Valery Budny: There is no strategy and legislation in Russia enabling the full cycle processing of precious raw materials within the country

Valery Budny, Head of the Jewelry Russia program and CEO of the JUNWEX media holding, told Rough&Polished about the results of the meeting and pressing issues in the precious metals and precious stones (PMPS) and the jewelry sectors.

11 april 2024

Paul Zimnisky: Natural diamonds face the risk of eroding their appeal if constantly discounted

New York-based independent diamond and jewellery analyst and consultant Paul Zimnisky told Rough & Polished’s Mathew Nyaungwa in an exclusive interview that the industry should do away with discounts. He said the industry should treat natural diamonds...

01 april 2024

Edahn Golan: Lab-grown diamond prices to continue declining

In an exclusive interview with Rough&Polished's Mathew Nyaungwa, Edahn Golan, proprietor of the eponymous Edahn Golan Diamond Research and Data, predicted that the prices of lab-grown diamonds would continue to decline, especially at the retail and...

25 march 2024

ADPA’s Ellah Muchemwa: G7 restrictions to bring extra costs from diamond mining to retail

The African Diamond Producers Association (ADPA), which has openly registered its disdain for the G7’s rough diamond trade restrictions, is of the opinion that the move will bring extra costs on all stages, from mining to retail. ADPA executive...

18 march 2024

Eduard Gorodetsky: Currently we see high demand for synthetic diamonds for use in technology segment rather than in jewelry

Director General of the Advanced Synthetic Research Center Eduard Gorodetsky told Rough&Polished about the current situation at the company, new exclusive technologies in the synthesis and production of lab-grown crystals, as well as the Research Center’s...

11 march 2024

Technavio Report: The global diamond jewellery market to grow by $16.6 bn

29 june 2023

According to the market research company Technavio's report, the global diamond jewellery market is projected to expand by $16.6 bn between 2022 and 2027, exhibiting a compound annual growth rate (CAGR) of 3% throughout the forecast period.

The report also predicts that North America will contribute significantly to the market’s growth, accounting for 44% of the overall expansion. It states that within the North American region, the demand for personalized and one-of-a-kind diamond jewellery, particularly in the form of wedding rings, is witnessing a substantial surge.

Additionally, the market experiences a peak in demand for designer jewellery during the festive and wedding seasons. Furthermore, the advancement of technology in online retail is also fueling the growth of the diamond jewellery market in the US.

The report also shows that the growth in the global diamond jewellery market is largely driven by the shift towards e-commerce platforms, adding that the presence of counterfeit products in the e-retailing sector is the major challenge impeding the market growth.

The prevalence of counterfeit products is particularly prominent in the Middle East and Southeast Asia, including countries like the UAE, Saudi Arabia, Indonesia, China, India, Malaysia, and Singapore. This issue is expected to hinder market growth in these regions during the forecast period.

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished