Diamond Jewelry Market: Introduction
Transparency Market Research delivers key insights into the global diamond jewelry market. In terms of revenue, the global diamond jewelry market is estimated to expand at a CAGR of ~3% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the global diamond jewelry market.
The global market for diamond jewelry is largely affected by numerous factors, including rise in middle class population and preference for diamond jewelry to celebrate life events such as weddings and anniversaries. The rising trend of lab-grown diamond offers significant opportunities in the global diamond jewelry market.
Diamond Jewelry Market: Key Segments
The global market for diamond jewelry has been segmented based on product type, product category, clarity grade, consumer group, distribution channel, and region. Based on product type, the diamond jewelry market has been divided into neckwear/necklace, earrings, rings, bangles/bracelets, pendants, and others (nose pins, etc.). The demand for diamond rings and earrings is very high, and the trend is anticipated to continue during the forecast period, owing to the frequent launch of new products and high consumer preference. Diamond rings are widely preferred as engagement rings and wedding rings in countries such as the U.S., Canada, and the U.K.
In terms of product category, the diamond jewelry market has been divided into daily wear, work wear, and party & festive wear. The party & festive wear segment accounted for a significant market share in terms of revenue in 2019. Furthermore, the segment is estimated to record a CAGR of 3.3% during the forecast period.
Based on consumer group, the diamond jewelry market has been divided into men, women, and kids. Diamond jewelry is primarily preferred by women consumers. Diamond pendants and earrings are the popular choice of women to enhance their style statement and appearance at offices and special events such as parties and festive celebrations.
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