PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1410608
PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1410608
The moissanite market is on a growth trajectory during forecast period. By the end of 2031, the market is expected to reach US$ 71 Bn, a significant increase from its current size of US$ 44.2 Bn in 2024, as reported by Fairfield Market Research.
Moissanite is gaining popularity as a diamond alternative, priced at just one-tenth of a diamond's cost. The differences between the two gemstones are subtle and often require a skilled eye to distinguish. Moissanite's durability and resistance to yellowing over time set it apart from other diamond replacements.
Companies in the moissanite market are primarily engaged in the mining and exploration of this gemstone. Colored moissanite, in particular, is gaining favor worldwide. Market players employ diverse strategies to expand their brand portfolios, including mergers and acquisitions, joint ventures, mine acquisitions, mine lifespan extension, stock exchange listings, geographic expansion, capacity growth, and more.
The growing penetration of organized retail is aiding the moissanite market's growth. Specialty stores have emerged as a popular format in the retail industry, offering convenience to customers seeking a wide range of gem and jewelry options under one roof. Key vendors in various markets operate through specialty jewelry stores, catering to evolving customer preferences, especially in emerging economies like Asia Pacific.
Widespread illegal activity poses challenges to the moissanite market. The gemstones market often operates in the unorganized sector, with miners and traders functioning outside the formal sector. This lack of adherence to environmental, social, and labor practices, coupled with links to organized crime, has led to internal conflicts and corruption in some countries, affecting the gemstone business.
U.S.: Diamond Nexus, a prominent player in the U.S. market, introduced Moissanite to its brand in 2022, enhancing its product offering. The market's focus is on providing affordable engagement rings and fashion jewelry, appealing to consumers seeking alternatives to traditional diamonds.
U.K.: Technological advancements are shaping the moissanite market in the U.K. Companies are adopting predictive maintenance, real-time controls, and artificial intelligence to reduce operating costs. Digital mapping, modeling, and manufacturing, alongside automation, are driving the production of moissanite.
India: India is expected to witness significant growth, driven by a transformation in the retail shopping experience. Retailers are focusing on providing customers with unique and emotionally impactful experiences, encouraging the purchase of precious stones from physical stores.
Key companies profiled in the moissanite market are actively expanding their product portfolios and market presence. Growth strategies include partnerships, collaborations, agreements, expansions, acquisitions, mergers, and new product launches.
Bangles & Bracelets
Earrings & Finger Rings
Pendants & Necklaces
Brooch
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