The global pearl sector is navigating a period of cautious stability as economic and geopolitical headwinds continue to weigh on sentiment, according to dealers exhibiting at the Hong Kong International Diamond, Gem & Pearl Show.
Pearl suppliers reported steady but selective purchasing activity, with resilient demand for top‑quality Tahitian, white South Sea, Akoya and innovative freshwater pearls shaping the market outlook.
Chan Ming Wing, chairman of Chan Ming Wing Pearl International Ltd and president of the Tahitian Pearl Association Hong Kong (TPAHK), said demand for and prices of high-quality Tahitian pearls remained solid, though persistent supply constraints continue to be a challenge.
For French luxury pearl dealer Alain Boite, business expectations are more tempered amid a weak Chinese economy. Pierre Boite, general director of the company, highlighted strong interest in white South Sea pearls, including keshi and larger baroque pieces, alongside steady European demand for Akoya pearls in the 7mm to 9mm range.
“Multicolour strands mixing pink, orange and white freshwater pearls with golden South Sea pearls are gaining traction. These fresh colour palettes sell better than classic combinations of white, golden South Sea and Tahitian pearls,” said Pierre, noting a trend towards more vibrant, refreshing options.
While business in 2023 and 2024 was “exceptional” due to a post‑pandemic demand surge from China, the market has now returned to normal pre‑Covid levels, the company official said.
Alain Boite has a solid customer base in China, Hong Kong, Australia and the US, with Southeast Asia, particularly Singapore and Cambodia, emerging as promising pearl markets, revealed Pierre.
Japan-based Paras Pearls Co Ltd likewise observed robust demand for Akoya pearls despite long-term concerns over declining production, according to Director Nirmam Javeri.
While current demand is softer compared to the peak of 2023, Javeri emphasised China’s continued dominance as “the biggest consumption market for pearl.”
Demand for smaller-sized pearls also remains solid, with 7mm to 8mm Akoya pearls being the most sought after, and 6mm to 10mm Akoya and South Sea pearls enjoying steady sales.
Meanwhile, freshwater pearl supplier HW Pearl Co Ltd reported stable demand for China’s nucleated freshwater pearls from local buyers. Sales Manager Emma Zhou said Chinese buyers have become more accepting of this innovative pearl variety compared with overseas markets. “US and European buyers prefer non‑nucleated freshwater pearls,” added Zhou.
The company’s headquarters in Zhejiang, China, specialises in freshwater pearls. According to Zhou, HW Pearl is focusing on the Chinese market for growth.
However, she expects recent conflicts in the Middle East to dampen demand from that region, which industry players had been eyeing as an emerging market for global pearl trade.
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