According to the research report titled ‘Global Gold Mining Market (2022 Edition) - Analysis By Mining Method, End-Use, By Region, By Country: Market Insights and Forecast with Impact of COVID-19 (2022-2027)’, available with MarketStudyReport, global gold mining market was worth USD 197.58 billion in 2021 and is anticipated to expand significantly through 2027.

Rising disposable income of individuals, shifting customer preferences, as well as swelling population of high-net-worth individuals are the major growth determinants for global gold mining market.

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For the unversed, gold is extracted from mines of various scales & types, and it is a global business with operations on all continents except Antarctica. For ages, gold has been regarded as one of the best investment options, and it remains in high demand independent of economic fluctuations or social events.

Various practices followed by people all over the world surrounding the adoption of ornaments and jewels will greatly increase product purchases, which in turn will stimulate the industry outlook during the forecast timeframe.

Notably, the COVID-19 pandemic has negatively impacted marketplace due to severity of the lockdowns, strict government regulations, and the volatility of stocks market. Furthermore, increasing gold prices and weaker local currencies pushed the domestic gold price to all-time high, dampening the demand for jewelry, which in turn hampered the worldwide gold mining market outlook.

On the bright side, growing focus of banks all over the world towards diversifying the assets, on account of the excessive demand for gold which guarantees that jewelry retains its value and is easy to sell when needed, is propelling the industry forward.

Based on mining method, the market is branched into hard rock mining, placer mining, and others. In terms of end-use scope, the industry is arrayed into technology, central banks, investment, and jewelry.

Regionally, the industry trends are studied across North America (U.S., Canada), Europe (France, UK, Germany, Spain), and Asia Pacific (China, India, Australia).  

Speaking of competitive landscape, Yamana Gold Inc., Harmony Gold Mining Company Limited, AngloGold Ashanti Limited, Gold Fields Limited, Kinross Gold Corporation, Newcrest Mining Limited, Agnico Eagle Mines Limited, PJSC Polyus, Barrick Gold Corporation, and Newmont Mining Corporation are the major players influencing the global gold mining market dynamics.