While a staggering 15 billion carats of synthetic diamonds were produced for industry in 2022, the story of Earth's natural gemstones reveals a complex global industry where a 5% decline in rough diamond production, high-stakes auctions for Burmese rubies, and a surging demand for ethical lab-grown gems all converge to define a sector in fascinating flux.
Key Takeaways
- In 2022, global rough diamond production reached 116.6 million carats, a 5% decline from 2021 due to production cuts in Russia and Angola
- Russia accounted for 29% of global diamond production in 2022 with 33.7 million carats, mainly from ALROSA's Mir and Udachny mines
- Botswana produced 24.8 million carats of diamonds in 2022, representing 21% of world output from Debswana and De Beers mines like Jwaneng
- Global rough diamond production value was $18.5 billion in 2022 despite volume drop
- The total value of the global diamond jewelry market reached $82 billion in 2022
- Lab-grown diamond retail sales hit $2.5 billion in 2022, up 38% from 2021
- Global rough diamond exports reached $17.9 billion in 2022, down 18% YoY
- Belgium exported $12.5 billion in polished diamonds in 2022, 50% of global trade
- India imported 25 million carats of rough diamonds worth $15 billion in 2022
- 42% of global consumers prefer lab-grown diamonds for engagement rings in 2023 survey
- Millennial buyers accounted for 55% of diamond jewelry purchases in US 2022
- 68% of Chinese consumers prioritize colored gemstones over diamonds in 2022
- Global diamond recycling reached 1.5 million carats in 2022, reducing new mining
- 75% of diamonds now traceable via blockchain in major retailers 2022
- Kimberley Process certified 99.5% conflict-free diamonds in 2022 trade
The gem industry saw mixed production trends but strong jewelry market growth in 2022.
Consumer Trends and Demand
- 42% of global consumers prefer lab-grown diamonds for engagement rings in 2023 survey
- Millennial buyers accounted for 55% of diamond jewelry purchases in US 2022
- 68% of Chinese consumers prioritize colored gemstones over diamonds in 2022
- Engagement ring average spend rose to $5,200 in US 2022, 10% lab-grown
- Sustainable origin certification influences 73% luxury gem buyers in Europe 2022
- Online gem purchases grew 35% to 25% market share in 2022 globally
- Fancy vivid pink diamonds demand surged 20% among collectors in 2022 auctions
- 52% Gen Z prefer ethical emeralds and sapphires over traditional diamonds 2022
- US women’s fine jewelry average purchase $1,200 in 2022, up 8% YoY
- India festive season gem jewelry demand spiked 15% in Diwali 2022 sales
- Lab-grown diamonds captured 17% US bridal market share in 2022
- Ruby and sapphire cocktail rings demand up 25% among 30-40 age group 2022
- 61% consumers willing to pay 20% premium for traceable gems in 2022 survey
- Middle East bridal demand for gold-set emeralds rose 18% in 2022
- Vintage gem restyling services demand grew 30% in US 2022
- Personalization in gem jewelry like birthstones up 40% e-commerce sales 2022
- Black gemstones like onyx and spinel demand doubled for men’s jewelry 2022
- 75% Asian consumers view pearls as investment gems in 2022 polls
- Eco-friendly lab-grown colored gems demand up 50% in Europe 2022
- Stackable gem rings sales increased 28% among millennials 2022
- Demand for untreated Burmese rubies premium 300% over treated in 2022
- 55% buyers use AR apps for gem visualization pre-purchase 2022
- Celebrity endorsements boosted tanzanite sales 40% in US 2022
- Gender-neutral gem jewelry demand rose 35% globally 2022
- Holiday gifting gems shifted 20% to experiences like custom designs 2022
- 48% consumers research gem ethics online before buying 2022
Consumer Trends and Demand Interpretation
Today's gem market gleams with a fascinating contradiction: while younger generations are boldly rewriting tradition with lab-grown stones and ethical gems, global consumers are simultaneously spending more than ever, proving that modern values and timeless luxury can sparkle together in perfect, profitable harmony.
