Diamond Jewelry Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2021-2031

The Global Diamond Jewelry Market is projected to grow from USD 374.63 Billion in 2025 to USD 508.38 Billion by 2031, registering a CAGR of 5.22%. This sector comprises decorative personal adornments, such as rings, necklaces, and earrings, that feature cut and polished diamonds set within precious metals. Growth is primarily driven by the enduring cultural importance of bridal jewelry and rising disposable incomes in emerging economies, which fuel aspirational luxury consumption. Furthermore, the perception of high-quality diamonds as a tangible asset for wealth preservation continues to bolster demand among affluent buyers seeking appreciation. According to the Natural Diamond Council, the average price of natural diamond jewelry rose by 2.7% to $2,360 in 2024, reflecting resilient consumer valuation despite broader economic fluctuations.

A significant obstacle hindering market expansion is geopolitical instability, which disrupts global supply chains and complicates ethical sourcing protocols. Sanctions on major diamond-producing nations and strict tracking mandates increase compliance costs and create logistical bottlenecks for manufacturers. Additionally, macroeconomic headwinds, including inflation and slower economic growth in key consumer markets like China, dampen discretionary spending power, thereby restricting potential volume growth in the near term.

Market Drivers

The escalating consumer demand for lab-grown diamonds is fundamentally reshaping the global market by offering a price-accessible alternative that aligns with evolving value perceptions. This surge is particularly evident in the fashion and entry-level engagement segments, where buyers increasingly prioritize carat size and optical quality over geological origin. The segment's rapid expansion is compelling major retailers to pivot their inventory strategies to accommodate this new revenue stream, effectively democratizing access to larger stones. For instance, Pandora's 'Interim financial report for the second quarter of 2024' from August 2024 noted that revenue from its Lab-Grown Diamonds collection surged by 88% compared to the same period last year, illustrating the aggressive adoption rate of synthetic stones among mainstream consumers.

Simultaneously, the rising popularity of branded and customized jewelry collections acts as a stabilizing force, securing engagement from high-net-worth individuals who view heritage pieces as investment-grade assets. Established luxury houses are capitalizing on this trend by expanding their high-jewelry offerings, which continue to command premium pricing despite broader inflationary pressures. According to Richemont's 'Annual Report and Accounts 2024' released in May 2024, sales for its Jewellery Maisons, including Cartier and Van Cleef & Arpels, grew by 6% to €14.2 billion, demonstrating the enduring strength of the branded luxury sector. Conversely, the broader supply chain faces contraction adjustments; the Gem and Jewellery Export Promotion Council (GJEPC) reported that in 2024, gross exports of cut and polished diamonds from India declined to $15.9 billion for the fiscal year ending March 2024, reflecting the ongoing calibration between natural supply and shifting global demand.

Market Challenges

Macroeconomic headwinds, particularly the persistence of inflation and slower economic growth in key consumer markets like China, constitute a formidable challenge hampering the expansion of the Global Diamond Jewelry Market. As the cost of living rises and economic uncertainty prevails, consumers in these primary regions increasingly deprioritize discretionary luxury expenditures. This shift in spending behavior is especially damaging in China, a traditionally high-volume market, where economic stagnation reduces the appetite for high-ticket adornments. Consequently, retailers are compelled to adopt conservative inventory strategies, which creates a ripple effect down the supply chain, reducing orders for manufacturers and suppressing overall trade volumes.

The direct impact of these economic constraints is evident in recent trade performance metrics, illustrating a sharp contraction in market activity. According to the Gem & Jewellery Export Promotion Council, in the fiscal year ending March 2024, gross exports of cut and polished diamonds declined by 27.6% to $15.97 billion, a downturn largely attributed to weakened demand in major international markets. This significant reduction in export value underscores how sensitive the market is to broader economic health, as diminished purchasing power in critical regions directly restricts the industry's ability to sustain revenue growth.

Market Trends

The integration of blockchain technology for end-to-end supply chain provenance is rapidly becoming a standard operational requirement rather than a niche differentiator. This trend is heavily accelerated by stringent G7 sanctions on Russian-origin stones and a consumer base that increasingly demands irrefutable proof of ethical sourcing beyond simple certifications. Manufacturers and miners are adopting immutable digital ledgers to track a diamond's journey from the mine to the retail counter, ensuring compliance and rebuilding trust in natural stones. According to the De Beers Group's 'Building Forever 2024 Sustainability Report' from August 2025, the company has registered nearly three million rough diamonds on its Tracr blockchain platform since 2022, underscoring the industrial scale at which these traceability solutions are now being deployed to verify authenticity and origin.

Simultaneously, there is a distinct rise in hyper-personalization and bespoke manufacturing services, driven by consumers seeking unique forms of self-expression over mass-produced designs. Retailers are responding by expanding their in-house capabilities to offer custom design, modification, and repair services, effectively transforming jewelry purchasing into a co-creation experience. This shift allows brands to deepen customer engagement and generate high-margin recurring revenue streams that are less susceptible to the commoditization pressures affecting standard inventory. According to Signet Jewelers' 'Fiscal 2024 Annual Report' released in May 2024, revenue from the services category, which encompasses custom jewelry design and repair, achieved a 4.9% growth year-over-year, highlighting the increasing strategic importance of personalized service offerings in the current retail landscape.

Key Players Profiled in the Diamond Jewelry Market

• Harry Winston, Inc.
• Tiffany & Co
• Blue Nile Inc.
• Le Petit-Fils de L.-U. Chopard & Cie S.A.
• Signet Jewelers Limited (Zales)
• Tacori, Inc.
• Richemont International SA
• Amantran Gems and Jewels Pvt Ltd.
• Bulgari S.p.a.
• Titan Company Limited

Report Scope

In this report, the Global Diamond Jewelry Market has been segmented into the following categories:

Diamond Jewelry Market, by Product Type:

• Necklace
• Earrings
• Rings
• Bracelets
• Others

Diamond Jewelry Market, by Category:

• Daily Wear
• Work Wear
• Party & Festive Wear

Diamond Jewelry Market, by End User:

• Men
• Women
• Kids

Diamond Jewelry Market, by Distribution Channel:

• Online
• Offline

Diamond Jewelry Market, by Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Diamond Jewelry Market.

Available Customization

The analyst offers customization according to your specific needs. The following customization options are available for the report:

• Detailed analysis and profiling of additional market players (up to five).

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