PUBLISHER: The Business Research Company | PRODUCT CODE: 1929355
PUBLISHER: The Business Research Company | PRODUCT CODE: 1929355
Diamond mining involves the extraction of diamonds of varying carats through processes that combine art, science, engineering, and extensive labor. There are three methods employed in diamond mining, pipe mining, alluvial mining, and marine mining.
The main categories of diamonds are designated for jewelry making and industrial applications. Jewelry making pertains to ornamental pieces such as rings, necklaces, earrings, and bracelets, crafted from materials that may or may not be precious (such as gold, silver, glass, and plastic), set with genuine or imitation gems, and worn for personal adornment. The grades of diamonds include gem grade and industrial grade. Various mining methods encompass both underground mining and surface mining.
Tariffs are impacting the diamond market by increasing costs of imported mining equipment, cutting and polishing machinery, and cross-border diamond trade logistics. Jewelry and industrial tool manufacturers in Europe and Asia-Pacific are most affected due to dependence on global diamond supply chains. These tariffs are increasing processing costs and affecting pricing strategies. However, they are also encouraging local cutting and polishing facilities, regional value addition, and transparent supply chain development.
The diamond market research report is one of a series of new reports from The Business Research Company that provides diamond market statistics, including diamond industry global market size, regional shares, competitors with a diamond market share, detailed diamond market segments, market trends and opportunities, and any further data you may need to thrive in the diamond industry. This diamond market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The diamond market size has grown steadily in recent years. It will grow from $1.39 billion in 2025 to $1.45 billion in 2026 at a compound annual growth rate (CAGR) of 4.7%. The growth in the historic period can be attributed to expansion of global jewelry consumption, growth in industrial cutting and drilling applications, availability of natural diamond reserves, development of large-scale mining operations, rising consumer preference for certified diamonds.
The diamond market size is expected to see strong growth in the next few years. It will grow to $1.84 billion in 2030 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to increasing demand for lab-grown diamond alternatives, rising use of diamonds in advanced manufacturing tools, expansion of blockchain-based diamond traceability, growing focus on environmentally responsible mining, increasing industrial demand for precision tools. Major trends in the forecast period include increasing adoption of ethical diamond mining practices, rising use of traceability and certification systems, expansion of automated diamond processing, growing demand for industrial diamond applications, enhanced focus on sustainable mining operations.
Anticipated expansion in the diamond market is also linked to the burgeoning e-commerce and online retailing sector. E-commerce, involving the buying and selling of goods and services over the internet, provides diamond retailers with a global reach, offering customers a convenient shopping experience, easy comparison, customization options, secure transactions, access to reviews and ratings, and clear return policies. According to census.gov, retail trade sales increased by 0.6% from July 2023, and e-commerce sales in the second quarter of 2023 witnessed a notable 7.5% increase when compared to the same period in 2022. A significant share of 15.4% of all sales in the second quarter of 2023 occurred through online stores, emphasizing the substantial impact of the e-commerce sector on the diamond market.
Major players in the diamond market are innovating by introducing new products such as lab-grown diamonds to stay competitive. Lab-grown diamonds, created in a laboratory setting rather than through natural geological processes, offer an alternative to mined diamonds. In August 2023, Pandora A/S, a Denmark-based jewelry manufacturer, launched collections named Pandora Nova, Pandora Era, and Pandora Talisman featuring lab-grown diamonds set in sterling silver or 14k white or yellow gold. These lab-grown diamonds possess qualities identical to mined diamonds in terms of color, cut, clarity, and carat. The introduction of these collections aligns with Pandora's goal of democratizing diamonds through ethically and environmentally responsible practices, offering reasonably priced, high-quality jewelry with minimal environmental impact.
In March 2024, Star Diamond Corporation, a Canada-based natural resource company focused on diamond exploration and development, acquired Rio Tinto Exploration Canada Inc.'s 75% stake in the Fort a la Corne diamond project for an undisclosed amount, completing the previously announced transaction. Through this acquisition, Star Diamond aims to strengthen its position in the diamond market by obtaining full ownership of one of Canada's most promising diamond assets and integrating the project into its core portfolio, thereby enhancing future development and production prospects. Rio Tinto Exploration Canada Inc. is a Canada-based subsidiary of Rio Tinto Group that previously held a majority interest in the Fort ala Corne diamond project.
Major companies operating in the diamond market are Anglo American plc, ALROSA PJSC, Rio Tinto plc, Lucara Diamond Corporation, Petra Diamonds Limited, Gem Diamonds Limited, Mountain Province Diamonds Inc., Stornoway Diamond Corporation, Koidu Limited, Williamson Diamonds Limited, Catoca Mining Company, Debswana Diamond Company, Murowa Diamonds Private Limited, RZM Murowa Proprietary Limited, Luele Mining Company, Sociedade Mineira de Catoca, Namdeb Diamond Corporation, Okavango Diamond Company, Marange Resources Private Limited, Letseng Diamonds Limited
Africa was the largest region in the diamond market in 2025. The regions covered in the diamond market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the diamond market report are China, India, Japan, Australia, Indonesia, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, Taiwan, New Zealand, UK, Germany, France, Italy, Spain, Austria, Belgium, Denmark, Finland, Ireland, Netherlands, Norway, Portugal, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.
The diamond market includes revenues earned by entities by using the revenues generated by diamonds to aid national development. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Diamond Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses diamond market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for diamond ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The diamond market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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