared with the previous year. In general, imports, however, showed a perceptible curtailment. The pace of growth was the most pronounced in 2019 with an increase of 45% against the previous year. The volume of import peaked at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, precious stone and pearl imports soared to $X in 2021. Overall, imports, however, continue to indicate a perceptible decline. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Germany represented the major importing country with an import of around X tons, which accounted for 46% of total imports. The UK (X tons) took a 22% share (based on physical terms) of total imports, which put it in second place, followed by Spain (15%) and Switzerland (6.2%). The following importers - Austria (X tons), Poland (X tons) and Turkey (X tons) - together made up 6.2% of total imports.

Imports into Germany decreased at an average annual rate of -2.2% from 2012 to 2021. At the same time, Turkey (+17.1%), Switzerland (+12.0%), the UK (+10.0%) and Spain (+2.5%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing importer imported in Europe, with a CAGR of +17.1% from 2012-2021. By contrast, Poland (-1.2%) and Austria (-17.7%) illustrated a downward trend over the same period. While the share of the UK (+15 p.p.), Spain (+5.2 p.p.) and Switzerland (+4.4 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Austria (-10.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Switzerland ($X), the UK ($X) and Germany ($X) were the countries with the highest levels of imports in 2021, with a combined 46% share of total imports. These countries were followed by Turkey, Spain, Austria and Poland, which together accounted for a further 2.3%.

Turkey, with a CAGR of +12.7%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Europe stood at $X per ton in 2021, picking up by 24% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the import price increased by 47%. Over the period under review, import prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Switzerland ($X per ton), while Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+20.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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