Synthetic Diamond Market for Jewelry - A Global and Regional Analysis: Focus on Application, Product, and Region - Analysis and Forecast, 2023-2030
Global Synthetic Diamond Market for Jewelry Overview The global synthetic diamond market for jewelry is projected to reach $21,779.8 million by 2030 from $13,026.5 million in 2023, growing at a ... もっと見る
SummaryGlobal Synthetic Diamond Market for Jewelry OverviewThe global synthetic diamond market for jewelry is projected to reach $21,779.8 million by 2030 from $13,026.5 million in 2023, growing at a CAGR of 7.62% during the forecast period 2023-2030. The synthetic diamond market for jewelry is witnessing substantial growth, buoyed by several factors. Breakthroughs in production technology allow for the creation of synthetic diamonds that mirror natural ones, driving market expansion. Ethical and environmental concerns surrounding traditional diamond mining practices enhance the allure of synthetic diamonds, appealing to eco-conscious consumers. Additionally, synthetic diamonds offer cost competitiveness compared to natural ones, attracting price-conscious buyers without compromising quality or aesthetics. This combination of factors drives the synthetic diamond market forward, establishing it as a compelling alternative in the jewelry sector. Furthermore, ongoing innovations in manufacturing processes present significant market opportunities, promising further improvements in production efficiency, quality, and cost-effectiveness. As demand rises and technological capabilities advance, the market continues to flourish, embracing sustainable manufacturing practices and reinforcing its growth trajectory in alignment with global sustainability goals. Introduction to Synthetic Diamond for Jewelry Synthetic diamonds for jewelry are gemstones crafted in laboratories to mimic the chemical composition, crystal structure, and optical characteristics of natural diamonds. Synthetic diamonds are manufactured using sophisticated technological methods and provide an ethical and environmentally sustainable option compared to mined diamonds. These diamonds are precisely engineered to showcase outstanding clarity, color, and brilliance, rendering them virtually identical to natural diamonds to the unaided eye. Market Introduction The synthetic diamond market is currently experiencing robust growth, driven by increasing consumer awareness and demand for ethically and environmentally responsible products. This surge in interest is amplified by the ongoing global dialogue around sustainability, which is influencing purchasing decisions across various sectors, including luxury goods such as jewelry. The market's growth is further supported by continuous advancements in manufacturing technologies that enhance the quality and decrease the production costs of synthetic diamonds. This technological progression is expected to keep driving the market forward, increasing its competitiveness against traditional diamond products. However, cultural and consumer preferences for natural diamonds remain a challenge, as some segments of the market perceive them as superior or more prestigious. Additionally, concerns regarding the resale value of synthetic diamonds persist, further hindering their widespread acceptance. Despite these obstacles, the synthetic diamond market for jewelry is poised for growth, driven by its ethical and cost advantages, as well as ongoing efforts to address consumer perceptions and market dynamics. Industrial Impact The industrial impact of synthetic diamonds in the jewelry sector is profound and far-reaching. As ethical and environmental concerns regarding traditional diamond mining practices escalate, synthetic diamonds offer a sustainable and socially responsible alternative. Their production processes, facilitated by advanced technology, mitigate the adverse environmental effects associated with mining while ensuring consistent quality and purity. Moreover, the cost competitiveness of synthetic diamonds compared to natural ones enhances their appeal to both consumers and industry players alike. This