The international diamond industry is estimated to be worth around $80 billion annually. This includes both rough and polished diamonds, as well as the jewelry market. The industry is divided into several segments, including:
- Rough diamonds: Sourced primarily through mining and trading, representing a significant portion of the industry’s value.
- Polished diamonds: Cut and finished diamonds sold through various channels, such as wholesalers, retailers, and auction houses.
- Diamond jewelry: Retail sales of finished jewelry containing diamonds, which constitute the largest market share in terms of consumer spending.
The market is influenced by factors like demand in key consumer markets (such as the U.S., China, and India), the availability of diamonds, and economic conditions. The growing popularity of lab-grown diamonds also plays a role in shifting dynamics within the industry.