Press release
Diamond Industry Outlook 2025-2029: Market Set to Cross $3.35 Billion Milestone
Diamond Market
How Large Will the Diamond Market Size By 2025?
The size of the diamond market has seen robust growth in the past few years. Its expansion from $2.52 billion in 2024 to $2.66 billion in 2025, representing a compound annual growth rate (CAGR) of 5.6%, demonstrates this strong growth. Factors such as the jewelry industry, portrayal as luxury and status symbols, industrial uses, investment avenues and stores of value, and cultural importance, have all contributed to the growth experienced in the past.
How Big Is the Diamond Market Size Expected to Grow by 2029?
Predictions indicate a robust expansion in the diamond market in the coming years, with projections pointing towards a growth to $3.35 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 5.9%. The proliferation during the forecast period can be ascribed to factors such as sustained demand for jewelry, the rise in wealth and expansion of the middle class, evolving market inclinations, ethical and sustainable sourcing strategies, and marketing and retail innovations. The forecast period will also see significant trends like bespoke and personalized diamond jewelry, the application of artificial intelligence in diamond grading, investments in diamond futures, a renewed fondness for vintage and secondhand diamonds, and a paradigm shift in consumer behavior prioritizing experiences over material possessions.
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Which Key Market Drivers Powering Diamond Market Expansion and Growth?
The diamond market's expansion is being driven by a rising population in developing nations such as China and India. This expansion is attributed to an increase in disposable income, greater demand and improved credit access. The term 'disposable income' is used to describe the money left over for spending or saving once income taxes have been paid by an individual or a household. Offshore placer deposits are used in a type of diamond called marine mining. Diamondrensu, a company in India that specializes in the creation and sale of diamond-related items, reported in February 2024 that the total worldwide diamond investments had grown to $18,000,000 in 2023, up from $15,200,000 in 2022. This significant growth in investment is a testament to the role of rising disposable income in fueling the expansion of the diamond market.
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Which Fast-Growing Trends Are Poised to Disrupt the Diamond Market?
To gain a competitive edge, major corporations in the diamond market, like De Beers Group, are harnessing advanced diamond sourcing technologies, including blockchain technology. The utilization of blockchain in the diamond industry offers a secure and unchangeable method to trace a diamond's journey from extraction to sale. In May 2022, the UK-based De Beers Group unveiled its Tracr blockchain platform, aimed at improving its diamond production workflows. Tracr, as the sole distributed diamond blockchain originates from the source itself, delivering a secure, non-editable proof of origin on a large scale. This allows all relevant parties to keep an unalterable record of a diamond's history, instilling confidence in jewelry retailers for their purchases. As customer demand for product origin transparency grows, Tracr offers dependable details about the origins of De Beers' diamonds along the entire value chain, guaranteeing the assurance of source for all their production.
What Are the Emerging Segments in 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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Who Are the Global Leaders in the Diamond Market?
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
Which are the Top Profitable Regional Markets for the Diamond Industry?
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.
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