The import of synthetic and reconstructed jewellery stones to Thailand is expected to exhibit a steady upward trend over the next five years, with values forecasted at $122.78 million in 2024, rising incrementally to $131.37 million by 2028. In 2023, the import value stood at $120.59 million. The year-on-year growth rate shows a slight increase, averaging around 2-2.5% annually. The compound annual growth rate (CAGR) over the forecast period from 2024 to 2028 is estimated to be approximately 2.16%, indicating consistent demand for these synthetic and reconstructed stones.
Future trends to watch for include advancements in synthetic stone production technologies, potential changes in import tariffs, and evolving consumer preferences for synthetic over natural stones due to environmental and ethical considerations. Additionally, market players should monitor global economic conditions, which could impact disposable income and luxury spending.
