Diamond Mining Market Report 2026

The diamond mining market size has grown rapidly in recent years. It will grow from $30.91 billion in 2025 to $34.15 billion in 2026 at a compound annual growth rate (CAGR) of 10.5%. The growth in the historic period can be attributed to growing global demand for luxury jewelry, expansion of industrial diamond applications, increasing investments in mining exploration activities, rising demand for rough diamonds in gemstone processing, development of large-scale open pit mining projects.

The diamond mining market size is expected to see rapid growth in the next few years. It will grow to $51.32 billion by 2030 at a compound annual growth rate (CAGR) of 10.7%. The growth in the forecast period can be attributed to increasing adoption of automated mining operations, rising demand for sustainable diamond sourcing practices, growing use of synthetic diamonds in industrial applications, expansion of marine and alluvial mining activities, increasing investments in advanced mineral exploration technologies. Major trends in the forecast period include increasing demand for ethically sourced natural diamonds, rising adoption of deep underground diamond mining projects, growing exploration of marine diamond reserves, expanding investment in advanced diamond recovery techniques, increasing focus on high-value colored diamond extraction.

The rising demand for diamond jewelry worldwide is expected to propel the growth of the diamond mining market going forward. Diamond jewelry refers to ornaments or accessories such as rings, necklaces, earrings, and bracelets that are manufactured using diamonds as the primary decorative gemstone. The rising demand for diamond jewelry worldwide is driven by increasing consumer preference for luxury and symbolic purchases, as diamonds are widely associated with status, celebration, and emotional value. Diamond mining contributes and supports the demand for diamond jewelry worldwide by ensuring a consistent supply of rough diamonds, which are processed and supplied to the jewelry industry to meet increasing consumer demand. For instance, in September 2025, according to NB Diamonds, a UK-based diamond wholesaler and jewelry manufacturer, around 29% of UK adults are open to purchasing lab-grown diamonds, with sales increasing at 12%-18% year-on-year, particularly driven by demand for engagement rings under 1.5 carats and entry-level fashion jewelry. Therefore, the rising demand for diamond jewelry worldwide is propelling the growth of the diamond mining market.

Leading companies operating in the diamond mining market are focusing on developing advanced solutions, such as micro-scale verification instruments, to improve diamond authentication, ensure traceability, and prevent the circulation of synthetic or undisclosed stones. Micro-scale verification instruments refer to compact, high-precision devices designed to accurately identify and differentiate natural diamonds from lab-grown or treated stones at early stages of the value chain. For example, in February 2024, De Beers Group, a UK-based diamond company, launched AMS Micro, its latest diamond verification instrument, designed to provide fast and highly accurate screening of small diamonds. The device enhances operational efficiency by enabling large-scale, automated verification while maintaining high standards of detection accuracy, thereby supporting transparency and trust across the diamond supply chain.

In July 2023, Burgundy Diamond Mines Limited, a Canada-based diamond mining and polished diamond producer, acquired Arctic Canadian Diamond Company Limited for $136 million. Through this acquisition, Burgundy intends to become a fully integrated global diamond company by incorporating the Ekati Diamond Mine into its portfolio, enabling control across the entire value chain from mining to sales and enhancing its position in ethically sourced and traceable high-quality diamonds. Arctic Canadian Diamond Company Limited is a Canada-based mining company engaged in diamond mining operations.

Major companies operating in the diamond mining market are Rio Tinto Group, De Beers Group, Alrosa Public Joint Stock Company, Debswana Diamond Company Proprietary Limited, Letseng Diamonds Proprietary Limited, Catoca Mining Company (Sociedade Mineira de Catoca), Mountain Province Diamonds Inc., Petra Diamonds Limited, Gem Diamonds Limited, Lucara Diamond Corporation, Namdeb Diamond Corporation Proprietary Limited, Gahcho Kué Joint Venture, Trans Hex Group Limited, Koidu Limited, Alexkor Limited, Archon Minerals Limited, Okavango Diamond Company Proprietary Limited, Diamcor Mining Inc., JSC Severalmaz, Burgundy Diamond Mines Limited.

North America was the largest region in the diamond mining market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the diamond mining market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the diamond mining market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The diamond mining market consists of revenues earned by entities by providing services such as exploration and resource assessment, ore extraction and hauling, diamond processing and recovery, sorting and grading of rough diamonds. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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