North America Diamond Market (2025-2031) | Growth, Industry, Analysis, Forecast, Trends, Size, Outlook, Companies, Value, Revenue & Share

North America Diamond Market Highlights

Report Name	North America Diamond Market
Forecast Period	2025-2031
Market Size	USD 129.53 billion
CAGR	6%
Growing Sector	Synthetic Diamonds

Topics Covered in North America Diamond Market Report

The North America Diamond Market report provides a comprehensive evaluation by types, application segments, The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

North America Diamond Market Size Analysis

North America Diamond Market was valued at USD 101.03 billion and is expected to reach USD 129.53 billion , growing at a CAGR of around 6% from 2025-2031.The market's growth is largely driven by high disposable incomes and the extensive use of diamonds in wedding jewelry. The U.S. is a key player, individually accounting for more than half of the global demand. Additionally, the influence of social media and celebrities is encouraging younger consumers to invest in diamond jewelry, further fueling market expansion​

The industrial segment of the diamond market is also witnessing steady growth due to the increasing use of diamonds in industrial applications such as cutting, drilling, and electronics. Canada, in particular, is emerging as a key market in the region, with notable diamond production and exploration activities. Leading companies in the industry, including De Beers, Rio Tinto, and Arctic Canadian Diamond Company, continue to strengthen their market presence through strategic expansions and acquisitions.

North America Diamond Market Market Synopsis

The North America Diamond Market is experiencing significant growth due to the increasing demand for both natural and synthetic diamonds in various applications. Key trends include advancements in synthetic diamond production technologies and a rising preference for eco-friendly and ethically sourced diamonds. Market drivers encompass the growing use of diamonds in industrial applications and the robust demand for diamond jewelry. However, challenges such as high production costs and stringent regulatory standards persist. 

According to 6Wresearch, the North America Diamond Market is projected to expand at a CAGR of 6.0% during the forecast period from 2025-2031.

The principal drivers of the North America Diamond Market include the surging demand for synthetic diamonds, attributed to their affordability and eco-friendly production methods. Technological advancements in diamond synthesis have resulted in higher quality and more affordable synthetic diamonds, boosting their market acceptance. Additionally, the increasing need for diamonds in industrial applications, such as cutting, grinding, and drilling, significantly contributes to market growth. Moreover, the rise in consumer preference for ethically sourced and sustainable diamonds has further propelled market demand.

The North America Diamond Market faces several challenges, primarily the high costs associated with the production of high-quality synthetic diamonds, which can limit their adoption. Additionally, stringent regulatory norms related to diamond mining and trading impose significant compliance costs on market participants. The market also contends with fluctuating raw material prices and the economic factors influencing consumer spending on luxury goods. Moreover, maintaining consumer trust in the authenticity and ethical sourcing of natural diamonds remains a critical challenge for the industry.

North America Diamond Market Leading Players

Leading players in the North America Diamond Market include prominent companies like De Beers Group, ALROSA, Rio Tinto, and Lucara Diamond. These organizations are recognized for their extensive product portfolios, innovative diamond technologies, and strong distribution networks. Their significant market presence and strategic collaborations with jewelry brands and industrial manufacturers position them as key contributors to the evolving diamond market landscape.

North America Diamond Market Government Initiatives

Government initiatives such as the Clean Diamond Trade Act (CDTA) and the Kimberley Process Certification Scheme (KPCS) play a crucial role in the North America Diamond Market by ensuring the ethical sourcing and trading of diamonds. Additionally, financial incentives and research grants from bodies like the National Science Foundation (NSF) support advancements in diamond synthesis and applications. These initiatives underscore the importance of maintaining high ethical and quality standards in the diamond industry, thereby fostering market growth.

Future Insights of the Market

The future outlook for the North America Diamond Market appears promising, driven by ongoing technological advancements in synthetic diamond production and the growing emphasis on sustainable and ethical sourcing. Opportunities abound in developing cost-effective and high-quality synthetic diamonds and expanding market applications in electronics and medical devices. However, challenges such as regulatory compliance and maintaining market trust in diamond authenticity will require strategic investments and innovation from industry stakeholders. Anticipated expansions in digital innovation and eco-friendly practices are set to enhance market growth.

Market Segmentation By Countries

According to Ravi Bhandari, Research Head, 6Wresearch, In the North America Diamond Market, the United States is witnessing significant growth due to the country's substantial demand for both natural and synthetic diamonds. The robust consumer market, characterized by a high disposable income and a strong preference for luxury goods, drives the demand for diamond jewelry. Additionally, the United States is a key hub for industrial diamond applications, with advancements in technologies such as cutting, drilling, and grinding further fueling market growth. The country's regulatory framework, focusing on the ethical sourcing and trading of diamonds, supports this upward trajectory.

