Strong demand for Tahitian pearls in 2023
Prospects are bright for Tahitian pearls in 2023 amid tighter supply and high prices, with industry experts anticipating solid demand from Asia, the US and Europe.
According to the Tahitian Pearl Association Hong Kong (TPAHK), the market’s growing penchant for innovative jewellery designs that combine pearls with diamonds and coloured gemstones is expected to support the business throughout the year.
China, in particular, has become the largest driver of growth in the Tahitian pearl sector, with affluent consumers increasingly asking for better-quality goods.
Citing data from the Institute of Statistics of French Polynesia, TPAHK said the volume of Tahitian pearl exports fell by almost 50 per cent in 2022 due to shortage in baby oysters, lower production caused by the pandemic and a new French Polynesian policy that restricts pearl production.
Exports value, however, grew by 27 per cent, owing to higher prices. TPAHK said the lack of high-quality pearls led to an increase in prices, with the value of Tahitian pearls rising by at least 100 per cent. Pearls measuring 15mm to 17mm in diameter and in peacock colour were particularly rare at recent pearl auctions, the association said.