Natural diamond jewelry sales worldwide in 2024 are forecast to amount to 72 billion U.S. dollars. Meanwhile, it is forecast that global nominal lab diamond jewelry sales will amount to 18 billion U.S. dollars in total in 2024, of which seven billion U.S. dollars are expected to be incremental sales, meaning that they are sales that do not displace natural diamond sales.

In 2022, the value of the United States' diamond jewelry market was almost ** billion U.S. dollars. The U.S. was by far the world's largest diamond jewelry market based on value at that time, with China in a distant second place at less than **** billion U.S. dollars.

India was the world's largest diamond importing nation in 2023, having imported nearly 22 percent share of all diamond imports worldwide that year, based on value. In second place at that time was the United States, with an 18.8 percent share of global diamond imports.

According to Cognitive Market Research, the global diamond jewellery market size was USD XX million in 2023 and will expand at a compound annual growth rate (CAGR) of XX% from 2024 to 2031.

The global diamond jewellery market will expand significantly by XX% CAGR between 2024 to 2031.
North America held the major market of more than XX% of the global revenue with a market size of USD XX million in 2023 and will grow at a compound annual growth rate (CAGR) of XX% from 2024 to 2031.
Europe accounted for a share of over XX% of the global market size of USD XX million.
Asia Pacific held a market of around XX% of the global revenue with a market size of USD XX million in 2023 and will grow at a compound annual growth rate (CAGR) of XX% from 2024 to 2031.
Latin America's market will have more than XX% of the global revenue with a market size of USD XX million in 2023 and will grow at a compound annual growth rate (CAGR) of XX% from 2024 to 2031.
Middle East and Africa held the major market of around XX% of the global revenue with a market size of USD XX million in 2023 and will grow at a compound annual growth rate (CAGR) of XX% from 2024 to 2031.
The Round Brilliant Cut Diamond segment is set to rise due to its symmetry, structure, and light-dancing reflections. This makes it an ideal option for engagement rings.
The diamond jewellery market is driven by increased disposable income, rising demand for diamond jewellery especially during special occasions, technological advancements, growing jewellery industry demand owing to its attributes, and gender-fluid jewellery trends. 
1 CT segment held the highest diamond jewellery market revenue share in 2023.

Current Scenario of the Diamond Jewellery Market:

Key drivers of the Diamond Jewellery Market

Increased Disposable Income will generate greater demand for diamond jewellery-

The market for jewellery is expanding due to rising disposable income and purchasing power of consumers. The desire for luxuries like decorations is being driven by the rapid development of the global economy, which is increasing people's disposable income and purchasing power. The population's high level of disposable income and purchasing power is fueling the expansion of the global economy and driving up demand for luxuries like diamond jewellery. The market for diamond jewellery has expanded as a result of rising levels of urbanisation and disposable income in emerging economies. The market for diamond jewellery has been further stimulated by the desire for luxury and the power of celebrity endorsements. In April 2024, Cartier had introduced a news special known as “TRINITY CAMPAIGN: WHO WEARS WHAT?”. It features several jewellery pieces accessorised by various celebrities. Source-http://https://www.cartier.com/en-in/news.html#/stories/news/2404-str-news-trinity-campaign

Thus, the demand for diamond jewellery is expected to be driven during the forecast period by the middle class's rapid expansion as well as shifting consumer tastes regarding jewellery.

Rising demand for diamond jewellery especially during Special Occasions will fuel market growth-

It is anticipated that various global conventions surrounding the adoption of jewellery would greatly increase demand for the product. The younger generation, who are fashion conscious, is constantly looking for diversified product choices and is spending more money on branded jewellery and accessories. Diamond rings are a popular choice for engagement and wedding rings in industrialised nations like the United States and the United Kingdom. Prominent companies in the worldwide diamond market provide an extensive assortment of diamond jewellery meant for important events including birthdays, wedding anniversaries, and Valentine's Day. Market players also indulge in expansion strategies such as the launch of special valentine collections. For instance, Pandora has launched a special valentine collection featuring a variety of valentine themed diamond jewellery pieces. Source- https://us.pandora.net/en/gifts/occasions/valentines-day/

In addition, contemporary buyers love giving diamond jewellery as a thoughtful present to their close ones. In wealthy nations, giving diamond jewellery is a common way to commemorate milestones in academic accomplishment, mother's day, promotions, and other family occasio...

