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Diamond is a solid form of carbon with a cubic crystal structure. It is renowned for its vibrant physical qualities which are generated from strong covalent bonding between its atoms. The hardness of diamond and its high dispersion of light make it useful for industrial applications and desirable as jewelry. It is mostly considered as a secure investment and also a form of insurance or hedge against inflation and economic crises situations. Diamond jewelry consists of small decorative items worn for personal adornment such as rings necklaces, earrings, pendants, bracelets and cufflinks. It is precious, beautiful and magical token of love.
The U.S. is a major contributor to the global polished diamond and diamond jewelry market supported by improved consumer confidence, increased disposable income, lesser unemployment and record high stock markets. India is expected to grow at a robust growth rate during the coming five years due to its increasing middle and upper class households, which are the primary jewellery customers in India. With increasing female purchasing power, female purchases of diamond jewelry would help to spur growth of the market.
The global diamond market is expected to grow in future due to increasing disposable income, rising urbanization, increasing female population, tourism, e-commerce and weddings. Key trends of this market include increasing demand for branded jewelry, purchases of diamond jewelry for gifting, adoption of different types of diamond jewelry and femininity redefined. However, there are some factors which can hinder the market growth including development of lab grown diamonds and promotion of sustainable midstream.
The report “Global Diamond (Rough, Polished & Jewelry) Market: Industry Analysis & Outlook (2018-2022)” by Koncept Analytics provides an extensive research and detailed analysis of the present market along with future outlook. The report discusses the major growth drivers and challenges of the market, covering the U.S., India and China along with the global market. The report profiles the key players of the market including Tiffany & company, The Swatch Group, Richemont and Signet Jewelers.