Enjoy complimentary customisation on priority with our Enterprise License!
The global diamond jewelry market size is estimated to grow by USD 16.6 billion between 2022 and 2027 accelerating at a CAGR of 3%. The growth of the market primarily depends on new innovative designs and manufacturing technologies. The preferences and tastes of customers are changing. Therefore, manufacturers are offering a wide variety of designs to cater to customers' preferences as well as differentiate themselves from competing brands. Vendors are constantly focussing on enhancing designs. For instance, in October 2022, Tiffany launched their new collection with floral designs inspired by flowers.
To learn more about this report, View Sample PDF
Additionally, wedding occasions are a major factor driving the diamond jewelry market. Bridal jewelry, which includes diamond jewelry, accounts for a major share of the global diamond jewelry market. India is one of the major markets for wedding jewelry. Vendors in India are seizing the opportunity by launching new brands specific to the wedding season to stay ahead of competitors. For instance, in Q1 2021, (Tanishq) reinvented its wedding brand Rivaah which offers diamond earrings and rings for weddings. Such factors are driving market growth.
Prominent vendors of the diamond jewelry market include Tiffany, Harry Winston, Tanishq, Signet, BlueStone, and Pandora. Vendors strategically engage customers through campaigns on social media platforms, such as Facebook, YouTube, and Instagram. All these factors are driving the growth of the market.
This report extensively covers market segmentation by Distribution Channel (specialty stores, department stores, discounters, online retailers, and others) and Geography (North America, APAC, Europe, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
The rings segment had the largest market share in the global diamond jewelry market in 2022. The rings segment was valued at USD 48.14 billion in 2017 and continued to grow until 2021. Vendors are captivating customers through strategic alliances and launching new products in this segment. For instance, Harry Winston offers engagement rings made from rare diamonds, selected from only the top color and clarity grades. It also offers rings with different diamond shapes, which include cushion cuts, emeralds, hearts, and others.
The necklaces segment in the global diamond jewelry market is expected to witness significant growth in terms of market revenue when compared with other segments, including earrings, rings, pendants, and bangles, during the forecast period. The demand for necklaces is growing due to the rising personal grooming, fashion consciousness, and high standard of living among the female population across the world.
Get a glance at the market contribution of various segments View Sample PDF
Earing is one of the most in-demand pieces of jewelry among women. Diamond earring is mostly common in high-income countries such as the US, the UK, and France. Developing countries such as India significantly add to the demand for diamond earrings in the market. Many vendors offer their customers the option to customize earrings according to their requirements. For instance, LVMH offers the customization option for earrings on its website and provides options for customizing diamond type and ring designs and the collection of the company's designers.
Consumers prefer buying diamond jewelry from these stores, as they carry a large portfolio of products and provide the required support and information to consumers and offer them advice via expert customer service personnel. However, over the years, the revenue of offline distribution channels such as specialty stores has witnessed a gradual decline due to the shift in consumer preference toward online shopping.
The discounter channel consists of stores that sell products at prices lower than the typical market value. Discount retailers include Aldi, Lidl, Poundland, and Home Bargains. For instance, Aldi offers a wedding range of diamond jewelry so that customers can buy it within their budget.
North America is estimated to contribute 44% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
For more insights on the market share of various regions View the Sample PDF now!
The rising technological innovation in the online retail channel is another growth driver for the market in the US. For instance, the e-commerce application of Riddles Jewelry offers the feature of try-on, where customers can virtually try the product with the help of the camera in their smartphones. This feature of try-on and the inclusion of AR in the market in North America will power the purchasing decisions of customers and empower them to purchase jewelry products online. This will consecutively drive the market for diamond jewelry in North America.
Take a quick look at various segments. View the Report Sample PDF
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the Diamond Jewelry Market.
Pandoragroup- This brand offers different jewelry collections under names such as Pandora Timeless, Pandora Signature, Pandora ME, and Pandora Brilliance. To captivate customers they launched 12 different jewelry themes and collaborated with well-known brands to create jewelry with characters and icons from universes like Harry Potter, Star Wars, and Disney.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market is influenced by various factors driving both its growth and evolving trends. With the beauty and fashion industry setting high standards, consumers are increasingly inclined towards precious jewelry like diamond engagement rings and wedding bands for formal occasions, reflecting their fashion sense and desire for elegance. Additionally, the rising female population contributes to the market's expansion, as women seek personalized options such as custom jewelry and mismatched stones for both formal and informal events. Moreover, colored diamonds and gemstones gain popularity, adding unique touches to designs and serving as symbols of love and individuality.
