Insight

Reference

·

Supporting source

Natural-diamond wholesale price decline (2023-2025)

~minus 40%

As of2023-2025·Sources2·Supporting

Bain 2025 diamond outlook: natural-diamond wholesale prices contracted roughly 40 percent 2023-2025 on De Beers stockpile release, LGD substitution, and weakening US engagement market. The shock forcing Thai cutters into LGD pivot.

Download CSV ↓Compare plans →

Figure in context

Bain 2025 diamond outlook: natural-diamond wholesale prices contracted roughly 40 percent 2023-2025 on De Beers stockpile release, LGD substitution, and weakening US engagement market. The shock forcing Thai cutters into LGD pivot.

Bain 2025 diamond outlook: natural-diamond wholesale prices contracted roughly 40 percent 2023-2025 on De Beers stockpile release, LGD substitution, and weakening US engagement market. The shock forcing Thai cutters into LGD pivot.

Time scope

2023-2025

Source basis

Supporting source

Interpretation notes

What this tells you

Bain 2025 diamond outlook: natural-diamond wholesale prices contracted roughly 40 percent 2023-2025 on De Beers stockpile release, LGD substitution, and weakening US engagement market. The shock forcing Thai cutters into LGD pivot.

What not to do with it

Use the linked report for interpretation and keep basis differences explicit.

Related figures

Adjacent numbers that add context without drowning the value.

FY2024
USD 8.4B

Thailand total gem and jewelry export (2024 baseline)

GIT Thailand Gem and Jewelry Industry Report 2024, DFT export statistics

FY2024
~USD 1.8B

Thailand diamond-set jewelry export (2024)

GIT industry report, DFT HS 7113 breakdown

FY2027 modelled
USD 1.2-2.3B

Thailand LGD-set jewelry export (2027 base case)

GIT, TGJTA member survey, SCB EIC outlook, operator disclosures

2026
25-40%

LGD wholesale as share of comparable natural (2026)

Bain, IDEX Online price tracker, Greenlab Diamonds, Pluczenik price sheets

FY2024
41% of members

TGJTA cutter LGD adoption share (2024)

TGJTA Annual Report 2024 member survey

FY2027 modelled
~9-11M carats

Indian CVD rough capacity (2027 modelled)

Greenlab investor disclosure, Bhanderi capacity guidance, India GJEPC

Report context

Thailand Lab-Grown Diamond Jewelry Export 2027 Market Intelligence

Thailand is the world's #2 polished-gem jewelry exporter after India, with USD 8.4B of total gem-and-jewelry exports in 2024 and roughly USD 1.8B of diamond-set jewelry. The 40 percent collapse of natural-diamond wholesale prices 2023-2025 is forcing Bangkok cutters, setters and SET-listed brand-owners (Pranda, Beauty Gems, Aurora, GMS, Cmc Group) to pivot to lab-grown diamonds sourced from Indian CVD growers (Greenlab, Bhanderi Lab Grown, Pluczenik). The 2027 thesis: Thai LGD-set jewelry export reaches USD 1.2-2.3B on the back of BOI Section 8 finishing incentives, GIT certification recognised by US, EU and Japan buyers, Pandora's 100 percent LGD strategy, Tiffany and LVMH experimental LGD lines, and Lazada, Shopee, TikTok direct-to-consumer channels.

Open report →

Atlas actors in this figure's reports

Profiles covered in the report that cite this number.

Gem and Jewelry Institute of Thailand (GIT)

Thai state gemological institute; provides gem testing, grading certification, and industry education for the USD 12B Thai jewelry export sector.

Pranda Jewelry

SET-listed Thai jewellery manufacturer; OEM production base plus owned-brand portfolio (Prima Gold, Cai, JuliJ).

Natural-diamond wholesale price decline (2023-2025) · Insight