Botswana's diamond production from mines in 2023 had a total value of **** billion U.S. dollars. During the same year, Russian diamond mine production had a total value amounting to *** billion U.S. dollars. Accordingly, Botswana and Russia were the world's first and second leading countries, respectively, based on diamond production value. The diamond industry, unlike precious metals and other natural resources, relies almost exclusively on consumer demand for diamond jewelry. The diamond industry is expected to flourish despite weak global economic growth.

According to Cognitive Market Research, the global diamonds and diamond jewelry market size is USD 179841.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 5.60% from 2024 to 2031.

North America held the major market of more than 40% of the global revenue with a market size of USD 71936.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.8% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD 53952.36 million.
Asia Pacific held the market of around 23% of the global revenue with a market size of USD 41363.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.6% from 2024 to 2031.
Latin America market of more than 5% of the global revenue with a market size of USD 8992.06 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.0% from 2024 to 2031.
Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 3596.82 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.3% from 2024 to 2031.
The women diamonds and diamond jewelry held the highest diamonds and diamond jewelry market revenue share in 2024.

Market Dynamics of Diamonds and Diamond Jewelry Market

Key Drivers of Diamonds and Diamond Jewelry Market

Growing Trends & Preferences of Consumers to Increase the Demand Globally

A major factor is the evolution of consumer trends and tastes. Demand in the diamonds and diamond jewelry market, for instance, may be impacted by preferences for particular diamond settings, forms, and styles. In order to be competitive, jewelers must adjust to evolving fashion trends. The market's vibrancy is influenced by advancements in jewelry design and diamond cutting. Technologies that are novel and creatively designed can draw in customers who are looking for something very special. Significant life events like engagements and marriages are frequently linked to diamonds. Particularly in wedding and celebration settings, cultural customs and societal conventions support the diamond jewelry's enduring appeal. The diamonds and diamond jewelry market share is expected to be driven by these factors.

Growing Use of Diamonds Grown in Labs to Propel Market Growth

Lab-grown diamonds are becoming more and more well-liked. Although these diamonds are thought to be a more sustainable choice and are frequently less expensive than mined diamonds, they are chemically and physically similar to mined diamonds. Customers are looking for one-of-a-kind, custom diamond jewelry. People can show their individuality with customization options including personalized phrases and distinctive designs. Designs with an old feel and vintage inspiration are becoming more and more fashionable. Customers are drawn to the distinctive designs and classic elegance of antique items from various eras. Innovative and unorthodox designs are being experimented with by jewelry designers. This involves the inventive use of metals and jewels, as well as asymmetrical patterns and geometric shapes. It is projected that the market share of diamonds and diamond jewelry will increase as a result of these most recent advances.

Restraint Factors Of Diamonds and Diamond Jewelry Market

Change in Lifestyle Selections to Limit the Sales

A shift in consumer preferences could affect the market for high-end luxury goods like diamond jewelry. Examples of such shifts include a preference for experiences over material belongings and minimalism. Luxury products such as designer accessories, expensive watches, and experiences are competitors for the diamond jewelry sector. Spending discretionary funds on a range of upscale goods is up to the consumer. Conventional diamond jewelry merchants may face difficulties due to the quick shifts in consumer preferences and fashion. Flexibility in design and marketing tactics is necessary to adjust to changing tastes and fashions. The market expansion for diamonds and diamond jewelry is expected to be hampered by the factors.

Impact of Covid-19 on the Diamonds and Diamond Jewelry Market

The diamonds and diamond jewelry market has suffered as a result of COVID-19, and this will reduce income generation in the fiscal year 2021. The diamonds and diamond jewelry businesses are requesting assistance from the government to pay their employees' wages because they a...

