Global diamond jewelry market value 2009-2018

In 2018, the total value of the diamond jewelry market worldwide amounted to 76 billion (nominal) U.S. dollars, an increase of two billion U.S. dollars from the previous year.

Diamond jewelry industry

Diamonds are a rare and naturally occurring mineral that are comprised of carbon. Diamonds are the hardest known substance and are also chemically resistant. They have the highest thermal conductivity of any natural material. Diamonds also have special properties that make it the world’s most popular gemstone. These properties include a high index of refraction, high dispersion, and high luster. The country with the largest diamond reserves in 2018 was Russia. That same year, diamond jewelry dominated the global jewelry market, having the highest market value of any segment.

De Beers

De Beers, headquartered in London, is the world’s largest and most successful diamond mining company. Founded in 1888 by Cecil Rhodes, it has had a dominant presence in the global diamond industry. Until the beginning of the 21st century, it had a monopoly on the diamond market. The revenue of De beers has been fluctuating since 2011, but from 2017 to 2018, their revenue increased from 5.8 billion U.S. dollars to 6.1 billion U.S. dollars. In the 20th century, De Beers embarked on a strategy to convince consumers that diamonds are the best way to effectively prove your love and commitment to a romantic partner. This spearheaded the diamond engagement ring trend. They created the famous slogan, “A Diamond is Forever”.

Diamond jewelry market value worldwide from 2009 to 2018 (in billion U.S. dollars)*

Market value in billion U.S. dollars
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Source

Release date

October 2019

Region

Worldwide

Survey time period

2009 to 2018

Supplementary notes

* Global diamond jewelry demand value.
**Figures have been restated in the 2019 edition of the report due to newly available data on the U.S. and Indian diamond markets. Figures are in nominal U.S. dollars.

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