Diamonds for sale industry report

A Brilliant Recovery Shapes Up: The Global Diamond Industry 2021–22

Across the value chain, revenues recovered in 2021 and exceeded pre-pandemic levels

Profit margins recovered in every segment. Combined, the mining and retail segments generated $7 billion more in profit compared to 2020

Rough diamond sales rebounded more than 60% in 2021, surpassing pre-pandemic levels

Rough and polished prices reached the historic average in 2021 but lagged behind industry peaks

Prices for higher-quality polished diamonds continue to outperform lower-quality diamonds

Production increased 5% in 2021 but is below pre-pandemic levels, limiting rough diamond supply

Australia was the only major diamond-producing country with a production decline in 2021, driven by the permanent closure of its only mine

Russia, Canada, and Botswana had the biggest production growth in 2021

Upstream inventories declined ~40%, driven by high demand and slow production recovery, and are near the minimal technical level

Major players almost fully recovered profitability in 2021

As Covid-19 restrictions eased, cutting and polishing activities surged 84% globally; India grew fastest at 94%

In India, net imports of rough diamonds increased 49% and net exports of polished diamonds rose 15% compared to 2019 pre-pandemic levels

In 2021, consumer discretionary spending increased, boosting personal luxury and diamond jewelry sales

The global diamond market was materially impacted by the pandemic and economic downturn in 2020 but recovered at double-digit rates in 2021

Online searches of diamond jewelry were higher than pre-pandemic levels throughout the first nine months of the year

Despite the downturn in 2020, key markets grew dramatically in 2021 and exceeded 2019 results

Vaccination programs and restrictions on experience-based goods and services helped key jewelry markets recover

In 2021, diamond jewelry outpaced most other jewelry segments, thanks to strong performances in Asia and the US

In 2021, the share of e-commerce sales continued to grow in the US and China

Large retailers experienced multiyear-high EBIT margins in H1 2021

Several new drivers will influence the diamond market in the short- to midterm

H1 2022 is expected to be strong; then two recovery scenarios are possible

Two potential scenarios for diamond demand across value chain

Players across the value chain should be prepared for short- and midterm market readjustments

To sustain demand, diamond jewelry marketing must capture more Elements of Value®

How can we help you?