affordability expands market accessibility and drives market growth, positioning synthetic diamonds as a viable and attractive option in the jewelry industry. Furthermore, the industrial adoption of synthetic diamonds underscores a shift toward sustainable manufacturing practices, aligning with broader corporate social responsibility initiatives and fostering a positive brand reputation. As such, the industrial impact of synthetic diamonds in the jewelry sector extends beyond mere market dynamics to encompass environmental stewardship and ethical business practices. Market Segmentation Segmentation 1: Application • Jewelry Synthetic diamonds find extensive application in jewelry, offering a sustainable and ethical alternative to mined diamonds. These lab-grown gems possess identical properties to natural diamonds, including exceptional clarity, color, and brilliance. Popularly used in engagement rings, earrings, necklaces, and bracelets, synthetic diamonds provide consumers with affordable luxury without compromising on quality or aesthetics. As environmental and ethical concerns drive demand for sustainable options, synthetic diamonds continue to gain traction in the jewelry market, offering a compelling choice for discerning consumers. Segmentation 2: (by Type) • High-Pressure High-Temperature (HPHT) • Chemical Vapor Deposition (CVD) Chemical Vapor Deposition (CVD) to Lead the Market (by Type) The synthetic diamond market for jewelry is undergoing significant change, driven by the rise of the chemical vapor deposition (CVD) process. As intricate jewelry designs gain popularity, there's a rising demand for diamonds with precise attributes. The CVD process, renowned for its ability to create tailored diamonds, meets this demand effectively, making it the preferred choice for manufacturers. Moreover, consumer preferences for ethically sourced and eco-friendly diamonds further enhance the prominence of the CVD method. Its superior control over diamond quality and characteristics positions it as a leading force in shaping the synthetic diamond market for jewelry. Segmentation 3: (by Carat Size) • 0.05-0.10 Carats • 0.20-0.50 Carats • 0.50-0.70 Carats • 0.90-1.00 Carats • 1.00-1.50 Carats • 1.75-2.00 Carats • 2.00-3.00 Carats 0.90-1.00 Carats to Hold the Largest Share in the Market (by Carat Size) In the synthetic diamond market for jewelry, the 0.90-1.00 carat range dominates due to its ideal balance of size and affordability. These diamonds offer significant visual impact without the premium price of larger stones, making them popular for engagement rings and other statement jewelry. They meet a critical price point, attracting a broad consumer base seeking value and elegance. Additionally, their popularity benefits from economies of scale in production, allowing manufacturers to efficiently produce high-quality gems that meet consumer expectations for brilliance and budget. Segmentation 4: (by Region) • North America • Europe • Asia-Pacific • Rest-of-the-World Asia-Pacific Region to Lead the Market (by Region) The Asia-Pacific region leads the synthetic diamond market for jewelry, driven by major economies such as China, India, and Japan. These countries excel in both production and consumption due to their strong manufacturing capabilities and large consumer bases. Cost-effective manufacturing and skilled labor ensure competitive pricing for high-quality synthetic diamonds. Additionally, the cultural importance of jewelry in weddings and celebrations sustains demand, while rising middle-class incomes expand the market's reach and popularity among consumers. Demand – Drivers, Restraints, and Opportunities Market Demand Driver - Ethical and Environmental Concerns Regarding Natural Diamond Mining Ethical and environmental concerns linked to natural diamond mining are driving shifts in consumer preferences and industry dynamics within the synthetic diamond market for jewelry. Concerns over the negative impacts of traditional mining methods, such as habitat destruction and human rights abuses, are prompting consumers to seek more sustainable options. Natural