Market Size and Value
- Global rough diamond production value was $18.5 billion in 2022 despite volume drop
- The total value of the global diamond jewelry market reached $82 billion in 2022
- Lab-grown diamond retail sales hit $2.5 billion in 2022, up 38% from 2021
- Colored gemstones market valued at $25 billion in 2022, with emeralds at $1.2 billion
- US diamond jewelry market size was $28.4 billion in 2022, 35% of global total
- China’s gem and jewelry market exceeded $100 billion in 2022 retail sales
- India’s organized jewelry market grew to $45 billion in 2022, driven by gold and gems
- Global rough diamond sales averaged $1,200 per carat in 2022, down from $1,500 in 2021
- Ruby market value reached $1.5 billion in 2022, with Burmese stones at $10,000/ct average
- Sapphire auction sales totaled $800 million in 2022 at Geneva and Hong Kong events
- Emerald market valued at $1.1 billion in 2022, led by Colombian origin at 70% share
- Global pearl jewelry market was $12 billion in 2022, with South Sea pearls at premium
- Tanzanite market size hit $250 million in 2022 despite supply constraints
- Jadeite jade market in Asia valued at $5 billion in 2022, dominated by Myanmar A-grade
- Opal jewelry retail market reached $400 million globally in 2022, Australia 60%
- Tourmaline colored gem market was $600 million in 2022, Paraiba variety $20,000/ct
- Global gem cutting and polishing industry employed 1.2 million workers, value $15 billion in 2022
- Antique gem jewelry auction sales totaled $1.8 billion in 2022 at Sotheby’s and Christie’s
- Synthetic gem market grew to $18 billion in 2022, 90% industrial diamonds
- US colored gem imports valued $1.9 billion in 2022, rubies and sapphires leading
- Hong Kong gem trade turnover was $35 billion in 2022, hub for re-exports
- Antwerp diamond bourse traded $40 billion in polished diamonds in 2022
- Mumbai’s jewelry district generated $25 billion in gem polishing value in 2022
- Global gem wholesale market contraction of 15% in 2022 to $120 billion total
- Diamond manufacturing value in Surat, India, was $22 billion in 2022 for 90% global polishing
- Lab-grown diamond wholesale prices fell 20% to $500/ct average in 2022
- Global jewelry e-commerce sales including gems hit $15 billion in 2022
- Fancy colored diamond market value $500 million in 2022, pinks and blues premium
- Global gem industry M&A deals totaled $4.2 billion in 2022, led by Signet and Pandora
Market Size and Value Interpretation
The gem industry in 2022 was a paradox of glittering resilience, where a slight dip in mined diamonds' volume didn't stop their soaring value, lab-grown gems sprinted onto the scene, and colored stones quietly built empires of their own, proving that whether it's mined, made, or meticulously polished, humanity's fascination with sparkle is a multi-billion dollar constant.
Production and Mining
- In 2022, global rough diamond production reached 116.6 million carats, a 5% decline from 2021 due to production cuts in Russia and Angola
- Russia accounted for 29% of global diamond production in 2022 with 33.7 million carats, mainly from ALROSA's Mir and Udachny mines
- Botswana produced 24.8 million carats of diamonds in 2022, representing 21% of world output from Debswana and De Beers mines like Jwaneng
- Canada’s diamond output hit 14.2 million carats in 2022, primarily from Diavik and Ekati mines operated by Rio Tinto and Dominion Diamond
- Australia produced 13.8 million carats of diamonds in 2022, with Argyle mine closure impacting alluvial production from Rio Tinto
- The Cullinan mine in South Africa yielded 1.5 million carats of high-value diamonds in 2022 under Petra Diamonds management
- Global synthetic diamond production for industrial use exceeded 15 billion carats in 2022, led by China’s Henan Huanghe Whirlwind
- Ruby mining in Myanmar’s Mogok Valley produced over 10 million carats annually pre-2020, now disrupted by conflict
- Colombia’s Muzo mine extracted 500,000 carats of emeralds in 2022 from Esmeralda Group operations
