In financial year 2025, the value of diamond production in India was estimated to be over *** million Indian rupees. This was a significant increase from the previous year, when the value amounted to nearly ** million Indian rupees.

Get the latest insights on price movement and trend analysis of Diamond in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

The Indian diamond market dropped slightly to $X in 2022, approximately equating the previous year. Overall, consumption, however, recorded a drastic downturn. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

India's demand for polished diamonds amounted to a value of some ************* U.S. dollars in 2022. That was a notable increase compared to 2017, when polished diamond demand amounted to roughly *********** U.S. dollars.

India is by far the world's largest diamond cutting and polishing country.

The export value of cut and polished diamonds by India was over ** billion U.S. dollars in the fiscal year 2025. The export value of cut and polished diamonds continues to fluctuate in the larger picture, but the financial year 2025 is the lowest value since 2009.

In 2017, approx. X units of drilling tools with working part of diamond were imported into India; picking up by X% against the previous year. In general, the total imports indicated a prominent expansion from 2007 to 2017: its volume increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period.

Access updated Rough Diamond import data India with HS Code, price, importers list, Indian ports, exporting countries, and verified Rough Diamond buyers in India.

In 2020, overseas shipments of non-industrial diamonds decreased by -X% to X tons, falling for the third consecutive year after two years of growth. In general, exports showed a perceptible setback. The pace of growth was the most pronounced in 2016 when exports increased by X% year-to-year. The exports peaked at X tons in 2017; however, from 2018 to 2020, the exports stood at a somewhat lower figure.

In 1960, the average price for such a diamond stood at some ***** U.S. dollars. Since then, the diamond price has increased more than tenfold, to ****** U.S. dollars in 2015. Diamond prices: carats to dollars Diamonds are a carbon-based gemstone coveted by innumerable people worldwide. They are among the hardest materials on Earth (if not the hardest), which makes them very valuable for industrial uses in addition to their wide use in luxury jewelry. Diamonds are also expensive. The cut, clarity, color, and carat (weight and size) are the so-called four 'Cs' that dictate a diamond's price. One carat is equal to a weight of approximately *** milligrams, and cost approximately ****** U.S. dollars in 2015. Diamond prices per carat show a consistent increasing trend, while the annual rough diamond production worldwide has sat between *** million carats and *** million carats between 2009 and 2019. Impact of the diamond demand-supply gap on prices As the known global diamond reserves continue to be mined and depleted while the global demand for diamonds increases, a diamond demand-supply gap is expected to develop in the coming years. By 2050, there is a forecasted supply shortfall of some *** million carats of diamonds worldwide. This will likely cause the price per carat to continue increasing for natural diamonds. The production of synthetic diamonds, also referred to as lab grown diamonds, is a potential solution to the projected diamond shortfall. There was a steady production of between **** and **** billion carats of synthetic diamonds worldwide between 2007 and 2016. Synthetic diamonds also cost between ** and ** percent less than a natural diamond does, but not every consumer is willing to forgo natural diamonds in favor of a diamond that has been created in a lab.

India: Diamond production, USD per carat: The latest value from 2024 is 0 USD per carat, unchanged from 0 USD per carat in 2023. In comparison, the world average is 43.67 USD per carat, based on data from 59 countries. Historically, the average for India from 2004 to 2024 is 126.53 USD per carat. The minimum value, 0 USD per carat, was reached in 2007 while the maximum of 223.93 USD per carat was recorded in 2016.

U.S. diamond prices continue to rise due to the demand remains solid while product supply is limited. Jewelry sales in the U.S. keep robust, but global diamond mining and cutting remain low compared to pre-pandemic levels, primarily due to the problematic epidemiological situation in India. The return of work at Indian processing plants should help increase supply in the global diamond market and limit the rise in product prices. The recovery in American tourism activity could lead to a decline in demand for jewelry and constrain the price growth.

253124 Global import shipment records of Rough Diamonds with prices, volume & current Buyer's suppliers relationships based on actual Global export trade database.

Access updated Diamonds import data India with HS Code, price, importers list, Indian ports, exporting countries, and verified Diamonds buyers in India.

Get detailed and the latest Rough Diamonds import data of HS code 7102 India with customs shipment details as price, date, Indian import port, importers and buyers in India.

