Global Diamond Jewelry Market Size & Outlook

Round brilliant cut diamond was the largest segment with a revenue share of 57.74% in 2023. Horizon Databook has segmented the Global diamond jewelry market based on round brilliant cut diamond, princess cut diamond, emerald cut diamond, radiant cut diamond, cushion cut diamond, oval cut diamond, asscher cut diamond, marquise cut diamond, pear cut diamond, heart cut diamond covering the revenue growth of each sub-segment from 2018 to 2030.

The overall luxury goods industry continues to fuel the growth of the diamond jewelry market, despite challenges concerning varying economic trends. Technological innovation, growing international investment, and supply chain leadership are supporting the rising importance and popularity of luxury goods even in the non-western markets.

China is expected to lead the growth in the luxury goods market, including diamond jewelry, owing to consumers increasingly preferring high-end lifestyles. The boom in the country's online luxury retail sector, most notably in lower-tier cities, is also a factor driving this market.

This can be attributed to a massive tech-savvy population that has been turning to online retail platforms for a variety of luxury products, including jewelry. Spending on luxury goods, including jewelry, has surged among millennials in recent years. According to a report published by the Antwerp World Diamond Centre on the global diamond industry over 2021-2022.