The Natural Diamond Council (NDC) has launched a series of reports on the natural diamond industry, covering market trends, origins, and sustainability.
Consumer Trends in the U.S. Market
The first report in the series, Natural Diamond Trends, A 2024 Overview, was developed in partnership with trend analytics firm Tenoris. It examines key trends in U.S. consumer preferences for natural diamonds.
Key findings include:
- Round diamonds continue to be the most common choice, making up 82% of centre stones in natural diamond jewellery. Demand for fancy shapes, particularly oval diamonds, is increasing.
- VS-clarity diamonds are growing in popularity, whereas SI-clarity diamonds have traditionally been preferred by U.S. consumers.
- More consumers are choosing larger centre stones, shifting away from the traditional 1-carat size.
- Rings are the most popular category for diamond jewellery, followed by earrings.
- In terms of sales value, bridal jewellery accounts for 33%, while non-bridal natural diamond jewellery makes up 67% of the market.
Diamond Facts Report Addresses Industry Misconceptions
The NDC has also released an updated Diamond Facts report, which presents data from external sources to clarify common misconceptions about the diamond industry. It covers:
- The economic and social impact of diamond production in mining regions.
- Environmental stewardship and industry sustainability efforts.
- Diamond verification and advancements in authentication.
- Trends in pricing and production.
- The importance of disclosure and accurate terminology in diamond marketing.
- Traceability and responsible sourcing within the supply chain.
Canada’s Role in the Natural Diamond Market
The report includes data on Canada’s diamond industry, detailing its economic impact and role in the global supply chain:
- Canada’s diamonds are among the oldest in the world, with some estimated at 3.5 billion years old.
- The Northwest Territories (NWT), a key diamond-producing region, has seen C$27.7 billion infused into the national economy since diamond recovery began. Of this, C$19.3 billion was spent with local NWT businesses, including C$8.6 billion with Indigenous businesses.
- Diamond mining has contributed 52% of the NWT government’s corporate tax revenues in the past three years.
- Canada’s largest off-grid solar power plant was established at the Diavik diamond mine, demonstrating renewable energy applications in sub-Arctic conditions.
- Since 1996, the industry has created 74,210 person-years of cumulative employment.
The full reports can be accessed via the Natural Diamond Council’s official platform.
