Diamonds and Diamond Jewelry Market Report 2024 (Global Edition)

Global Diamonds and Diamond Jewelry Market Report 2024 Market Size Split by Product Type (Neckwear/Necklace Diamond Jewelry , Earrings Diamond Jewelry , Rings Diamond Jewelry , Bangles/Bracelets Di...

Diamonds and Diamond Jewelry Market Report Description

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Competitive Landscape of the Diamonds and Diamond Jewelry Market

There is constant updating and change in the diamonds and diamond jewelry sector. Players often introduce new tactics more regularly in an effort to stay competitive. To make it easier for customers to buy diamond jewelry, industry participants are concentrating on raising their R&D expenditures. Moreover, in order to boost product sales, large firms are focusing on new markets and demographics. They may do this by working with regional brands and merchants around the world, or by entering the new market entirely.

Diamonds and Diamond Jewelry Industry News 

May 2022: The De Beers organization unveiled the first diamond source platform in the world with blockchain support on a large scale. The diamond production of De Beers Group has made extensive use of the TracrTM blockchain platform. With its tamper-proof source guarantee, TracrTM is the only distributed diamond blockchain in the world.

(Source: https://www.debeersgroup.com/media/company-news/2022/de-beers-group-introduces-worlds-first-blockchain-backed-diamond-source-platform-at-scale)

October 2021: Tiffany & Co. announced the opening of its online store, tiffany.co.in, in India through a joint venture with Reliance Group. Leading diamond and handmade jewelry brands have their distinctive collections available on the web marketplace. Additionally, the website allows customers to schedule in-store private appointments and diamond consultations with in-house professionals. Personal shopper services are also available.

(Source: https://www.livemint.com/companies/news/jewellery-brand-tiffany-co-launches-e-commerce-platform-in-india/amp-11634627888499.html)

Top Companies Market Share in Diamonds and Diamond Jewelry Industry: (In no particular order of Rank)

• Cartier
• Tiffany & Co.
• Bulgari S.p.A.
• Chow Tai Fook Jewellery Group Limited
• Signet Jewelers
• Petra Diamonds Limited
• Pandora Jewelry LLC
• De Beers plc
• Swarovski AG
• Trans Hex Group
• Confidential Data
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of Diamonds and Diamond Jewelry

Which Region Dominates the Market in 2024?

According to Cognitive Market Research, North America dominated the diamonds and diamond jewelry market in 2024 and accounted for around 40% of the global revenue because of the robust consumer demand and high purchasing power. With a sizable wealthy population and a society that prizes status and luxury, North America is predicted to maintain its leadership in the diamond jewelry industry. Furthermore, the area has a competitive advantage in terms of supply and distribution because it is home to a number of well-known diamond mining firms. Overall, North America is positioned to maintain its dominant position in the diamonds and diamond jewelry market due to a combination of its strong economy, consumer preferences, and industry infrastructure.

Which Region is Expanding at the Fastest CAGR?

The Asia Pacific is anticipated to be the fastest-growing region in the diamonds and diamond jewelry market in the forecast period. Rising disposable incomes, shifting consumer tastes, and an expanding middle class are some of the reasons contributing to this increase. The diamonds and diamond jewelry market's growth is also being aided by the rising number of premium companies making their debut as well as the expanding trend of giving diamond jewelry as gifts for special occasions. Further boosting the expansion of the local industry is the increased accessibility of diamonds and diamond jewelry due to the rising popularity of online shopping platforms.

The current report Scope analyzes Diamonds and Diamond Jewelry Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Diamonds and Diamond Jewelry Market

According to Cognitive Market Research, the global diamonds and diamond jewelry market size was estimated at USD 179841.2 Million out of which 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. Due to the region's stable economy and high discretionary incomes, there is still a considerable consumer demand for luxury items, such as diamond jewelry. Furthermore, changing consumer tastes for sustainable and ethically produced diamonds have changed the dynamics of the industry and raised demand for sustainably mined and lab-grown stones. In addition, creative marketing approaches and celebrity-jewelry brand partnerships have boosted sales in the North American diamonds and diamond jewelry market. It is anticipated that the industry would keep rising because to changing customer preferences, advancements in technology, and the increasing appeal of diamonds as investment pieces and fashion accessories.

• According to Cognitive Market Research, the US had a major share in the diamonds and diamond jewelry market with a market size of USD 56757.88 million in 2024 and is projected to grow at a CAGR of 3.6% during the forecast period fueled by a high degree of discretionary income and a robust gift-giving culture. In particular, engagement rings account for a considerable portion of the industry. 
• The Canada diamonds and diamond jewelry market had a market share of USD 8632.38 million in 2024 and is projected to grow at a CAGR of 4.6% during the forecast period. The industry for diamond jewelry is well-established in Canada, with an emphasis on fine diamonds and engagement rings. 

