This content was first published on IGR – Italian Gemological Review no. 22 in 2026. The information provided here is therefore current as of the original publication date.
While market forecasts inevitably vary depending on analytical scope and methodology, they all point in the same direction: colored gemstones are expanding at a faster pace than diamonds — and faster than the gemstone sector overall. According to Future Market Insights, the global gemstone market is expected to reach USD 36 billion in 2025 and grow at a compound annual growth rate (CAGR) of 6.6% through 2035, ultimately reaching USD 68.3 billion.
Within this broader framework, colored gemstones — rubies, sapphires, emeralds, and spinels — stand out for their momentum. Although still smaller in absolute value, the segment is projected to nearly triple over the next decade, rising from USD 1.9 billion in 2025 to USD 5.7 billion in 2035. This translates into a CAGR of 11.3%, almost twice the market average.
Other industry sources, including Credence Research and Databridge, confirm a CAGR of between 6.3% and 6.6% for the overall gemstone market, encompassing both diamonds and coloured stones, effectively doubling in value over ten years. When diamonds are stripped out of the equation, however, growth rates for colored gemstones consistently range between 7% and 11%, well above the 4–5% typically attributed to diamonds. As a result, color emerges as one of the most dynamic segments within the wider luxury universe, outperforming categories such as watches, physical art and high-end leather goods.
Several structural drivers are underpinning this growth. Consumers are paying closer attention to gemmological certification and traceability, while digital channels continue to gain traction, supported by e-commerce platforms offering augmented reality tools for virtual try-ons and increasingly transparent pricing models. At the same time, ethical sourcing and sustainability have become central to purchasing decisions.
In markets such as the United States, this shift is further reinforced by alternative forms of engagement jewellery, including non-traditional engagement rings and a more authentic narrative around gemstone provenance.
Despite competition from precious metals and emerging digital assets such as cryptocurrencies, coloured gemstones are steadily strengthening their appeal, positioning themselves as one of the most compelling growth stories in today’s luxury market.
Gem news published on IGR – Italian Gemological Review #22 – Spring 2026.
