The Future of Laboratory-Grown Diamonds

The Future of Laboratory-Grown Diamonds: Market Trends and Industry Outlook

Laboratory-grown diamonds have experienced rapid growth over the past decade, transforming the diamond industry by offering an ethical and cost-effective alternative to natural diamonds. With advances in technology, increasing consumer acceptance, and shifting industry dynamics, lab-grown diamonds are poised to play an even greater role in the future of the jewelry market. But what does the future hold for this evolving sector? Let’s explore key trends, challenges, and opportunities shaping the future of lab-grown diamonds.

The Rise of Laboratory-Grown Diamonds

The market for lab-grown diamonds has expanded significantly in recent years, driven by improvements in production techniques such as Chemical Vapor Deposition (CVD) and High-Pressure High-Temperature (HPHT) methods. These technological advancements have enhanced the quality, size, and affordability of synthetic diamonds, making them increasingly appealing to consumers and jewelers alike.

According to industry reports, lab-grown diamonds now account for a growing percentage of global diamond sales, with some estimates suggesting they could reach 10-15% of the market within the next few years. As consumer awareness continues to rise, major retailers and brands have started incorporating lab-grown diamonds into their collections, further legitimizing their place in the luxury jewelry sector.

Sustainability and Ethical Considerations

One of the strongest selling points for lab-grown diamonds is their sustainability. Unlike mined diamonds, which require extensive land excavation and energy consumption, lab-grown diamonds offer a more environmentally friendly alternative. Many consumers, particularly younger generations, are increasingly drawn to the ethical benefits of lab-grown diamonds, as they avoid the environmental and human rights concerns associated with traditional diamond mining.

In response, major diamond producers have begun investing in sustainability initiatives to differentiate their products, but the perception of lab-grown diamonds as the more responsible choice continues to gain traction. Companies that focus on transparency, renewable energy, and carbon-neutral production methods are likely to see significant growth in this space.

Market Challenges and Consumer Perceptions

Despite their advantages, lab-grown diamonds face challenges that could impact their long-term viability. One of the primary concerns is price depreciation. Unlike natural diamonds, which historically retain value over time, lab-grown diamonds are subject to rapid price declines due to the scalability of production. This could impact their investment appeal and influence consumer purchasing decisions.

Another challenge is brand positioning. While some consumers fully embrace lab-grown diamonds as a legitimate alternative, others still view them as an inferior substitute to natural diamonds. The luxury market thrives on exclusivity, and natural diamonds continue to carry a certain prestige that lab-grown stones may struggle to match.

Industry Response and Future Outlook

Recognizing the shifting landscape, traditional diamond companies have taken various approaches to the rise of lab-grown diamonds. Some, like De Beers, have launched their own lab-grown diamond lines at competitive prices, while others focus on marketing the rarity and uniqueness of natural diamonds. As the industry adapts, we may see a clearer segmentation between high-end natural diamonds and more accessible, everyday lab-grown options.

Looking ahead, technological advancements will continue to shape the future of lab-grown diamonds. Improvements in production efficiency, clarity, and customization could further increase consumer demand. Additionally, the growing acceptance of lab-grown diamonds in sectors beyond jewelry—such as electronics, quantum computing, and industrial applications—will expand their market potential.

The future of lab-grown diamonds is bright, with continued growth expected in both the jewelry and industrial sectors. While challenges remain, the ethical appeal, affordability, and technological advancements in lab-grown diamonds position them as a formidable force in the market. As consumer preferences evolve, the diamond industry will need to adapt, ensuring that both natural and lab-grown diamonds coexist in a dynamic and competitive landscape.

Source: DCLA

Swarovski Returns to Profit, Doubles Lab Grown Sales

Swarovski returned to profit after five years, saw its 2024 revenue grow by 6 per cent and doubled its sales of lab grown diamonds.

The private, family-owned Austrian company said it was now recovering from losses during the COVID years and beyond, and said its turnaround was now “in full motion”.

The Swarovski Crystal Business, with 2,300 outlets globally, reported EUR1.9bn ($2bn) revenue for the year ending 31 December 2024.

It did not provide a detailed breakdown, but said it had achieved record sales in the US and its home market in Austria, despite “a difficult trading environment”.

Sales of Swarovski Created Diamonds more than doubled, it said, again without providing numbers.