• The Mexico diamonds and diamond jewelry market is projected to witness growth at a CAGR of 4.3% during the forecast period with a market size of USD 6546.22 million in 2024.

Europe Diamonds and Diamond Jewelry Market

According to Cognitive Market Research, with a market value of USD 179841.2 million in 2024 and projected to expand at a compound annual growth rate (CAGR) of 4.1% from 2024 to 2031. Europe accounted for a share of over 30% of the global market size of USD 53952.36 million influenced by things like rising disposable income, shifting consumer tastes, and an increase in the market for luxury items. Diamonds remain a valuable investment, prestige, and love symbol for European consumers despite economic worries. Additionally, diamond jewelry is now more widely available and appeals to a wider range of consumers because to advancements in marketing tactics like internet retailing and experiential buying. Furthermore, in order to satisfy ecologically sensitive customers, lab-grown and ethically sourced diamonds have become more and more popular due to sustainability concerns. The European diamond and diamond jewelry market is expected to continue growing in the near future due to continuous technological breakthroughs and changing fashions.

• The United Kingdom diamonds and diamond jewelry market had a market share of USD 9064.00 million in 2024 and is projected to grow at a CAGR of 4.9% during the forecast period due to rising spending in infrastructure development and the country's expanding urbanization. 
• The France diamonds and diamond jewelry market is projected to witness growth at a CAGR of 3.3% during the forecast period with a market size of USD 4963.62 million in 2024.
• According to Cognitive Market Research, the Germany diamonds and diamond jewelry market size was valued at USD 10682.57 million in 2024 and is projected to grow at a CAGR of 4.3% during the forecast period. Diamond jewelry designs that are classic and timeless are highly valued in the market, with an emphasis on artisanal craftsmanship, precious metals, and diamonds.
• The Italy diamonds and diamond jewelry market is projected to witness growth at a CAGR of 3.5% during the forecast period with a market size of USD 4639.90 million in 2024.
• The Russia diamonds and diamond jewelry market is projected to witness growth at a CAGR of 3.1% during the forecast period with a market size of USD 8362.62 million in 2024.
• The Spain diamonds and diamond jewelry market is projected to witness growth at a CAGR of 3.2% during the forecast period with a market size of USD 4424.09 million in 2024.
• The Luxembourg diamonds and diamond jewelry market is projected to witness growth at a CAGR of 4.2% during the forecast period with a market size of USD 1672.52 million in 2024.
• The Portugal diamonds and diamond jewelry market is projected to witness growth at a CAGR of 3.9% during the forecast period with a market size of USD 1133.00 million in 2024.
• The Greece diamonds and diamond jewelry market is projected to witness growth at a CAGR of 4.4% during the forecast period with a market size of USD 647.43 million in 2024.
• Rest of Europe diamonds and diamond jewelry market is projected to witness growth at a CAGR of 2.8% during the forecast period with a market size of USD 8362.62 million in 2024.

Asia Pacific Diamonds and Diamond Jewelry Market

According to Cognitive Market Research, the global Diamonds and diamond jewelry market size was estimated at USD 179841.2 Million out of which 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. The region's expanding middle class and increasing income, especially in China and India, are important factors. Customers are becoming more and more prepared to invest in luxury goods like diamond jewelry and diamonds as status symbols and long-term assets as disposable incomes rise. Demand in the area has also been boosted by shifting societal views on self-indulgence and gifting. Additionally, the growth of the diamonds and diamond jewelry market has been aided by the expansion of online retail channels, which have made it simpler for customers to obtain a variety of diamond products. In addition, demand is still being driven by the widespread appeal of diamond wedding bands and engagement rings, particularly in rising Asia Pacific countries.

• According to Cognitive Market Research, the China diamonds and diamond jewelry market size was valued at USD 18613.56 million in 2024 and is projected to grow at a CAGR of 7.1% during the forecast period fueled by a penchant for premium brands and a burgeoning middle class. Chinese shoppers have a penchant for diamond engagement rings and jewelry adorned with diamonds. 

• The Japan diamonds and diamond jewelry market is projected to witness growth at a CAGR of 6.1% during the forecast period with a market size of USD 5708.16 million in 2024.

• The India diamonds and diamond jewelry market had a market share of USD 4963.62 million in 2024 and is projected to grow at a CAGR of 9.4% during the forecast period. India has a long history of creating jewelry out of diamonds and other gemstones that combines classic and contemporary styles. Indian weddings and other important occasions feature diamond jewelry, particularly diamond necklaces and earrings.

• The South Korea diamonds and diamond jewelry market is projected to witness growth at a CAGR of 6.7% during the forecast period with a market size of USD 4136.35 million in 2024.
• The Australia diamonds and diamond jewelry market is projected to witness growth at a CAGR of 7.3% during the forecast period with a market size of USD 2150.90 million in 2024.
• The South East Asia diamonds and diamond jewelry market is projected to witness growth at a CAGR of 8.6% during the forecast period with a market size of USD 2854.08 million in 2024.
• The Rest of Asia Pacific diamonds and diamond jewelry market is projected to witness growth at a CAGR of 7.4% during the forecast period with a market size of USD 2936.81 million in 2024.

South America Diamonds and Diamond Jewelry Market

According to Cognitive Market Research, the global Diamonds and diamond jewelry market size was estimated at USD 179841.2 Million out of which 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. The demand for luxury products, such as diamond jewelry, has increased due to rising levels of disposable income among the people in the region. Further driving market expansion has been shifting consumer preferences and an increasing appreciation for superior, aesthetically beautiful products. Furthermore, customers in Latin America can now buy diamond jewelry from foreign companies more easily thanks to globalization and the availability of internet platforms, which is fueling the diamonds and diamond jewelry market's expansion. The area's rich cultural legacy and custom of wearing jewelry to mark special occasions have also helped to maintain a strong demand for diamonds.

• According to Cognitive Market Research, the Brazil diamonds and diamond jewelry market size was valued at USD 3848.60 million in 2024 and is projected to grow at a CAGR of 5.6% during the forecast period. With an emphasis on colorful gemstones and diamonds, especially emeralds and colored diamonds, Brazil is a sizable market for diamond jewelry. Brazil frequently incorporates diamond jewelry into its festivities and celebrations. 
• The Argentina diamonds and diamond jewelry market had a market share of USD 1510.67 million in 2024 and is projected to grow at a CAGR of 5.9% during the forecast period as a result of growing national urbanization and infrastructure development expenditures.
• The Colombia diamonds and diamond jewelry market is projected to witness growth at a CAGR of 4.8% during the forecast period with a market size of USD 800.29 million in 2024.
• The Peru diamonds and diamond jewelry market is projected to witness growth at a CAGR of 5.2% during the forecast period with a market size of USD 737.35 million in 2024.
• The Chile diamonds and diamond jewelry market is projected to witness growth at a CAGR of 5.3% during the forecast period with a market size of USD 647.43 million in 2024.
• The Rest of Latin America diamonds and diamond jewelry market is projected to witness growth at a CAGR of 4.1% during the forecast period with a market size of USD 1447.72 million in 2024.

Middle East and Africa Diamonds and Diamond Jewelry Market

According to Cognitive Market Research, the global Diamonds and diamond jewelry market size was estimated at USD 179841.2 Million out of which 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 demand for diamonds and diamond jewelry has increased in these areas due to factors like growing middle classes, rising disposable incomes, and growing customer desire for luxury goods. Furthermore, the proliferation of retail outlets, such as upscale stores and internet portals, has enabled market expansion by improving customers' access to a greater assortment of products. The growth of the business has also been aided by cultural customs and social conventions in certain of the region's nations where giving diamond jewelry as a gift for holidays and other occasions is customary. However, the Middle East and Africa market for diamonds and diamond jewelry is expected to continue growing in the near future due to changing consumer preferences and rising marketing and promotional spending by major companies.

• According to Cognitive Market Research, the GCC Countries diamonds and diamond jewelry market size was valued at USD 1539.44 million in 2024 and is projected to grow at a CAGR of 6.1% during the forecast period renowned for having a great demand, especially among the wealthy, for expensive diamond jewelry. Customers prefer ornate and lavish diamond jewelry pieces, which frequently include enormous, priceless jewels. 
• The Egypt diamonds and diamond jewelry market is projected to witness growth at a CAGR of 5.6% during the forecast period with a market size of USD 377.67 million in 2024.
• The South Africa diamonds and diamond jewelry market is projected to witness growth at a CAGR of 5.6% during the forecast period with a market size of USD 568.30 million in 2024. Diamonds are well-known to be produced in South Africa. The abundance of diamonds on the world market is a result of the continent's abundant resources.
• The Turkey diamonds and diamond jewelry market is projected to witness growth at a CAGR of 4.8% during the forecast period with a market size of USD 309.33 million in 2024.
• The Nigeria diamonds and diamond jewelry market is projected to witness growth at a CAGR of 4.4% during the forecast period with a market size of USD 377.67 million in 2024.
• The Rest of MEA diamonds and diamond jewelry market is projected to witness growth at a CAGR of 4.3% during the forecast period with a market size of USD 424.43 million in 2024.

