This data release contains the U.S. salient statistics and world production data extracted from the DIAMOND (INDUSTRIAL) data sheet of the USGS Mineral Commodity Summaries 2022.

In 2022, the total value of the diamond jewelry market worldwide amounted to **** billion (nominal) U.S. dollars. That represented a slight decrease of *** billion U.S. dollars from the previous year, as the global diamond industry recovered from the results of the COVID-19 pandemic. The diamond jewelry industry: a market leader Diamonds are a rare and naturally occurring mineral that are comprised of carbon. Diamonds are the hardest known substance and are also chemically resistant. They have the highest thermal conductivity of any natural material. Diamonds also have special properties that make it the world’s most popular gemstone. These properties include a high index of refraction, high dispersion, and high luster. Russia had the largest diamond reserves of any country in the world in 2021. However, the United States had by far the largest market for diamond jewelry, which was worth several times more than that of second-placed China. De Beers: a company is forever? De Beers, headquartered in London, is one of the world’s largest and most successful diamond mining companies. Founded in 1888 by Cecil Rhodes, it has had a dominant presence in the global diamond industry ever since. Until the beginning of the 21st century, it had a monopoly on the diamond market. The revenue of De beers has been fluctuating since 2011, and in 2020 revenue rose to *** billion U.S. dollars. In the 20th century, De Beers embarked on a strategy to convince consumers that diamonds are the best way to effectively prove your love and commitment to a romantic partner. This spearheaded the diamond engagement ring trend. They created the famous slogan, “A Diamond is Forever".

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Diamond Market Size 2024-2028

The diamond market size is forecast to increase by USD 42.72 billion, at a CAGR of 8.09% between 2023 and 2028.

The market is experiencing significant growth, driven primarily by the increasing demand for diamond jewelry, particularly for engagement and wedding rings. This trend is fueled by cultural traditions, societal norms, and the desire for luxury and self-expression. Additionally, the emergence of synthetic diamonds in various applications, such as industrial and consumer electronics, is expanding the market's scope and potential. However, the market faces challenges, including the presence of counterfeit products in the e-retailing space. This issue undermines consumer trust and poses a threat to market integrity.
Companies must prioritize authenticity and transparency to mitigate the risks and maintain a strong market position. To capitalize on opportunities and navigate challenges effectively, market participants should focus on innovation, quality, and ethical sourcing. By addressing these factors, they can differentiate themselves and build lasting customer relationships.

What will be the Size of the Diamond Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2018-2022 and forecasts 2024-2028 - in the full report.
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The market continues to evolve, with dynamic interplays between various sectors shaping its landscape. Diamond engagement rings remain a significant application, with GIA certification playing a crucial role in ensuring transparency and trust. Simultaneously, diamond auctions provide a platform for buying and selling polished and rough diamonds, influencing market prices. The 4Cs of diamonds - carat weight, color, clarity, and cut - remain the benchmark for evaluating diamond quality. However, the advent of technology has led to advancements such as irradiation treatment, polishing wheels, and blockchain technology, enhancing diamond certification and traceability. Irradiation treatment alters the diamond's color, while polishing wheels refine its shape.

Blockchain technology offers enhanced transparency and security, ensuring ethical sourcing and traceability. Retail markups vary, with luxury goods commanding premium prices. Meanwhile, the rough diamond sector undergoes continuous transformation, with mining, processing, and value assessment shaping its market dynamics. Rough diamonds are cut and polished to create stunning jewelry pieces, such as earrings, pendants, and bracelets. Investment-grade diamonds attract investors, with conflict-free diamonds gaining popularity due to ethical considerations. Synthetic diamonds, including lab-grown and cultured diamonds, challenge the traditional market, offering cost-effective alternatives. Diamond Mining equipment and processing technologies continue to advance, enabling efficient extraction and refinement. The market's continuous evolution reflects the interplay between technology, consumer preferences, and industry trends.

How is this Diamond Industry segmented?

The diamond industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Application

  Jewelry making
  Industrial applications


Type

  Natural
  Synthetic


Mining Method

  Open Pit
  Underground
  Alluvial
  Marine


Cut/Shape

  Round Brilliant
  Princess
  Cushion
  Emerald
  Oval
  Pear
  Marquise
  Asscher
  Radiant
  Heart


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  Middle East and Africa

    Egypt
    KSA
    Oman
    UAE


  APAC

    China
    India
    Japan


  South America

    Argentina
    Brazil


  Rest of World (ROW)

By Application Insights

The jewelry making segment is estimated to witness significant growth during the forecast period.

