Diamond Jewelry Market is expected to grow to around USD 136.52 billion by 2032.

Diamond Jewelry Industry Perspective

The global diamond jewelry market size was worth around USD 90.29 billion in 2023 and is predicted to grow to around USD 136.52 billion by 2032 with a compound annual growth rate (CAGR) of roughly 4.70% between 2024 and 2032.

Diamond jewelry services are professional offerings focused on creating, selling, and maintaining diamond jewelry pieces made from precious metals. These services cover engagement rings, wedding bands, necklaces, earrings, bracelets, pendants, and customized jewelry designs. Additional services include jewelry repairs, resizing, diamond grading verification, valuation, insurance documentation, and design consultations. Jewelers use skilled craftsmanship, high-quality diamonds, precious metals, computer-aided design tools, and traditional techniques to create lasting, valuable pieces. Customers buy diamond jewelry to celebrate milestones, express personal style, show emotional commitment, and preserve long-term value. Many retailers provide certified diamonds, maintenance programs, exchange options, customization support, and flexible payment plans. Industry standards define diamond grading based on cut, clarity, color, and carat weight, as well as metal purity levels and responsible sourcing practices.

Browse the full “Diamond Jewelry Market By Carat (5.00 CT, 4.00 CT, 3.5 CT, 3.0 CT, 2.5 CT, 2 CT, 1.75 CT, 1.5 CT, 1.25 CT, CT, 0.75C CT, and less than 0.75 CT), By Color (GRADE S/T/U/V/W/X/Y/Z, GRADE N/O/P/Q/R, K/L/M, GRADE G/H/I/J, and GRADE D/E/F), By Cut (Heart Cut Diamond, Pear Cut Diamond, Marquise Cut Diamond, Oval Cut Diamond, Cushion Cut Diamond, Radiant Cut Diamond, Pear Cut Diamond, and Others), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2024 - 2032​" Report at https://www.zionmarketresearch.com/report/diamond-jewelry-market

The growth of the global diamond jewelry industry is primarily driven by rising wedding ceremonies worldwide, rising consumer spending power in emerging economies, and growing demand for personalized and custom jewelry designs.

Market Growth Factors

Several factors are propelling the expansion of the diamond jewelry market.

• Emerging market wealth growth: Expanding middle-class populations in developing countries increase demand for diamond jewelry as symbols of success, celebration gifts, and long-term value storage.
• Bridal jewelry demand: Global wedding traditions and stable marriage rates support consistent diamond jewelry sales, with buyers seeking engagement rings and personalized designs.
• E-commerce expansion: Online jewelry platforms provide consumers with a broader selection, competitive pricing, detailed product information, customer reviews, virtual try-on technology, and convenient home delivery, making diamond jewelry easier to purchase.

Restraints

• Laboratory-grown diamond competition: Affordable lab-grown diamonds attract price-sensitive buyers by offering a similar appearance and quality at significantly lower costs.
• Economic sensitivity concerns: Diamond jewelry is an optional luxury spending that people often reduce during economic downturns or financial stress, leading to unstable sales for retailers and manufacturers who rely on confident consumers making high-value purchases.

Market Segmentation

The global diamond jewelry market is segmented based on carat, color, cut, and region.

Based on the carat, the global market segments are 5.00 CT, 4.00 CT, 3.5 CT, 3.0 CT, 2.5 CT, 2 CT, 1.75 CT, 1.5 CT, 1.25 CT, CT, 0.75C CT, and less than 0.75 CT. In 2023, the highest demand was listed in the carat segment. According to market analysis, 1 CT diamond is often considered for engagement and wedding rings. The carat value offers excellent cost-efficiency and is available in exquisite designs. The average cost of 1 CT natural diamond in the low range is between USD 1000 to USD 3000 according to industry analysis.

Based on grade, the global diamond jewelry industry is divided into grade S/T/U/V/W/X/Y/Z, grade N/O/P/Q/R, K/L/M, GRADE G/H/I/J, and grade D/E/F.

Based on the cut, the global market divisions are heart cut diamond, pear cut diamond, marquise cut diamond, oval cut diamond, cushion cut diamond, radiant cut diamond, pear cut diamond, and others. In 2023, the highest revenue was registered in the oval cut segment. Industry research indicates that oval-shaped diamond rings achieved higher popularity in 2023. Furthermore, cushion-cut diamonds are generally considered timeless and hence enjoy widespread popularity. The Pink Star oval-cut diamond is the most expensive ring in the world currently worth USD 71.2 million.

North America leads the global diamond jewelry market because consumers show a strong cultural attachment to diamond engagement rings and a strong ability to spend on luxury purchases. The United States and Canada maintain long-standing traditions in which diamond rings symbolize engagement, creating a steady base of demand across generations. High average wedding spending includes large jewelry budgets for both engagement rings and wedding bands. Consumers consider diamond jewelry suitable gifts for important life moments, including anniversaries, graduations, and milestone birthdays. Strong retail networks include many specialty jewelers, luxury stores, and easy-to-use online platforms. Marketing efforts strongly connect diamonds with love, commitment, and lasting relationships. Wealthy consumer groups continue to buy investment-quality pieces and expand their personal jewelry collections. Active resale markets and trade-in programs support continued consumer trust in the retention of diamond value.

Key Market Players

Leading companies operating in the global diamond jewelry market include:

• Harry Winston
• Helzberg Diamonds
• Tiffany & Co.
• Van Cleef & Arpels
• Pandora
• Chopard
• Brilliant Earth
• Cartier
• Mikimoto
• De Beers
• James Allen
• Bulgari
• Graff
• Zales
• Blue Nile

Recent Developments

• In December 2025, luxury conglomerate Kering announced a strategic investment in Italian jewelry maker Raselli Franco Group, acquiring an initial 20 percent stake to strengthen its presence in high-end jewelry manufacturing.

The global diamond jewelry market is segmented as follows:

By Carat

• 5.00 CT
• 4.00 CT
• 3.5 CT
• 3.0 CT
• 2.5 CT
• 2 CT
• 1.75 CT
• 1.5 CT
• 1.25 CT
• CT
• 0.75C CT
• less than 0.75 CT

By Color

• GRADE S/T/U/V/W/X/Y/Z
• GRADE N/O/P/Q/R
• K/L/M
• GRADE G/H/I/J
• GRADE D/E/F

By Cut

• Heart Cut Diamond
• Pear Cut Diamond
• Marquise Cut Diamond
• Oval Cut Diamond
• Cushion Cut Diamond
• Radiant Cut Diamond
• Pear Cut Diamond
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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