Diamonds and Diamond Jewelry Market Analysis

Diamonds and Diamond Jewelry Product Type Segment Analysis

According to Cognitive Market Research, rings diamond jewelry category held the major market share over the forecast period. Due to their importance in engagements, marriages, and other special occasions, diamond rings in particular continue to be highly popular. In response to the changing needs of consumers and maintaining the diamonds and diamond jewelry industry's growth, companies and retailers are probably going to prioritize sustainability, customisation, and digital integration as the market develops.

Pendants diamond jewelry is the fastest-growing category over the forecast period because of its consumer appeal and adaptability. Due to their diverse range of patterns and styles, pendants can be worn with a variety of ensembles and events. Furthermore, pendants' popularity in the diamonds and diamond jewelry market is fueled by the perception that they are a classy, classic item of jewelry that may be passed down through the generations.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Diamonds and Diamond Jewelry Industry. Request a Free Sample PDF!

Diamonds and Diamond Jewelry Product Category Segment Analysis

According to Cognitive Market Research, party & festive wear category held a prominent market share ascribed to a number of elements, including rising disposable income, shifting vogue, and cultural influences that place a premium on festivities and special occasions. The appeal of diamonds and diamond jewelry for celebrations and gatherings has also been aided by developments in design and marketing techniques. 

Daily wear is the fastest-growing category over the forecast period influenced by elements like shifting customer tastes, rising costs, and the emergence of more relaxed and adaptable fashions. The need for jewelry that can be worn every day rather than only on special occasions is driving this trend, which is a move toward more useful and functional jewelry options.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Diamonds and Diamond Jewelry Distribution channel Segment Analysis

According to Cognitive Market Research, offline category held a prominent market share as a result of the products' extensive availability in physical stores and the ease with which they may be tried before being bought. Offline channels also offer instant product satisfaction and a more customized purchase experience. 

Online is the fastest-growing category over the forecast period. The availability of premium diamonds and diamond jewelry is expanding across e-commerce platforms, online shopping is becoming more popular in the pandemic era, several leading diamond jewelry brands have recently launched new e-commerce websites, and the trend of online shopping for diamond jewelry is growing due to the wide range of products available and the exciting deals and discounts that come with it compared to physical stores. 

• Online 
• Offline

Diamonds and Diamond Jewelry End Use Segment Analysis

According to Cognitive Market Research, women diamonds and diamond jewelry category held a prominent market share driven by a number of variables, including women's growing disposable money, shifting fashion trends, and shifting tastes in upscale products. This industry has also expanded as a result of marketing campaigns aimed at women, improvements in design methods, and the growing desire for diamonds and diamond jewelry that are obtained responsibly. 

Men diamonds and diamond jewelry is the fastest-growing category over the forecast period. An increasing number of males are adopting diamond jewelry as a status, style, and personal expression symbol in response to shifting consumer preferences and fashion trends. A change in societal perceptions of males wearing jewelry, more marketing aimed at male consumers, and the advent of more masculine designs are some of the causes driving the diamonds and diamond jewelry market.

• Men Diamonds and Diamond Jewelry 
• Women Diamonds and Diamond Jewelry 
• Kids Diamonds and Diamond Jewelry

Diamonds and Diamond Jewelry Clarity Grade Segment Analysis

According to Cognitive Market Research, very slightly included (VS1 and VS2) category held a prominent market share. When magnified 10 times, the diamonds are clearly visible. The inclusion can be easily spotted under magnification because of its massive flaws, which make it difficult to miss. These diamonds are the most widely used option for engagement rings and are said to have the most appeal among the various diamond clarities. 

Slightly included (SI1 and SI2) is the fastest-growing category over the forecast period. It is the most valuable diamond in terms of both popularity and resale value, ranking in the top 10% of all diamonds worldwide for engagement rings. Moreover, the 1st Degree inclusions can be seen with the naked eye and are easily detected at 10x magnification.

• Flawless (FL) 
• Internally Flawless (IF) 
• Very-Very Slightly Included (VVS1 and VVS2) 
• Very Slightly Included (VS1 and VS2) 
• Slightly Included (SI1 and SI2) 
• Included (I1 and I2 and I3)

Author's Detail

Sneha Mali

Research Analyst at Cognitive Market Research

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I am a research analyst working in various domains including the Consumer Goods domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.

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