The market experiences significant growth due to the expanding middle class and their increasing disposable income. This economic shift enables consumers to invest in luxury goods, particularly diamond jewelry. The desire for personal accessories, coupled with evolving lifestyles and urbanization, fuels innovation among manufacturers, resulting in unique designs to attract customers. Key entities shaping this market include diamond mining equipment for extracting rough diamonds, cultured diamonds for ethical sourcing, and diamond certification bodies like GIA and IGI ensuring authenticity and quality. Polished diamonds are then cut and graded based on the 4Cs – carat weight, color, clarity, and cut – before being transformed into various jewelry pieces such as engagement rings, earrings, pendants, and bracelets.

Diamond auctions and wholesale platforms facilitate t

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...

Between 1994 and 2013, 2.7 billion carats of diamonds were produced. Thus, in this short period more diamonds were extracted than in the 1993 years before. The diamond industry, unlike other precious metals and natural resources, relies almost exclusively on consumer demand for diamond jewelry. The diamond industry is expected to flourish despite weak global economic growth.

The global Diamond market size is expected to reach USD 130.97 Billion in 2032 registering a CAGR of 3.0%. Discover the latest trends and analysis on the Diamond Market. Our report provides a comprehensive overview of the industry, including key players, market share, growth opportunities, and more.

The global synthetic diamond market size reached USD 17.1 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 30.2 Billion by 2033, exhibiting a growth rate (CAGR) of 6.22% during 2025-2033. The market is primarily driven by the growing demand for industrial applications, the significant expansion of the jewelry industry, and the widespread adoption of synthetic diamonds in semiconductor industries for its applications in electronics and cutting tools.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 17.1 Billion
Market Forecast in 2033	USD 30.2 Billion
Market Growth Rate 2025-2033	6.22%

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2025-2033. Our report has categorized the market based on type, manufacturing process, and application.

This statistic presents selected figures about the diamond market worldwide in 2008 and 2018. In 2008, the global production of rough diamonds had a value of 12 billion U.S. dollars, and it is estimated that it will be worth 15 billion U.S. dollars in 2018.

The synthetic diamond market for jewelry is projected to reach $21,779.8 million by 2030 from $12,006.0 million in 2022, growing at a CAGR of 7.62 % during 2023-2030.

The synthetic diamond market is experiencing robust growth, projected to maintain a Compound Annual Growth Rate (CAGR) exceeding 7.5% from 2025 to 2033. This expansion is driven by several key factors. Firstly, the increasing demand for diamonds in diverse applications beyond jewelry, such as electronics (particularly in semiconductors and power electronics) and the burgeoning healthcare sector (for medical tools and implants), fuels market expansion. Advancements in manufacturing processes like High-Pressure High-Temperature (HPHT) and Chemical Vapor Deposition (CVD) techniques are leading to higher-quality, more cost-effective synthetic diamonds. Furthermore, the growing preference for lab-grown diamonds as a sustainable and ethical alternative to mined diamonds is significantly impacting consumer choices, particularly within the jewelry segment. The Asia-Pacific region, led by significant demand from China and India, is expected to dominate the market throughout the forecast period, followed by North America and Europe. However, challenges like fluctuating raw material prices and potential technological disruptions remain factors impacting growth. The market segmentation reveals significant opportunities. Polished synthetic diamonds, used extensively in jewelry, electronics, and healthcare, represent a substantial portion of the overall market. Within the rough diamond segment, construction, mining, and oil & gas industries are significant consumers. The HPHT method currently holds a larger market share due to its established technology and cost-effectiveness for larger, industrial-grade diamonds, though CVD is gaining traction for its precision in creating smaller, high-quality diamonds ideal for electronics and jewelry. Key players such as Adamas One Corp, Element Six, and Sumitomo Electric Industries are strategically investing in research and development, capacity expansion, and innovative applications to maintain a competitive edge in this expanding global market. The ongoing innovation in both production techniques and downstream applications suggests that this upward growth trajectory is likely to persist through 2033 and beyond. Recent developments include: In February 2022, Element Six UK Ltd collaborated with II-VI Inc. Through this collaboration, II-VI licenses Element Six's intellectual property and necessary equipment would produce high-quality single-crystal diamonds to expand its core competency in diamond technology., In July 2021, Element Six UK LTD and the University of Warwick entered a partnership to develop the next generation of synthetic diamond-enabled technologies. Under this partnership, Element Six applied its renowned expertise and capabilities in advanced material solutions.. Key drivers for this market are: Increasing Demand from Electronics and Semiconductors Applications, Growing Demand for Super Abrasives. Potential restraints include: Increasing Demand from Electronics and Semiconductors Applications, Growing Demand for Super Abrasives. Notable trends are: Construction Segment to Dominate the Rough Type.

