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+91 22 4030 9999
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Diamonds have long held a place of attraction and prestige in jewellery. Diamond popularity is linked with the rise in the demand for jewellery and its use in industrial applications. The boost in demand of diamond increasing for the research purposes as well.
The global diamond market size was USD 94.19 billion in 2023. As per the forecast, it is expected to grow from USD 97.57 billion in 2024 to 138.66 billion in 2032 at a CAGR of 4.5%.However, as global economics continue to evolve, the diamond market remains a complex and ever-changing environment. This firm sense has continued to fascinate both industry insiders and investors equally. In this blog, we're going to learn the latest diamond trend in 2024, as well as important tips and market insights about diamonds as an investment.
We're not experts in predicting the future, but of course, we have a team of diamond experts. Thus, by considering important aspects, we can foresee the following diamond market trends:
With continuous advancements in technology, lab-grown diamonds have become very popular in the diamond world. They have the same physical properties as mined diamonds. Lab-grown diamonds offer the same look, sparkle, and feel, but they are popular because of their lower cost than mined diamonds.
The other aspect of lab-grown diamonds behind there popularity is the ethical implications and reduction in environmental impact. In traditional diamond mining, there was an involvement in environmental substances (land and water) that impacted nature. However, lab-grown diamonds require significantly less land and water to produce. They usually generate fewer greenhouse gases, which makes them a more environmentally friendly choice. Besides, lab-grown diamonds offer better transparency throughout the supply chain. With technology, it's easier to track the origin and production process of lab-grown diamonds.
Nowadays, consumers are more attentive to the origin or source of the diamond. There’s this thing called ‘ethical sourcing,’ which basically means ensuring the diamonds aren’t causing harm to the environment. People are becoming more aware of the impact that diamond mining has on the planet.
To ensure the accurate origin of the diamonds, KPCS comes into action. KPCS stands for Kimberley Process Certification Scheme acts like a stamp of approvals. KPCS shows that the diamond has been sourced in a way that’s free from conflict. It is more like a guarantee that the diamond you’re buying is not harming anyone or anything.
Personalisation is one of the important parts of human self-satisfaction. Humans tend to find personal touch in everything around them. Diamond jewellery has no exceptions to this.
People increasingly value unique, one of a kind pieces that match their personal style. As a result, custom and personalised diamond jewellery is becoming a highly sought-after option.
As generation changes, preferences change. Earlier diamonds used to come only in their classic white sparkle. However, this has completely changed, and people are looking for more fancy colored diamonds.
People are becoming more interested in unique and colorful diamond options. This is increasing the driving demand for fancy colored diamonds. These diamonds are valued for their rarity and individuality.
The purchase of diamonds as an investment has rapidly grown over the years. The reason seems obvious and makes lots of sense. First, diamonds don’t take up too much space, and second, they have forever been used as an excellent means of transferring money. Therefore, before buying a diamond online or physically, it is recommended to consider the following tips:
When it comes to diamonds, quality is the most important factor. The 4Cs (Cut, Color, Clarity, Carat) determine the value of a diamond. Choosing a diamond with a higher score/grade in all 4Cs is essential. A perfectly-cut diamond with excellent clarity and color will value better over time. Check out Different Diamond Cuts & Shapes- Understand Popular Diamond Cuts
There is no denying that buying diamond jewellery is the easiest way of investing. However, investing in loose diamonds offers exciting advantages too. You might be wondering, ‘Why should I invest in loose diamonds and not in one already set in jewellery?’. Below is a quick answer for you:
- Flexibility: Buying loose diamonds leaves you with personalised designs & style options.
- Better Value: Loose diamonds avoid additional costs, and you only have to pay for the gem itself.
- Quality Inspection: Loose diamonds ensure superior quality as they enable close examination of every detail.
Investing in diamonds is not like winning a lottery overnight. Investing in diamonds is like planting a seed and waiting for a tree to grow. Before investing, it is important to know your goal. Are you in it for the quick cash, or are you willing to wait it out for better returns in future? There is a saying that diamonds are like a fine wine; they get better with age. Therefore, holding on to your diamonds for a long period can give you better returns.
Before diving into diamond investments, you must take a vital step:
understanding market insights. This step is important because it lays the foundation for a successful investment journey. So, before you start exploring the diamond market, it's essential to know the market insights and considerations related with investing in diamonds.
Understanding the current demand and trends in the diamond market is essential.
- Are diamonds gaining popularity?
- Are certain types of diamonds more in demand than others?
Keeping an eye on market trends can help you make right decisions about which diamonds to invest in and when.
Knowing how diamonds are priced and valued in the market is key.
- What factors determine the price of a diamond?
- How do economic fluctuations or consumer preference changes affect diamond prices?
Understanding these factors can help you measure the potential profitability of your diamond investments.
The diamond market operates within a complex ecosystem of supply and demand, economic conditions, and industry dynamics. Being aware of these market dynamics can help you expect changes and make strategic investment decisions. For example, are there any upcoming events or developments that could impact diamond prices?
Last but not least, always, I repeat, always buy diamonds from reputable diamond manufacturers only. Diamonds can be a valuable addition to a diversified Portfolio, but they’re not without risks. By understanding market trends, following smart tips and remaining aware of the challenges, so you can make informed decisions about investing in diamonds. If you’re looking to invest in loose diamonds, Sanghvi & Sons is here to help you.
