After several dynamic years that have seen the rise of LGDs, Covid-19, and the sharp boom as pandemic restrictions eased, the diamond industry now faces a critical moment. Macroeconomic fundamentals—income, wealth, and disposable income—and emerging middle-class growth are important.
But unlike most non-luxury commodities, desirability is key to the long-term industry outlook. Demand, underpinned by some of the world’s most recognizable historical marketing campaigns, faces recent challenges. The industry structure is changing. Yet through analysis of the supply and demand fundamentals, one can see a positive outlook for the industry.
New natural diamond supply remains limited. The industry has an opportunity-unique among mined products-to catalyze industry participants across the value chain to continue to restore the attractiveness of natural diamonds and stimulate new demand in new demographics, growing emerging markets, and new purchase occasions.
India is forecasted to experience robust demand growth of approximately 5 to 8% CAGR through 2033. The growth will be underpinned by rising disposable incomes, a strong jewelry demand, expanded retailer operations, and a further building of desirability for diamond jewelry catalyzed by the diamond jewelry industry.
This is a unique characteristic of the natural diamond industry. And it is a uniquely important point in time for the industry to collectively set a clear strategic direction to benefit from this. This is said in the recently published diamond report.
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Shaping India’s $100 Billion Gems & Jewellery Future
At the Chintan Shivir on the 2040 Roadmap, Commerce Secretary Shri Rajesh Agrawal outlined a vision to grow India’s gems & jewellery sector from ~$29B to $100B, driven by innovation, technology, design, global branding.
Heera Zhaveraat (HZ International) A Diamond, Watch and Jewellery Trade Promotion Magazine provide dealers and manufactures with the key analytical information they need to succeed in the luxury industry. Pricing, availability and market information in the Magazine provides a critical edge.