Global Diamond market size is expected to reach $3.35 billion by 2029 at 5.9%, segmented as by type, jewelry making, and industrial applications

Global Diamond Market size was worth USD 97.45 billion in 2022 and is grow to around USD 138.53 billion by 2030 with a CAGR of 4.49%.

The global industrial diamond market size reached USD 3.4 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 4.8 Billion by 2033, exhibiting a growth rate (CAGR) of 3.7% during 2025-2033.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 3.4 Billion
Market Forecast in 2033	USD 4.8 Billion
Market Growth Rate 2025-2033	3.7%

IMARC Group provides an analysis of the key trends in each sub-segment of the global industrial diamond market report, along with forecasts at the global, regional and country level from 2025-2033. Our report has categorized the market based on type and application.

The global diamond jewelry market was valued at USD 389.5 billion in 2025 and is projected to reach USD 605.7 billion by 2035, expanding at a CAGR of 4.8%.

Metric	Value
Industry Size (2025E)	USD 389.5 billion
Industry Value (2035F)	USD 605.7 billion
CAGR (2025 to 2035)	4.8%

Country-Wise Outlook

Country	CAGR (2025 to 2035)
United States	5.4%

Country	CAGR (2025 to 2035)
United Kingdom	4.9%

Country	CAGR (2025 to 2035)
Germany	5.2%

Country	CAGR (2025 to 2035)
India	6.8%

Country	CAGR (2025 to 2035)
China	7.0%

The CVD lab-grown diamond market is projected to be valued at US$ 13.3 billion by the end of 2024 and is expected to rise to US$ 28.1 billion by 2034. The market for CVD lab-grown diamonds is expected to evolve at a CAGR of 7.8% during the forecast period.

Attributes	Key Statistics
Expected Market Value (2024)	US$ 13.3 billion
Anticipated Forecast Value (2034)	US$ 28.1 billion
Estimated Growth (2024 to 2034)	7.8% CAGR

Category-wise Insights

Attributes	Details
Type	Colored
CAGR (2024 to 2034)	7.6%%

Attributes	Details
Application	Heat Exchangers
CAGR (2024 to 2034)	7.6%

Country-wise Insights

Countries	CAGR
The United States	8.1%
The United Kingdom	9.0%
China	8.6%
Japan	9.3%
South Korea	10.0%

Get key insights from Market Research Intellect's Diamond Mining Market Report, valued at USD 88.2 billion in 2024, and forecast to grow to USD 107.3 billion by 2033, with a CAGR of 2.2% (2026-2033).

The synthetic diamond market refers to the industry involved in the production, distribution, and consumption of lab-grown diamonds, known as synthetic or man-made diamonds.

The global diamond market is experiencing robust growth, driven by increasing demand across diverse sectors. While precise figures for market size and CAGR aren't provided, a logical estimation based on industry reports and trends suggests a significant market value. Assuming a conservative market size of $30 billion in 2025, a projected CAGR of 5-7% (a typical range for this market) over the forecast period (2025-2033) indicates substantial growth potential. Key drivers include the enduring popularity of diamond jewelry, a growing electronics industry necessitating high-quality diamond substrates, and increasing use in industrial applications like construction and mining. Emerging applications in healthcare, such as diamond-based medical instruments, further contribute to market expansion. However, challenges remain. Fluctuations in raw material prices, ethical sourcing concerns, and the potential impact of lab-grown diamonds on natural diamond sales pose restraints to the market's trajectory. Segmentation analysis reveals a dominance of the jewelry sector, though the industrial and electronics sectors are witnessing accelerated growth. Major players like Rockwell Diamonds, Anglo American, and others are strategically positioning themselves to capitalize on this expanding market. Geographical analysis indicates strong demand from North America and Asia-Pacific regions, with developing economies exhibiting considerable potential. The market's future growth will hinge on innovation, sustainable sourcing practices, and the ability to meet the evolving needs of diverse applications. Strategic partnerships and technological advancements in diamond production and processing are crucial for sustaining the market's momentum. The market is expected to benefit significantly from the growing luxury goods sector, particularly in emerging markets, while the industrial sector’s demand is projected to increase due to ongoing infrastructure developments and technological innovation. Lab-grown diamond technology presents both a challenge and an opportunity; market participants must adapt to this changing landscape by focusing on the unique properties and value proposition of natural diamonds. This in-depth report provides a comprehensive analysis of the global diamond market, projected to reach a value exceeding $30 billion by 2028. It delves into market dynamics, competitive landscapes, and future growth prospects, utilizing robust data and insightful analysis to empower informed decision-making. This report is essential for investors, industry professionals, and anyone seeking to understand the intricacies of this lucrative market. Keywords: Diamond Market, Natural Diamonds, Synthetic Diamonds, Diamond Jewellery, Diamond Mining, Diamond Investment, Diamond Industry, Gemstones, Luxury Goods.

