Diamond Statistics and Facts (2026)

Introduction

Diamond Statistics: A diamond is recognized as the toughest material on Earth and has been cherished for its good looks as a gemstone for a long time. In 2022, it was estimated that approximately 121 million carats of diamonds were mined globally. Diamonds are celebrated for their remarkable brilliance and durability, which arise from their pure carbon structure and their formation deep within the Earth’s crust.

They are classified as the hardest natural substance, achieving a perfect score of ten on the Mohs scale. The clarity of diamonds indicates the lack of internal flaws and external imperfections. Additionally, their wide spectrum of colors, ranging from colorless to vivid shades such as yellow and pink, enhances their appeal.

The cut of a diamond is vital to its brilliance and sparkle, while carat weight acts as a measure of its size and rarity. Certified by reputable laboratories like GIA or AGS, diamonds are esteemed not only for their visual charm in jewelry but also for their industrial uses, where their hardness makes them suitable for cutting tools and technological applications.

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• Approximately 80% of the diamonds extracted are utilized for industrial purposes.
• In 2023, the global revenue generated by the diamond market reached USD 101.9 billion.
• By 2026, the market is forecasted to generate USD 114.7 billion, followed by USD 118.4 billion in 2027.
• In 2010, the Diamond jewelry market experienced a strong value growth rate of 10.50%.
• In 2021, the worldwide market value of lab-grown diamonds was noted to be USD 20.3 billion.
• In 2022, the United States represented a market value of USD 47.7 billion, highlighting its significant consumer demand and purchasing capacity.
• In 2023, Russia led the diamond reserves, with an impressive total of 860 million carats.
• In 2015, the production volume was 130.4 million carats, which increased to 135.7 million carats in 2016.
• Russia topped global production with 39.1 million carats, an increase from 31.2 million carats in 2020.
• In 2022, India emerged as the foremost importer, with diamond imports valued at USD 27.3 billion, which constituted 21.60% of the total diamond imports.
• In January 2022, the average price stood at USD 221.6 per carat, which rose to USD 231.1 per carat by April 2022.

General Diamond Statistics

• The term “Diamond” is derived from the Greek word “Adamas,” which translates to “unconquerable and indestructible,” a fitting designation for the hardest natural material found on our planet.
• Approximately 80% of the diamonds extracted are utilized for industrial purposes.
• Diamonds are formed around 200 kilometers beneath the Earth’s surface and are propelled to the surface almost instantaneously through volcanic eruptions.
• In 2023, the global revenue generated by the diamond market reached USD 101.9 billion.
• By the year 2032, it is anticipated that the market will expand to USD 140.1 billion, with natural diamonds contributing USD 86.86 billion and synthetic diamonds accounting for USD 53.24 billion.
• The jewelry and ornaments sector predominantly drives the global diamond market, commanding a substantial market share of 65%.
• In 2022, the market value of diamond jewelry globally was significantly led by the United States, which represented USD 47.7 billion, highlighting its considerable consumer demand and purchasing power.
• As of 2023, Russia holds the top position in the world for diamond reserves, with an impressive 860 million carats.
• In 2022, India emerged as the leader in the global diamond export market, achieving an export value of USD 26.1 billion, which constitutes 21.20% of total diamond exports.
• As of January 2024, the average price for each carat was USD 213.6, which saw a minor decrease to USD 209.2 by April 2024.

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Lab-Grown Diamond Statistics

• In 2021, the worldwide market value of lab-grown diamonds was noted to be USD 20.3 billion.
• This sector is anticipated to experience significant growth, with projections suggesting that by 2030, the market value will attain USD 51.9 billion.

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Diamond Market Growth Statistics

• The global diamond market has shown steady growth over the years, achieving a compound annual growth rate (CAGR) of 3.70%. Revenues have increased from USD 98.3 billion in 2022 to USD 101.9 billion in 2023.
• This positive trend is expected to persist, with projected revenues anticipated to reach USD 105.2 billion in 2024 and further rise to USD 110.1 billion in 2025.
• By 2026, the market is forecasted to generate USD 114.7 billion, followed by USD 118.4 billion in 2027.
• The pattern of consistent growth continues, with predictions suggesting revenues of USD 121.1 billion in 2028 and USD 125.6 billion in 2029.
• Looking ahead to the next decade, the market is expected to achieve revenues of USD 129.7 billion in 2030, USD 134.5 billion in 2031, and a remarkable USD 140.1 billion by 2032.

