Belgium Gemstone Market Report and Forecast 2024-2032

Belgium Gemstone Market Outlook

The Belgium gemstone market is expected to grow at a CAGR of 2.5% during the forecast period of 2024-2032.

Rising Applications of Gemstones in Jewellery is Providing Impetus to the Market Growth

The market growth of gemstones in Belgium is being driven by rising applications of gemstones like ruby, emerald, jade, and sapphire, among others, in jewellery. Introduction of new jewellery designs, such as rings, bracelets, and necklaces for fashion or astrology purposes, is a significant factor providing impetus to the market.  In addition to this, the market is growing on account of rising disposable incomes and the subsequent improving standards of living. Further, the market growth can be associated with the rising availability of gemstones of synthetic nature, which are more affordable than natural gemstones.

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Gemstone: Market Segmentation

A gemstone refers to a piece of mineral crystal, which is widely used in cut, polished or precious or semi-precious formats to prepare jewellery, home décor, and luxury art. Depending upon the type, gemstones are mostly known for their lustre and therapeutic properties.

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On the basis of nature, the market can be segmented into:

• Natural
• Synthetic

The market, based on type, can be classified into:

• Precious
• Semi-Precious

Based on product, the market can be divided into:

• Diamond
• Jade
• Sapphire
• Ruby
• Emerald
• Others

On the basis of application, the market can be categorised into:

• Astrology
• Jewellery and Ornaments
• Luxury Arts
• Others

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Rising Popularity of Coloured Gemstones to Drive the Market Growth in the Belgium Market

The market of gemstones in Belgium is predicted to be led by the demand for coloured gemstones in the coming years. While diamond remains the classic choice for many people, the rising popularity of coloured gemstones like jade, ruby, and emerald for their therapeutic properties is predicted to contribute to the growth of the market. For instance, jade is being actively used in beauty products like gua shas and rollers, hence promoting the growth of the market. In addition to this, the durability and toughness of coloured gemstones are some of the factors further influencing the growth of the market positively. Moreover, the growing focus on the development of innovative jewellery products by fashion designers is further boosting the market growth of gemstone in Belgium.

Key Industry Players in the Belgium Gemstone Market

The report presents a detailed analysis of the following key players in the Belgium gemstone market, looking into their capacity, market share, and latest developments like capacity expansions, plant turnabouts and mergers and acquisitions:

• IGC Group
• L'ODYSSEE
• Sand Fredy BV - SandGems
• Taché Group
• DERS International
• Others

The comprehensive report looks at the micro and macro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of the Porter’s Five Forces Model.

Key Highlights of the Report: