Market Overview

According to the fortune business insights, the global diamond market size was valued at USD 102.06 billion in 2025. The market is projected to grow from USD 106.76 billion in 2026 to USD 153.1 billion by 2034, exhibiting a CAGR of 4.6% during the forecast period. North America dominated the diamond market with a market share of 55% in 2025.

The analysis shows that market growth is associated with the rising demand for diamonds in jewelry, driven by changing consumer preferences and increasing disposable income. Furthermore, the product's unique properties, such as extreme hardness and high thermal conductivity, make it essential for various industrial applications, including cutting tools and research, further boosting the global market.

Major Players Profiled in the Market Report:

• KGK Group (China)
• De Beers (Canada)
• Rio Tinto (U.K.)
• Arctic Canadian Diamond Company Ltd (Canada)
• Petra Diamonds (South Africa)
• Alrosa (Canada)
• Argyle (Switzerland)
• WD Lab Grown Diamonds (U.S.)
• Gem Diamonds (U.K.)
• Sagar Diamonds (India)

Segments

Wide Availability and Lower Cost to Propel Synthetic Segment Growth

Based on type, the market is divided into natural and synthetic. The synthetic segment holds the dominant market share (96.97% in 2026), driven by its wide availability and lower cost. Its growth is also linked to the expanding construction industry, where synthetic diamonds are used in cutting and drilling tools, and its increasing popularity in jewelry.

Rising Disposable Income to Drive Jewelry Segment Expansion

By application, the market is categorized into jewelry and industrial application. The jewelry segment holds the largest market share (94.79% in 2026), driven by increasing disposable income, brand marketing for special occasions, and the influence of fashion trends on the younger generation.

Lower Cost and Wide Industrial Use to Drive Rough Segment Expansion