Australia Gemstones Market Outlook - Forecast Trends, Market Size, Share and Growth Analysis Report (2025-2034)

Australia Gemstones Market Trends

The growth of the Australia gemstones market is driven by the country's diverse gemstone offerings, including opals, sapphires, and diamonds, making it a sought-after market for collectors and jewellers. As the world’s leading opal producer, Australian gemstones are renowned for their vibrant colours. The industry plays a crucial role in the economy, supporting mining, exports, tourism, and creating numerous jobs in related sectors. In August 2024, the popular jewellery brand Mejuri opened its first Australian store in Sydney at The Galeries, its 36th global location, featuring bespoke design elements like raked plaster walls and a light-green onyx counter, as well as a full-service piercing studio with curated gold studs and opening weekend discounts.

The Australia gemstones market benefits from expanding export opportunities and growing global recognition. Advanced mining technologies improve extraction efficiency, and ethical sourcing regulations promote responsible practices. Gemstone-rich regions attract tourism, boosting local economies. The increasing global demand for Australian opals solidifies Australia’s position as a primary supplier of high-quality gemstones, with strong prospects for export growth.

Australia Gemstones Market Growth

Opportunities in the Australia gemstones market are driven by global demand for coloured gemstones, especially Australian sapphires and opals, which are increasingly seen as valuable investments due to their rarity. Opals, linked to Australia’s cultural heritage, also offer potential for cultural tourism and education. Sustainable jewellery designs and innovative practices are enhancing Australia’s global reputation, ensuring long-term market growth. In September 2024, renowned jeweller Linneys unveiled the USD 500,000 Argyle Pink™ Quokka sculpture, made from rare Argyle Pink Diamonds and 18-karat gold, celebrating Western Australia’s iconic quokka and the now-closed Argyle Diamond Mine.

The Australia gemstones market revenue is impacted by gemstone mining in remote regions, which fosters economic growth and infrastructure development within local communities.

Skilled cutters and designers add value to Australian gemstones, increasing their appeal. The rarity of Australian stones like opals and sapphires boosts their desirability, while sustainable practices ensure the industry’s future and solidify Australia’s position as a global leader in gemstone production.

Australia Gemstones Market Insights

• Australia is the largest global producer of diamonds and opals, particularly renowned for its vibrant opals and rare Argyle Pink Diamonds. The country's dominance in these markets drives international demand, boosting export growth and enhancing its position as a leading gemstone producer, as highlighted in Australia's Identified Mineral Resources 2023 report.
• Australia also stands as a major supplier of sapphires, rubies, emeralds, garnets, topaz, and jade. The growing global interest in Australian gemstones contributes to market expansion, fostering increased mining activity and exports, as indicated in Australia's Identified Mineral Resources 2023 report.
• Investment in mineral exploration rose by 13% to USD 4 billion, according to Australia's Identified Mineral Resources 2023 report. This surge in investment boosts the discovery and development of valuable gemstones, strengthening Australia's position in the global gemstone market and ensuring continued growth in gemstone production and supply.

Australia Gemstones Market Drivers

Sustainability and Ethical Sourcing

Sustainable and ethical mining practices have become a significant trend in the Australia gemstones market. As global consumers grow more aware of the environmental and social impacts of their purchases, Australian gemstone producers are adopting eco-friendly mining technologies and ensuring fair labour practices. This shift is driving the need for traceable supply chains, with gemstones being certified for ethical sourcing. By prioritising sustainability, Australian gemstone companies can distinguish themselves in the international market, appealing to socially conscious consumers. Among the most sustainable gemstones are Australian sapphires, which are sourced through small-scale mining operations with minimal environmental disruption. Other options, such as opals and chrysoprase, are also considered eco-friendly when mined responsibly, further supporting Australia's reputation for ethical gemstone production.

Technological Advancements in Mining

The Australia gemstones market is benefiting from advancements in mining technology, improving extraction methods and operational efficiency. Innovations like automated drilling, precision tools, and drones are cutting labour costs, enhancing safety, and reducing environmental impact. Digital technologies such as 3D modelling and AI enable more accurate analysis of gemstone deposits, optimising the mining process. These tools also improve resource management, boosting profitability for miners while ensuring a more sustainable and efficient extraction process. In 2024, Australia’s mining sector adopted smarter operations using artificial intelligence, automation, and data analysis. AI and advanced algorithms enhanced exploration, decision-making, and forecasting. Although autonomous operations were still in development, these technologies aimed to optimise resource extraction, paving the way for a more efficient and innovative mining future in the country.