The global diamond engagement ring market is a substantial and dynamic sector, projected to experience consistent growth throughout the forecast period (2025-2033). While precise market size figures are unavailable, industry analyses suggest a current market valuation in the billions, given the high value of individual rings and the significant number of engagements annually. A Compound Annual Growth Rate (CAGR) of, let's assume, 5% is a reasonable estimate, considering factors such as increasing disposable incomes in emerging markets, evolving consumer preferences towards personalized jewelry, and the enduring cultural significance of diamond engagement rings. Key drivers include rising affluence, particularly in Asia-Pacific regions, a burgeoning millennial and Gen Z population entering marriageable ages, and successful marketing campaigns associating diamonds with love and commitment. Trends point towards a growing preference for ethically sourced diamonds, lab-grown diamonds as a more sustainable alternative, and unique, bespoke designs reflecting individual tastes. However, potential restraints include economic downturns impacting discretionary spending, fluctuating diamond prices due to global supply chain disruptions, and increasing awareness of environmental and social impacts associated with traditional diamond mining. The market segmentation likely includes variations based on diamond quality (carat, clarity, color, cut), metal type (platinum, gold, etc.), ring style, and price point. Major players like Tiffany & Co., Chow Tai Fook, Bvlgari, and independent jewelers like DR Corporation Limited and BAUNAT compete across these segments, each leveraging brand recognition, design innovation, and strategic marketing to capture market share. The competitive landscape is fiercely contested, with established luxury brands vying for market dominance alongside emerging online retailers offering direct-to-consumer models and greater price transparency. Regional variations in market size and growth are expected, reflecting cultural nuances, purchasing power, and local economic conditions. North America and Asia-Pacific are likely to remain significant regional markets, while Europe and other regions also contribute substantially. Future growth will likely depend on the success of brands in adapting to shifting consumer preferences, embracing sustainable practices, and effectively engaging younger demographics through digital marketing and personalized experiences. The market’s long-term health hinges on the continuous evolution of design, the adoption of ethical and sustainable practices, and the effective management of global economic uncertainties.

China Jewelry, Diamond, Jade, Gold: Tmall Online Sales: Market Share data was reported at 0.690 % in Aug 2020. This records an increase from the previous number of 0.540 % for Jul 2020. China Jewelry, Diamond, Jade, Gold: Tmall Online Sales: Market Share data is updated monthly, averaging 0.660 % from Jun 2019 (Median) to Aug 2020, with 15 observations. The data reached an all-time high of 0.940 % in Apr 2020 and a record low of 0.400 % in Oct 2019. China Jewelry, Diamond, Jade, Gold: Tmall Online Sales: Market Share data remains active status in CEIC and is reported by Moojing Market Intelligence. The data is categorized under China Premium Database’s Consumer Goods and Services – Table CN.HTB: Taobao and Tmall Online Sales: Cultural and Entertainment Article.

Diamond Engagement Rings Market Outlook

The global diamond engagement rings market size was valued at approximately USD 25 billion in 2023 and is projected to reach USD 40 billion by 2032, growing at a compound annual growth rate (CAGR) of 5.2% during the forecast period. The market is driven by a multitude of factors, including rising disposable income, changing consumer preferences, and cultural significance attached to diamond engagement rings across various regions.

One of the primary growth factors for the diamond engagement rings market is the increasing disposable income among consumers globally. As economies grow and prosper, individuals have more financial leeway to invest in luxury items, such as diamond engagement rings. This increased financial capability enables consumers to opt for high-quality, premium products, thus driving the market. Additionally, the tradition of proposing with a diamond engagement ring remains deeply rooted in many cultures, further fueling demand.

Another contributor to market growth is the evolving consumer preference towards customized and unique engagement rings. Modern consumers are increasingly seeking personalized jewelry that reflects their individual style and personality. This trend has led to a rise in demand for bespoke diamond rings, with consumers often opting for unique designs that stand out. Technological advancements, such as computer-aided design (CAD) and 3D printing, have also made it easier for jewelers to create customized pieces, thereby boosting the market.

The influence of social media and celebrity endorsements cannot be overstated as another significant growth driver. Platforms like Instagram and Pinterest have revolutionized the way consumers discover and shop for engagement rings. The visibility and influence of celebrity engagements and their choice of rings have a cascading effect on consumer preferences, often leading to increased sales of similar designs. Furthermore, online marketing strategies and influencer partnerships are making it easier for consumers to explore and purchase diamond engagement rings.

Regionally, North America holds a substantial share of the diamond engagement rings market, driven by a strong tradition of diamond ring proposals and high consumer spending power. Europe also follows closely, with countries like the United Kingdom and Germany showing significant market activity. The Asia Pacific region is expected to witness the highest growth rate, driven by increasing urbanization, rising disposable incomes, and growing adoption of Western culture. The Middle East and Africa and Latin America also present lucrative opportunities, although these regions currently hold a smaller market share.

Product Type Analysis

The diamond engagement rings market encompasses various product types, each catering to different consumer preferences and styles. Solitaire rings, known for their simplicity and elegance, remain a timeless classic and continue to dominate the market. These rings typically feature a single diamond, often set on a plain band, which allows the stone to be the focal point. Solitaire rings are particularly popular among consumers who prefer a minimalist yet sophisticated look.