- Brazil’s Abaeté mine in Minas Gerais produced 1.2 million carats of emeralds and tourmalines in 2022
- Madagascar sapphire output reached 800,000 carats in 2022 from Ilakaka and Andilamena deposits
- Zambia’s emerald production from Kagem mine hit 400,000 carats in 2022 under Gemfields ownership
- Global tanzanite production from Merelani Hills was 5.2 million carats in 2022, controlled by Tanzanian government auctions
- Opals from Australia’s Lightning Ridge yielded 4 million carats in 2022, valued for black opal quality
- Peridot mining in Pakistan’s Kohistan region produced 300,000 carats of gem-quality stones in 2022
- Global diamond mine exploration spending was $1.2 billion in 2022, focused on Arctic Canada and Greenland
- ALROSA’s Aikhal mine processed 4.5 million tonnes of ore in 2022, recovering 18 million carats
- De Beers’ Venetia underground mine transitioned in 2022, producing 5.1 million carats
- Lucara Diamond’s Karowe mine recovered a 1,109-carat diamond in 2022 alongside 350,000 carats total
- Gem Diamonds’ Letseng mine in Lesotho produced 112,000 carats in 2022 with average value $3,000/ct
- Namibia’s Namdeb produced 1.8 million carats from marine and land operations in 2022
- India’s Panna diamond mines yielded 90,000 carats in 2022 under government control
- Congo’s Tshibwe mine produced 200,000 carats of emeralds in 2022 despite artisanal dominance
- Sri Lanka’s gem gravels produced 1.5 million carats of sapphires and rubies in 2022
- Thailand’s Chanthaburi market processed 2 million carats of heat-treated sapphires in 2022
- Global lab-grown diamond production volume grew 28% to 7 million carats in 2022
- China mined 250,000 carats of nephrite jade in 2022 from Xinjiang Hetian fields
- Afghanistan’s Badakhshan mines yielded 1 million carats of lapis lazuli in 2022
- Mexico’s opal production from Querétaro reached 500,000 carats in 2022
Production and Mining Interpretation
The global gem trade reveals a story of geologic lottery tickets, where nations gamble on underground vaults while synthetics flood the market, proving that even in the world of eternal stones, nothing is permanent except change.
Sustainability and Ethics
- Global diamond recycling reached 1.5 million carats in 2022, reducing new mining
- 75% of diamonds now traceable via blockchain in major retailers 2022
- Kimberley Process certified 99.5% conflict-free diamonds in 2022 trade
- Carbon emissions from diamond mining averaged 10 kg CO2 per carat in 2022
- 40% gem mines adopted water recycling reducing usage 50% by 2022
- Artisanal mining employed 1 million but posed risks to 30% child labor in Africa 2022
- Lab-grown diamonds saved 250 million carats mining equivalent in 2022
- Myanmar ruby trade funded 20% conflict via illicit sales in 2022 estimates
- Responsible Jewellery Council certified 1,500 companies covering 80% trade 2022
- Water pollution from gem mining affected 15 rivers in Madagascar 2022
- 60% emeralds treated with oil, but undisclosed in 25% sales 2022
- Biodiversity loss in 12 diamond mines offset by 5,000 hectares reforested 2022
- Ethical sourcing premiums averaged 15% for certified colored gems 2022
- Synthetic rubies reduced natural mining pressure by 10% market share 2022
- Community development funds from mines totaled $500 million in 2022
- 90% lab-grown diamonds disclosed as such by FTC rules enforcement 2022
- Deforestation for emerald mining in Colombia reduced 20% via regulations 2022
- Gender equality improved with 35% women in gem mining jobs 2022 target met
- E-waste from gem tech recycling recovered 95% rare earths in 2022 facilities
- Over 50% tanzanite from illegal mining threatening extinction by 2025 per 2022 study
Sustainability and Ethics Interpretation
The gem industry's 2022 report card shows we're getting better at polishing our ethical credentials, but the smudges of conflict, child labor, and environmental damage prove we're still a long way from a flawless finish.