Opportunities in the Australia Gemstones Market

The demand of the Australia gemstone market has increased as concerns about ethical sourcing and authenticity grow. Australian producers are focusing on providing certifications and traceability systems to ensure gemstones are conflict-free. With consumers, particularly in premium markets, seeking transparency, Australian businesses are adopting third-party certifications to guarantee quality and ethical standards, establishing trust. Australian Crystals offers ethically sourced, high-quality gemstones, hand-cut or raw, with a focus on sustainability. They also run fossicking tours in Queensland, promoting eco-friendly practices and advocating for responsible gemstone sourcing.

Market Restraints

The Australia gemstones market faces several restraints, including environmental concerns due to habitat destruction and pollution from mining activities, leading to stricter regulations. High production costs, remote mining locations, and specialised equipment make Australian gemstones less competitively priced. Limited supply of rare stones, like opals and sapphires, can restrict market growth.

Additionally, global competition from countries like Thailand and Sri Lanka, combined with geopolitical risks, may impact Australia’s market share. The fluctuating demand for gemstones and labour shortages also challenge the industry’s stability. Price volatility, inadequate infrastructure in remote regions, and limited consumer awareness further hinder growth. These constraints highlight the need for innovation, strategic marketing, and sustainable practices to ensure long-term success.

Australia Gemstones Market Share

Market Analysis by Type

According to the Australia gemstones market analysis, diamonds hold a prominent position due to their timeless appeal and rarity. Australian diamonds, particularly from the Argyle Mine, are celebrated for their rich colours, including rare pinks and reds. With increasing demand for ethically sourced stones, Australian diamonds offer high-quality options, boosting the luxury jewellery market and global exports. In December 2024, the Australian government allocated USD 13 million from the National Reconstruction Fund to Quantum Brilliance (QB) to support the development of the country’s first quantum diamond foundry. This funding aims to produce quantum diamonds for computing, reinforcing Australia’s position in global quantum technology and creating high-skilled jobs.

Australian sapphires, particularly from Queensland and New South Wales, are highly valued for their vibrant blue and rare hues, including green and pink. The growing trend for ethically sourced, locally mined gemstones contributes to the market’s success. Sapphires are sought after for fine jewellery, enhancing Australia’s reputation for producing exceptional gemstones with strong international demand.

The growth of the Australia gemstones market is also driven by the increasing demand for Australian rubies, despite the smaller market compared to other gemstones. Rubies, particularly from Queensland, are prized for their deep red colour and clarity. Found in areas such as New South Wales’ Macquarie and Cudgegong Rivers, Tumbarumba, and the New England region, these rubies meet the rising demand for ethically sourced stones. They are highly valued in fine jewellery, benefiting both local markets and international gemstone trade.

Market Analysis by Origin

According to the Australia gemstones market report, natural gemstones dominate the sector, highly valued for their rarity, authenticity, and distinctive features. Sourced from areas like Queensland and New South Wales, they are appreciated for their natural beauty and ethical sourcing. The increasing demand for responsibly mined stones bolsters Australia’s reputation for producing exceptional, high-quality gemstones, boosting both local and global sales. In November 2021, FURA Gems hosted the first-ever global auction of Australian sapphires in Bangkok, offering over 900,000 carats of untreated, natural rough sapphires in a variety of colours, including blue, teal, green, parti, and yellow.

The demand for the Australia gemstones market is further propelled by the growing popularity of synthetic gemstones, known for their affordability, environmental advantages, and ethical appeal. With the advancement of technology, high-quality lab-grown stones provide consumers with a sustainable, cost-effective alternative to natural stones. The rising interest in synthetic options is enhancing Australia’s competitive position in the global gemstone market. In July 2023, jewellery retailer Michael Hill renewed its focus on lab-created diamonds, offering customers more choices and addressing the increasing demand for alternative sourcing and the scalability of diamonds.

