Coloured gemstone traders are optimistic about steady growth in the industry on the back of strong market demand coupled with increased transparency and digitalisation.

Among the most sought-after coloured gems now are Paraiba tourmaline, morganite and aquamarine from Mozambique, according to Amit Dugar, director at RMC Gems HK Co.

“The coloured gemstone industry is doing well. Growth is led by high demand, especially from the US and Europe,” revealed Dugar. “All sizes are moving. Paraiba tourmaline, morganite and aquamarine are also rising in popularity in Asia.”

Major luxury brands like Cartier, Bulgari and Tiffany, who are increasingly using these stones in their collections, are further fuelling consumer demand, the company official added. 

Compared with Covid-ravaged 2020, RMC Gems recorded a 25 per cent to 30 per cent increase in sales in 2021. “We expect 2022 to be a better year. One challenge is tight supply, especially of Paraiba tourmaline and morganite. There is lower production as mines have not been operating at 100 per cent,” he explained. 

Amit Jain of Neon Gems revealed that emerald remains highly favoured in China while US buyers are quite partial to tanzanite. Sapphire and opal meanwhile are both performing well in the US and China. “For 2022, we are anticipating better business compared to last year as companies restock inventories to fulfil their customers’ demands,” noted Jain. 

Nitin Agrawal of Scenario Gems identified the US, Europe and China as the strongest markets for coloured gemstones, especially tanzanite, multicolour tourmaline, rubellite, moonstone and opal.

“Growth in the coloured gemstone industry largely depends on borders reopening and strict quarantine rules being relaxed, especially in Hong Kong so that overseas buyers can start attending trade shows,” added Agrawal.

Transparency and digitalisation meanwhile are megatrends that are shaping the coloured gemstone industry, revealed Raphael Gübelin, president of the House of Gübelin. 

Provenance Proof, an initiative from Gübelin Gem Lab that has spun off as an independent company, earlier developed both the Emerald Paternity Test – deploying physical tracers based on nano-sized tags – and the Provenance Proof Blockchain. 

The lab also offers the Gübelin Gemstone Rating, which assesses the quality, rarity and salience of a specific gemstone and translates these attributes into a simple number: The Gübelin Points. 

“With Provenance Proof, we are offering latest technologies such as nanolabels to trace emeralds and the first blockchain for coloured gemstones. These technologies enable more transparency and increase trust,” Raphael explained. “In the end, transparency, trust and education will popularise coloured gems among a broader public, benefitting the entire industry.”