Diamond mining market to hit $51.32B by 2030

The Business Research Company says the global diamond mining market will grow from $30.91 billion in 2025 to $34.15 billion in 2026, then reach $51.32 billion by 2030. The report points to rising luxury jewelry demand, industrial uses and faster adoption of automated and sustainable mining methods as key drivers.

Why it matters: - Diamond mining supports both luxury jewelry and industrial supply chains. - The market’s projected double-digit growth signals rising demand for rough diamonds and new investment in mining capacity, technology and exploration. - Shifts in sourcing preferences, including ethically sourced natural diamonds, could reshape how producers compete.

What happened: - The Business Research Company published a diamond mining market report covering 2026 to 2035. - The report estimates the market will rise from $30.91 billion in 2025 to $34.15 billion in 2026, a 10.5% CAGR. - The report forecasts the market will reach $51.32 billion by 2030, at a 10.7% CAGR. - The company also published a free sample and full report online: Download a free sample and View the full report.

The details: - The report ties near-term growth to higher global demand for luxury jewelry. - Industrial applications for diamonds remain a major demand source, including cutting, drilling and abrasives. - The report also cites more investment in exploration, higher demand for rough diamonds in gemstone processing and the expansion of open-pit mining projects. - Looking ahead, the report points to automated mining technologies, sustainable diamond sourcing, synthetic diamonds for industrial use, marine and alluvial mining, advanced exploration methods, deeper underground mining projects and colored diamond recovery as key trends. - Diamond mining extracts natural diamonds mainly from kimberlite pipes or alluvial deposits through surface or underground mining. - North America led the market in 2025. - Asia-Pacific is expected to be the fastest-growing region during the forecast period. - The report covers Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America and the Middle East and Africa.

Between the lines: - Consumer demand is no longer limited to traditional natural diamonds. - NB Diamonds said in September 2025 that about 29% of UK adults are open to buying lab-grown diamonds, while sales in that segment are growing 12% to 18% annually. - That shift could pressure miners to differentiate natural stones through provenance, ethics and supply consistency. - The report’s emphasis on automation and recovery technologies suggests miners are also seeking lower costs and better yields as competition intensifies.

What's next: - The market’s growth path will likely depend on whether luxury demand, industrial use and exploration spending continue to rise at the pace the report expects. - Mining companies may increase spending on sustainable sourcing, underground projects and marine reserve exploration. - Competitive positioning may hinge on technology adoption, access to new deposits and the ability to market ethically sourced natural diamonds.

The bottom line: - Diamond mining is moving from a commodity story to a technology and sourcing story, with growth still strong but competition likely to sharpen around ethics, efficiency and deposit quality.