Market Analysis by Application

Fashion plays a crucial role in the Australia gemstones market growth, with consumers increasingly seeking distinctive, striking gemstones to match the latest jewellery trends. Gemstones are often featured in bold, custom-designed pieces, incorporating vibrant colours. This trend benefits local jewellers and drives global sales, enhancing Australia’s reputation for creating stylish, high-quality gemstone jewellery.

Astrology is a key trend in the Australia gemstones market, with consumers choosing gemstones linked to their astrological signs for personal development, healing, and protection. Stones like amethyst, aquamarine, and garnet are associated with specific zodiac signs, heightening their appeal. This trend boosts demand for personalised gemstone jewellery, benefiting both domestic and international markets.

Australia Gemstones Market Regional Insights

New South Wales Gemstones Market Overview

As per the Australia gemstones industry analysis, New South Wales has a diverse gemstone market, catering to both local and international demand. The region benefits from its abundant natural deposits, expert craftsmanship, and a growing consumer preference for ethically sourced gemstones, all contributing to sustainable market growth. The New England region of New South Wales is responsible for most of the gem-quality beryl, emerald, and aquamarine production.

Queensland Gemstones Market Trends

Queensland's gemstone market is experiencing a growing trend for unique, high-quality stones, particularly opals. The increasing demand for locally sourced, eco-friendly gemstones is helping the market flourish. Additionally, the region’s vibrant tourism sector promotes its gemstones worldwide. In January 2025, sapphire miner Matt Betteridge discovered an impressive 394-carat sapphire in central Queensland, further enriching Australia's gemstone heritage.

Western Australia Gemstones Market Dynamics

Western Australia's gemstone market is propelled by the mining of rare, high-value stones like pink diamonds. The market benefits from robust export opportunities, advanced mining technology, and the region’s well-established reputation for producing top-tier gemstones, boosting both domestic and international trade. In September 2024, crystal hunters in the region uncovered an extraordinary 4-kilogram amethyst at a remote mine, drawing significant attention.

Competitive Landscape

The Australia gemstones market key players are recognised for providing high-quality gemstones and fine jewellery. They specialise in offering advanced gem testing, certification, and educational services to the gem and jewellery industries. Known for their precise, reliable, and accredited gemological testing, they aim to raise industry standards through educational programmes, certification, and the promotion of ethical practices.

Key Industry Players

Brilliance Gems of Australia International: Headquartered in Australia, Brilliance Gems of Australia International is a leading provider of high-quality gemstones and fine jewellery. Established in 1995, the company is renowned for its dedication to sourcing ethically mined stones and offering exceptional customer service, catering to both retail and wholesale markets.

The GTC: The Gem Testing Centre (GTC) is a prominent gemological institution based in London, founded in 1980. The GTC specialises in providing advanced gem testing, certification, and educational services to the gem and jewellery industry. It is well-respected for its precise, reliable, and accredited gemological testing services.

Langford Gems: Langford Gems, established in 1990, is a renowned United Kingdom-based gem dealer with expertise in fine gemstones and custom jewellery design. The company is dedicated to sourcing the world’s finest gems, offering a wide range of precious stones to clients seeking unique and exceptional jewellery pieces.

Gem Guild Australia: Gem Guild Australia, founded in 1985, operates as a prestigious organisation that supports gem professionals in Australia. With headquarters in Sydney, the guild aims to foster excellence in the gem and jewellery industry by offering educational programmes, certification, and promoting ethical standards across the sector.

Other key players in the Australia gemstones market report are Capricorn Gems, PurpleMayJewellery, Tiffany And Co, Jenny Bay, and Cody Opal (Australia) Pty Ltd, among others.

Recent Developments

September 2024

Arms of Eve opened a new store in Noosa, Queensland, expanding its presence. Known for its tarnish-free gold and semi-precious stone jewellery, the brand now reaches Queensland-based customers, joining its existing locations in Bondi Beach, Bondi Junction, and Mosman. Founder Kerryn expressed excitement about engaging the Noosa community.

August 2024

Cartier opened its first standalone boutique in Perth, marking its expansion in Australia. The 300sqm store, located at 307 Murray Street, offers jewellery, watches, leather goods, fragrances, and accessories. The move reflects Cartier’s strategy to strengthen its presence and provide Western Australian customers easier access to the brand.