JB Insights

Lustre ‘n’ luxe : Global pearl trade rides the wave of modern demand

Published

1 year ago

June 13, 2025

The global pearl trade has undergone significant changes in recent years, driven by evolving consumer preferences, technological advancements, and economic factors. This report provides a comprehensive overview of the current state of the pearl trade, highlighting key statistics and trends as of 2023 and projections for the coming years.

Global Market Overview

The global trade of raw pearls (classified under HS Code 7101) reached approximately $1.29 billion in 2023, marking a 30.8% increase from $985 million in 2022 . While specific data for 2024 is not yet available, this upward trend suggests continued growth into 2024. Custom Market Insights estimated the market at $13.1 billion in 2024, forecasting growth to $34.4 billion by 2033, with a CAGR of 11.5%. IMARC Group also valued the market at $13.2 billion in 2024, projecting it to reach $34.6 billion by 2033.

The pearl trade continues to show resilience, with various factors influencing market dynamics. The market is characterized by a few dominant players, with Japan, China, and French Polynesia leading in production and export

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Top Pearl Exporting Countries in 2023:

Japan: $450 million
- Primarily exports Akoya pearls (75% of exports), with finished jewelry and natural pearls making up the remainder.
China: $350 million
- Leads in freshwater pearl production (65%) and also exports saltwater cultured pearls (25%).
French Polynesia: $150 million
- Known for Tahitian black pearls, with 90% of exports being these unique gems.
Australia: $200 million
- Renowned for South Sea pearls, which constitute 85% of its exports.
India: $100 million
- Exports mainly freshwater pearls (60%) along with finished jewelry (25%).
Vietnam: $50 million
- Gaining recognition for freshwater pearls (70%) and cultured varieties.

Import Dynamics

The United States is one of the largest importers of pearls, accounting for approximately $300 million in imports. Other significant import partners include Japan ($200 million), the United Arab Emirates ($120 million), Italy ($110 million), and Hong Kong ($80 million). These markets show strong demand for high-quality pearl jewelry, particularly from Japan and China.

Market Trends (2020–2024)

Between 2020 and 2024, the pearl market experienced notable shifts:

Consumer Preferences: There has been a shift towards elegant designs that emphasize craftsmanship rather than ostentation. Consumers are increasingly looking for heirloom-quality pieces that reflect timeless beauty.
Technological Advances: Improvements in farming techniques have enhanced the quality of both freshwater and sea pearls. Innovations in sustainability practices are becoming crucial as consumers demand ethically sourced products.
Economic Factors: Post-pandemic recovery has led to increased consumer spending on luxury goods. However, inflationary pressures are influencing buying behavior, with consumers prioritizing value.

Regional Insights

Asia: Continues to dominate pearl production and consumption. China remains the largest producer of freshwater pearls, while Japan is known for its Akoya pearls.
North America and Europe: These regions are seeing a rise in demand for sustainable luxury products. Consumers prefer minimalist designs that reflect ethical sourcing.
Middle East: The market favors opulent designs, often combining pearls with gold and diamonds. There is a strong demand for high-grade sea pearls.

Outlook for 2025–2030

Looking ahead, several trends are expected to shape the pearl market:

Pearls are no longer confined to traditional jewelry; they are now incorporated into contemporary designs alongside other gemstones and metals, appealing to younger demographics seeking bold fashion statements.

• Pearls are also gaining popularity in non-traditional markets, such as men’s jewelry and innovative accessories like watches or eyewear.

• Sustainability: The emphasis on environmentally friendly practices will drive growth in ethically sourced pearls.

• Technological Integration: Advances in aquaculture will likely improve production efficiency and quality.

• E-commerce Growth: The shift towards online shopping will continue to expand, allowing niche brands to reach global audiences more effectively.

Conclusion

The global pearl trade is poised for continued growth as it adapts to changing consumer demands and embraces sustainable practices. With major exporting countries like Japan, China, and Australia leading the way, the market is expected to thrive through innovation and a focus on quality. As we move into the latter half of the decade, stakeholders must remain agile to capitalize on emerging opportunities within this luxurious segment of the jewelry industry.

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JB Insights

The Role Of Hallmarking and Transparency In Strengthening Consumer Confidence

By Suresh Krishnan, Vice President – Sales, PNG Jewellers

Published

17 hours ago

September 5, 2026

JewelBuzz Spread The Buzz

In India, jewellery is equally an emotional purchase and a significant financial transaction. As consumers become more informed and digitally empowered, trust is increasingly becoming a decisive factor alongside design, price and brand reputation. Hallmarking has played an important role in creating that trust by giving consumers third-party assurance of precious-metal purity.

India’s hallmarking ecosystem has expanded significantly. BIS data shows that hallmarking registrations increased from 34,647 to 1,37,315 between April 2021 and March 2022 *1, while more than 8.72 crore gold and silver articles were hallmarked during that year. The introduction of the six-digit Hallmark Unique Identification (HUID) in 2021 has further strengthened traceability. Consumers can verify a gold article’s HUID through the BIS CARE app, adding an independent layer of assurance at the point of purchase.

For an organised retailer, this becomes particularly relevant as jewellery discovery increasingly moves online. A customer may discover a product on social media, compare it on an e-commerce platform and complete the transaction digitally. In such a journey, hallmarking helps bridge the trust gap created by the absence of physical touch and feel. When purity is independently verifiable, consumers can make online purchases with greater confidence.

The opportunity is also expanding beyond gold. BIS has brought both gold and silver under its hallmarking framework. In FY2024-25, more than 32 lakh silver jewellery articles*2 were hallmarked. The revised IS 2112:2025 introduced HUID-based hallmarking for silver on a voluntary basis from September 2025, creating greater traceability and consumer assurance in a category that is increasingly relevant to younger and value-conscious buyers.

This evolution matters commercially. KPMG’s India CX Report 2025*3 found that 27% of fine-jewellery customers are more confident in authenticity, quality and value when they trust a brand, while 9% said they would explore another brand if jewellery appeared overpriced for its quality. These findings underline why trust is not simply a compliance issue; it directly influences consideration and willingness to pay.

Contributing to the larger goal of organised and transparent trade, hallmarking has now been integrated as part of the broader customer experience across stores, CRM and e-commerce. As India’s jewellery market becomes increasingly omnichannel, the brands that communicate purity, pricing and policies clearly will be better positioned to convert digital discovery into purchase and, more importantly, build relationships that extend beyond a single transaction. The future of jewellery retail will therefore be defined not only by what consumers see, but by how confidently they can verify what they are buying and hallmarking takes care of that concern efficiently.