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

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

In 2022, the Indian precious stone and pearl market increased by X% to $X, rising for the second year in a row after two years of decline. Overall, consumption, however, continues to indicate a noticeable setback. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

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

In value terms, precious stone and pearl production declined modestly to $X in 2022 estimated in export price. Over the period under review, production recorded a noticeable descent. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Exports of Cultured Pearls, Precious Or Semi-Precious Stones

Exports from India

In 2022, shipments abroad of cultured pearls, precious or semi-precious stones increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

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

Exports by Country

The United States (X tons) was the main destination for precious stone and pearl exports from India, accounting for a X% share of total exports. Moreover, precious stone and pearl exports to the United States exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), threefold. The UK (X tons) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (X% per year) and the UK (X% per year).

In value terms, the largest markets for precious stone and pearl exported from India were the United States ($X), Hong Kong SAR ($X) and the United Arab Emirates ($X), together comprising X% of total exports. Thailand, Japan, the UK, Australia and Germany lagged somewhat behind, together comprising a further X%.

Thailand, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other 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, almost unchanged from the previous year. Overall, the export price showed a abrupt decrease. The pace of growth was the most pronounced in 2021 an increase of X%. Over the period under review, the average export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Germany ($X per ton) 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 Arab Emirates (X%), while the prices for the other major destinations experienced a decline.

Imports of Cultured Pearls, Precious Or Semi-Precious Stones

Imports into India

Precious stone and pearl imports into India soared to X tons in 2022, with an increase of X% against the previous year's figure. Over the period under review, imports recorded resilient growth. The pace of growth appeared the most rapid in 2018 when imports increased by X%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, precious stone and pearl imports surged to $X in 2022. In general, imports saw a prominent expansion. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, Hong Kong SAR (X tons) constituted the largest supplier of precious stone and pearl to India, accounting for a X% share of total imports. Moreover, precious stone and pearl imports from Hong Kong SAR exceeded the figures recorded by the second-largest supplier, Rwanda (X tons), ninefold. Thailand (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Hong Kong SAR stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Rwanda (X% per year) and Thailand (X% per year).

In value terms, the largest precious stone and pearl suppliers to India were the United States ($X), Hong Kong SAR ($X) and Thailand ($X), together comprising X% of total imports.

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

Import Prices by Country

In 2022, the average precious stone and pearl import price amounted to $X per ton, growing by X% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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