diamond extraction often involves destructive practices such as open-pit mining, leading to habitat loss and environmental degradation. Moreover, issues such as forced labor and unsafe working conditions in diamond mining regions raise ethical red flags. These concerns have spurred demands for greater transparency and accountability in the industry. Synthetic diamonds, crafted in controlled lab environments using eco-friendly processes, offer a transparent and traceable supply chain, circumventing the ethical and environmental challenges of traditional mining. Increasingly, socially conscious consumers are opting for synthetic diamonds, prioritizing sustainability and ethical sourcing in their jewelry purchases. Market Restraint - Cultural and Consumer Preference for Natural Diamonds Cultural and consumer preferences for natural diamonds present a significant obstacle in the synthetic diamond market for jewelry. Natural diamonds hold deep cultural significance, symbolizing love, commitment, and status, making it challenging for synthetic diamonds to gain traction. Consumer preference for natural diamonds is influenced by historical associations and marketing campaigns that emphasize their rarity and exclusivity. Despite advancements in synthetic diamond technology, some consumers still perceive synthetic diamonds as inferior. Traditional bridal customs further reinforce the preference for natural diamonds, particularly in engagement rings. Overcoming these entrenched beliefs will require efforts from synthetic diamond stakeholders to educate consumers about the ethical and environmental benefits of synthetic diamonds. Market Opportunity - Innovations and Developments of New Manufacturing Processes In the ever-evolving synthetic diamond market for jewelry, advancements in manufacturing processes drive innovation and growth opportunities. One such innovation is the microwave plasma chemical vapor deposition (MPCVD) method, which employs microwaves to create a plasma containing carbon for diamond growth. This technique enables faster and more precise diamond synthesis, resulting in high-quality gems with exceptional clarity and brilliance. Another promising development is the ultrasonic cavitation-based method, which uses ultrasonic waves to convert carbon into diamond crystals. This approach is ideal for producing small, precision-cut diamonds that meet industry standards. Additionally, the laser-assisted method utilizes lasers to heat carbon sources and create diamonds with specific shapes and sizes. This precise technique allows for customized diamond configurations tailored to designer and consumer preferences, showcasing craftsmanship and attention to detail. How can this report add value to an organization? Product/Innovation Strategy: This report presents a detailed product and innovation strategy for the synthetic diamond market for jewelry, pinpointing avenues for market penetration, technological integration, and sustainable expansion. It delivers actionable recommendations to empower businesses in harnessing synthetic diamond technology, ensuring compliance with ethical standards, gaining competitive advantages, and capitalizing on the rising demand for sustainable luxury solutions across diverse consumer segments. Growth/Marketing Strategy: This report offers a comprehensive growth and marketing strategy designed specifically for the synthetic diamond market for jewelry. It presents a targeted approach to identifying specialized market segments, establishing a competitive advantage, and implementing creative marketing initiatives aimed at optimizing market share and financial performance. By harnessing these strategic recommendations, organizations can elevate their market presence, seize emerging prospects, and efficiently propel revenue expansion. Competitive Strategy: This report crafts a strong competitive strategy tailored to the synthetic diamond market for jewelry. It evaluates market rivals, suggests methods to stand out, and offers guidance for maintaining a competitive edge. By adhering to these strategic directives, companies