Editor’s Note
This article contains market data and projections for the global diamond industry, including a forecasted compound annual growth rate (CAGR) of 4.6% through 2034.
North America dominated the diamond market with a share of 55% in 2025. Furthermore, the U.S. diamond market size is expected to grow significantly, reaching an estimated USD 68.64 billion by 2032, driven by growing jewelry consumption worldwide.
Diamonds are among the hardest materials on Earth and are known as a gemstone. Market growth is associated with the rising demand for jewelry and its use in industrial applications. The product is used according to its extreme hardness and distributed to industry experts for jewelry manufacturing and industrial purposes. Additionally, the product is employed for research purposes where unique properties are required. Therefore, all factors are expected to boost the global market during the forecast period.
Market Size and Forecast
Market Size 2025: USD 102.06 Billion
Market Size 2026: USD 106.76 Billion
Forecast Value 2034: USD 153.1 Billion
CAGR (2026–2034): 4.6%
Market Share Highlights
Regional Leader: North America held a 55% share in 2025.
The U.S. alone is projected to reach USD 68.64 billion by 2032, driven by strong jewelry demand and high disposable income.
North America: Market Size 2026: USD 59.29 Billion
Asia-Pacific: Fast-growing economies (China, India)
Europe: Strong per capita income and presence of major producers (e.g., De Beers, Alrosa).
Latin America: Industrialization boosts demand for diamond-based cutting tools.
Middle East & Africa: Growth driven by industrial applications and increased regional investments.
The COVID-19 outbreak impacted almost every country worldwide. Mines were closed and production was restricted due to limitations on polishing and cutting centers. Jewelry manufacturers faced supply chain disruptions as affected countries like the U.S., India, China, Russia, and others imposed lockdowns. However, demand was not huge during the pandemic, but the global market returned to pre-pandemic levels. China led the market recovery as one of the world’s fastest-recovering economies.
The demand for colorful jewelry has increased as consumer preferences have changed. The changed consumer behavior created a huge opportunity for existing and new manufacturers of these products, including synthetic diamonds, along with many resellers to establish their presence in the global market. Furthermore, online platforms have grown dramatically in just a few years, thereby driving the consumption of jewelry products as consumers prefer to shop online to save time and maintain social distance.
Growing demand from the jewelry industry due to its properties to foster market growth.
