Press release
Diamond Market Size, 2024-2033 Trends, New Opportunities, Share Analysis
Diamond Market
The Business Research Company presents an extensive market research report on the Diamond Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The diamond market size has grown strongly in recent years. It will grow from $2.43 billion in 2023 to $2.59 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. 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 $3.29 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to continued demand in 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.
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Key Market Players:
Major companies operating in the diamond market report are Sumitomo Electric Industries Ltd., Anglo American plc, Rockwell Diamonds Limited, 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, CENTAURUS Technologies Inc., 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., Heyaru Group, SedKrist GmbH
Market Drivers:
The growth in the diamond market is due to the increasing population in developing countries such as China and India owing to rising disposable income, increased demand, and availability of credit. Disposable income refers to the amount of money that an individual or household has to spend or save after income taxes have been deducted. Marine mining is a form of diamond that is used in offshore placer deposits. For instance, in 2021, according to the Bureau of Statistics of China, a China-based Government agency data, disposable personal income in China increased to 47412 CNY 2021. Therefore, the rising disposable income is driving the growth of the diamond market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/diamond-global-market-report
The diamond market covered in this report is segmented -
1) By Type: Jewelry Making, and Industrial Applications
2) By Mining Type: Underground Mining, Surface Mining
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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