Global Diamond Market Major Players 2024, Forecast To 2033
25 Sep, 2024
The diamond market is witnessing substantial expansion, with its size increasing from $2.43 billion in 2023 to $2.59 billion in 2024, reflecting a CAGR of 6.7%. This growth is primarily driven by its pivotal role in the jewelry sector, luxury symbolism, and its investment potential. Forecasts indicate that the market will reach $3.29 billion by 2028, with a CAGR of 6.2%. Major trends include customization in jewelry, AI advancements in grading, and a growing preference for sustainable sourcing.
Major Driver In The Diamond Market
The growth of the diamond market is attributed to the increasing population in developing countries like China and India, driven by rising disposable income, heightened demand, and improved access to credit. Disposable income, defined as the remaining funds available for spending or saving after deducting income taxes, saw a notable increase in China in 2021, reaching 47412 CNY, as reported by the Bureau of Statistics of China. This rise in disposable income is a key factor propelling the diamond market forward in 2023, 2024, and 2028. Marine mining, specifically in offshore placer deposits, is contributing to the availability of diamonds, further supporting market growth.
Request A Free Sample Of The Global Diamond Market ReportDiamond Market Competitive Landscape
Sumitomo Electric Industries Ltd., Anglo American plc, Rockwell Diamonds Limited, 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., Gem Diamonds Limited, CENTAURUS Technologies Inc., WD Lab Grown Diamonds, New Diamond Technology LLC, IIa Technologies Pte. Ltd., Clean Origin LLC, Pure Grown Diamonds Inc., ABD Diamonds Private Limited, Washington Diamonds Corporation, Diam Concept International, Applied Diamond Inc., Crystallume PVD, Mittal Diamonds, D.NEA Diamonds, Finegrown Diamonds, Zhongnan Diamond Co. Ltd., Heyaru Group, SedKrist GmbH
Diamond Market Segmentation
The diamond market covered in this report is segmented –
1) By Type: Jewelry Making, and Industrial Applications
2) By Mining Type: Underground Mining, Surface Mining
By Geography:The regions covered in the diamond market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.
Africa was the largest region in the diamond market in 2023.
The Diamond Global Market Report 2024 furnishes information about the global diamond market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.