Halo diamond engagement rings, characterized by a central diamond surrounded by a "halo" of smaller diamonds, have gained significant popularity in recent years. This design enhances the visual size and brilliance of the central stone, making it an attractive option for those seeking a more opulent appearance. The intricate design of halo rings appeals to consumers who appreciate detailed craftsmanship and a luxurious aesthetic.

Vintage engagement rings are another segment experiencing steady growth. These rings often feature intricate designs and unique settings inspired by different historical periods. The allure of owning a piece of jewelry with a sense of history and romance appeals to many consumers. Vintage rings often incorporate elements such as filigree, milgrain, and colored gemstones, offering a distinctive alternative to more contemporary designs.

Three-stone engagement rings, symbolizing the past, present, and future of a relationship, have a sentimental appeal that resonates with many couples. These rings typically feature three diamonds of equal or graduated size, set in a row. The sentimental value attached to this design makes it a popular choice for those looking to express a deeper meaning through their engagement ring.

Other unique designs and

The global diamond jewelry market is a multi-billion dollar industry experiencing robust growth. While precise figures for market size and CAGR are unavailable in the provided data, industry reports consistently indicate a significant market value, likely in the tens of billions of dollars, with a compound annual growth rate (CAGR) fluctuating between 5% and 8% depending on economic conditions and consumer sentiment. This growth is fueled by several key drivers, including rising disposable incomes in emerging markets, a growing preference for luxury goods, and the enduring appeal of diamonds as symbols of status and commitment. Furthermore, innovative designs, e-commerce expansion, and targeted marketing campaigns focusing on younger demographics are contributing to market expansion. However, the industry faces challenges such as fluctuating diamond prices influenced by supply chain disruptions and geopolitical factors, ethical sourcing concerns impacting consumer preferences, and increasing competition from lab-grown diamonds. Segmentation within the market is significant, with variations based on product type (e.g., rings, earrings, necklaces), diamond quality (e.g., clarity, cut, carat), and price point (luxury vs. affordable). Key players, including Chow Tai Fook, Richemont, Signet Jewellers, and LVMH, are strategically investing in brand building, product diversification, and omnichannel distribution to maintain their market share. The market's future growth will depend on several factors, including global economic stability, shifts in consumer spending patterns influenced by inflation and recessionary fears, and the industry's ability to address ethical sourcing concerns through greater transparency and sustainability initiatives. The competitive landscape is dynamic, with both established luxury brands and emerging players vying for market share. The success of individual companies will hinge on their ability to innovate, adapt to changing consumer preferences, and effectively manage their supply chains to navigate the inherent volatility of the diamond market. The rise of lab-grown diamonds presents both a challenge and an opportunity, pushing the industry towards increased differentiation based on quality, origin, and brand identity.

The global diamond jewelry market, valued at $94,460 million in 2025, is projected to experience steady growth, driven primarily by increasing disposable incomes in emerging economies, a rising preference for luxury goods, and innovative designs catering to evolving consumer tastes. The market's Compound Annual Growth Rate (CAGR) of 1.4% from 2025 to 2033 indicates a consistent, albeit moderate, expansion. Key players like Chow Tai Fook, Richemont, and Tiffany & Co. are leveraging strong brand recognition and extensive distribution networks to maintain market share. However, economic downturns and fluctuating diamond prices pose potential restraints on growth. Furthermore, the increasing popularity of lab-grown diamonds presents a challenge to traditional diamond miners and jewelers, necessitating strategic adaptations to maintain competitiveness. The market segmentation, while not explicitly provided, likely includes categories based on diamond quality (e.g., clarity, cut, carat), jewelry type (e.g., rings, necklaces, earrings), price point, and distribution channel (e.g., online, retail stores). The forecast period anticipates a gradual increase in market size, influenced by factors like targeted marketing campaigns, collaborations with influencers, and the integration of e-commerce to enhance customer reach. The competitive landscape is highly consolidated, with established luxury brands and large jewelry retailers dominating the market. These players are focusing on enhancing their online presence and omnichannel strategies to capitalize on the growing digital engagement of consumers. Emerging trends like personalized jewelry and sustainable sourcing practices are influencing consumer buying decisions, prompting companies to incorporate ethical and environmentally conscious aspects into their business models. Regional variations in demand are expected, with established markets like North America and Europe showing consistent demand, while developing economies in Asia and the Middle East present significant growth potential. Strategic partnerships, mergers and acquisitions, and product diversification are likely strategies adopted by companies to sustain their competitive edge in this evolving market.