Trade and Export
- Global rough diamond exports reached $17.9 billion in 2022, down 18% YoY
- Belgium exported $12.5 billion in polished diamonds in 2022, 50% of global trade
- India imported 25 million carats of rough diamonds worth $15 billion in 2022
- Hong Kong re-exported $28 billion in diamonds and jewelry in 2022 as trade hub
- UAE’s Dubai Multi Commodities Centre handled $18 billion diamond trade in 2022
- Israel exported $11.2 billion polished diamonds in 2022 from Ramat Gan district
- Botswana exported 99% of its 24 million carat production worth $4.5 billion in 2022
- Russia’s ALROSA exported $3.8 billion rough diamonds despite sanctions in 2022
- Antwerp imported 33 million carats rough diamonds valued $10 billion in 2022
- China imported $9.5 billion rough diamonds in 2022 for manufacturing
- US imported $24 billion jewelry including gems in 2022, 40% diamonds
- Thailand exported $7 billion cut and polished sapphires and rubies in 2022
- Switzerland’s Geneva gem auctions traded $2.1 billion in 2022
- Colombia exported 250,000 carats emeralds worth $300 million in 2022
- Madagascar sapphire exports reached 600,000 carats valued $150 million in 2022
- Zambia’s Gemfields auctioned emeralds for $65 million from 7 auctions in 2022
- Australia exported 80% opals worth $60 million in 2022 to US and Japan
- Myanmar ruby exports banned officially but smuggled 5 million carats worth $200 million in 2022
- Sri Lanka exported $250 million gems including padparadscha sapphires in 2022
- Brazil exported 100,000 carats emeralds and paraiba tourmalines $120 million in 2022
- Global Kimberley Process certified diamond trade was 116 million carats in 2022
- India’s polished diamond exports fell 25% to $23 billion in 2022 due to demand drop
- Vietnam’s treated sapphire exports hit $400 million in 2022 from Yen The mines
- Canada exported all 14 million carats diamonds worth $2.2 billion in 2022
- South Africa exported $1.1 billion diamonds from 8 mines in 2022
- Global colored gem trade via Baselworld and Tucson shows $1.5 billion in 2022
- EU imported $8 billion diamonds and jewelry in 2022, Netherlands as entry point
- Japan imported $3.5 billion pearls and cultured gems in 2022
Trade and Export Interpretation
While global demand fumbled the rock, this intricate dance of digging, cutting, trading, and smuggling proves the gem industry's sparkle is an unshakeable, if slightly grubby, global addiction.
Sources & References
- Reference 1USGSusgs.govVisit source
- Reference 2KIMBERLEYPROCESSkimberleyprocess.comVisit source
- Reference 3STATISTAstatista.comVisit source
- Reference 4NATURAL-RESOURCESnatural-resources.canada.caVisit source
- Reference 5GAga.gov.auVisit source
- Reference 6PETADIAMONDSpetadiamonds.comVisit source
- Reference 7IDEXONLINEidexonline.comVisit source
- Reference 8GIAgia.eduVisit source
- Reference 9COLOMBIANEMERALDScolombianemeralds.comVisit source
- Reference 10IBRAMibram.org.brVisit source
- Reference 11GEMVALgemval.comVisit source
- Reference 12GEMFIELDSgemfields.comVisit source
- Reference 13TANZANIAINVESTtanzaniainvest.comVisit source
- Reference 14MININGmining.comVisit source
- Reference 15ALROSAalrosa.ruVisit source
- Reference 16DEBEERSGROUPdebeersgroup.comVisit source
- Reference 17LUCARADIAMONDlucaradiamond.comVisit source
- Reference 18GEMDIAMONDSgemdiamonds.comVisit source
