The jewelry industry is one of the most profitable industries in the world. The beauty and appeal that come from wearing a piece of jewelry make it an easy purchase for many people. The demand for these pieces is high, so many companies are looking to get into this industry.
The aquamarine jewelry industry is one of the most popular trades globally, and it has seen immense growth in recent years. The statistics collected show an increase in demand for these gems, yet availability remains low. This blog post will discuss how this industry is changing and what is to be done to keep it thriving.
What Is Aquamarine Jewelry?
Aquamarine is a gemstone that is found in many jewelry pieces. It looks similar to the color of the ocean. It has a beautiful blue hue that has made it popular among consumers. The largest aquamarines are mined from Brazil, and they can get up to 200+ carats. Aquamarine also comes from countries like;
- Madagascar
- Nigeria
- Zambia
- Mozambique
- Pakistan and Afghanistan
Aquamarine comes with a Mohs scale hardness of 7.5-8.0. The durability of this gem is more robust than most, and this factor allows it to be set in many different types of jewelry.
The durability does not make the aquamarine more susceptible to breaking; instead, they are less likely to chip or crack when hit against something hard.
Uses Of Aquamarine Jewelry
There are various types of jewelry that are made with aquamarine. The most common ones include;
- Rings
- Earrings
- Bracelets
- Necklaces,
- Pendants
This makes it popular among people who love to have variety when purchasing their accessories or clothing items.
Aquamarine Jewelry Industry Statistics
Demand
The jewelry industry has seen increased demand from both male and female buyers. Men are also beginning to wear them more and more to show off their fashion sense and stand out from the crowd.
Recently more men have become interested in what they wear and how it looks. Aquamarine is an excellent choice for men looking to wear jewelry without being too flashy.
An increase in the number of more men and women who wear jewelry can also be attributed to its rise in demand. More people are looking to purchase new pieces that they can wear.
- In 2018, there was $19.18 billion in sales, with males representing 25% and females representing 75%.
- With an increase in demand on both sides, it’s predicted that by 2020 the jewelry industry will see a total of $20.73 billion worth of sales, with males representing 30% and females representing 70%.
Supply
The supply of these gems has been low, so they are always in demand. The aquamarine mines found to date only produce a small number compared to the high market demand.
- In 2018, there was a production of $44 billion worth of Aquamarine Jewelry.
- Production has now increased to an estimated $45 billion, with the majority coming from China and Brazil.
- Predicted figures for 2020 are that there will be a total production worth around $47 million available in the market.
- Every year roughly 18% is mined, but with the current mining processes, it’s predicted that within 2020 this will increase to 20%.
Companies looking into this trade will make large profits if they can find a supply to match the demand. Additionally, they will need to work hard to make their product stand out among the others.
Price
- The price of Aquamarine Jewelry has seen a slight increase from $100 to $150USD, a 25% percent increase in the last year. Lack of constant supply has caused a rise in price for consumers who want this type of jewelry. Many people would love to get their hands on these pieces, but it is hard to find them.
- It is predicted that by 2024, the price of Aquamarine Jewelry will increase to $250USD. However, the cost of this gemstone will vary greatly depending on the size, color, and clarity that you are looking to purchase.
Intense dark blue colors are the most expensive, and lighter tones tend to be the least costly. Clarity also plays a significant role in how much you will need to pay for this gemstone. Stones with higher clarity levels are more valuable than those with cloudiness or other issues that make them less attractive.
Purchasing Patterns of Aquamarine Jewelry Consumers
Aquamarines come in many different sizes and shapes, which is why consumers like them so much. They also look good on most skin tones, making it easy for anyone to find a piece that will work well with their outfit.
Most consumers prefer to have them as jewelry, but they are also used in some home decoration pieces.
- Different jewelry consumers prefer rings at 70%, with those who opt for aquamarine bracelets and necklace/Pendant at 25% and 15%, respectively. It is estimated that the same pattern will continue to be seen in the years to come.
- Aquamarine consumers are mostly women between the ages 25-35 who have a middle income.
- The most preferred colors for aquamarine jewelry are purplish-blue, ocean blue, and sky-blue.
- However, in 2022, it is predicted that consumers will also use aquamarine jewelry more for home.
Aquamarine Jewelry Industry Trends
- Spike in demand; This spike is attributed to increased awareness about its healing properties and sources mostly found at the seashore. This has led to many people believing in its powers and hence opting for it as an investment.
Since 2017, the prices of this jewelry have increased by an average of about 15% every year. This is due to its rarity, making it quite expensive and adding value to those who own it.
- Rise of more mining companies; More mining companies are expected to be interested in aquamarines because of the increased demand from North America.
It is expected by the year 2023; there will be more than 100 such companies that will be involved in mining this rare gemstone. This is expected to help the industry grow and increase profits for those who own these companies.
- Decrease in price; Aquamarine production is expected to increase over the next few years, which will cause an overall decrease in its market value. By 2025, there will be an increase of about 65% in aquamarine jewelry production, thus a decline in its market price.
- Advanced mining processes; Improvements to the mining process are expected to cause an increase in aquamarine production. This will lead to a decrease in its market value and lower prices for consumers. A projection made suggests that there could be as much as 50% more volume over the next few years because of these changes.
Conclusion
Aquamarine will remain popular for people who love fashion accessories and look to stand out from others. The demand has increased because more men are becoming fashion conscious and women. Additionally, an increase in supply can happen if companies find the right location to dig for the stones.
However, it is essential to note that much of this information can change depending on mining companies’ future events and production levels. If you are interested in joining the Aquamarine jewelry business, it is best to learn as much as you can about the industry and plan for any changes.