JB Insights
Future of natural diamonds challenging; holds promise of transformation: BCG report
A new report by the Boston Consulting Group (BCG), commissioned by De Beers Group, unveils the critical factors that will shape the future of the natural diamond market.
In an era marked by rapid changes and emerging challenges, the natural diamond industry stands at a pivotal juncture. A recent report by the Boston Consulting Group (BCG), commissioned by De Beers Group, sheds light on the critical factors shaping the future of the natural diamond sector. With primary diamond supply projected to decline and demand dynamics evolving, the industry is poised for a significant transformation, it notes.
The cornerstone of the natural diamond industry’s future is the anticipated decline in primary supply. The report highlights that the primary production of natural diamonds is expected to decrease by approximately 1% CAGR over the next decade. This decline is driven by the diminishing yields from ageing mines, a scarcity of new discoveries, and constrained exploration budgets over the past ten years. While there is potential for some increase through brownfield expansions, the overall outlook suggests a tightening of supply.
Recycled diamonds, often seen as a secondary supply source, are not expected to significantly impact the market within the next ten years. They are projected to contribute less than 10% of the total supply of natural polished diamonds. This limited impact underscores the industry’s reliance on primary sources and the inherent stability provided by constrained supply.
On the demand side, the future of natural diamonds is influenced by global economic factors and changing consumer preferences. The report identifies three key dynamics that will shape demand: the continuing rise of brands, the adoption of lab-grown diamonds (LGDs), and the evolving desires of the growing middle class in Asia.
The report notes that the natural diamond industry has a unique opportunity to catalyse collaboration across the value chain. It calls for industry participants to unite in restoring the desire for natural diamonds, stimulating demand in new demographics, and creating new purchase occasions. This collective effort is seen as essential to maintaining the desirability and value of natural diamonds in a competitive market.
Effective marketing strategies and a clear strategic direction are pivotal for the industry’s future. The report emphasises the need for continuous efforts to build desirability among US consumers and to expand market presence in Asia. By leveraging historical marketing successes and adapting to contemporary consumer trends, the natural diamond industry can navigate the current challenges and secure a bright future.
As the natural diamond industry faces a critical moment, the insights from BCG’s report provide a roadmap for navigating the evolving landscape. With a focus on strategic collaboration, effective marketing, and adapting to shifting demand dynamics, the industry can harness the opportunities presented by constrained supply and changing consumer preferences.
The future of natural diamonds, while challenging, holds the promise of transformation and renewed growth, the BCG report notes.
JB Insights
Women’s Day 2026: Jewellery Brands Celebrate Independence, Identity and Self-Expression
From milestone-driven collections to personalised styling and self-purchase narratives, jewellery brands across India are celebrating women’s independence, identity, and achievements this International Women’s Day.
International Women’s Day 2026 has prompted jewellery brands across India to launch campaigns that celebrate women’s empowerment, individuality, and personal achievements. Moving beyond traditional gifting narratives, many brands are positioning jewellery as a symbol of self-expression and personal milestones, reflecting the evolving role of women as independent buyers in the jewellery market.
Kumari Fine Jewellery
Mumbai-based Kumari Fine Jewellery has introduced a Women’s Day showcase themed around the idea of the “Modern Indian Original.” The initiative focuses on financially independent women who mark their achievements with self-purchased jewellery. The showcase highlights lightweight gold pieces designed for everyday wear, reinforcing jewellery as both a style statement and a symbol of personal growth.
Dhirsons Jewellers
Delhi’s Dhirsons Jewellers has launched a campaign centred on celebrating milestones in a woman’s journey rather than traditional occasions. The initiative encourages women to recognise defining moments in their lives, positioning jewellery as a reflection of resilience, confidence, and self-belief.
GIVA
Digital-first jewellery brand GIVA has unveiled a Women’s Day concept titled The Pearl Edit, focusing on timeless pearl jewellery that celebrates women who are building, leading, and redefining their paths. The campaign emphasises understated elegance while encouraging women to celebrate themselves through meaningful jewellery.
Divine Solitaires
Diamond jewellery brand Divine Solitaires has also introduced a Women’s Day campaign highlighting the emotional value of solitaire diamonds as symbols of personal milestones. The initiative focuses on recognising the journeys of women across roles—from professionals and entrepreneurs to mothers and mentors—while encouraging self-appreciation through jewellery.
Senco Gold & Diamonds
Technology-driven campaigns have also gained traction this year. Senco Gold & Diamonds has launched an initiative that integrates artificial intelligence into jewellery styling, enabling customers to discover pieces that match their personality and features. The concept highlights individuality while bringing digital innovation into the jewellery retail experience.
Tanishq
Large national brands are also participating in the Women’s Day narrative. Tanishq has continued its focus on celebrating modern womanhood through curated collections and storytelling campaigns that reflect the changing aspirations of contemporary women. The brand’s initiatives frequently highlight independence, confidence, and self-expression.
Kalyan Jewellers
Similarly, Kalyan Jewellers has aligned its messaging with women’s empowerment by supporting women-centric initiatives and partnerships, reinforcing the importance of recognising women’s achievements across different fields.
CaraLane
Other jewellery brands are also marking the occasion through special launches and themed collections. CaratLane has promoted contemporary diamond and gold jewellery collections designed for self-purchase and everyday styling, encouraging women to celebrate their personal milestones.
ORRA Fine Jewellery
Luxury diamond brand ORRA Fine Jewellery has highlighted modern diamond jewellery that symbolises confidence and individuality, targeting young professionals who view jewellery as a statement of identity.
Malabar Gold & Diamonds
Meanwhile, Malabar Gold & Diamonds has focused on campaigns that recognise women’s contributions to families, workplaces, and society, positioning jewellery as a tribute to their strength and achievements.
Across the industry, the Women’s Day celebration by many brands reflect a broader shift in consumer behaviour. Women are increasingly viewing jewellery not only as a traditional gift but also as a meaningful purchase that celebrates personal success, independence, and self-expression.
As jewellery brands continue to adapt to these changing aspirations, Women’s Day has become an important platform for storytelling, allowing brands to connect with modern consumers through themes of empowerment, individuality, and celebration of life’s defining milestones.
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