Market Segmentation By Product

The synthetic diamond segment in the North America Diamond Market is rapidly growing, driven by technological advancements and a rising preference for sustainable and ethically produced diamonds. Synthetic diamonds offer affordability and high quality, making them increasingly popular among both consumers and industrial users. The advancements in diamond synthesis technologies have resulted in significant reductions in production costs, further boosting market acceptance. The eco-friendly nature of synthetic diamonds, combined with their versatile applications in electronics, medical devices, and jewelry, positions this segment for robust growth during the forecast period.

Market Segmentation By Application

Jewelry remains the dominant application segment driving growth in the North America Diamond Market. The rising consumer preference for diamond-studded jewelry, buoyed by increasing disposable incomes and the cultural significance of diamonds in celebrations and milestones, underscores this trend. Additionally, the shift towards ethically sourced and sustainable diamonds, including both natural and synthetic varieties, has bolstered market demand. Innovations in diamond cutting and design techniques also contribute to the popularity of diamond jewelry, making it a significant growth segment in the market.

Key Attractiveness of the Report

• 10 Years Market Numbers.
• Historical Data Starting from 2021 to 2024.
• Base Year 2024.
• Forecast Data until 2031.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• North America Diamond Market Outlook
• Market Size of North America Diamond Market, 2024
• Forecast of North America Diamond Market, 2031
• Historical Data and Forecast of North America Diamond Revenues & Volume for the Period 2021 - 2031
• North America Diamond Market Trend Evolution
• North America Diamond Market Drivers and Challenges
• North America Diamond Price Trends
• North America Diamond Porter's Five Forces
• North America Diamond Industry Life Cycle
• Historical Data and Forecast of North America Diamond Market Revenues & Volume By Product for the Period 2021 - 2031
• Historical Data and Forecast of North America Diamond Market Revenues & Volume By Natural for the Period 2021 - 2031
• Historical Data and Forecast of North America Diamond Market Revenues & Volume By Synthetic for the Period 2021 - 2031
• Historical Data and Forecast of United States Diamond Market Revenues & Volume By Product for the Period 2021 - 2031
• Historical Data and Forecast of United States Diamond Market Revenues & Volume By Natural for the Period 2021 - 2031
• Historical Data and Forecast of United States Diamond Market Revenues & Volume By Synthetic for the Period 2021 - 2031
• Historical Data and Forecast of Canada Diamond Market Revenues & Volume By Product for the Period 2021 - 2031
• Historical Data and Forecast of Canada Diamond Market Revenues & Volume By Natural for the Period 2021 - 2031
• Historical Data and Forecast of Canada Diamond Market Revenues & Volume By Synthetic for the Period 2021 - 2031
• Historical Data and Forecast of North America Diamond Market Revenues & Volume By Application for the Period 2021 - 2031
• Historical Data and Forecast of North America Diamond Market Revenues & Volume By Jewelry for the Period 2021 - 2031
• Historical Data and Forecast of North America Diamond Market Revenues & Volume By Industrial for the Period 2021 - 2031
• Historical Data and Forecast of United States Diamond Market Revenues & Volume By Application for the Period 2021 - 2031
• Historical Data and Forecast of United States Diamond Market Revenues & Volume By Jewelry for the Period 2021 - 2031
• Historical Data and Forecast of United States Diamond Market Revenues & Volume By Industrial for the Period 2021 - 2031
• Historical Data and Forecast of Canada Diamond Market Revenues & Volume By Application for the Period 2021 - 2031
• Historical Data and Forecast of Canada Diamond Market Revenues & Volume By Jewelry for the Period 2021 - 2031
• Historical Data and Forecast of Canada Diamond Market Revenues & Volume By Industrial for the Period 2021 - 2031
• North America Diamond Market - Key Performance Indicators
• North America Diamond Market - Import Export Trade Statistics
• North America Diamond Market - Opportunity Assessment By Countries
• North America Diamond Market - Opportunity Assessment By Product
• North America Diamond Market - Opportunity Assessment By Application
• North America Diamond Market - Top Companies Market Share
• North America Diamond Market - Top Companies Profiles
• North America Diamond Market - Comparison of Players in Technical and Operating Parameters
• North America Diamond Market - Strategic Recommendations

Market Covered

The report offers a comprehensive study of the following market segments

By Countries

• United States
• Canada

By Product

• Natural
• Synthetic

By Application

• Jewelry
• Industrial