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 record a healthy CAGR during 2022-2027.

As per report findings, global gold mining market growth is creditable to rising disposable income of individuals, shifting customer preferences, as well as burgeoning population of high-net-worth individuals around the world.

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For the unversed, gold is extracted from mines of various scales & types. For ages, gold has always been recognized as one of the best investment options, and it continues to be in high demand regardless of societal or economic changes.

Moreover, several practices followed by people all over the world surrounding the adoption of ornaments and jewels will greatly increase product purchases, which in turn is propelling the industry outlook.

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

On the bright side, soaring demand for gold, which ensures that jewelry preserves its value over time and is simple to sell when needed, is driving banks around the world to focus more on diversifying their holdings, thus bolstering industry expansion.

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.