Singapore Diamond Exchange Chairman: Natural Diamonds Reshaping Value in Vietnam

No longer just a symbol of luxury, natural diamonds are being repositioned within the global asset system as a long-term value-preserving channel. In Vietnam, this trend is clearly highlighted at the 2026 Heritage Diamond International Conference, where international experts discuss the future of one of the world's rarest assets.

The conference, hosted by Jemmia Diamond in Ho Chi Minh City, brings together experts, international organizations, and representatives from the global diamond industry. Amidst a volatile asset market driven by geopolitics, inflation, and changes in investment behavior, natural diamonds continue to be viewed as a unique "safe haven": finite, non-renewable, and with a centuries-old trading history.

When Scarcity Becomes the Foundation of Value

Throughout the history of luxury assets, natural diamonds have always held a special position: possessing aesthetic value while also serving as a form of heirloom asset for many wealthy families worldwide.

The unique aspect of diamonds compared to many other tangible assets lies in their absolute scarcity. According to Statista's forecasts, the global supply of natural diamonds is projected to face an increasing deficit, potentially rising from around 41 million carats in 2022 to 278 million carats by 2050. In a market where supply cannot expand to meet demand, the value of an asset is often reshaped over time.

From this perspective, diamonds are not just jewelry but a form of long-term value-preserving asset in the portfolios of the global ultra-wealthy.

Diamonds in the Global Asset Structure

At the conference, international experts emphasized the shift in perception of natural diamonds: from a luxury product to a component within an asset portfolio.

The emergence of record-breaking transactions such as Pink Star ($71.2 million), Pink Legacy ($50 million), and Graff Pink ($46.2 million) continues to solidify the role of diamonds in the global high-end asset system. Furthermore, the projected global consumption of natural diamond jewelry reaching approximately $110 billion in 2025, out of a total market size of $380 billion, indicates stable demand despite economic fluctuations.

Conversely, the strong development of lab-grown diamonds has created an entirely different segment. However, according to experts, these two asset types are following separate value trajectories rather than competing directly as in the early stages.

Perspective from the Chairman of the Singapore Diamond Exchange

At the conference, Mr. Fabio Cascapera, Chairman of the Diamond Exchange of Singapore, presented notable analyses on the current differentiation of the diamond market.

Mr. Fabio Cascapera stated:

“Five years ago, synthetic diamonds were thought to be able to affect the value of natural diamonds. But by now, industry insiders understand that this is impossible. The first reason is that in the past, identifying a cultivated diamond was quite complex, requiring extremely expensive machinery. But now GIA has a 100% reliable system with much more reasonable costs. The second is that the production cost of synthetic diamonds is now almost zero, so retail prices have dropped significantly. Regarding resale value, consumers now know very well that cultivated synthetic diamonds have no resale value (trade-in value). There is now also a clear distinction in marketing. There is no longer any confusion between natural diamonds and artificial ones; they are two products for two entirely different market segments.”

According to him, the market is gradually establishing a new order, where natural diamonds serve as long-term accumulation assets, while synthetic diamonds belong to the category of consumer products in the fashion industry.

From Luxury Product to an Era of Accumulation Assets

One of the notable shifts in the market today is how investors and consumers approach diamonds.

While previously emotional factors, aesthetics, and status symbols were the primary drivers, now factors such as transparency, traceability, international certification, and long-term value are playing increasingly important roles.

Furthermore, ESG (Environmental, Social, and Governance) requirements are also becoming a new industry standard. A heritage-certified natural diamond must not only be beautiful and rare but also meet criteria for responsible mining, supply chain transparency, and contributions to local communities.

This is redefining the concept of "luxury" in the diamond industry: not just rarity, but the legitimacy of value.

Vietnam in the New Wave of the Diamond Market

In the discussion about the future of the industry, Mr. Fabio Cascapera emphasized the role of the younger generation in shaping the global diamond market.

Mr. Fabio Cascapera shared:

“The future of diamonds depends on the younger generations, with ASEAN being one of the regions with the youngest populations in the world. But today's youth demand authenticity, transparency, and sustainability; they want to find the meaning of products, and we can confirm that the diamond industry is restructuring, unifying, and modernizing.”

 

According to him, Vietnam is emerging as a market with great potential thanks to its economic growth rate, the expansion of the middle class, and increasing demand for high-end asset products. The Knight Frank Wealth Report also indicates that the number of ultra-wealthy individuals in Vietnam has increased by approximately 26% from 2021-2026, creating a new demand base for the diamond and luxury jewelry market.

The growth of this new customer segment in Vietnam is driving changes in consumption behavior. While diamonds were previously mainly associated with beauty needs, they are now gradually expanding to include value preservation and asset collection needs.

Some domestic brands have also begun to notice increasing interest in High Jewelry collections and internationally certified natural diamonds, reflecting a shift in the perception of high-end consumers.

The auction event for designs from the High Jewelry collection "Vang Son Phu Quy" (Golden Prosperity) along with the 2026 Heritage Diamond Conference marks a significant step for the diamond market in Vietnam, not only in commercial aspects but also in its ability to connect with international standards.

More importantly, the event shows that Vietnam is beginning to feature in global dialogues about natural diamonds – a field that previously revolved only around major centers like Antwerp, Dubai, or Singapore.

In this context, Jemmia's role is not only in participating in the market but also in helping to bring Vietnam closer to international standards in the diamond industry – where value is measured not only by beauty but also by transparency, scarcity, and the ability to preserve value over time.