can position themselves effectively in the face of market competition, ensuring sustained prosperity and profitability. Research Methodology Factors for Data Prediction and Modeling • The scope of this report focuses on several types of synthetic diamonds used for jewelry application and their products. • The base currency considered for the market analysis is US$. Currencies other than the US$ have been converted to the US$ for all statistical calculations, considering the average conversion rate for that particular year. • The currency conversion rate has been taken from the historical exchange rate of the Oanda website. • Nearly all the recent developments from January 2021 to April 2024 have been considered in this research study. • The information rendered in the report is a result of in-depth primary interviews, surveys, and secondary analysis. • Where relevant information was not available, proxy indicators and extrapolation were employed. • Any economic downturn in the future has not been taken into consideration for the market estimation and forecast. • Technologies currently used are expected to persist through the forecast with no major technological breakthroughs. Market Estimation and Forecast This research study involves the usage of extensive secondary sources, such as certified publications, articles from recognized authors, white papers, annual reports of companies, directories, and major databases to collect useful and effective information for an extensive, technical, market-oriented, and commercial study of the global synthetic diamond market for jewelry. The process of market engineering involves the calculation of the market statistics, market size estimation, market forecast, market crackdown, and data triangulation (the methodology for such quantitative data processes is explained in further sections). The primary research study has been undertaken to gather information and validate the market numbers for segmentation types and industry trends of the key players in the market. Primary Research The primary sources involve industry experts from the synthetic diamond market for jewelry and various stakeholders in the ecosystem. Respondents such as CEOs, vice presidents, marketing directors, and technology and innovation directors have been interviewed to obtain and verify both qualitative and quantitative aspects of this research study. The key data points taken from primary sources include: • validation and triangulation of all the numbers and graphs • validation of reports segmentation and key qualitative findings • understanding the competitive landscape • validation of the numbers of various markets for market type • percentage split of individual markets for geographical analysis Secondary Research This research study of the synthetic diamond market for jewelry involves the usage of extensive secondary research, directories, company websites, and annual reports. It also makes use of databases, such as ITU, Hoovers, Bloomberg, Businessweek, and Factiva, to collect useful and effective information for an extensive, technical, market-oriented, and commercial study of the global market. Secondary research was done in order to obtain crucial information about the industry’s value chain, revenue models, the market’s monetary chain, the total pool of key players, and the current and potential use cases and applications. The key data points taken from secondary research include: • segmentations and percentage shares • data for market value • key industry trends of the top players of the market • qualitative insights into various aspects of the market, key trends, and emerging areas of innovation • quantitative data for mathematical and statistical calculations Table of ContentsExecutive SummaryScope and Definition 1 Markets 1.1 Trends: Current and Future Impact Assessment 1.1.1 Trends: Current and Future Impact Assessment 1.1.1.1 Evolving Consumer Preferences, Increasing Awareness within the Industry, and Rising Luxury Jewelry Demand 1.1.1.2 Increasing Growth of Beauty and Fashion Industry, Especially among Gen Z