The biggest changes have been happening in the South Sea realm (Pinctada maxima) where production has increased more than 40% over the last couple of years.
In the freshwater world things are always changing. The most notable recent thing has been sudden heavy production of large bead-nucleated pearls. They were an anomaly just two years ago, and now it seems as though everyone is producing them. When I gave a strand to Modern Jeweler last year to shoot for a story, I was inundated with telephone calls from wholesalers around the US looking for them. This year, in Tucson, several people I had spoken with now carried them. Most notably, Jack Lynch of Sea Hunt Pearls had some amazing pieces. He had called me after the MJ article looking for them, and less than a year later he is one of the top wholesalers.
The industry still has not been able to produce round bead nucleated to any degree. I know that some people claimed they had, like Maitlins, Ward, Erskine, etc., but it was just a rumor, and it is still not happening, although they are certainly trying.
Larger pearls are getting more and more round, and the volume in the large sizes has increased. We are seeing a lot more material in 13mm+ range that is very round. But it is still priced at a premium. That may take some demand of the large mainstay 10-12mm, however. The reason for the higher volume of larger pearls is due to the previous drops in market values. A lot of farmers left their shells out for up to 6 years.
The biggest changes happening on a business level is that harvest actually increased. Prices have also stabilized in most sizes in the lower quality ranges, but have increased 15-25% in the higher grade ranges. In addition, material sizing has dropped another .1mm notch. I do not even understand why they keep calling them full mm grade sorted any longer. For sellers who process their own materials like we do now, this either means switching completely to 1/2mm sizes, or maxing out our largest offered size at .6mm. For those who buy hanks in China, the difference in price will be bet with an additional 1 strand (in the 6-7mm range), but an overall drop in size by .1mm.