Luxury Diamond Jewelry Market Size, Global Trends & Forecast 2034

Luxury Diamond Jewelry Industry Perspective:

The global luxury diamond jewelry market size was worth around USD 17.9 billion in 2024 and is predicted to grow to around USD 36.8 billion by 2034, with a compound annual growth rate (CAGR) of roughly 7.5% between 2025 and 2034.       

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Key Insights

• As per the analysis shared by our research analyst, the global luxury diamond jewelry market is estimated to grow annually at a CAGR of around 7.5% over the forecast period (2025-2034).
• In terms of revenue, the global luxury diamond jewelry market size was valued at around USD 17.9 billion in 2024 and is projected to reach USD 36.8 billion by 2034.
• Growing disposable income of population is expected to drive the luxury diamond jewelry market over the forecast period.
• Based on the product type, the necklaces segment is expected to capture the largest market share over the projected period.
• Based on the material, the gold segment is expected to capture the largest market share over the projected period.
• Based on the distribution channel, the offline retail segment is expected to capture the largest market share over the projected period.
• Based on the end-user, the women segment is expected to capture the largest market share over the projected period.
• Based on region, North America is expected to dominate the market during the forecast period.

Luxury Diamond Jewelry Market: Overview

Luxury diamond jewelry is expensive jewelry crafted from high-quality diamonds and valuable metals such as gold, platinum, or rare alloys. These things are one-of-a-kind because trained artisans make each one by hand, meticulously designing it to showcase its uniqueness, elegance, and eternal beauty. Luxury diamond jewelry isn't produced in large quantities; instead, it's crafted for people who appreciate originality, high-quality materials, and artistic expression. It usually comes with documents that attest to the diamond's quality and origin. The value of expensive diamond jewelry is more than just the cost of the stones. It takes into account how well-known the brand is, how precious the diamonds and other jewels are, and how hard it is to create the jewelry. These types of jewelry often feature unique designs and may symbolize important events, status, or personal meaning. One can get this jewelry from private merchants or custom jewelers. They are made to last in terms of style and strength.

Luxury Diamond Jewelry Market Dynamics

Growth Drivers

Why does rising disposable income & growing affluence propel the luxury diamond jewelry industry growth?

Rising disposable income and wealth have a significant impact on the luxury diamond jewelry market, as more individuals can afford expensive jewelry. People with better jobs and higher incomes may buy more expensive items, such as diamond jewelry, which shows they have good taste, status, and success. This change in the population makes people seek more original, well-made goods with a good reputation, that look good, and that are high-quality. More and more wealthy individuals seek pricey diamond jewelry not just for themselves, but also as gifts, investments, or to commemorate special occasions. This is what is driving the market higher. For instance, in America, real disposable incomes have grown by 3% or more each month in 2024, according to the Department of Commerce.

Restraints

Volatility in natural diamond prices & supply issues impeding the market growth

Natural diamond prices that fluctuate and concerns about supply are significant problems for the luxury diamond jewelry market. This is mainly because they make it harder to find and afford high-quality diamonds. Changes in mining output, geopolitical conflicts, and macroeconomic variables all affect prices, making it unclear for both retailers and consumers. This leads to cautious spending and pricing strategies. For instance, diamond prices went down after peaking in early 2022. This was partly due to pandemic-related supply chain delays and changes in consumer demand. As a result, producers stored raw stones and curtailed sales in the hope that prices would rise again. Thus, this issue hampering the industry growth.

Opportunities

Does the expansion of the market players in emerging region offer a potential opportunity for the luxury diamond jewelry industry growth?

As more businesses enter new markets, the luxury diamond jewelry industry has significant growth opportunities. Emerging countries such as India, China, Southeast Asia, and parts of the Middle East have seen substantial increases in disposable income. This has led to the rise of a wealthy class with high demands for luxury goods. As people go from one demographic group to another, the demand for expensive diamond jewelry rises. This is because people want things that show off their position, income, and personal success. For instance, in September 2025, Forevermark Diamond Jewelry from the De Beers Group opened its first flagship store in India, a country with a long history of diamond mining dating back hundreds of years.

Challenges

How the competition from Lab-Grown Diamonds (LGDs) poses a major challenge to the luxury diamond jewelry market expansion?

There are several problems with lab-grown diamonds (LGDs) that pose a significant threat to the high-end diamond jewelry market. First, lab-grown diamonds are usually 30–40% cheaper than natural diamonds of the same quality. This makes them a better choice for clients, especially in the fashion and mid-tier jewelry markets, where pricing is quite essential. This economic benefit reduces natural diamond market share, especially among younger, more eco-conscious buyers who care about LGDs' ethical origins and sustainability. Thus posing a major challenge to the industry's growth.

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Luxury Diamond Jewelry Market: Report Scope

Luxury Diamond Jewelry Market: Segmentation

The global luxury diamond jewelry industry is segmented based on product type, material, distribution channel, end-user, and region.

Based on the product type, the global luxury diamond jewelry market is bifurcated into necklaces, rings, earrings, bracelets, and others. The necklaces segment is expected to dominate the market. Luxury diamond jewelry necklaces are a popular choice among consumers because they come in a wide range of styles, appeal to people of all ages, and may be worn to remember special events. Rising disposable incomes and wealth drive up demand, especially in developing countries where more money means more spending on luxury goods.

Based on the material, the global luxury diamond jewelry industry is bifurcated into gold, platinum, silver, and others. The gold segment holds the major market share. This robust growth reflects the combined allure of gold and diamonds as symbols of wealth, heritage, and style that drive consumer spending across regions.

Based on the distribution channel, the global luxury diamond jewelry market is divided into online stores, offline retail, specialty stores, and others. The offline retail segment is expected to dominate the market over the forecast period. This is driven primarily by consumer preference for physical store experiences when purchasing high-value luxury items.

Based on the end-user, the global luxury diamond jewelry industry is divided into men, women, and unisex. The women segment holds the largest market share. The rise of millennial and Gen Z women buyers is particularly influential, as they favor minimalist, customizable designs and digitally enhanced shopping experiences such as virtual try-ons and influencer endorsements.

Luxury Diamond Jewelry Market: Regional Analysis

Will North America dominate the luxury diamond jewelry market over the projected period?

North America region is expected to dominate the luxury diamond jewelry market over the analysis period. The region's well-established retail infrastructure, including flagship stores, high-end boutiques, and department stores, makes shopping easier and provides wealthy customers with the experience they want. More and more people are seeking personalized, ethically sourced, and designer diamond jewelry, which is what millennials and Gen Z shoppers in this area want. This drives up sales even more. Trade exhibitions and industry events help the sector thrive by showing off new collections and ideas.

However, the Asia Pacific is expected to grow at the highest CAGR over the forecast period. The increasing disposable income of the population is the major reason for the market development.

Luxury Diamond Jewelry Market: Competitive Analysis

The global luxury diamond jewelry market is dominated by players like:

• Google LLC
• Microsoft Corporation
• ALE International
• Cisco Systems Inc.
• IBM Corporation
• Qualcomm Technologies Inc.
• Oracle Corporation
• HERE Technologies
• TomTom N.V.
• Zebra Technologies
• Foursquare Labs Inc.
• Ericsson
• MapmyIndia (C.E. Info Systems)
• Esri
• Sensewhere Ltd.

The global luxury diamond jewelry market is segmented as follows:

By Product Type

• Necklaces
• Rings
• Earrings
• Bracelets
• Others

By Material

• Gold
• Platinum
• Silver
• Others

By Distribution Channel

• Online Stores
• Offline Retail
• Specialty Stores
• Others

By End-User

• Men
• Women
• Unisex

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