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Demand for Diamond Jewelry Expected to Grow to Annually by up to 4% Until 2025

Demand for diamond jewelry is expected to see annual growth of between 2% and 4% until the year 2025. The diamond miner is forecasting a significant increase in 2019, followed by a decline in 2020 and then steady growth in the coming years.

From: israelidiamond.co.ilDate: 2016-06-23 06:14:29Views: 537

Demand for diamond jewelry is expected to see annual growth of between 2% and 4% until the year 2025 according to an Alrosa report. The diamond miner is forecasting a significant increase in 2019, followed by a decline in 2020 and then steady growth in the coming years.

According to a breakdown of diamond jewelry sales last year, the Asia-Pacific region accounted for the highest share of sales with 35% of the market, followed by the Americas with a 32% share. Europe held an 8% share of diamond jewelry sales in 2015, while India accounted for 7% and Japan accounted for 5%, according to the Alrosa report.

The Russian diamond miner warns that lower than expected diamond jewelry consumption in 2014 and 2015 has led to the accumulation of inventory surplus by diamond polishers. According to Alrosa figures, diamond jewelry consumption in 2014 was US$4 billion less than the forecast, while in 2015, the unrealized forecasted demand was some US$11 billion.

Growth of diamond jewelry demand in the United States of America is assumed to increase by some 3% to 4% annually, while Asia has an assumed growth of 4% to 6% with volatility in the short term, according to Alrosa. Europe is expected to see diamond jewelry demand growth of about 1% annually, while Japan is assumed to see a less than 1% increase each year.

On the subject of rough diamonds, Alrosa predicts a demand supply imbalance after the year 2019, when demand will exceed supply, though the rough diamond market is expected to be balanced in the mid-term.

 

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