Emerging Markets And Increasing Disposable Income Fueling Diamond Market Growth: Powering Innovation and Expansion in the Diamond Market by 2025

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What Is the Expected CAGR for the Diamond Market Through 2025?
In the past few years, there has been a stable expansion in the diamond market size. The prediction is it will increase from $1.33 billion in 2024 to $1.39 billion in 2025, boasting a compound annual growth rate (CAGR) of 4.1%. The consistent rise during the historic period is driven by the jewelry sector, its representation of luxury and status, its industrial applications, its role as an investment and reserve of value, and its cultural importance.

What's the Projected Size of the Global Diamond Market by 2029?
In the forthcoming years, a robust expansion is predicted in the diamond market which is projected to reach $1.72 billion by 2029, showcasing a compound annual growth rate (CAGR) of 5.6%. Several factors that contribute to this projected growth in the forecast period include sustained jewelry demand, increased prosperity, and middle-class expansion, evolving market preferences, ethical sourcing practices, and marketing and retail innovation. The key trends to watch out for during the forecast period are customizing and personalizing diamond jewelry, the use of artificial intelligence in diamond grading, investment in diamond futures, a surge in interest for vintage and pre-owned diamonds as well as a shift in customer behavior towards experiences rather than possessions.

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Top Growth Drivers in the Diamond Industry: What's Accelerating the Market?
The diamond market expansion can be credited to the growing population in emerging economies such as China and India, which is spurred by increasing disposable income, a surge in demand, and the ease of access to credit. The concept of disposable income relates to the funds an individual or a family has left for spending or saving after subtracting their income tax obligations. Offshore placer deposits utilize a form of diamond known as marine mining. For example, Diamondrensu, a company based in India focusing on the development and sale of diamond-centric products, stated in February 2024 that global diamond investments had escalated dramatically to $18,000,000 in 2023 from $15,200,000 in 2022. Consequently, the burgeoning disposable income is fueling the diamоnd market's ascension.

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What Are the Key Trends Driving Diamond Market Growth?
Key players within the diamond market, such as De Beers Group, are leveraging cutting-edge diamond sourcing technologies like blockchain for gaining a competitive edge. The use of blockchain technology in the diamond industry offers a secure and unchangeable method to trace the journey of diamonds from extraction to their point of sale. For example, in May 2022, De Beers Group, a diamond specialty enterprise based in the UK, introduced the Tracr blockchain platform to optimize its diamond manufacturing process. Tracr, the only blockchain protocol to begin its tracing from the source, guarantees a corruption-free certification of origin at a large scale. This allows stakeholders to preserve an unalterable record of a diamond's source, thereby instilling confidence in jewelry retailers during their purchase process. With more and more consumers demanding clarity regarding the origin of their products, the Tracr platform furnishes verifiable details about De Beers' diamonds throughout the supply chain, assuring source integrity for all its produce.

What Are the Main 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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Which Top Companies are Driving Growth 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 Regions Will Dominate the Diamond Market Through 2029?
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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