NEWS | May 16 -31 Jewellery Recap

Here's your bitesize May 16 -31 Jewellery and Diamond News! The diamond jewelry market is evolving rapidly as lab-grown diamonds gain momentum, fueling a shift toward ethical and sustainable luxury. Despite challenges like new U.S. tariffs and economic slowdowns, demand for fancy-shaped and colored stones remains strong. De Beers’ closure of its Lightbox brand highlights industry tensions between natural and lab-grown diamonds. With Indian demand expected to double in five years and major events like JCK Las Vegas on the horizon, the sector is cautiously optimistic amid ongoing market uncertainties.

1. Diamond Jewelry Market Forecast 2025-2030: Lab-Grown Diamonds Gain Traction

   (Yahoo Finance, May 22, 2025)

   The global diamond jewelry market was valued at USD 356 billion in 2024 and is projected to reach USD 479 billion by 2030, growing at a CAGR of approximately 6%. The report highlights a significant shift toward lab-grown diamonds, which are strengthening the ethical and sustainable luxury market segment. Despite some setbacks like De Beers’ Lightbox closure, lab-grown diamonds continue to appeal to environmentally conscious consumers. Market evolution through 2030 will be driven by sustainability demands, technological advances, and changing consumer preferences.

   https://uk.finance.yahoo.com/news/diamond-jewelry-market-forecast-2025-082100337.html

   
   

2. Tariffs Mark the Latest Blow for Already Struggling Diamond Sector

   (CNBC, May 27, 2025)

   The imposition of a 10% import duty on polished diamonds entering the U.S. — the largest global market — adds pressure to an already struggling diamond sector. The luxury market faces challenges from economic downturns and a post-pandemic demand slump, especially in China. Lab-grown diamonds (LGD), chemically identical but sold at 80% discounts, are rapidly gaining market share, with over half of U.S. engagement rings featuring LGDs last year. Pandora, the largest jewelry brand by volume, ceased selling mined diamonds in 2021, signaling a major industry shift. Despite plunging prices for natural diamonds (down nearly 60% since March 2022), some analysts believe the market may soon stabilize as consumers begin to distinguish between natural and lab-grown stones. De Beers is focusing on natural diamonds, closing its LGD brand Lightbox amid these challenges.

   https://www.cnbc.com/2025/05/27/tariffs-mark-the-latest-blow-for-already-struggling-diamond-sector.html

   
   

3. Industry Focuses on Las Vegas Shows Amid Uncertainty

   (Rapaport, May 29, 2025, based on April data)

   The diamond industry is focused on the upcoming Las Vegas shows while cautiously awaiting market developments. A U.S. court ruled that former President Trump lacked authority to impose tariffs, adding to market uncertainty. Indian trade remains slow due to weak overseas and domestic demand for polished diamonds. Long fancy shapes such as Oval, Marquise, and Emerald cuts outperform rounds, with high-quality stones scarce and commanding premiums. De Beers forecasts Indian diamond demand to double over the next five years. Botswana’s president advocates for local polishing of all rough diamonds. Swiss watch exports surged 18% year-over-year in April amid pre-tariff shipment spikes to the U.S. Colored stones dominated a $48 million Christie’s auction in Hong Kong. Market activity is steady but cautious, with dealers preparing for JCK Las Vegas and hoping for tariff solutions.

   https://rapaport.com/market-comment/market-comment-may-29-2025/