Middle East & Africa Diamond Market Size & Outlook
Global Market
Related Markets
MEA diamond market highlights
- The MEA diamond market generated a revenue of USD 1,807.1 million in 2024.
- The market is expected to grow at a CAGR of 1.5% from 2025 to 2030.
- In terms of segment, jewelry & ornaments was the largest revenue generating application in 2024.
- Industrial is the most lucrative application segment registering the fastest growth during the forecast period.
MEA data book summary
| Market revenue in 2024 | USD 1,807.1 million |
| Market revenue in 2030 | USD 1,977.1 million |
| Growth rate | 1.5% (CAGR from 2025 to 2030) |
| Largest segment | Jewelry & ornaments |
| Fastest growing segment | Industrial |
| Historical data covered | 2018 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Jewelry & Ornaments, Industrial |
| Key market players worldwide | Petra Diamonds Ltd, Rio Tinto PLC ADR, Trans Hex, Lucara Diamond Corp, Alrosa, De Beers, Mountain Province Diamonds Inc, Arctic Canadian Diamond Company, Gem Diamonds Ltd |
Other key industry trends
- In terms of revenue, MEA region accounted for 4.4% of the global diamond market in 2024.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 14,880.0 million by 2030.
Africa is the key region in the world from where a majority of the natural diamonds are obtained. However, the consumption of diamonds is the least in this region.
Middle East & Africa accounted for a revenue share of 4.5% in the global diamond market in 2018. This share is mainly attributable to the consumption of diamonds in the jewelry sector in the Middle East.
The growing sales of diamond jewelry in the Middle East are owing to a rise in the number of weddings followed by the increasing preference of young women toward casual daily wear jewelry.
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Publish Date: Dec 12, 2024
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Diamond Market Scope
Diamond Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Rio Tinto PLC ADR | View profile | 57,174 | 6 St James’s Square, London, United Kingdom, SW1Y 4AD | www.riotinto.com |
| Petra Diamonds Ltd | View profile | 3,042 | 2 Church Street, Clarendon House, Hamilton, Bermuda, HM11 | www.petradiamonds.com |
| Trans Hex | View profile | 251-500 | Cape Town, NA - South Africa, South Africa, Africa | www.transhex.co.za |
| Lucara Diamond Corp | View profile | 592 | 1250 Homer Street, 502, Vancouver, BC, Canada, V6B 2Y5 | www.lucaradiamond.com |
| Alrosa | View profile | 10001+ | Mirny, Krasnodar, Russian Federation, Europe | www.alrosa.ru/ |
| De Beers | View profile | 1001-5000 | London, England, United Kingdom, Europe | www.debeers.com/ |
| Mountain Province Diamonds Inc | View profile | 13 | 151 Yonge Street, Suite 1100, Toronto, ON, Canada, M5C 2W7 | www.mountainprovince.com |
| Arctic Canadian Diamond Company | View profile | 501-1000 | Calgary, Alberta, Canada, North America | www.ddmines.com/ |
| Gem Diamonds Ltd | View profile | 1,401 | 2 Eaton Gate, London, United Kingdom, SW1W 9BJ | www.gemdiamonds.com |
Middle East & Africa Diamond Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Diamond Market Outlook will help companies and investors design strategic landscapes.
Jewelry & Ornaments was the largest segment with a revenue share of 93.22% in 2024.
Horizon Databook has segmented the Middle East & Africa diamond market based on jewelry & ornaments, industrial covering the revenue growth of each sub-segment from 2018 to 2030.
Africa is the key region in the world from where a majority of the natural diamonds are obtained. However, the consumption of diamonds is the least in this region.
Middle East & Africa accounted for a revenue share of 4.5% in the global diamond market in 2018. This share is mainly attributable to the consumption of diamonds in the jewelry sector in the Middle East.
The growing sales of diamond jewelry in the Middle East are owing to a rise in the number of weddings followed by the increasing preference of young women toward casual daily wear jewelry.
- Middle East & Africa Diamond Market Application Outlook (Revenue, USD Million , 2018-2030)
- Jewelry & Ornaments
- Industrial
- Middle East & Africa Diamond Market Product Outlook (Revenue, USD Million , 2018-2030)
- Natural
- Synthetic
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa Diamond Market Outlook, including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa Diamond Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
MEA diamond market statistics, by application, 2018-2030 (US$M)
