March 2026 Gemstone Market Report: High-End Varieties Lead, Industry Undergoing Structural Adjustment
[Beijing, April 5, 2026] The Chinese gemstone market demonstrated significant vitality in March, with high-end varieties such as premium jadeite and Hetian jade showing particularly strong price performance, consistently leading the market. Concurrently, mid-to-low-end gemstone categories faced a more complex market environment, signaling a profound structural adjustment within the industry.
According to market monitoring data, the average transaction price of high-end jadeite bangles and pendants increased by approximately 3.5% month-on-month in March, with some top-tier 'Imperial Green' and 'Glassy Jadeite' seeing increases exceeding 5%. For Hetian jade, the trading volume and prices of 'Mutton Fat Jade' and high-white, fine-grained materials also showed steady growth, with a month-on-month increase of 2.8%. In contrast, prices for ordinary commercial-grade jadeite and Hetian jade remained relatively stable, with some categories even experiencing slight declines.
Professor Li Ming, a senior gemstone appraiser and specially appointed expert of the Gem & Jewelry Trade Association of China, noted in an interview with this newspaper: “The current polarization trend in the gemstone market is becoming increasingly evident. On one hand, scarce, high-quality gemstone resources are becoming globally tighter. Coupled with consumers' pursuit of artistic and collectible value, high-end gemstones have become a preferred choice for asset allocation and wealth preservation. On the other hand, with evolving consumer concepts and intensified market competition, the mid-to-low-end gemstone market demands higher standards for design, craftsmanship, and brand premium, rendering traditional extensive business models unsustainable.”
Professor Li further analyzed that this phenomenon is the result of multiple converging factors. Firstly, against the backdrop of global economic recovery, the wealth effect of high-net-worth individuals continues to be released, driving strong demand for high-end art and luxury goods. Secondly, the profound heritage and unique charm of gemstone culture grant it an irreplaceable position within Chinese and even Asian cultural circles. Furthermore, the rising cost of gemstone mining in recent years, coupled with a yearly decrease in the supply of high-quality raw stones, has led to a supply-demand imbalance that further pushes up prices for high-end products.
From market data, China's total gemstone market size surpassed 300 billion RMB in 2025 and is projected to maintain a growth rate of 5-7% in 2026. The market share of high-end gemstones has increased from less than 20% five years ago to approximately 30% currently, and this proportion continues to expand. This indicates that consumer perception of gemstones is shifting from mere jewelry consumption to investment and collection, placing higher demands on gemstone quality, origin, and cultural connotations.
Looking ahead, the gemstone industry will face new opportunities and challenges. Branding, standardization, and digitalization will become crucial directions for industry development. Gemstone enterprises need to strengthen supply chain management to ensure the legality and sustainability of raw stone sources; simultaneously, they must integrate more fashion elements and cultural creativity into product design to enhance product added value. Moreover, leveraging technologies like blockchain to establish a comprehensive traceability system and build consumer trust will be key to future competitiveness.
“The structural adjustment of the gemstone market is an inevitable path for the industry to mature,” Professor Li Ming concluded. “In the future, brands that can offer high-quality products, unique designs, and excellent services will stand out, while enterprises lacking core competitiveness may face the risk of elimination. For investors, thoroughly researching market dynamics and choosing high-end gemstone varieties with scarcity, cultural heritage, and good liquidity remains a relatively stable investment strategy.”
It is foreseeable that as the market environment continues to evolve, China's gemstone industry will usher in a new era of greater professionalism, refinement, and branding.