The India Lab Grown Diamond Jewelry Market is estimated to be valued at USD 395.2 million in 2025 and is projected to reach USD 1571.4 million by 2035, registering a compound annual growth rate (CAGR) of 14.8% over the forecast period.

Explore Indian Diamonds export data with HS codes, pricing, ports, and a verified list of Diamonds exporters and suppliers from India with complete shipment insights.

Diamond imports peaked at 6.2K tons in 2022 but failed to regain momentum from 2023 to 2024. In value terms, diamond imports fell to $13.5B in 2024.

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Diamond Jewelry Market Size 2025-2029

The diamond jewelry market size is valued to increase USD 18.77 billion, at a CAGR of 3.2% from 2024 to 2029. Innovation in terms of design and manufacturing technology will drive the diamond jewelry market.

Major Market Trends & Insights

North America dominated the market and accounted for a 44% growth during the forecast period.
By Product Type - Rings segment was valued at USD 50.40 billion in 2023
By Distribution Channel - Specialty stores segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 28.47 billion
Market Future Opportunities: USD 18773.30 billion
CAGR : 3.2%

Market Summary

The market represents a dynamic and continually evolving industry, driven by advances in core technologies and applications, service types, and product categories. Technological innovations in design and manufacturing processes, such as the use of computer-aided design (CAD) and 3D printing, are revolutionizing the industry. Additionally, the increasing adoption of omnichannel strategies by retailers is expanding market reach and enhancing customer experience. However, the market faces challenges, including the presence of counterfeit products in the e-retailing space, which undermines consumer trust and brand reputation.
The market size was valued at over 80 billion US dollars in 2020, and it is expected to grow further as consumers continue to seek unique, high-quality pieces. These trends and dynamics highlight the ongoing evolution of the market and the opportunities and challenges that lie ahead.

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

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How is the Diamond Jewelry Market Segmented and what are the key trends of market segmentation?

The diamond jewelry industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Product Type

  Rings
  Necklaces
  Earrings
  Bangles
  Pendants


Distribution Channel

  Specialty stores
  Department stores
  Discounters
  Online retailers
  Others


Type

  Natural
  Lab-grown


End-User

  Women
  Men
  Unisex


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 Product Type Insights

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

In the dynamic and evolving the market, rings continue to dominate with a significant market share in 2024. Major players, such as Harry Winston, Tanishq, and Malabar Gold and Diamonds, cater to diverse customer needs with extensive offerings. For instance, Tanishq provides over three thousand designs for diamond rings, ensuring a wide range of choices for consumers. The luxury segment is experiencing growth as companies target high-end customers with premium products. The increasing affluence of the middle class, particularly during weddings and celebrations, fuels the demand for these luxury offerings. Companies are responding by introducing advanced technologies and techniques to enhance their product offerings.

For example, jewelry design software and 3D printing technology enable the creation of intricate designs, while laser inscription technology allows for personalized engravings. In the realm of diamond quality assessment, color grading systems, clarity characteristics assessment, and inclusion mapping technology play crucial roles. These technologies help ensure the authenticity and value of diamonds, contributing to the overall growth of the market. Furthermore, ethical sourcing practices and conflict-free diamonds are becoming increasingly important to consumers, driving the adoption of certification standards such as GIA and AGS. The market for diamond jewelry is also witnessing advancements in setting methods, with tension setting and prongs setting styles gaining popularity.

Precious metal alloys, such as gold karat purity, are used to enhance the durability and appearance of jewelry pieces. Additionally, techniques like electroplating and metal finishing processes contribute to the overall aesthetic appeal of the products. Looking ahead, the industry anticipates continued growth, with an estimated 25% of the market share attributed to online sales in 2025. Furthermore, the integration of technology in jewelry manufacturing, such as wax casting techniques and CAD jewelry modeling, is expected to streamline production processes and reduce costs. In conclusion, the market is a thriving indus

