Hong Kong diamond market growth driven by gifts, study shows

Sales rise during Valentine’s Day, engagements, and Christmas.

Hong Kong’s natural diamond market is predicted to grow as the country sees heightened gifting demand, amongst other trends, a survey from NielsenIQ, Diamond Federation of Hong Kong (DFHK), and De Beers Group showed. 

Valentine's Day, engagements and weddings, and Christmas are expected to be the leading occasions for sales, accounting for 69%, 67%, and 59% of demand, respectively, the groups said in their Hong Kong Natural Diamond Trade Survey Report 2025.

The diamond trade survey conducted in August included 200 respondents, comprising members of DFHK, retailers, wholesalers, and manufacturers.

Nearly half of the respondents expect positive performance in the natural diamond market over the next 12 months, whilst 33% expect stability, they said.

Meanwhile, 46% of industry players plan to increase their investment in promotions, with 40% maintaining their current levels of investment.

Amongst consumers, the survey showed that price, the 4Cs (carat, cut, colour, clarity), and certification are their primary considerations when purchasing natural diamonds.

Rings remain a strong seller with a significant preference for diamonds weighing between 0.5 and 1 carat and priced around $25,000.

Consumers prioritise simplicity and emotional resonance in their jewellery choices. Social media platforms, particularly Xiaohongshu, were channels for engagement and discovery of products, they added.

Fifty-one percent of respondents rated the effectiveness of current government support as fair, with 68% highlighting the need for tourism campaigns to attract luxury shoppers.