Furthermore, ethical concerns surrounding traditional diamond mining practices and geopolitical instability in key mining regions propel the demand for transparency and social responsibility within the industry. This leads to the adoption of lab-grown diamonds and sustainable sourcing practices by jewelry manufacturers, aligning with consumer preferences for ethically sourced products. Celebrity endorsements further drive market growth by influencing consumer perceptions and trends, while the enduring appeal of heirlooms continues to sustain demand for classic designs and timeless elegance in diamond jewelry.
Our researchers analyzed the data with 2022 as the base year and the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The global diamond jewelry market is experiencing growth propelled by the beauty and fashion industry's embrace of e-commerce platforms. With products readily available on online shopping portals, consumers enjoy convenient services and hassle-free shopping experiences. The transition to online platforms offers various advantages such as product comparison, cash-on-delivery services, and easy return policies. Moreover, manufacturers venturing into the online realm contribute to the market's expansion. As the e-commerce segment continues to evolve, offering secure transactions and enhancing customer satisfaction, the diamond jewelry market is poised for significant growth during the forecast period.
Over the last few years, it has become popular due to high affordability, growing fashion consciousness, availability of many designs and styles, and rising exposure to social media platforms. Vendors operating in the market are adopting various inorganic growth strategies such as M and A and partnership activities to widen their reach and customer base and expand their product offerings. Some of the recent instances are given below:
Thus, increasing growth strategies by the vendors operating in the market will drive the growth of the market during the forecast period.
Counterfeit products and brands are increasingly penetrating the online retail space, particularly in the industry. Counterfeiters take advantage of the fact that customers cannot physically inspect products before purchasing, resulting in profits from fraudulent sales. They also mimic the digital marketing strategies of top brands, building campaigns. This problem is prevalent in the Middle East and Southeast Asia, which will negatively impact market growth in the future.
Get detailed analysis of drivers, trends, and challenges View Report Sample
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The market continues to thrive due to the enduring acceptance of diamond jewelry as symbols of love and elegance, particularly in ceremonies like diamond rings for engagements and weddings. Changing consumer lifestyles and preferences drive demand, with innovations in diamond jewelry designs catering to modern tastes, including gender-free jewelry designs, danglers, customized diamond jewelry, Emerald cut diamonds, Diamond engagement rings, and mismatched stones. Ethical and sustainable sourcing practices prompt a shift towards ethically sourced and sustainable diamonds, amidst rising awareness and stringent regulations. Despite rising prices, international and local brands offer premium diamond jewelry, complemented by celebrity endorsements. As demand grows, lab-grown diamonds and cheaper alternatives emerge, as well as diamond-studded hoop earrings, ensuring the market's resilience across diverse consumer segments.
Moreover, the market is experiencing significant transformations driven by changing consumer preferences and the availability of premium options like custom and lab-made diamonds. Asymmetric earrings, couple rings, and cufflinks reflect the demand for unique designs, while ethical sourcing practices gain importance. Colored diamonds and gemstones offer variety, appealing to modern tastes. Bridal makeup trends influence expenditure on bridal jewelry, with halo engagement rings and diamond-studded chains in vogue. The market also sees innovations like cartography necklaces and gender-free designs. While traditional diamond clarity and carat remain important, consumer awareness about hallmarks and sustainable sourcing practices is growing, shaping the future of the industry.
Diamond Jewelry Market Scope |
|
Report Coverage |
Details |
Page number |
179 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3% |
Market growth 2023-2027 |
USD 16.6 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
2.8 |
Regional analysis |
North America, APAC, Europe, Middle East and Africa, and South America |
Performing market contribution |
North America at 44% |
Key countries |
US, China, India, Japan, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Anglo American plc, BlueStone Jewellery and Lifestyle Pvt. Ltd., Brilliant Earth LLC, Cartier SA, CHANEL Ltd., Compagnie Financiere Richemont SA, DAMIANI S.p.A., F.lli Pisa SRL, Graff Diamonds Ltd., Harry Winston Inc., Kalyan Jewellers India Ltd., Kering SA, Le petit fils de L.U. Chopard and Cie SA, LVMH Moet Hennessy Louis Vuitton SE, Malabar Gold and Diamonds, Pandora AS, Parker Diamonds, Signet Jewelers Ltd., Swarovski AG, Tacori Inc., and Tata Sons Pvt. Ltd. |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our market research report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.