Updated Engagement Ring Market Forecast Starts at $88.26 Billion in 2026

Global demand for engagement rings is sizable and climbing: Intelmarketresearch reports that the global engagement ring market size was valued at USD 87.5 billion in 2025 and that the market is projected to grow from USD 92.3 billion in 2026 to USD 132.8 billion by 2034 at a 5.7% CAGR. That projection frames engagement rings as a distinct segment within an expanding diamond and jewelry complex.

A separate updated forecast, last updated Feb 10, 2026, lists a projected engagement-ring market starting at USD 88.26 billion in 2026. The two mid-2020s baselines differ by a few billion dollars, and a blog post from Neckersjewelers offers an outlier figure—“The global engagement ring market size is estimated to reach $11 million by 2028, with a forecasted CAGR of 6.65% from 2024 to 2031”—a claim that contrasts sharply with the professional research figures and warrants caution.

The broader diamond jewelry market sits at much larger totals. Futuremarketinsights states that the diamond jewelry market is set to reach USD 408.2 billion in 2026 and that revenues are expected to expand at a 4.8% CAGR, pushing the market to USD 652.4 billion by 2036. Futuremarketinsights’ FAQ lines also show the market expected at USD 389.5 billion in 2025 and forecast to reach USD 622.5 billion by 2035, underscoring consistent mid-hundreds-of-billions sizing across FMI’s outputs.

Segmentation data show a clear split between natural and lab-grown diamonds. Icecartel reports: “Natural Diamond — Market Size (USD) 42.74 Billion; Global Revenue Share 71%; CAGR (2025–2033) 2.7%; Bridal Market 54% of U.S. engagement rings.” Icecartel further reports: “Lab-Grown Diamond — Market Size (USD) 28.27 – 30.88 Billion; Global Revenue Share 29%; CAGR (2025–2033) 14.11%; Bridal Market 46% of U.S. engagement rings.” Icecartel also notes, “A significant number of Gen-Z are preferring LGD alternatives as a bridal essential. Natural diamonds are now repositioning as a rare and investment asset.”

Personalization and digital channels are accelerating value capture. Icecartel reports that the Personalized Jewelry Market exhibited a CAGR of 8.4% and “will grow from USD 56.87 billion (2026) to USD 118 billion by 2035 at a CAGR of 8.4%.” Icecartel adds that “Personalization options (like bespoke engravings and birthstones) have been shown to drive an 88% conversion uplift in retail campaigns” and that “Custom services allow for 25% higher profit margins compared to standard ready-to-wear collections.” On channels and tech, Icecartel cites Dojo Business that “The online jewelry market size is growing at a CAGR of 13.8%, far outpacing the 5% growth of traditional offline retail.” Icecartel also quotes Coherent Market Insights that “AI in retail is expected to be valued at USD 13.86 billion by 2026. Retailers using AI experience 5–15% annual revenue growth.”

Regional and category notes give practical color for buyers and retailers. Intelmarketresearch highlights South America specifics: “Brazil leads regional engagement ring consumption with vibrant designs and cultural emphasis on elaborate proposals. Argentine markets favor classic European styles, while Andean countries maintain strong indigenous jewelry traditions alongside modern diamond rings. Economic volatility impacts premium segment but fuels demand for alternative metals and smaller carat weights among cost-conscious buyers.” Futuremarketinsights projects that women will hold a 60.5% end-user share and that jewelry stores will retain a 37.6% sales-channel share in 2026, with earrings expected to hold a dominant 45.0% product share that year.

Data divergence matters for sourcing and pricing decisions. MarketResearchFuture places the larger gems and jewellery market at USD 438.36 billion in 2024, rising to USD 453.62 billion in 2025 and to USD 638.77 billion by 2035 at a 3.48% CAGR, reinforcing that engagement rings sit within a far larger industry. Given the different scopes and methodologies across Intelmarketresearch, Futuremarketinsights, Icecartel, MarketResearchFuture, and the Neckersjewelers blog, confirm which definition—engagement rings only, diamond jewelry, or broader gems and jewellery—underlies any figure before using it in pricing, appraisals, or sourcing.

Have you bought, sold, or priced an engagement ring recently? Tell us what you paid and whether lab-grown or natural stones shaped your choice.