Global jewellery sales are expected to grow 4.6 per cent year-on-year to touch $185 billion by 2010 and $230 billion by 2015, a report released jointly by the Gems and Jewellery Export Promotion Council (GJEPC) and KPMG said on Monday. | |
| According to the report, palladium was expected to establish itself as an alternative metal for jewellery fabrication and gold and diamond jewellery will continue to dominate the market together, accounting for about 82 per cent. |
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| Diamond jewellery will be the slowest growing segment at a compounded annual growth rate (CAGR) of 3.3 per cent. Growth in the industry will be slow compared with that expected in other luxury goods categories such as watches, perfumes, the report suggests. |
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| India's share of the diamond processing industry pie will drop from 57 per cent today to around 49 per cent (in value terms) by 2015, it adds. |
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| India and China together are expected to emerge as a market equivalent to the US by 2015. The size of the global gems and jewellery industry is estimated at $146 billion at retail prices in 2005. The sector has grown at an average CAGR of 5.2 per cent since 2000. |
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