CEO Alexis Nasard, said the company’s LUXignite strategy – transforming Swarovski into a modern “pop” luxury brand – was blending its iconic heritage with contemporary cultural relevance.

“In 2025, instability in our operating environment will likely persist, but as we celebrate our 130th anniversary our focus will remain on the disciplined execution of our strategy, with continued focus on superlative creativity, strategic investments, and financial rigor,” he said.

“Swarovski’s turnaround is in full motion, with another year of major progress, including strong organic growth and significant improvements in EBIT and cash, driven by record brand desirability, appealing product collections, and an immersive retail experience.”

Source: DCLA

New Diamond Verification Device Introduced Natural Vs. Lab Grown Diamonds

A new device, the DiamondProof, can rapidly and reliably distinguish natural diamonds from laboratory-grown diamonds and other diamond simulants.

One of the most common misconceptions in the ongoing debate between natural and non-natural diamonds is that it’s impossible to tell the difference between the two. Research shows that almost half of consumers are unaware that laboratory-grown diamonds (LGDs) can be detected from their natural counterparts. For consumers who are investing in diamonds and diamond jewelry, this means there is perhaps a lack of assurance that they are getting what they think they are paying for. This spring, with the introduction of a new verification device, the DiamondProof, to retail stores for the first time, consumers will be able to make informed purchasing decisions and distinguish natural diamonds from non-natural diamonds, like LGDs and other diamond simulants, with a zero percent ‘false positive rate’.

Developed by the De Beers Group, the DiamondProof technology can detect the distinct chemical compositions of natural diamonds, allowing for precise and rapid identification. Early adopters of the DiamondProof include some of the largest jewelry retailers in the U.S., and the device will also be available in several independent retail outlets to ensure that any diamond consumer can try out the technology and gain assurance on their jewelry, or diamonds they are planning to purchase. The first DiamondProof prototype instrument was unveiled last June at the JCK show in Las Vegas, the premier jewelry expo for retail professionals. Many quickly jumped on board and ordered the device for their stores, noting the ability to rapidly and easily screen both loose diamonds as well as stones set in jewelry. “Natural diamonds and lab-grown diamonds are two fundamentally different products. Natural diamonds are rare, one-of-a-kind miracles of nature that come to us from the earth through heat, pressure, and time.” notes CEO of De Beers Brands Sandrine Conseiller. “This incredible journey is what makes them the ultimate marker of life’s most profound emotional moments. Consumers should be able to have confidence in such a meaningful purchase, and DiamondProof allows retailers to offer them greater peace of mind. We are in a new era of transparency at retail, and customers deserve to know what they are buying.”

“By rapidly and reliably identifying whether a diamond is natural, DiamondProof is instrumental in enhancing consumer confidence in natural diamond purchases. Consumers deserve clarity and having DiamondProof available in retail settings helps them make informed decisions while appreciating the unique value and story behind each natural diamond. With decades of leadership in synthetic-detection technology, we are committed to providing the level of transparency that consumers expect,” stated Sarandos Gouvelis, SVP, of Pricing, Product and Technology Development at De Beers Group. For anyone looking to evaluate and verify their diamond jewelry or looking for assurance in new diamond purchases, a major retailer near you will soon have a DiamondProof available.

Source: DCLA

52% of Engagement Rings are Now Lab Grown

More than half of all couples are now buying a lab grown diamond engagement ring, according to research carried out in January for The Knot wedding website.

A survey of almost 17,000 couples who married in 2024 found that 52 per cent opted for lab grown – the first time the balance has tipped from natural.

The figure for 2023 was 46 per cent and in 2019 it was just 12 per cent.

Couples are now spending less and getting bigger stones, according to the newly-published The Knot 2025 Real Weddings Study.

“The rise in popularity of lab-grown stones is fueling the decrease in the average cost of an engagement ring,” it says.

“2024 served as a continuation of that trend with proposers spending $5,200 on average for their ring. This is a decline from $5,500 in 2023, and $5,800 in 2022.

“Back in 2021, it was $6,000. Lab-grown stones typically begin at a lower price point than mined stones which is reflected in the average cost.

“A proposer purchasing a lab-grown engagement ring could expect to spend $4,900 versus spending $7,600, on average, for a mined diamond engagement ring.”

The average carat weight of an engagement ring bought last year was 1.7 carats, says the study, up from 1.5 carats in 2021.

Source: DCLA

Environmental Backlash over Diamond Foundry Factory

Diamond Foundry, which has just opened a lab grown factory in Trujillo, western Spain, is facing an environmental backlash over claims it uses more water than the entire 8,500-population town where it is located.

Residents at a meeting earlier this month were told the new facility, built with $85m of European Union cash, was estimated to consume more than 730,000 cubic meters of water annually.

The huge facility will produce at least 4m carats a year and create 300 jobs. But environmental groups are concerned about the factory’s water usage, which is, they say “completely unsustainable”.

“There would be enough water for the diamonds but the population of Trujillo would have to buy jugs at the supermarket to drink, shower, cook, etc,” says an article in

Diamond Foundry, a Silicon Valley startup with Leonardo Dicaprio, star of the Blood Diamond movie, among its backers, is valued at $1.8bn.

“The water supply to Diamond Foundry is, once again, also in question, as it would cause serious supply problems for drinking water for the population of Trujillo and its surroundings,” according to the El Salto local news website.

It says the building is one of the first industrial projects in the world powered entirely by solar electricity and insists it holds the necessary permits to use reclaimed water from local treatment plants.

Source: DCLA

Lab-Grown Diamonds: A Game Changer in the Diamond Industry

The diamond industry is undergoing a seismic shift, driven by the rising popularity of lab-grown diamonds. Once considered a niche alternative, these scientifically engineered gems are now mainstream, offering a more affordable and ethically sourced option compared to their natural counterparts. This surge in demand is putting pressure on the traditional diamond market, challenging industry norms and reshaping consumer preferences.

Lab-grown gems putting pressure on the diamond industry

Lab-grown diamonds are chemically, physically, and optically identical to natural diamonds. They are created using advanced technological processes that replicate the conditions under which diamonds form in the Earth’s mantle. As a result, they offer the same brilliance, hardness, and durability as mined diamonds, but at a significantly lower price point.

With consumers becoming more conscious of sustainability and ethical sourcing, lab-grown diamonds are increasingly seen as a viable alternative to mined stones. This shift in preference is sending shock waves through the traditional precious gems market, compelling industry players to adapt to evolving trends.

Why You Need Expert Guidance When Buying Diamonds

While lab-grown diamonds present an attractive option, navigating the diamond market—whether natural or lab-created—requires expert guidance. With the influx of synthetic diamonds, ensuring that you are purchasing a high-quality stone from a reputable source is crucial. This is where independent diamond certification becomes essential.

DCLA: Sydney’s Most Trusted Diamond Laboratory

When it comes to protecting your investment and ensuring the authenticity of your diamond, the Diamond Certification Laboratory of Australia (DCLA) in Sydney is the best option. DCLA is one of the only internationally recognised and independent diamond grading laboratories in the world, adhering to strict grading standards to provide unbiased, accurate diamond certification.

Source: DCLA

Trump Diamond – a Lab Grown Gift from India to US

A diamond manufacturer in India has created a lab grown replica of Donald Trump, as a symbol of the country’s strong ties with the US.

The 4.30-carat stone is the work of Surat-based Greenlab, the company that made the 7.5-ct F / VVS2 gem that was presented by India’s Prime Minister Narendra Modi to then-US First Lady Jill Biden in June 2023.

Greenlab, which produces 1.5m lab grown carats a year, says it took two months to grow the Trump diamond, and it plans to present it to the newly sworn-in president as a gift.

“This 4.7-carat masterpiece is a symbol of our appreciation for leadership and our deep connection with the US market,” said company director Smit Patel.

Source: DCLA

India’s Government Urged to Adopt Lab Grown Rules

India’s government is being urged to adopt the same rules on lab grown terminology as the US.

The GJEPC (Gem & Jewellery Export Promotion Council) says its 7,000-plus members are now required to adhere to the rules introduced by the US Federal Trade Commission (FTC) in 2016 and amended two years later. They have also been adopted by many other countries.

“Since India’s gem and jewellery trade has unanimously accepted the FTC’s new definition with respect to diamonds, we urge the Indian government and ministries to accept, adopt and adapt the same to existing consumer laws of our country.”