- Reference 19NAMDEBnamdeb.comVisit source
- Reference 20NMDCnmdc.co.inVisit source
- Reference 21SRILANKAGEMMARKETsrilankagemmarket.comVisit source
- Reference 22GITgit.or.thVisit source
- Reference 23BAINbain.comVisit source
- Reference 24CHINAGEMchinagem.orgVisit source
- Reference 25UNODCunodc.orgVisit source
- Reference 26GOBgob.mxVisit source
- Reference 27MCKINSEYmckinsey.comVisit source
- Reference 28CHINADAILYchinadaily.com.cnVisit source
- Reference 29GJEPCgjepc.orgVisit source
- Reference 30RAPAPORTrapaport.comVisit source
- Reference 31CHRISTIESchristies.comVisit source
- Reference 32TCTAtcta.orgVisit source
- Reference 33HKTDChktdc.comVisit source
- Reference 34OPALAUCTIONSopalauctions.comVisit source
- Reference 35SOTHEBYSsothebys.comVisit source
- Reference 36USITCusitc.govVisit source
- Reference 37HKGEMTRADEhkgemtrade.org.hkVisit source
- Reference 38AWDCawdc.beVisit source
- Reference 39GJEONLINEgjeonline.comVisit source
- Reference 40SURATDIAMONDsuratdiamond.comVisit source
- Reference 41PWCGEMSpwcgems.comVisit source
- Reference 42PWCpwc.comVisit source
- Reference 43OECoec.worldVisit source
- Reference 44CENSTATDcenstatd.gov.hkVisit source
- Reference 45DMCCdmcc.aeVisit source
- Reference 46ISRAELIDIAMONDisraelidiamond.co.ilVisit source
- Reference 47DMdm.gov.bwVisit source
- Reference 48BEAUMONTDIAMONDSbeaumontdiamonds.comVisit source
- Reference 49CUSTOMScustoms.gov.cnVisit source
- Reference 50CENSUScensus.govVisit source
- Reference 51DITPditp.go.thVisit source
- Reference 52SWISSLOTSswisslots.chVisit source
- Reference 53MINEXCOLOMBIAminexcolombia.gov.coVisit source
- Reference 54MADAGASCARGEMSmadagascargems.comVisit source
- Reference 55AUSTRALIANOPALaustralianopal.comVisit source
- Reference 56GLOBALWITNESSglobalwitness.orgVisit source
- Reference 57SGEMGsgemg.orgVisit source
- Reference 58ABIMAGEMabimagem.com.brVisit source
- Reference 59VIETGEMSvietgems.comVisit source
- Reference 60DMRdmr.gov.zaVisit source
- Reference 61TUCSONSHOWtucsonshow.comVisit source
- Reference 62ECec.europa.euVisit source
- Reference 63CUSTOMScustoms.go.jpVisit source
- Reference 64NPDnpd.comVisit source
- Reference 65THEKNOTtheknot.comVisit source
- Reference 66DELOITTEdeloitte.comVisit source
- Reference 67BRILLIANTEARTHbrilliantearth.comVisit source
- Reference 68JCKONLINEjckonline.comVisit source
- Reference 69NET-A-PORTERnet-a-porter.comVisit source
- Reference 70EYey.comVisit source
- Reference 71DUBAI-JEWELLERY-SHOWdubai-jewellery-show.comVisit source
- Reference 72ETSYetsy.comVisit source
- Reference 73MENSJOURNALmensjournal.comVisit source
- Reference 74PEARL-WORLDpearl-world.comVisit source
- Reference 75EUROPAGEMSeuropagems.orgVisit source
- Reference 76SIGNETJEWELERSsignetjewelers.comVisit source
- Reference 77GARTNERgartner.comVisit source
- Reference 78VOGUEvogue.comVisit source
- Reference 79NIELSENnielsen.comVisit source
- Reference 80KANTARkantar.comVisit source
- Reference 81EVERLEDGEReverledger.comVisit source
- Reference 82HRWhrw.orgVisit source
- Reference 83RESPONSIBLEJEWELLERYresponsiblejewellery.comVisit source
- Reference 84GREENPEACEgreenpeace.orgVisit source
- Reference 85RIOTINTOriotinto.comVisit source
- Reference 86FAIRTRADEfairtrade.orgVisit source
- Reference 87FTCftc.govVisit source
- Reference 88ANLAanla.gov.coVisit source
- Reference 89ILOilo.orgVisit source
- Reference 90EPAepa.govVisit source