The JGA 2024 trade show, held from June 20-23 at the Hong Kong Convention and Exhibition Centre, attracted more than 1,500 exhibitors from over 30 countries and regions, showcasing some of the most sought-after fine jewelry, colored gemstones, and pearls. With over 22,000 visitors from 96 countries, the event proved once again that Asian buyers are leading the charge in the global jewelry market.
High Demand for Classic Gemstones and Gold
Denise Adelaide Sjuman of Unique Brilliant Ltd said they showcased stunning Padparadscha sapphire jewelry and Burmese rubies at the event. Despite fewer new buyers, existing relationships with clients from China and other Asian countries remained strong. Antique jewelry supplier Gemolithos saw a surge in demand from mainland China, Indonesia, Japan, and Singapore, with company founder Ioannis Alexandris calling the experience "encouragingly busy."
24K Gold Jewelry Sales Outshine Expectations
Zhu Mengqiu, founder of Shangpin Gold, said sales of their 24K gold enamel jewelry exceeded expectations, with significant interest from buyers in Dubai, Malaysia, Singapore, and the Philippines. Zhu highlighted the brand’s unique designs, saying, "Our personalized jewelry is loved by foreign clients, and we’re focused on expanding our overseas markets."
Colored Gemstones—Steady Demand Despite Rising Prices
Colored gemstone specialists like RMC Gems and Multi World Gems Manufactory reported solid demand for rubies, Paraiba tourmalines, and sapphires from Chinese and Hong Kong buyers, even as prices remained high. Imran Shah, Sales Manager at Multi World Gems, observed an increasing demand for heated and untreated rubies from Mozambique and sapphires from Sri Lanka. "Prices are up 20-30% compared to last year, but the demand is there," Shah noted.
Pearls Remain a Favorite, Despite Price Increases
Pearl suppliers also reported continued interest from Asian buyers. Katsuo Akasaka, Vice President of Akasaka Unibase, noted that buyers are now more cautious about pricing before making a decision, but demand for Akoya pearls remains strong. Chen Shuxin of Shenzhen Minai Jewelry highlighted robust interest in 6-8 mm Akoya pearl necklaces, particularly from price-sensitive buyers who prioritize quality.
Diamond Enthusiasm Rekindles in Hong Kong
In the diamond pavilion, traffic was lower than in previous years, but exhibitors were optimistic. Chirag Kakadia, Director of Sheetal, said, "It’s important to be present here—you can’t ignore this market." Kakadia added that recent campaigns by De Beers and Chow Tai Fook to promote natural diamonds are expected to have a positive impact on market demand.
Rainbow Gems' Janesh Sharma also reported a strong showing among mainland Chinese buyers for fancy-colored diamonds, as well as a growing customer base in Hong Kong and Australia.
New Trends Spark Inspiration Among Buyers
JGA also featured other exciting products. Taiwanese jeweler Huang Weizu, President of Keystone, said, "The market is leaning toward delicate, lightweight, yet affordable diamond jewelry—especially popular with young female consumers in Taiwan." He also noted growing demand for high-end colored diamonds, particularly pink and blue diamonds, which are viewed as solid investments.
Korean retail jewelry brand ALOD’s CEO, Kang Sunghyuk, was on the lookout for natural diamonds and packaging for LGD products. With eight dedicated stores, ALOD has seen growing demand for lab-grown diamonds in South Korea, with emerald and princess cuts being especially popular.
Pearls, Gold, and Diamonds—What Are Buyers Looking for?
Filipino pearl jeweler Sohaima Dandamun was in the market for Akoya pearls and lightweight 14K gold jewelry. "Our clients love classic and simple gold jewelry accented with small diamonds, perfect for everyday wear," Dandamun said. "Hong Kong’s manufacturers offer the perfect blend of variety, price, and quality."
From gemstones to gold to diamonds, JGA 2024 highlighted the strong, steady demand across the Asian markets for high-quality jewelry. With trends leaning towards uniqueness, sustainability, and affordability, the future of jewelry in Asia looks as sparkling as ever!