Consumers 1.2 Supply Chain Overview 1.2.1 Value Chain Analysis 1.2.2 Pricing Forecast 1.2.3 Market Map 1.2.3.1 Global Synthetic Diamond Market (by Type) 1.2.3.1.1 High-Pressure High-Temperature (HPHT) 1.2.3.1.2 Chemical Vapor Deposition (CVD) 1.3 Research and Development Review 1.3.1 Patent Filing Trend (by Country and Company) 1.3.2 Regulatory Landscape 1.3.3 Stakeholder Analysis 1.3.3.1 Raw Material Suppliers 1.3.3.2 Synthetic Diamond Manufacturers 1.3.3.3 Jewelry Industry 1.3.3.4 Government and Regulatory Bodies 1.3.3.5 Consumers 1.3.3.6 Investors and Financial Institutions 1.3.3.7 Environmental and Ethical Advocates 1.4 Market Dynamics: Overview 1.4.1 Market Drivers 1.4.1.1 Technological Innovations in Production and a Virtually Infinite Supply 1.4.1.2 Ethical and Environmental Concerns Regarding Natural Diamond Mining 1.4.1.3 Cost Competitiveness Compared to Natural Diamonds 1.4.2 Market Restraints 1.4.2.1 Cultural and Consumer Preference for Natural Diamonds 1.4.2.2 Concerns Regarding Resale Value 1.4.3 Market Opportunities 1.4.3.1 Innovations and Developments of New Manufacturing Processes 1.4.3.2 Decreasing Equipment Costs and Increasing Availability of Investment Capital 1.4.3.3 Expansion into New Product Segments 1.5 Global Lab-Grown Diamond Industry Overview 1.5.1 Historical Trends 1.5.1.1 Growth Trajectory 1.5.1.2 Market Players and Strategies 1.5.1.3 Pricing Trends 1.5.1.4 Production Dynamics 1.5.1.5 Consumer Perception and Market Segmentation 1.5.1.6 Future Outlook 1.5.1.7 Impact on Jewelry Design 1.5.1.8 Regulatory and Economic Factors 1.5.2 Market Size on Linear Market Projection 1.5.3 Linear Market Projection vs. Calculated Market Size 1.6 Natural Diamond Market Outlook 1.6.1 Market Size 1.6.2 Impact of Synthetic Diamonds on the Natural Diamond Market 1.6.3 Price Parity Analysis 1.6.4 Supply Chain Challenges 2 Application 2.1 Application Segmentation 2.2 Application Summary 2.3 Global Synthetic Diamond Market for Jewelry (by End-User Application) 2.3.1 Jewelry 3 Products 3.1 Product Segmentation 3.2 Product Summary 3.3 Global Synthetic Diamond Market for Jewelry (by Type) 3.3.1 High-Pressure High-Temperature (HPHT) 3.3.2 Chemical Vapor Deposition (CVD) 3.4 Product Segmentation 3.5 Product Summary 3.6 Global Synthetic Diamond Market for Jewelry (by Carat Size) 3.6.1 0.05-0.10 Carats 3.6.2 0.20-0.50 Carats 3.6.3 0.50-0.70 Carats 3.6.4 0.90-1.00 Carats 3.6.5 1.00-1.50 Carats 3.6.6 1.75-2.00 Carats 3.6.7 2.00-3.00 Carats 4 Regions 4.1 Regional Summary 4.2 Drivers and Restraints 4.3 North America 4.3.1 Regional Overview 4.3.2 Driving Factors for Market Growth 4.3.3 Factors Challenging the Market 4.3.4 Application 4.3.5 Product 4.3.6 U.S. 4.3.6.1 Application 4.3.6.2 Product 4.3.7 Canada 4.3.7.1 Application 4.3.7.2 Product 4.3.8 Mexico 4.3.8.1 Application 4.3.8.2 Product 4.4 Europe 4.4.1 Regional Overview 4.4.2 Driving Factors for Market Growth 4.4.3 Factors Challenging the Market 4.4.3.1 Application 4.4.3.2 Product 4.4.4 Germany 4.4.4.1 Application 4.4.4.2 Product 4.4.5 France 4.4.5.1 Application 4.4.5.2 Product 4.4.6 Austria 4.4.6.1 Application 4.4.6.2 Product 4.4.7 Italy 4.4.7.1 Application 4.4.7.2 Product 4.4.8 U.K. 4.4.8.1 Application 4.4.8.2 Product 4.4.9 Rest-of-Europe 4.4.9.1 Application 4.4.9.2 Product 4.5 Asia-Pacific 4.5.1 Regional Overview 4.5.2 Driving Factors for Market Growth 4.5.3 Factors Challenging the Market 4.5.3.1 Application 4.5.3.2 Product 4.5.4 China 4.5.4.1 Application 4.5.4.2 Product 4.5.5 Japan 4.5.5.1 Application 4.5.5.2 Product 4.5.6 India 4.5.6.1 Application 4.5.6.2 Product 4.5.7 South Korea 4.5.7.1 Application 4.5.7.2 Product 4.5.8 Australia 4.5.8.1 Application 4.5.8.2 Product 4.5.9 Rest-of-Asia-Pacific 4.5.9.1 Application 4.5.9.2 Product 4.6 Rest-of-the-World 4.6.1 Regional Overview 4.6.2 Driving Factors for Market Growth 4.6.3 Factors Challenging the Market 4.6.3.1 Application 4.6.3.2 Product 4.6.4 Middle East and Africa (MEA) 4.6.4.1 Application 4.6.4.2 Product 4.6.5 South America 4.6.5.1 Application 4.6.5.2 Product 5 Research Methodology 5.1 Data Sources 5.1.1 Primary Data Sources 5.1.2 Secondary Data