The Increasing Demand For Lab-Created Diamonds

Lab-Created Diamonds
Lab-Created Diamonds
Lab-Created Diamonds
Lab-Created Diamonds

This article discusses how demand for lab-created diamonds is on the rise and that this is likely to continue due to consumer preferences for affordable jewelry. РLab-created diamonds, also known as Lab grown diamonds, have represented a large portion of total global diamond sales in recent years. According to the current predictions from research analyst Paul Zimnisky, the sales of lab growns are expected to breach 10% of total global diamond jewelry sales by 2020. This is an increase from Zimnisky’s previous forecast which predicted that man made stones would reach 8% of total global diamond jewelry sales by 2020.

The increased demand for lab-created diamonds is driving current annual growth rates to exceed more than 10 percent and the robust consumer demand is expected to continue due to their affordability and accessibility. Lab-created diamonds are becoming increasingly popular in jewelry accounting for a larger portion of diamond sales each year. This indicates that there will be continued demand for lab created stones as they become more commonly available on the market.

The growing demand for lab created diamonds has made the lab-grown diamonds market grow exponentially over the past few years. Cultured or synthetic diamonds are created in a laboratory or research facility, as opposed to mined diamonds which are taken from the ground. Efforts and investments in growing global lab created diamond markets have been rising, as has market research into their various uses in industry and jewelry. The marketing of lab-created diamonds is now more widespread than ever before, with consumers realizing their worth and beauty. The size of the market for lab-created diamonds has grown immensely, with research allied to marketing making it easier for customers to find out more about them.

Diamond Jewelry
Diamond Jewelry

Lab grown diamonds increase in popularity and many jewelry stores now sell lab grown diamonds as part of their diamond shopping options. Mined diamonds still remain popular, but many customers are now looking to purchase lab-grown diamonds due to the polished look they offer. Jewelers are offering beautiful jewelry pieces with lab-grown diamonds as the centerpiece, and most consumers find them more affordable than mined diamonds. Research has also shown that exports of LGDs have jumped significantly over the past few years, allowing consumers to save money on their shopping budget and get a better price differential when compared with mined diamonds. Data from the Gem & Jewellery Export Promotion Council (GJEPC) has also shown that consumer data is shifting towards LGDs, thanks to their lower prices in comparison with mined diamonds.

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