Diamond Market Report 2025

The diamond market size has grown strongly in recent years. It will grow from $2.52 billion in 2024 to $2.66 billion in 2025 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to jewelry industry, symbol of luxury and status, industrial applications, investment and store of value, cultural significance.

The diamond market size is expected to see strong growth in the next few years. It will grow to $3.35 billion in 2029 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to continued demand for jewelry, rising affluence and middle-class growth, emerging market preferences, sustainable and ethical sourcing, innovations in marketing and retail. Major trends in the forecast period include customization and personalization in diamond jewelry, artificial intelligence in diamond grading, investment in diamond futures, growing interest in vintage and secondhand diamonds, shift in consumer behavior towards experiences over possessions.

The diamond market is experiencing growth due to the rising populations in developing countries like China and India, driven by increasing disposable incomes, heightened demand, and improved access to credit. Disposable income refers to the amount of money that individuals or households have available to spend or save after income taxes have been deducted. Marine mining, which involves extracting diamonds from offshore placer deposits, is one method used in the industry. For example, in February 2024, Diamondrensu, an India-based company specializing in diamond-related products, reported that total global diamond investments increased to $18 million in 2023, up from $15.2 million in 2022, indicating a significant rise in investment. Thus, the growth in disposable income is a key factor driving the expansion of the diamond market.

Anticipated expansion in the diamond market is also linked to the burgeoning e-commerce and online retailing sector. E-commerce, involving the buying and selling of goods and services over the internet, provides diamond retailers with a global reach, offering customers a convenient shopping experience, easy comparison, customization options, secure transactions, access to reviews and ratings, and clear return policies. According to census.gov, retail trade sales increased by 0.6% from July 2023, and e-commerce sales in the second quarter of 2023 witnessed a notable 7.5% increase when compared to the same period in 2022. A significant share of 15.4% of all sales in the second quarter of 2023 occurred through online stores, emphasizing the substantial impact of the e-commerce sector on the diamond market.

Major companies in the diamond market are increasingly focusing on advanced diamond sourcing technologies, including blockchain, to secure a competitive edge. Blockchain technology offers a secure and unchangeable method for tracking the provenance of diamonds from their source to sale. For example, in May 2022, De Beers Group, a UK-based company specializing in the diamond industry, launched the Tracr blockchain platform to improve its diamond production processes. This platform is unique as it is the only distributed diamond blockchain that originates from the source, providing tamper-proof assurances of provenance at scale. It enables stakeholders to maintain an unalterable record of a diamond's origin, instilling confidence in jewelry retailers regarding their purchases. As consumers increasingly demand transparency about product origins, Tracr ensures reliable information about De Beers' diamonds throughout the value chain, offering source assurance for all their products.

Major players in the diamond market are innovating by introducing new products such as lab-grown diamonds to stay competitive. Lab-grown diamonds, created in a laboratory setting rather than through natural geological processes, offer an alternative to mined diamonds. In August 2023, Pandora A/S, a Denmark-based jewelry manufacturer, launched collections named Pandora Nova, Pandora Era, and Pandora Talisman featuring lab-grown diamonds set in sterling silver or 14k white or yellow gold. These lab-grown diamonds possess qualities identical to mined diamonds in terms of color, cut, clarity, and carat. The introduction of these collections aligns with Pandora's goal of democratizing diamonds through ethically and environmentally responsible practices, offering reasonably priced, high-quality jewelry with minimal environmental impact.

Major companies operating in the diamond market include Sumitomo Electric Industries Ltd., Anglo American plc, De Beers Group of Companies, Diamond Foundry Inc., Alrosa PJSC, Swarovski AG, Henan Huanghe Whirlwind Co. Ltd., ILJIN Co. Ltd., Petra Diamonds Limited, Element Six Limited, Lucara Diamond Corporation, Zhengzhou Sino-Crystal Diamond Co. Ltd., Gem Diamonds Limited, WD Lab Grown Diamonds, New Diamond Technology LLC, IIa Technologies Pte. Ltd., Clean Origin LLC, Pure Grown Diamonds Inc., ABD Diamonds Private Limited, Washington Diamonds Corporation, Diam Concept International, Applied Diamond Inc., Crystallume PVD, Mittal Diamonds, D.NEA Diamonds, Finegrown Diamonds, Zhongnan Diamond Co. Ltd., SedKrist GmbH.

Africa was the largest region in the diamond market in 2024. The regions covered in the diamond market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the diamond market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.

The diamond market includes revenues earned by entities by using the revenues generated by diamonds to aid national development. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

Diamond mining involves the extraction of diamonds of varying carats through processes that combine art, science, engineering, and extensive labor. There are three methods employed in diamond mining, pipe mining, alluvial mining, and marine mining.

The main categories of diamonds are designated for jewelry making and industrial applications. Jewelry making pertains to ornamental pieces such as rings, necklaces, earrings, and bracelets, crafted from materials that may or may not be precious (such as gold, silver, glass, and plastic), set with genuine or imitation gems, and worn for personal adornment. The grades of diamonds include gem grade and industrial grade. Various mining methods encompass both underground mining and surface mining.

The diamond market research report is one of a series of new reports that provides diamond market statistics, including diamond global industry, regional shares, competitors with a diamond market share, detailed diamond market segments, market trends and opportunities, and any further data you may need to thrive in the diamond industry. This diamond global market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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