Sources 5.1.3 Data Triangulation 5.2 Market Estimation and Forecast List of Figures Figure 1: Global Synthetic Diamond Market for Jewelry (by Region), 2022, 2027, and 2030 Figure 2: Global Synthetic Diamond Market for Jewelry (by Type), 2022, 2027, and 2030 Figure 3: Global Synthetic Diamond Market for Jewelry (by Carat Size), 2022, 2027, and 2030 Figure 4: Global Synthetic Diamond Market for Jewelry, Recent Developments Figure 5: Supply Chain and Risks within the Supply Chain Figure 6: Global Synthetic Diamond Market for Jewelry (by Carat Size), Global Pricing Snapshot, $U.S./Carat, 2022, 2026, and 2030 Figure 7: Patent Analysis (by Country), January 2021 and December 2023 Figure 8: Patent Analysis (by Company), January 2021 and December 2023 Figure 9: Price Evolution of Natural vs. Lab-Grown Diamond, 2016-2023 Figure 10: Natural Diamond Market Size, $Billion, 2022 and 2024 Figure 11: U.S. Synthetic Diamond Market for Jewelry, $Million, 2022-2030 Figure 12: Canada Synthetic Diamond Market for Jewelry, $Million, 2022-2030 Figure 13: Mexico Synthetic Diamond Market for Jewelry, $Million, 2022-2030 Figure 14: Germany Synthetic Diamond Market for Jewelry, $Million, 2022-2030 Figure 15: France Synthetic Diamond Market for Jewelry, $Million, 2022-2030 Figure 16: Austria Synthetic Diamond Market for Jewelry, $Million, 2022-2030 Figure 17: Italy Synthetic Diamond Market for Jewelry, $Million, 2022-2030 Figure 18: U.K. Synthetic Diamond Market for Jewelry, $Million, 2022-2030 Figure 19: Rest-of-Europe Synthetic Diamond Market for Jewelry, $Million, 2022-2030 Figure 20: China Synthetic Diamond Market for Jewelry, $Million, 2022-2030 Figure 21: Japan Synthetic Diamond Market for Jewelry, $Million, 2022-2030 Figure 22: India Synthetic Diamond Market for Jewelry, $Million, 2022-2030 Figure 23: South Korea Synthetic Diamond Market for Jewelry, $Million, 2022-2030 Figure 24: Australia Synthetic Diamond Market for Jewelry, $Million, 2022-2030 Figure 25: Rest-of-Asia-Pacific Synthetic Diamond Market for Jewelry, $Million, 2022-2030 Figure 26: Middle East and Africa Synthetic Diamond Market for Jewelry, $Million, 2022-2030 Figure 27: South America Synthetic Diamond Market for Jewelry, $Million, 2022-2030 Figure 28: Data Triangulation Figure 29: Top-Down and Bottom-Up Approach Figure 30: Assumptions and Limitations List of Tables Table 1: Market Snapshot Table 2: Synthetic Diamond Market for Jewelry, Opportunities across Regions Table 3: Impact Analysis of Market Navigating Factors, 2023-2030 Table 4: Global Synthetic Diamond Market for Jewelry (by Region), $Million, 2022-2030 Table 5: North America Synthetic Diamond Market for Jewelry (by End-User Application), $Million, 2022-2030 Table 6: North America Synthetic Diamond Market for Jewelry (by Type), $Million, 2022-2030 Table 7: North America Synthetic Diamond Market for Jewelry (by Carat Size), $Million, 2022-2030 Table 8: U.S. Synthetic Diamond Market for Jewelry (by End-User Application), $Million, 2022-2030 Table 9: U.S. Synthetic Diamond Market for Jewelry (by Type), $Million, 2022-2030 Table 10: U.S. Synthetic Diamond Market for Jewelry (by Carat Size), $Million, 2022-2030 Table 11: Canada Synthetic Diamond Market for Jewelry (by End-User Application), $Million, 2022-2030 Table 12: Canada Synthetic Diamond Market for Jewelry (by Type), $Million, 2022-2030 Table 13: Canada Synthetic Diamond Market for Jewelry (by Carat Size), $Million, 2022-2030 Table 14: Mexico Synthetic Diamond Market for Jewelry (by End-User Application), $Million, 2022-2030 Table 15: Mexico Synthetic Diamond Market for Jewelry (by Type), $Million, 2022-2030 Table 16: Mexico Synthetic Diamond Market for Jewelry (by Carat Size), $Million, 2022-2030 Table 17: Europe Synthetic Diamond Market for Jewelry (by End-User Application), $Million, 2022-2030 Table 18: Europe Synthetic Diamond Market for Jewelry (by Type), $Million, 2022-2030 Table 19: Europe Synthetic Diamond Market for Jewelry (by Carat Size), $Million, 2022-2030 Table 20: Germany Synthetic Diamond Market for Jewelry (by End-User Application), $Million, 2022-2030 Table 21: Germany