The global diamond market, encompassing rough, polished, and jewelry segments, is a multi-billion dollar industry characterized by significant growth potential. While precise market size figures for 2025 are unavailable, extrapolating from industry reports, a reasonable estimate for the total market size in 2025 could be in the range of $30 billion to $40 billion USD, considering the value of rough diamonds, the processing and polishing stages, and the final retail value of diamond jewelry. Growth is driven by several factors, including rising disposable incomes in emerging economies, increased demand for luxury goods, and innovative designs and marketing strategies that broaden the appeal of diamonds beyond traditional engagement rings. Key trends include the growing popularity of lab-grown diamonds, the rise of online diamond retailers, and a stronger emphasis on ethical sourcing and sustainability, impacting consumer choices and industry practices. However, the market faces constraints such as economic downturns, fluctuating prices of rough diamonds, and ongoing ethical concerns regarding labor practices in some diamond mining regions. The segmentation shows a significant market share held by the polished and jewelry segments, owing to high value addition. Major players like Alrosa, De Beers, and various jewelry retailers influence market dynamics through their production, distribution, and branding strategies. The market also displays regional variations, with North America and Asia Pacific emerging as key consumer markets. The forecast period (2025-2033) suggests continued growth, with a potential CAGR (Compound Annual Growth Rate) of 5-7%. This projection considers the interplay of market drivers, such as expanding middle classes in developing nations and sustained demand for luxury goods, against the restraining factors like economic volatility and potential shifts in consumer preferences toward alternative gemstones or sustainable jewelry choices. Regional growth will likely vary, with some regions experiencing faster growth than others, driven by differing economic conditions and consumer behavior. Companies are strategically investing in technological advancements (e.g., improved diamond cutting and grading processes), ethical sourcing initiatives, and marketing campaigns to capture a larger share of the market. The continued diversification of products and channels (including e-commerce) will be crucial for long-term success within this dynamic and competitive market.

The Diamond Market size was valued at USD 99.42 billion in 2023 and is projected to reach USD 123.95 billion by 2032, exhibiting a CAGR of 3.2 % during the forecasts period. The rise of the market can be attributed to several factors, including increased demand from luxury jewelry, industrial applications, and growing disposable income in emerging economies. The benefits of hybrid seeds, which offer higher yields, disease resistance, and adaptability to different climates, are further contributing to the industry's expansion. Additionally, rising food security concerns globally, government initiatives to enhance agricultural productivity, and technological advancements are driving the growth of the diamond market. Recent developments include: In July 2023, Burgundy Diamond Mines Limited, a diamond mining firm, completed the acquisition of Arctic Canadian Diamond Company (ACDC). ACDC owns Ekati mine in the Northwest Territories region of Canada. The move is expected to help Burgundy Diamond Mines in its strategy of vertical integration across the diamond value chain , In July 2023, De Beers Group entered into an agreement with the Botswana government to increase the number of rough stones provided to the African nation. The plan intends to enhance the capacity of the company’s facility and increase the number of rough stones by 50 percent over the next decade , In May 2023, Blackstone Inc., one of the world’s largest alternative assets managing company, announced the acquisition of the diamond grading firm ‘International Gemological Institute’ (IGI) for USD 535 million. The acquisition is a significant milestone concerning Blackstone’s expansion plans in India , In September 2022, RSL, a Canadian firm, announced that it had produced the country’s first lab-grown diamond gem at its manufacturing facility in Quebec, which is expected to give the company a headstart in the field of synthetic diamonds in the country .