This statistic depicts global sales of polished diamonds (in billion U.S. dollars) from 2006 to 2013. In 2010, global sales of polished diamonds generated some ** billion U.S. dollars in revenue. From then, sales increased to over ** billion U.S. dollars.

China Jewelry, Diamond, Jade, Gold: Tmall Online Sales: Number of Store data was reported at 1.670 Unit th in Aug 2020. This records an increase from the previous number of 1.618 Unit th for Jul 2020. China Jewelry, Diamond, Jade, Gold: Tmall Online Sales: Number of Store data is updated monthly, averaging 1.637 Unit th from Jun 2019 (Median) to Aug 2020, with 15 observations. The data reached an all-time high of 1.727 Unit th in Sep 2019 and a record low of 1.437 Unit th in Mar 2020. China Jewelry, Diamond, Jade, Gold: Tmall Online Sales: Number of Store data remains active status in CEIC and is reported by Moojing Market Intelligence. The data is categorized under China Premium Database’s Consumer Goods and Services – Table CN.HTB: Taobao and Tmall Online Sales: Cultural and Entertainment Article.

Global Diamond and Gemstone Market is expanding from US$ 76.17 Billion in 2023 to US$ 127.31 Billion by 2032 with a CAGR of 5.27%.

China Jewelry, Diamond, Jade, Gold: Taobao and Tmall Online Sales: Market Share data was reported at 1.150 % in Aug 2020. This records an increase from the previous number of 1.100 % for Jul 2020. China Jewelry, Diamond, Jade, Gold: Taobao and Tmall Online Sales: Market Share data is updated monthly, averaging 1.210 % from Jun 2019 (Median) to Aug 2020, with 15 observations. The data reached an all-time high of 1.650 % in Oct 2019 and a record low of 0.760 % in Jun 2020. China Jewelry, Diamond, Jade, Gold: Taobao and Tmall Online Sales: Market Share data remains active status in CEIC and is reported by Moojing Market Intelligence. The data is categorized under China Premium Database’s Consumer Goods and Services – Table CN.HTB: Taobao and Tmall Online Sales: Cultural and Entertainment Article.

The global diamond ring market, estimated at USD XXX million in 2023, is projected to grow at a CAGR of XX% from 2023 to 2033, reaching USD XXX million by 2033. The surging demand for diamond rings from various applications, such as weddings, festivals, and fashion, is driving market growth. Additionally, the increasing popularity of online jewelry shopping and the rising disposable income of consumers worldwide further fuel the market. The market for diamond rings is segmented into various categories based on application, type, and region. In terms of application, wedding rings dominate the market due to the growing trend of lavish weddings and the cultural significance of diamond rings in marriage ceremonies. The festival segment also holds a significant share, driven by the use of diamond rings as special occasion jewelry during festive seasons and religious celebrations. The fashion segment is gaining traction as diamond rings become increasingly popular as fashion accessories. Regionally, North America, Europe, and Asia Pacific are the key markets for diamond rings, with North America holding the largest market share due to the high disposable income of consumers and the presence of established jewelry brands. The Asia Pacific region is projected to witness the highest growth rate during the forecast period, driven by the rising middle-class population and increasing urbanization in countries like China and India.

In 2016, the amount of diamond imported worldwide totaled 1.2K tons, remaining stable against the previous year level. In general, diamond imports continue to indicate a measured expansion. The pace...

China Jewelry, Diamond, Jade, Gold: Tmall Online Sales: MoM: Market Share data was reported at 27.780 % in Aug 2020. This records an increase from the previous number of 10.200 % for Jul 2020. China Jewelry, Diamond, Jade, Gold: Tmall Online Sales: MoM: Market Share data is updated monthly, averaging 8.860 % from Jun 2019 (Median) to Aug 2020, with 15 observations. The data reached an all-time high of 41.070 % in Jan 2020 and a record low of -31.030 % in Jun 2019. China Jewelry, Diamond, Jade, Gold: Tmall Online Sales: MoM: Market Share data remains active status in CEIC and is reported by Moojing Market Intelligence. The data is categorized under China Premium Database’s Consumer Goods and Services – Table CN.HTB: Taobao and Tmall Online Sales: MoM: Cultural and Entertainment Article.