According to a new market report published by Lucintel, the future of the global diamond market looks promising with opportunities in the jewelry and industrial segments. The global diamond market is expected to grow with a CAGR of 4% from 2021 to 2026. The major drivers for this market are raising demand from jewelry applications, growing consumer demand for high quality products, and increasing number of applications for industrial grade.
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In this market, natural and synthetic are the major products used to manufacture diamonds. On the basis of comprehensive research, Lucintel forecasts that natural products will remain the largest segment, and it is also expected to witness the highest growth over the forecast period because natural diamonds are rare and they are mainly used for jewelry applications. Finding and processing them involve complex processes, which makes them expensive in the jewelry industry.
Within the global diamond market, the jewelry segment is expected to witness the highest growth over the forecast period due to the growing middle-class population coupled with increasing spending power of millennials and generation Z.
North America is expected to remain the largest market and witness the highest growth over the forecast period due to the strong demand for engagement rings in the US.
Emerging trends, which have a direct impact on the dynamics of the industry, include increasing digitization, technological advancements and focus on high wear resistance. De Beers Group, ALROSA, Rio Tinto, Tiffany, Titan, and Tribhovandas Bhimji Zaveri are among the major suppliers of the diamond market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global diamond market by product, application, and region, has compiled a comprehensive research report titled “Growth Opportunities in the Global Diamond Market 2021-2026: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global diamond market by product, application, and region, as follows:
By Product [Value ($ Million) from 2015 to 2026]:
By Application [Value ($ Million) from 2015 to 2026]:
By Region [Value ($ Million) from 2015 to 2026]:
North America
United States
Canada
Mexico
Europe
APAC
ROW
This more than 150 page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.