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Growth Statistics of Diamond Jewelry Market

• In 2010, the market experienced a strong value growth rate of 10.50%.
• This was succeeded by a moderate rise of 4.90% in 2011 and a more restrained growth of 3.20% in 2012.
• The growth rate saw a slight improvement to 3.40% in 2013 but then fell to 2.80% in 2014.
• In 2015, the market encountered a contraction with a negative growth rate of -1.70%, and in 2016, it remained stagnant with a 0% growth rate.
• Nevertheless, the market made a recovery in 2017 with a 3.30% increase, followed by a 2.80% growth in 2018.
• The growth rate decelerated to 0.70% in 2019.
• The year 2020 witnessed a significant downturn, as the market faced a sharp decline of -14% due to the effects of the global pandemic.
• A substantial recovery took place in 2021, showcasing a remarkable growth rate of 27%.
• However, in 2022, the market encountered a slight decline of -0.30%.

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Diamond Jewelry by Country Statistics

• In 2022, the United States represented a market value of USD 47.7 billion, highlighting its significant consumer demand and purchasing capacity.
• China ranked second with a market value of USD 8.8 billion, demonstrating its considerable impact on the worldwide diamond jewelry market.
• India, deeply connected to diamonds through its rich cultural heritage, contributed USD 5 billion.
• Japan’s market capitalization attained USD 4.7 billion, whereas the Gulf region is responsible for USD 3.1 billion, propelled by its luxury market sector.
• The remaining global regions together constituted a market value of USD 17.2 billion.

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Reserves by Country of Diamond Statistics

• In 2023, Russia led the diamond reserves, with an impressive total of 860 million carats.
• Following closely was Botswana, which possessed significant reserves of 280 million carats, highlighting its crucial position in the international diamond sector.
• Both Angola and the Democratic Republic of Congo each maintained considerable reserves of 150 million carats.
• South Africa, another important participant in the diamond market, reported reserves totaling 95 million carats.
• Additionally, other nations together represented 120 million carats in diamond reserves.

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Diamond Production Statistics

• In 2015, the production volume was 130.4 million carats, which increased to 135.7 million carats in 2016.
• The peak production occurred in 2017, showing a notable rise to 152.1 million carats.
• However, this was followed by a reduction to 148.9 million carats in 2018 and a further decline to 141.5 million carats in 2019.
• The downward trend continued into 2020, with production decreasing to 138.6 million carats and reaching 131.4 million carats in 2021.
• A slight recovery was observed in 2022, with a production volume of 133.4 million carats.
• Nonetheless, forecasts indicate a decline in the subsequent years, with production expected to fall to 129.8 million carats in 2023, 128.9 million carats in 2024, and further down to 124.6 million carats by 2025.

Diamond Production by Country Statistics

• Russia topped global production with 39.1 million carats, an increase from 31.2 million carats in 2020.
• Botswana ranked second, generating 22.9 million carats in 2021, a notable rise from 16.9 million carats the year before.
• Canada experienced a notable increase, generating 17.6 million carats in 2021, in contrast to 13.1 million carats in 2020.
• The Democratic Republic of Congo (DR Congo) experienced growth in production, rising from 12.7 million carats in 2020 to 14.1 million carats in 2021.
• South Africa’s output reached 9.7 million carats in 2021, up from 8.5 million carats in 2020.
• Angola’s production increased from 7.7 million carats in 2020 to 8.7 million carats in 2021.
• Zimbabwe’s output more than doubled, climbing from 2.7 million carats in 2020 to 4.2 million carats in 2021.
• Namibia experienced a slight increase from 1.5 million carats in 2020 to 1.8 million carats in 2021.
• Sierra Leone’s production also grew from 0.6 million carats in 2020 to 0.8 million carats in 2021.
• In contrast, Lesotho faced a minor decline, with production falling from 0.5 million carats in 2020 to 0.3 million carats in 2021.

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Import & Export of Diamond Statistics

Import

• In 2022, India emerged as the foremost importer, with diamond imports valued at USD 27.3 billion, which constituted 21.60% of the total diamond imports.
• The United States closely followed, with imports amounting to USD 23.7 billion, representing 18.80%.
• Hong Kong’s diamond imports were worth USD 15.7 billion, contributing 12.50% to the global import market.
• The United Arab Emirates recorded an import value of USD 13.3 billion, accounting for 10.50%, while Belgium’s diamond imports reached USD 12.8 billion, or 10.20%.
• China’s diamond imports were valued at USD 8.5 billion, which equated to 6.70% of the total imports.
• Israel’s imports amounted to USD 5.9 billion, accounting for 4.70%. Following this, Switzerland recorded imports of USD 2.4 billion (1.90%), while Thailand’s imports were USD 2.3 billion (1.90%).
• Botswana’s imports were assessed at USD 2.2 billion, constituting 1.70% of the market.
• The United Kingdom imported diamonds worth USD 1.6 billion, contributing 1.30%, while Singapore’s imports totaled USD 1.5 billion, or 1.20%.
• France and Italy reported diamond import values of USD 1.1 billion (0.90%) and USD 0.97 billion (0.80%), respectively.
• South Africa completed the list with diamond imports valued at USD 0.84 billion, accounting for 0.70% of the global market.

