The Global Market for Cultured Pearls is Projected to Reach US$10.7 Billion by 2020

Surging Demand for Pearl Jewelry Drives Growth in the Natural and Cultured Pearls Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Natural and Cultured Pearls market. The global market for Cultured Pearls is projected to reach US$10.7 billion by 2020, driven by the rising penchant for pearl jewelry and the growing trend of vanity spending among the growing base of affluent middle class population.

Widely regarded as the ‘Queen of Gems’, pearls create a sense of opulence, style, and sophistication. Pearls are broadly classified into natural and cultured pearls, and freshwater and saltwater pearls. While natural pearls are a creation of nature, cultured pearls are produced with human intervention, under tightly controlled conditions. Given the growing rarity of natural pearls, cultured pearls have emerged as the next best alternative. Cultured pearls are a boon to the global pearl market, eliminating much of the risk associated with the business and enhancing output. The market for cultured pearls has therefore expanded significantly, from being dominated by one single country to a steadily increasing group of producers offering a range of pearls from various regions. Today, more than 95% of pearls traded and sold globally are cultured pearls. Pearl jewelry is the main end-use of pearls. The rise in jewelry spending bodes well for market growth. The reflective attributes and luster of pearls, along with their various shapes and colors are augmenting their use in sophisticated high-end jewelry.

Japan, Indonesia, China, Australia, India, Tahiti, Myanmar, and Philippines are the major pearl producers in the world. Australia, Myanmar, and Indonesia are major producers of large and white pearls. Japanese pearls are known for their lustrous appearance. Thanks to the emergence of new suppliers from South Pacific Islands and China, the market has witnessed the introduction of a variety of pearls in recent years. The quality of pearls has improved tremendously over the last several years, with the former rice-shaped pearls giving way to the present round-shaped pearls. Mainly produced in Japan and China, Akoya pearls have gained huge popularity. Akoya pearls cultivated in Japan have a comparatively higher value owing to their large size, their luster, and their near round shape than those produced in China. South Sea Pearls or Australian Pearls are continuing to witness strong demand, given their huge popularity the world over, owing to their large size and excellent shine. Generally available in hues of grey, black, and bluish-green, black pearls/Tahitian pearls are also witnessing growing use in jewelry and other applications.

As stated by the new market research report on Natural and Cultured Pearls, Asia-Pacific represents the largest as well as the fastest growing market with a CAGR of 6.5% over the analysis period. The region’s dominance is attributed to the high concentration of pearl producers in Australia and China and the large and promising “vanity capital” market in developing Asian countries.   

Major players covered in the report include A& E Pearl Company, American Bio-Gem, Inc., American Pearl Company, Atlas Pearls and Perfumes Ltd., Autore South Sea Pearls Pvt. Ltd., K.Mikimoto & Co. Ltd., Paspaley, and Zhejiang Grace Pearl Jewelry Co. Ltd., among others.

The research report titled “Natural and Cultured Pearls: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, market issues, growth drivers, mergers and acquisitions, and other strategic industry activities of global companies.  The report provides market estimates and projections in US$ Million for all major geographic markets, such as US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), The Middle East, and Latin America.

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