Emerging Markets And Increasing Disposable Income Fueling Diamond Market Growth: A Key Driver Powering Diamond Market Growth In 2025

The Diamond Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

How Big Is the Diamond Market Size Expected to Be by 2034?
The diamond industry has seen vigorous growth in recent years. The market value is predicted to surge from $2.52 billion in 2024 to $2.66 billion in 2025 with a compound annual growth rate (CAGR) of 5.6%. The historical growth trend is tied to factors such as the jewelry sector, its representation of luxury and social standing, industrial uses, investment potential and storage of value, as well as cultural importance.

In the coming years, experts predict a robust expansion of the diamond market. Forecasts project a growth to $3.35 billion by 2029, with a compound annual growth rate of 5.9%. Factors contributing to this prospective growth during the forecast period include enduring demand for jewelry, increased affluence and expansion of the middle class, preferences in emerging markets, ethical and sustainable procurement, and innovative marketing and retail strategies. Key trends projected for this period consist of more custom and personalized diamond jewelry, the use of artificial intelligence in diamond grading, investments in diamond futures, a rising fascination with vintage and used diamonds, and a shifting consumer attitude favoring experiences over physical possessions.

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What Are the Emerging Segments Within the Diamond Market?
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

Subsegments:
1) By Jewelry Making: Engagement Rings, Wedding Bands, Necklaces And Pendants, Earrings, Bracelets
2) By Industrial Applications: Cutting Tools, Grinding Wheels, Drilling Equipment, Polishing And Finishing Tools, Wire Saw Blades

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What Long-Term Drivers Are Shaping Diamond Market Trends?
The diamond market's expansion is attributed to the burgeoning populace in developing nations like China and India, which is triggered by a spike in disposable income, heightened demand, and credit accessibility. Defined as the money left to save or spend after deducting income taxes, disposable income plays a pivotal role. A type of diamond known as marine mining emerges from offshore placer deposits. As per Diamondrensu, a company in India that focuses on crafting and trading diamond-centric products, there was a notable surge in global diamond investments in 2023, reaching $18,000,000 from $15,200,000 in the previous year. Thus, the growth of the diamond market is propelled by the upswing in disposable income.

Who Are the Top Competitors in Key Diamond Market Segments?
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

What Are the Major Trends Shaping the Diamond Market?
Leading firms within the diamond market, such as the UK-based De Beers Group, are capitalizing on state-of-the-art diamond sourcing technologies like blockchain to stay ahead of the competition. The use of blockchain technology within the diamond sector offers a robust and unchangeable mechanism for tracking diamond provenance from their origin to their point of sale. De Beers Group, in May 2022, introduced the Tracr blockchain platform, a unique distributed diamond blockchain system, with the aim of improving its diamond production capabilities. This platform traces the diamonds right from their source, offering a tamper-proof guarantee of their origin at a large scale. This way, it provides an unalterable history of a diamond's journey, instilling confidence in jewelry retailers during their purchases. As the demand for product origin transparency intensifies among consumers, Tracr ensures that they receive accurate data about De Beers' diamonds at every stage of the value chain, thereby guaranteeing source validation for their entire production.

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Which Regions Are Becoming Hubs for Diamond Market Innovation?
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.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Diamond Market?
2. What is the CAGR expected in the Diamond Market?
3. What Are the Key Innovations Transforming the Diamond Industry?
4. Which Region Is Leading the Diamond Market?

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