In 2022, the total value of the diamond jewelry market worldwide amounted to 86.5 billion (nominal) U.S. dollars. That represented an slight decrease of 0.2 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 5.6 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”.
FAQs
In 2022, the total value of the diamond jewelry market worldwide amounted to 86.5 billion (nominal) U.S. dollars. That represented an slight decrease of 0.2 billion U.S. dollars from the previous year, as the global diamond industry recovered from the results of the COVID-19 pandemic.
How big is the diamond market in 2022? ›
The global diamond market was valued at $100.4 billion in 2022, and is projected to reach $155.5 billion by 2032, growing at a CAGR of 4.5% from 2023 to 2032. Diamonds are a type of mineral that is composed of pure carbon. It is also the hardest material that exists on earth.
How much is the global diamond market worth? ›
The global diamond market size was valued at USD 96.4 billion in 2022 and is anticipated to expand at a compound annual growth rate (CAGR) of 3.2% from 2023 to 2030.
How big is the global diamond jewelry market? ›
The global Diamond Jewelry Market size was valued at USD 178.70 billion in 2022 and is projected to reach USD 265.29 billion by 2030, growing at a CAGR of 5.19% from 2023 to 2030.
Are diamond values dropping? ›
The prices of diamonds have collapsed in recent years. Diamonds have lost their twinkle in the eyes of the consumer, and industry professionals are sounding the alarms.
Is diamond market up or down? ›
Are diamond prices rising or falling? Over the past year, natural diamond prices have fallen by 24.13% to an average price of about $4,000 for 1 carat natural diamonds. Meanwhile, lab grown diamond prices fell by -59.65% to $2,700 for 3 carat lab grown diamonds.
What is the current market value of diamonds? ›
Index Selection
| Price Index | Price (USD) | Range (1m) |
|---|
| 1 Carat Diamond Prices All $4.03K / -2.59% Range $4.02K - $4.2K | $4,028 | $4,017 - $4,205 |
| 1.5 Carat Diamond Prices All $8.66K / -1.64% Range $8.61K - $8.89K | $8,662 | $8,607 - $8,891 |
| 2 Carat Diamond Prices All $17.5K / -1.32% Range $17.4K - $17.9K | $17,454 | $17,392 - $17,901 |
11 more rowsJewelry Market Size & Trends
The global jewelry market size was valued at USD 353.26 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 4.7% from 2024 to 2030.
What is the size of the global luxury jewelry market? ›
Market Overview
The global luxury jewelry market was valued at USD 48.97 billion in 2023. It is expected to reach USD 97.05 billion in 2032, growing at a CAGR of 7.90% over the forecast period (2024-2032). A significant driver is an increase in disposable income and overall wealth, especially in emerging markets.
What is the value of diamond world market? ›
According to the latest research, the global Diamond market size was valued at USD 99683.74 million in 2022 and is expected to expand at a CAGR of 3.31% during the forecast period, reaching USD 121182.91 million by 2028.
All diamonds, from the center stone of an engagement ring to a pair of diamond earrings, have resale value. However, the resale value of a diamond is almost always significantly less than the amount you or your fiancé paid to purchase the diamond when it was new.
What is the diamond market outlook? ›
KEY MARKET INSIGHTS
The global diamond market size was valued at USD 94.19 billion in 2023 and is projected to grow from USD 97.57 billion in 2024 to USD 138.66 billion in 2032 at a CAGR of 4.5% during the forecast period. North America dominated the diamond market with a market share of 55.22% in 2023.
Is the diamond industry in trouble? ›
The diamond industry is in trouble, with declining Chinese demand and the rise of lab-grown options. China is the industry's second-largest market, but fewer Chinese are getting married. The price of natural diamonds has dropped by 30% from their record high in 2022.
What is the size of the diamond industry? ›
What is the global market size of Diamond Market? Diamond Market size was valued at USD 94.96 billion in 2019 and is poised to grow from USD 99.08 billion in 2023 to USD 139.91 billion by 2031, growing at a CAGR of 4.4% in the forecast period (2024-2031).
What is the diamond market status? ›
KEY MARKET INSIGHTS
The global diamond market size was valued at USD 94.19 billion in 2023 and is projected to grow from USD 97.57 billion in 2024 to USD 138.66 billion in 2032 at a CAGR of 4.5% during the forecast period. North America dominated the diamond market with a market share of 55.22% in 2023.
Who is the largest producer of diamond in the world 2022? ›
Russia takes the top spot as the world's largest rough diamond producer, mining close to 42 million carats in 2022, well ahead of its peers. ℹ️ Carat is the unit of measurement for the physical weight of diamonds.
How big is the jewelry market in 2022? ›
The value of the jewelry market is expected to increase from about 270 billion U.S. dollars in 2022 to over 330 billion dollars by 2026.