The CVD lab-grown rough diamond market is experiencing robust growth, driven by increasing consumer demand for ethically sourced and sustainable alternatives to mined diamonds. The market, estimated at $1.5 billion in 2025, is projected to exhibit a Compound Annual Growth Rate (CAGR) of 15% from 2025 to 2033. This significant expansion is fueled by several key factors. Firstly, advancements in CVD (Chemical Vapor Deposition) technology have significantly reduced production costs and improved the quality of lab-grown diamonds, making them a more competitive option. Secondly, growing environmental concerns surrounding traditional diamond mining are pushing consumers towards more eco-friendly alternatives. Thirdly, the increasing popularity of lab-grown diamonds in jewelry and industrial applications is widening the market's addressable audience. Major players, including Element Six (De Beers), Adamas One, and others, are investing heavily in research and development, further accelerating market growth. The gemstone application segment currently dominates, but industrial applications are expected to witness significant growth due to the superior properties of lab-grown diamonds in various high-tech sectors. Geographical segmentation shows a strong presence across North America, Europe, and Asia Pacific, with China and India emerging as key markets. However, challenges remain, including consumer perception and potential price fluctuations in the raw material market, which could act as restraints on market expansion. The competitive landscape is characterized by a mix of established players and emerging companies. Established players leverage their extensive experience and distribution networks to maintain market share, while emerging players are focusing on innovation and cost-effectiveness to gain traction. Strategic partnerships, mergers, and acquisitions are expected to shape the market dynamics in the coming years. The forecast period of 2025-2033 promises continued expansion, driven by technological advancements, shifting consumer preferences, and the growing acceptance of lab-grown diamonds as a viable alternative to mined diamonds. This growth is likely to be particularly pronounced in emerging markets with growing disposable incomes and a rising appreciation for luxury goods. The market’s trajectory suggests a promising future for CVD lab-grown rough diamonds, with continued innovation and strategic market positioning driving further expansion.

Cushion Cut Diamond Market Outlook

According to our latest research, the Global Cushion Cut Diamond market size was valued at $5.2 billion in 2024 and is projected to reach $8.7 billion by 2033, expanding at a CAGR of 6.1% during 2024–2033. The primary factor fueling this robust growth is the increasing consumer preference for vintage-inspired jewelry designs, with cushion cut diamonds regaining popularity due to their classic yet contemporary appeal. This trend is further amplified by the rising influence of social media and celebrity endorsements, which have brought cushion cut diamonds into the limelight for engagement rings and high-end jewelry pieces. The market’s expansion is also bolstered by advancements in diamond cutting technology and the growing acceptance of lab-grown diamonds, which offer a more sustainable and affordable alternative to natural stones while retaining the allure and brilliance that cushion cuts are known for.

Regional Outlook

North America currently holds the largest share in the Cushion Cut Diamond market, accounting for over 35% of the global market value in 2024. This dominance is primarily attributed to the region’s mature jewelry market, high disposable incomes, and a strong culture of diamond gifting, particularly for engagements and weddings. The United States, in particular, leads in both consumption and retail innovation, with a well-established network of luxury jewelry stores and a rapidly expanding online retail presence. Favorable trade policies, robust supply chains, and the presence of major diamond cutting and trading hubs have further solidified North America’s position. Additionally, the region’s consumers are increasingly seeking unique and personalized jewelry pieces, driving demand for cushion cut diamonds, which are renowned for their romantic, vintage-inspired aesthetic.

The Asia Pacific region is projected to be the fastest-growing market for cushion cut diamonds, with a remarkable CAGR of 8.5% from 2024 to 2033. This surge is driven by rising disposable incomes, urbanization, and the growing middle-class population in countries such as China, India, and Japan. The cultural significance of diamond jewelry in weddings and festive occasions, combined with a youthful demographic eager for luxury goods, is propelling market growth. Moreover, increased investment in retail infrastructure and the proliferation of e-commerce platforms are making cushion cut diamonds more accessible to a broader consumer base. Major jewelry brands are also expanding their footprint in the region, introducing innovative designs and marketing campaigns tailored to local tastes, further accelerating adoption.

Emerging economies in Latin America and the Middle East & Africa are witnessing gradual adoption of cushion cut diamonds, although they face unique challenges. In these regions, market growth is often hampered by fluctuating economic conditions, limited access to high-quality diamonds, and a lack of established distribution networks. However, localized demand is on the rise, particularly among affluent urban consumers who are increasingly influenced by global fashion trends and digital marketing. Policy reforms aimed at attracting foreign investment and the gradual modernization of retail channels are expected to improve market penetration. Nevertheless, price sensitivity, import tariffs, and regulatory hurdles continue to pose significant obstacles to widespread adoption in these emerging markets.

Report Scope