The FTC provides detailed guidance on exactly what forms of words can be used. It says: “If you sell laboratory-created diamonds, you should tell consumers that they are not mined diamonds by describing them as “laboratory-grown,” “laboratory-created,” “[manufacturer name]-created,” or some other word or phrase of like meaning so as to disclose, immediately preceding the word “diamond” and equally conspicuously, the nature of the product and the fact it is not a mined diamond.”

Smit Patel, convener of the GJEPC’s lab-grown diamond panel, said: “We have urged the government to align with the advancements and economic significance of lab-grown diamonds by adopting a forward-looking policy framework.”

The Indian government says its Central Consumer Protection Authority (CCPA) has organized a stakeholder consultation on consumer protection for the diamond sector, following representations from the GJEPC.

Source: DCLA

Another Big Drop for India’s Rough Exports

India’s exports of polished diamonds suffered yet another big fall in September, down 22.9 per cent, according to the latest figures from the GJEPC (Gem and Jewellery Export Promotion Council).

That’s a marginally better performance than August, when year-on-year exports were down by 23.8 per cent. Between April and September total foreign sales fell 20.6 per cent (all figures in US dollars).

Actual monthly sales tell a different story from year-on-year decreases. Total foreign sales for September were $1.29bn, compared to $1.04bn in August and $908m in July.

Across the whole gems and jewelry industry in India, gross exports were $2.54bn, down 15.9 per cent year-on-year (compared to 22.9 per cent for polished diamonds).

Exports of polished lab growns – still a tiny minority of all diamond sales – were down 16.5 per cent to $111m.

Source: DCLA

Call for Clear Lab Grown Labels in India

Lab grown Diamonds

The Indian government is facing calls to adopt US guidelines to distinguish lab growns from natural diamonds.

The 10,000-member GJEPC (Gems and Jewellery Export Promotion Council) says there is widespread confusion in the way diamonds are marketed and advertised.

It says India should adopt the US Federal Trade Commission (FTC) guidelines, which say there must be a “clear and conspicuous” indicating that a diamond is man-made.

They also say the term “diamond” without qualification can only be used to refer to a natural, mined diamond.

And lab growns cannot be described as “real,” “genuine,” “natural,” or “precious” without additional qualifying language.

The GJEPC has written to India’s Department of Consumer Affairs calling for strict rules to differentiate between natural and lab grown.

“The absence of standardised guidelines on diamond terminology leads to ambiguity,” it says.

“And there are no mandatory disclosure requirements to indicate whether a diamond is lab-grown or natural to the consumer.”

Source: DCLA

Lab Grown Companies Move to Near-Empty Surat Bourse

The near-empty Surat Diamond Bourse (SDB) is hoping the arrival of around 40 lab grown traders will signal a change in its fortunes.

The vast new center, recognized by Guinness World Records as the largest office building in existence, was officially opened last December by India’s prime minister Narendra Modi .

It has a capacity of 4,500 offices, but remains virtually empty.

The bourse has, according to local media reports, now reached an agreement with the Lab Grown Diamond Association (LGDA) to relocate around 40 lab grown companies from elsewhere in Surat.

Mahesh Gadhvi, CEO at SDB, said recently that 250 offices were currently occupied (that’s less than 6 per cent of the total).

“Steadily we are progressing towards opening more offices and starting more businesses from SDB,” he told the business news channel CNBC.

Source: DCLA

Lab Grown Discussions at AGS Confluence

The American Gem Society (AGS) will present panel discussions on lab grown diamond pricing and supply, advances in lab grown identification and the art of natural diamond storytelling.

The three-hour Confluence is an online-only event, featuring three pre-recorded sessions, designed to allow the speakers to take part in a live chat Q&A.

The event is scheduled for 25 September and will be accessible to non-AGS members for a $150 fee. The sessions will remain available, on demand, until 31 December.

The Importance of Diamond Screening: Challenges, Techniques, and Resources covers the latest screening technologies and their limitations, providing guidance on using gemological instruments for verification.

Laboratory-Grown Diamonds: Pricing, Supply, and Disclosure explores the complexities of the lab grown diamond market, including pricing dynamics and the importance of transparency.

And The Incredible Story of Natural Diamonds delves into the geological history and mining processes of natural diamonds, featuring insights from experts at GIA , which is sponsoring the event.

AGS is a nonprofit trade association representing a select group of jewelers, independent appraisers, and suppliers in the jewelry industry.

Source: DCLA