Synthetic Diamond Market for Jewelry (by Type), $Million, 2022-2030 Table 22: Germany Synthetic Diamond Market for Jewelry (by Carat Size), $Million, 2022-2030 Table 23: France Synthetic Diamond Market for Jewelry (by End-User Application), $Million, 2022-2030 Table 24: France Synthetic Diamond Market for Jewelry (by Type), $Million, 2022-2030 Table 25: France Synthetic Diamond Market for Jewelry (by Carat Size), $Million, 2022-2030 Table 26: Austria Synthetic Diamond Market for Jewelry (by End-User Application), $Million, 2022-2030 Table 27: Austria Synthetic Diamond Market for Jewelry (by Type), $Million, 2022-2030 Table 28: Austria Synthetic Diamond Market for Jewelry (by Carat Size), $Million, 2022-2030 Table 29: Italy Synthetic Diamond Market for Jewelry (by End-User Application), $Million, 2022-2030 Table 30: Italy Synthetic Diamond Market for Jewelry (by Type), $Million, 2022-2030 Table 31: Italy Synthetic Diamond Market for Jewelry (by Carat Size), $Million, 2022-2030 Table 32: U.K. Synthetic Diamond Market for Jewelry (by End-User Application), $Million, 2022-2030 Table 33: U.K. Synthetic Diamond Market for Jewelry (by Type), $Million, 2022-2030 Table 34: U.K. Synthetic Diamond Market for Jewelry (by Carat Size), $Million, 2022-2030 Table 35: Rest-of-Europe Synthetic Diamond Market for Jewelry (by End-User Application), $Million, 2022-2030 Table 36: Rest-of-Europe Synthetic Diamond Market for Jewelry (by Type), $Million, 2022-2030 Table 37: Rest-of-Europe Synthetic Diamond Market for Jewelry (by Carat Size), $Million, 2022-2030 Table 38: Asia-Pacific Synthetic Diamond Market for Jewelry (by End-User Application), $Million, 2022-2030 Table 39: Asia-Pacific Synthetic Diamond Market for Jewelry (by Type), $Million, 2022-2030 Table 40: Asia-Pacific Synthetic Diamond Market for Jewelry (by Carat Size), $Million, 2022-2030 Table 41: China Synthetic Diamond Market for Jewelry (by End-User Application), $Million, 2022-2030 Table 42: China Synthetic Diamond Market for Jewelry (by Type), $Million, 2022-2030 Table 43: China Synthetic Diamond Market for Jewelry (by Carat Size), $Million, 2022-2030 Table 44: Japan Synthetic Diamond Market for Jewelry (by End-User Application), $Million, 2022-2030 Table 45: Japan Synthetic Diamond Market for Jewelry (by Type), $Million, 2022-2030 Table 46: Japan Synthetic Diamond Market for Jewelry (by Carat Size), $Million, 2022-2030 Table 47: India Synthetic Diamond Market for Jewelry (by End-User Application), $Million, 2022-2030 Table 48: India Synthetic Diamond Market for Jewelry (by Type), $Million, 2022-2030 Table 49: India Synthetic Diamond Market for Jewelry (by Carat Size), $Million, 2022-2030 Table 50: South Korea Synthetic Diamond Market for Jewelry (by End-User Application), $Million, 2022-2030 Table 51: South Korea Synthetic Diamond Market for Jewelry (by Type), $Million, 2022-2030 Table 52: South Korea Synthetic Diamond Market for Jewelry (by Carat Size), $Million, 2022-2030 Table 53: Australia Synthetic Diamond Market for Jewelry (by End-User Application), $Million, 2022-2030 Table 54: Australia Synthetic Diamond Market for Jewelry (by Type), $Million, 2022-2030 Table 55: Australia Synthetic Diamond Market for Jewelry (by Carat Size), $Million, 2022-2030 Table 56: Rest-of-Asia-Pacific Synthetic Diamond Market for Jewelry (by End-User Application), $Million, 2022-2030 Table 57: Rest-of-Asia-Pacific Synthetic Diamond Market for Jewelry (by Type), $Million, 2022-2030 Table 58: Rest-of-Asia-Pacific Synthetic Diamond Market for Jewelry (by Carat Size), $Million, 2022-2030 Table 59: Rest-of-the-World Synthetic Diamond Market for Jewelry (by End-User Application), $Million, 2022-2030 Table 60: Rest-of-the-World Synthetic Diamond Market for Jewelry (by Type), $Million, 2022-2030 Table 61: Rest-of-the-World Synthetic Diamond Market for Jewelry (by Carat Size), $Million, 2022-2030 Table 62: Middle East and Africa Synthetic Diamond Market for Jewelry (by End-User Application), $Million, 2022-2030 Table 63: Middle East and Africa Synthetic Diamond Market for Jewelry (by Type), $Million, 2022-2030 Table 64: Middle East and Africa Synthetic Diamond Market for Jewelry (by Carat Size), $Million, 2022-2030 Table 65: South America Synthetic Diamond Market for Jewelry (by End-User Application), $Million, 2022-2030 Table 66: South America Synthetic Diamond Market for Jewelry (by Type), $Million, 2022-2030 Table 67: South America Synthetic Diamond Market for Jewelry (by Carat Size), $Million, 2022-2030 Press Release
