Diamond Jewelry Market Report 2024 (Global Edition)

Global Diamond Jewelry Market Report 2024 Market Size Split by Cut (Round Brilliant Cut Diamond, Princess Cut Diamond, Emerald Cut Diamond, Radiant Cut Diamond, Cushion Cut Diamond, Oval Cut Diamond, ...

Diamond Jewelry Market Report Description

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Competitive Landscape of the Diamond Jewellery Market

The diamond jewellery market is constantly evolving. In order to maintain a competitive edge, players often introduce new tactics more regularly. Market participants are concentrating on raising R&D expenditures to develop fresh, alluring solutions that make it easier for customers to buy diamond jewellery. In addition, large businesses are focusing on new markets and demographics to boost product sales. They may choose to enter the new market on their own or work with regional brands and merchants around the world. 

Recent Developments in the Diamond Jewellery Market

• In order to introduce the fashion store on the e-commerce platform, French fashion boutique Le Mill and Indian lifestyle and luxury items retailer Tata Cliq Luxury partnered up. The collaboration aims to provide trendsetting fashion names, including jewellery, to the Indian market and link Indian consumers with the European fashion scene. 

Source- https://luxury.tatacliq.com/lemill 

• 'The Future Rocks,' an e-commerce platform featuring jewellery products manufactured from recycled metals and lab-grown diamonds, was founded by Hong Kong retailer Chow Sang. 

Source- https://thefuturerocks.com/ 

• Zales and American fashion design house Vera Wang collaborated to produce a special line of diamond bridal jewellery in October 2020. The bridal collection by Vera Wang has made its way into Zale stores around the United States and Puerto Rico. The business specialises in matching various bridal diamond styles to the bridal wear department.

Source- https://www.zales.com/vera-wang-love-collection 

• Blue Nile Inc. established a cooperation with Lightbox, an innovative jewellery firm that grows diamonds in laboratories, in October 2020. By showcasing Lightbox lab-grown diamonds in an exclusive fashion jewellery line on its website, the company expanded its product offering to include lab-created diamonds.

Source- https://www.bluenile.com/diamonds/lab-grown-diamonds 

• Harry Winston, Inc. introduced the Harry Winston 2020 Novelties line of timepieces in 2020. These clocks include unique features such a 36mm diameter, 18k white gold with 199 diamonds, and 100m water resistance. The product showcased a distinct style and trend among the current line of products.

Source- https://www.harrywinston.com/en/products/harry-winston-the-ocean-collection/ocean-biretrograde-automatic-36mm-w3/18k-white-gold-diamond-set-oceabi36ww062 

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

• Tiffany & Co.
• Bulgari S.p.A.
• Cartier
• Signet Jewelers
• De Beers plc
• Pandora Jewellery
• LLC
• Chow Tai Fook Jewellery Group Limited
• Swarovski AG
• Petra Diamonds Limited
• Trans Hex Group
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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.

Which Region will dominate the Market in 2024, and Which Region is Expanding at the Fastest CAGR?

The North America region dominated the diamond jewellery market in 2023. The high level of disposable income and widespread use of the commodity in wedding jewellery are factors contributing to the market's growth in the area. Individually, the United States and other countries in the region account for over half of the product's global demand. Young customers are also influenced to purchase jewellery by a large number of influencers in the area. As a result, demand in the area is rapidly rising and is predicted to do so at a moderate CAGR over the projected year.

The market is projected to rise gradually over the next few years in Asia Pacific, with a notable expansion in the industry. The regional market is being driven by the need for jewellery made in laboratories. 

• According to the Gem & Jewellery Export Promotion Council (GJEPC), India's LGD industry has expanded rapidly over the last five years, with exports rising from USD 131 million in 2016–17 to USD 1.5 billion in April 2022–February 2023. 

Source- https://gjepc.org/solitaire/first-ever-lab-grown-diamond-bsm-kicks-off-in-surat-india/#:~:text=Shri%20Vipul%20Shah%2C%20Chairman%2C%20GJEPC,April%202022%20to%20February%202023. 
 

The current report Scope analyzes 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.

Diamond Jewelry Market Analysis

Which Type Segment accounts for the majority market share?

The round brilliant cut diamonds led the cut segment in 2023. The symmetry, structure, and light-dancing reflections of round brilliant cut diamonds have led to their universal acceptance. These characteristics have led to customers choosing these diamonds as the ideal option for engagement rings. These diamonds are also the most expensive of all the diamonds offered for sale, making up a significant portion of the diamond shapes sold worldwide.  

