Press release
Diamond Market to Garner Substantial Growth Backed by Surging Demand for E-commerce Platforms Globally, reports Fortune Business Insights™
Diamond Market
A diamond is an exotic and naturally occurring mineral that is formed when carbon is subjected to high pressure for millions of years. They are formed under high pressure and temperature conditions and are sourced from about 100 miles below the earth's surface. In addition to this, they are about 58 times harder than any material present on the globe. The growing demand for this natural gem leads to its high price in the global marketplace.
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COMPETITIVE LANDSCAPE
Major Companies Focus on Collaboration to Expand Their Product Portfolio
The global diamond market comprises of several small, medium, and large companies that are focusing on collaboration activities to expand their diamond product portfolios. These companies are further striving to consolidate their positions in the fiercely competitive global marketplace by adopting strategies such as partnership, the introduction of new products, and mergers and acquisitions during the forecast period.
The report covers extensive competitive analysis which includes the following data points -
1. Business Overview
2. Business Model
3. Financial Data
4. Financial - Existing
5. Financial - Funding
6. Product/Service Segment Analysis and specification
7. Recent Development and Company Strategy Analysis
8. SWOT Analysis
What does the Report Include?
The market report includes quantitative and qualitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to introduce new products, announce partnerships, and collaborate which will further contribute to the growth of the market between 2019 and 2026. Moreover, the research analyst has adopted several research methodologies such as PESTEL and SWOT analysis to extract information about the current trends and industry developments that will drive the market growth in the forthcoming years.
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List of the Companies Profiled in the Market:
De Beers
ALROSA
Applied Diamonds
Sumitomo Electric
Sino-Crystal
Henan Haunghe Whirlwind
Others
DRIVING FACTORS
Increasing Spending Power of Millennial to Surge Demand
High disposable income and rising living standards are leading to high spending habits by millennials across the globe. According to a study by the Diamond Miner's, back in 2017, two-thirds of the demand for the exotic gem was from the GEN Z and the millennial. Presently, the advancement in technology has surged traffic on e-commerce sites to buy luxury products. This is propelling the demand for exotic products that are expected to contribute to the growth of the global diamond market in the forthcoming years.
The rising uncertainty over the prices of this natural gem owing to the high cost incurred in their extraction and the high demand for products is anticipated to hinder the market growth to some extent. However, the surging demand for lab-grown synthetic diamonds is expected to drive market growth largely during the forecast period.
REGIONAL INSIGHTS
Growing Demand for Exotic Wedding Rings in North America to Favor Growth
Among all the regions, North America is expected to hold the largest share of the global diamond market in terms of revenue in the forthcoming years. This is attributable to the increasing demand for exotic diamond-studded wedding rings among people in countries such as the U.S. in region.
On the other hand, Europe is expected to hold the second position in the market owing to the growing demand for fine jewelry and rings for occasions such as weddings, engagements, and birthdays in the region between 2019 and 2026.
Industry Development:
January 2020 - De Beers Group announced its collaboration with RDI Diamonds Inc. According to the company, the collaboration is aimed at sourcing diamond grading reports that is expected to consolidate their position in the highly competitive market.
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The major points covered in the table of contents:
Overview: This part provides a summary of the report, as well as a broad overview of the global Diamond Market, to offer an understanding of the nature and contents of the research study.
Market Analysis: The research forecasts the market share of key segments of the Diamond Market with accuracy and reliability. This study may be used by industry participants to make strategic investments in key growth areas of the Diamond Market.
Analysis of Leading Players' Strategies: This report can be used by market participants to acquire a competitive advantage over their rivals in the Diamond Market.
Regional Growth Analysis: The report covers all of the key areas and countries. The regional analysis will assist market players in tapping into untapped regional markets, developing unique regional strategies, and comparing the growth of all regional markets.
Market Forecast: Report purchasers will get access to precise and validated estimations of the entire market size in terms of both value and volume. The study also includes estimates for the Diamond Market in terms of consumption, production, sales, and other factors.
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