Editor’s Note
This analysis provides a snapshot of the U.S. diamond market, valued at $58.97 million in 2024. Projections indicate steady growth to approximately $96.93 million by 2032, driven by a compound annual growth rate of 6.6%. The data offers key insights for stakeholders tracking market trends and investment opportunities in this sector.
The U.S. diamond market size was valued at USD 58.97 million in 2024. The market is projected to grow from USD 61.97 million in 2025 to USD 96.93 million by 2032, exhibiting a CAGR of 6.6% during the forecast period.
Diamond is a naturally occurring mineral composed entirely of carbon atoms arranged in a unique crystal lattice called the diamond cubic structure, making it the hardest known natural material. It forms deep in the Earth’s mantle under extreme pressure and temperature and is valued for its brilliance, transparency, and high refractive index, which give it exceptional sparkle. Diamonds are used both as gemstones in jewelry and for industrial purposes, such as cutting, drilling, and heat conduction. Additionally, synthetic diamonds can be created in laboratories using advanced methods.
The market is driven by the rapid adoption of lab-grown diamonds in the bridal and fashion segments, primarily due to their affordability and increasing awareness of sustainability. The rise of digital retail and personalization, with AR/VR try-on tools and omnichannel jewelry shopping is driving increasing traction.
Furthermore, the market is dominated by several major players, including Brilliant Earth, LLC, ALTR Created Diamonds, CVD Diamond Inc., Labrilliante, WD Advanced Materials, LLC, and Diamond Foundry, which are at the forefront. A broad portfolio, innovative product launches, and strong initiatives aimed at the expansion of geographical presence have supported the dominance of these companies in the U.S. market.
The growing demand from the jewelry industry is significantly driving the expansion of the diamond market, largely due to the gemstone’s unique physical and aesthetic properties. Diamonds’ exceptional hardness, brilliance, and durability make them ideal for fine and daily-wear jewelry, ensuring long-term value and emotional appeal. Their unmatched sparkle, high refractive index, and ability to be cut into diverse shapes provide designers with creative flexibility. This enables innovative and personalized designs that resonate with modern consumers seeking individuality and self-expression.
Moreover, the symbolic association of diamonds with luxury, love, and prestige continues to drive the global demand for bridal and gifting purposes. The increasing adoption of lab-grown diamonds, which share the same optical and chemical properties as natural ones, has broadened access to sustainable, affordable, and ethically sourced jewelry.
Additionally, advancements in CAD and 3D printing technologies are also enhancing precision in diamond cutting and jewelry design, supporting mass customization. As disposable incomes rise and sustainability awareness grows, these intrinsic properties, combined with evolving fashion trends and technological advancements, are expected to drive the market growth across both natural and lab-grown diamond segments in the coming years.
The high price of natural diamonds remains a key factor that may restrain product adoption across several industrial and commercial applications. Natural diamonds are costly due to their limited availability, complex extraction processes, and labor-intensive grading and certification systems.