Global jewellery producers like Tiffany & Co., Chow Tai Fook Jewellery Group Limited, and others have been the main forces behind the sales of round-cut diamonds that have been styled and cut to appeal to fashion-forward consumers. The "Charles Tiffany Setting," a men's engagement ring with a striking solitary diamond, was revealed by Tiffany & Co. in May 2021. 
Source- https://press.tiffany.com/tiffany-co-introduces-its-first-mens-engagement-ring-the-charles-tiffany-setting/  

Both the round-cut and emerald-cut diamonds are available for purchase as engagement rings. Princess-cut diamonds are becoming increasingly popular due to their cutting-edge design and contemporary look. Furthermore, the diamond's 58 facets complement a halo engagement ring setting beautifully. Compared to other forms, these diamonds are less expensive. In America, princess-cut diamond is the increasingly common type of diamond used in engagement rings. 

• Round Brilliant Cut Diamond
• Princess Cut Diamond
• Emerald Cut Diamond
• Radiant Cut Diamond
• Cushion Cut Diamond
• Oval Cut Diamond
• Asscher Cut Diamond
• Marquise Cut Diamond
• Pear Cut Diamond
• Heart Cut Diamond
• Others
   

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 Diamond Jewelry Industry. Request a Free Sample PDF!

How is the Application Segment performing in the Diamond Jewellery Market?

With the largest proportion of the market, the Very Slightly Included (VS2) category is predicted to increase at the highest rate. Even at a 10x magnification, the diamonds are clearly visible. Because of its huge flaws, the inclusion will be difficult to miss and immediately visible under magnification. Among the various diamond clarities, these are the most popular choices for engagement rings and are thought to have the most appeal. In terms of popularity and resale value, SI1, or slightly included 1st degree, diamonds are in the top of the diamonds available for engagement rings worldwide. Additionally, the first-degree inclusions can be easily noticed at 10x magnification and may contain inclusions that are visible to the unaided eye. 

• FL and IF
• I (1/2/3)
• VVS 1
• VVS 2
• VS 1
• VS 2
• SI 1
• SI 2
   

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

Diamond Jewelry Color Segment Analysis

In 2023, near-colourless diamonds held a dominant share. It is anticipated that during the forecast period, they will lead the overall segmental share. The colour grading of near-colourless diamonds ranges from G to J. When compared to a colourless diamond, these diamonds' colour may be seen, but when seen alone, they typically seem colourless. 

This grade of diamond provides the best value because it is less expensive than colourless diamonds without sacrificing any noticeable tinge. When these diamonds are set in jewellery, they take on no colour. Additionally, diamond dealers from worldwide auctions, exhibits, and private sales events are in high demand for these colour ranges of diamonds. 

• A 228.31-carat, nearly colourless (G-color), pear-shaped diamond, for example, sold for over USD 22 million at Christie's Geneva in Switzerland in May of 2022. 

Source- https://www.christies.com/about-us/press-archive/details?PressReleaseID=10422 
 

• Colorless (GRADE D/E/F)
• Near Colorless (GRADE G/H/I/J)
• Faint (K/L/M)
• Very Light (GRADE N/O/P/Q/R)
• Light (GRADE S/T/U/V/W/X/Y/Z)

Diamond Jewelry Carat Segment Analysis

The 1-carat diamond held the largest market share in 2023. Due to its low cost, a 1-carat diamond, which weighs about 200 milligrams, is easily accessible. When comparing cheap and reasonable pricing possibilities, those who want to narrow down their search needs will find that the 1-carat diamond is in the low-category budget. Furthermore, 1-carat diamonds are becoming a more popular choice for jewellery. 

The 0.50 carat diamond market is predicted to increase at the quickest rate. The 0.50 CT, or half-carat, diamonds are an frequently used option for wedding bands due to their more affordable pricing when compared to their weights above. Additionally, these diamonds have been widely accepted and look attractive in halo and solitaire settings. 

The white metal ring, which can reflect the diamond's size like a mirror, also complements the diamond wonderfully. These diamonds enhance the appearance of the diamond's size and go nicely with settings made of rose and yellow gold. 
 

• 0.009 CT - 0.30 CT
• 0.50 CT
• 0.75 CT
• 1 CT
• 1.25 CT
• 1.50 CT
• 1.75 CT
• 2.00 CT
• 2.50 CT
• 3.00 CT
• 3.50 CT
• 4.00 CT
• 5.00 CT and Above

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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