The global synthetic diamond market for jewelry is estimated to reach $21.78 billion by 2030, reveals the premium market intelligence study by BIS Research. The study also highlights that the market is set to witness a CAGR of 7.62% during the forecast period 2023-2030.
The global synthetic diamond market for jewelry is poised for substantial growth, fueled by a surge in demand for sustainable and ethically sourced luxury items. Innovations in production techniques and material science are driving advancements in synthetic diamond quality, affordability, and environmental sustainability. These innovations are not only enhancing the aesthetic appeal and durability of synthetic diamonds but also reducing manufacturing costs and minimizing environmental impacts associated with traditional diamond mining. Regulatory initiatives aimed at promoting ethical sourcing and sustainability in the luxury goods sector further propel the adoption of synthetic diamonds. USPs of this report • A dedicated section focusing on the trends adopted by the key players operating in the synthetic diamond market for jewelry • Qualitative and quantitative analysis of the synthetic diamond market for jewelry at the region and country level and granularity by application and product segments • Supply chain and value chain analysis Analyst Perspective According to Debraj Chakraborty, Principal Analyst, BIS Research, “The synthetic diamond market for jewelry shows promising signs of growth and evolution. Advances in manufacturing processes are driving innovation, offering efficient and precise methods for producing high-quality synthetic diamonds. These developments cater to changing consumer preferences and demands for customization. Despite challenges such as cultural biases favoring natural diamonds, the market is gradually overcoming these obstacles through education and awareness about the ethical and environmental advantages of synthetic diamonds. As sustainability becomes increasingly important in the jewelry industry, the synthetic diamond market stands to benefit from its eco-friendly production methods and transparent supply chain. With continued technological advancements and a growing emphasis on sustainability, the synthetic diamond market for jewelry is positioned for long-term success and competitiveness in the jewelry industry.” Key Questions Answered in the Report • Which are the leading applications working toward the rapid adoption of synthetic diamonds for jewelry? • What are the latest developments in the synthetic diamond market for jewelry in various countries? • What are the various governmental regulations/initiatives that have increased the adoption of synthetic diamonds for jewelry? • How will the adoption of synthetic diamonds for jewelry affect the demand for synthetic diamonds during the forecast period in different countries? • Which is expected to be the leading and fastest-growing segment in the synthetic diamond market for jewelry? • What are the major patents filed by the companies in the synthetic diamond market for jewelry? • Which are the prominent players working on the development of the synthetic diamond market for jewelry, and what are the key offerings? • What are the future key materials for the synthetic diamond market for jewelry? • Which product segments are projected to lead in terms of demand for synthetic diamonds for jewelry, and which of them are expected to witness high demand growth during 2023-2030? • Which regions and countries are leading in terms of consumption of synthetic diamonds for jewelry, and which of them are expected to witness high demand growth during 2023-2030?
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