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Export

• In 2022, India dominated the global diamond export market with an export value of USD 26.1 billion, which accounted for 21.20% of total diamond exports.
• The United States followed closely with exports valued at USD 20.3 billion, representing 16.50%.
• The United Arab Emirates contributed to the global market with diamond exports worth USD 17.5 billion, making up 14.20%.
• Hong Kong’s diamond exports reached USD 14.3 billion, constituting 11.60%, while Belgium’s exports were valued at USD 13.4 billion, or 10.90%.
• Israel’s diamond exports amounted to USD 7.9 billion, representing 5.93%, followed by China, which had exports totaling USD 3.61 billion, equating to 3.61% of the market.
• The value of diamond exports from Switzerland reached USD 2.7 billion, representing 2.20% of the total, while Thailand’s diamond exports amounted to USD 2.4 billion, which corresponds to 1.95%.
• Botswana’s exports were calculated at USD 2.1 billion, making up 1.73% of the market.
• Singapore’s diamonds were valued at USD 1.92 billion, representing 1.56%, while the United Kingdom’s exports totaled USD 1.79 billion, or 1.46%.
• South Africa and Italy completed the list with diamond export values of USD 0.6 billion (0.49%) and USD 0.95 billion (0.77%), respectively.

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Diamond Price Statistics

• In January 2022, the average price stood at USD 221.6 per carat, which rose to USD 231.1 per carat by April 2022.
• By September 2022, the price had seen a slight decrease to USD 227 per carat; however, a significant rise occurred, culminating in a price of USD 255 per carat by December 2022.
• However, in January 2023, the average price fell to USD 217.3 per carat and continued to decrease to USD 207.9 per carat by April 2023.
• In September 2023, the price saw a slight recovery to USD 213.8 per carat and remained at a comparable level of USD 214.1 per carat in December 2023.
• As of January 2024, USD 213.6 was the price per carat, with a minor reduction to USD 209.2 by April 2024.

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Diamond Sales Statistics

• The projected nominal sales of jewelry that includes natural diamonds are estimated to attain USD 72 billion, indicating their sustained dominance and lasting allure in the marketplace.
• Lab-grown diamonds are likewise forecasted to achieve considerable sales, with nominal sales expected to be USD 11 billion.
• Furthermore, the market for lab-grown diamonds is anticipated to witness a gradual sales increase of USD 7 billion.

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Spending on Diamond Products

• In 2021, the average spending on diamond engagement rings increased to $7,011, representing a 6.1% rise compared to the prior year.
• Lab-grown diamond rings share grew from 19% to more than 24% from 2020 to 2021.
• The average cost of a lab-grown diamond engagement ring grew from $4,037 to $4,383, reflecting an 8.6% increase.
• Spending on natural diamond engagement rings also saw an increase, rising from an average of $7,197 in 2020 to $8,053 in 2021, indicating a growth of almost 12%.
• The majority of rings are designed with diamond center stones that weigh between 1.0 and 1.5 carats, and the average size of these stones has risen from 1.20 carats in 2020 to 1.32 carats in 2021.
• The highest average spending on engagement rings was observed in the Mid-Atlantic region at $9,343, while the lowest was recorded in the West North Central region, averaging $3,831.

Recent Developments

• Richemont’s jewelry brands, such as Cartier and Van Cleef & Arpels, experienced a 14% increase in 2025, fueled by robust demand for diamond collections like Panthère and Cadenas. The jewelry sector demonstrated resilience despite a general slowdown in the luxury market, driven by its enduring appeal and rich brand heritage.
• In May 2024, De Beers launched a diamond verification tool for retail counters, incorporating advanced technology for detecting synthetic diamonds, which allows for the identification of natural diamonds as opposed to lab-grown ones. This innovation enhances consumer confidence by guaranteeing authenticity at the point of sale for both loose and set diamonds.
• In September 2023, Fred, LVMH brand, and the Parisian jeweller introduced a limited-edition collection that features exquisite blue lab-grown diamonds alongside natural diamonds, providing a distinctive and exclusive selection for discerning clientele.

Conclusion

The global diamond market is witnessing significant growth, fueled by rising demand, especially from millennials, who represent a major segment of consumers. This increase is further supported by the growth of online sales of diamond jewelry, which offers considerable market potential.

The natural hardness of diamonds continues to promote their application in various sectors, particularly in abrasives used for tools like drill bits, grinding wheels, and saw blades. These tools play a crucial role in cutting, drilling, and grinding hard materials such as glass, bricks, and concrete, thereby contributing to the strong expansion of the construction industry.

Market participants are ramping up their investments to take advantage of this growing market, with the goal of diversifying their customer base and improving market penetration.

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