Global Diamond Market Outlook 2025-2034: Growth Drivers, Share, And Trends

The Business Research Company

The Business Research Company’s Diamond Global Market Report 2025 – Market Size, Trends, And Forecast 2025-2034

LONDON, GREATER LONDON, UNITED KINGDOM, May 23, 2025 /EINPresswire.com/ -- So, what's behind the incredible growth of the diamond market in recent years?
The robust increase in the diamond market size has stemmed from its rise from $2.52 billion in 2024 to a projected $2.66 billion in 2025, operating at a compound annual growth rate CAGR of 5.6%. This growth in the historic period roots from various factors including the lucrative jewelry industry, its symbolization of luxury and status, a multitude of industrial applications, serving as an investment and store of value, and cultural significance.

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What's the projected growth of the diamond market in the next few years?
The diamond market is all set to witness substantial growth, scaling to $3.35 billion in 2029 with a compound annual growth rate CAGR of 5.9%. The anticipated upsurge during the forecast period implicates ongoing demand for jewelry, rising affluence, burgeoning middle-class, emerging market preferences, strides taken for sustainable and ethical sourcing, along with innovations in marketing and retail.

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Who are the key players driving this growth?
In this thriving industry, leading companies like 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., and Gem Diamonds Limited are setting the pace.

What strategies are driving their success?
These dominant companies are striving to stay ahead by adopting advanced diamond sourcing technologies such as blockchain. This groundbreaking technology in the diamond industry provides a robust and unchangeable avenue to track the provenance of diamonds from their origin to their sale.

So, how is the diamond market segmented?
The diamond market division yields a clearer insight:
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

Which regions are at the forefront of the diamond market?
Africa took the lead as the largest region in the diamond market in 2024, according to the Diamond Global Market report. However, the report includes a vast range of regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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The Business Research Company
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