Lab Grown Diamonds Market Size, Share, Trends, Industry Analysis, and Forecast (2025 – 2031)

Lab Grown Diamonds Market Size
The global lab grown diamonds market size was valued at $28.56 billion in 2025 and is projected to reach $53.99 billion by 2031, growing at a CAGR of 11.2% during the forecast period.

Lab Grown Diamonds Market Overview
Lab-grown diamonds are created in controlled laboratory environments using advanced technologies that replicate the natural processes by which diamonds form deep within the Earth. These diamonds are chemically and physically identical to mined diamonds but are produced much more quickly and sustainably, typically taking weeks rather than billions of years. The growing demand for lab-grown diamonds is largely driven by increasing consumer awareness of ethical and environmental issues associated with traditional diamond mining, as well as significant advancements in production technologies such as Chemical Vapor Deposition (CVD) and High-Pressure High-Temperature (HPHT) methods. 
Companies can benefit from this trend by capitalizing on the rising consumer preference for sustainable and affordable alternatives to natural diamonds. For instance, Goldiam International, a key player in the lab-grown diamond market, reported revenue of approximately Rs 554.29 crore in the last fiscal year, with a significant portion attributed to their lab-grown diamond jewelry offerings. Additionally, the Indian government’s Production-Linked Incentive (PLI) scheme is fostering growth in this sector, further enhancing the competitive landscape.

Lab Grown Diamonds Market Dynamics
The lab grown diamonds market is expected to witness significant growth in the future due to the increasing consumer demand for sustainable and ethically sourced jewelry, technological advancements in production methods, and affordability of lab-grown diamonds, typically 30-40% less expensive than mined diamonds. However, the consumer perception issues regarding the value and authenticity of lab-grown diamonds compared to natural diamonds, ongoing competition from the traditional natural diamond market promoting its uniqueness and heritage, and price erosion due to increased production capabilities and market entry of new players are restraining the growth of the market.

Furthermore, growing interest in personalized and customizable jewelry options using lab-grown diamonds, increasing demand for lab-grown diamonds in industrial applications beyond jewelry, and potential for expansion in emerging markets with rising disposable incomes, such as India and China are the key trends propelling the lab grown diamonds market. 

Increasing Consumer Demand for Sustainable and Ethically Sourced Jewelry is Driving the Lab Grown Diamonds Market
The increasing consumer demand for sustainable and ethically sourced jewelry is significantly impacting the lab grown diamondsmarket, by driving both innovation and market expansion. This surge is reflected in the actions of major jewelry brands; 
• For instance, Tiffany & Co. launched a new collection featuring lab-grown diamonds, signaling a strong endorsement of this trend. 
• Additionally, Pandora announced in 2023 that it would stop using mined diamonds altogether, focusing exclusively on lab-grown options to meet rising consumer demand for ethical products. 
• Similarly, Prada introduced its first collection featuring lab-grown diamonds in March 2024 as part of its commitment to sustainability, showcasing innovative designs and materials, including certified recycled gold.
• Furthermore, Kendra Scott debuted its Lab Grown Diamond Collection on March 25, 2024, offering fine jewelry styles at more accessible price points, which aligns with consumer preferences for ethical sourcing and affordability. 
The acceptance of lab-grown diamonds is also evident in the retail sector; 
• Macy's and Blue Nile have expanded their offerings to include lab-grown diamonds due to heightened customer demand. 
Approximately 70% of Millennials and Gen Z consumers prefer lab-grown diamonds for their ethical and environmental benefits, as these diamonds generate 85% less carbon emissions compared to mined counterparts. This shift towards sustainability is not just a trend but a transformative movement within the jewelry industry, positioning lab-grown diamonds as a mainstream choice for modern consumers seeking luxury without compromising their values.

By Size, the 2-4 Carat Segment is projected to be the Largest Segment in the Lab Grown Diamonds Market
2-4 carat is the largest segment in the lab grown diamonds market, driven by rising consumer preferences for larger, ethically sourced stones, particularly among Millennials and Gen Z. This demographic is increasingly prioritizing sustainability and affordability, with lab-grown diamonds typically priced 30-40% lower than their mined counterparts. 
Companies are actively responding to this trend; 
• For instance, Brilliant Earth launched a new collection of 2-4 carat lab-grown diamond engagement rings in January 2024, emphasizing ethical sourcing and customizable options. 
• Additionally, James Allen introduced a line of lab-grown diamonds in the same carat range in March 2024, catering to consumers looking for high-quality yet affordable options. 
• Government initiatives also support this growth; in 2023, the Indian government announced a promotional scheme aimed at enhancing the production of lab-grown diamonds, which is expected to increase availability and drive down prices further. 
As consumer awareness regarding the environmental impact of mined diamonds continues to rise, coupled with advancements in production technology that have reduced costs by up to 40%, the 2-4 carat segment is well-positioned for robust growth in the coming years.

By Geography, North AmericaHolds the Largest Share in the Market Revenue
North America holds the largest share of the lab grown diamondsmarket, driven by a significant shift towards sustainability and ethical sourcing among consumers. This growth is largely fueled by consumer preferences, particularly among Millennials and Gen Z, with around 70% of these demographics favoring lab-grown diamonds due to their ethical implications and lower environmental impact, generating 85% less carbon emissions than mined diamonds. 
Companies are actively responding to this trend; 
• For example, De Beers Group launched its Lightbox Jewelry line in October 2023, which offers lab-grown diamonds at accessible prices, catering to budget-conscious consumers. 
• Similarly, Tiffany & Co. introduced a collection featuring lab-grown diamonds in 2023, reflecting the brand's commitment to sustainability. 
Additionally, the U.S. government has recognized lab-grown diamonds as legitimate gemstones, allowing manufacturers to market them transparently as ""cultured"" or ""aboveground,"" which enhances consumer trust and acceptance. This regulatory support, combined with increasing disposable incomes and a growing number of retailers incorporating lab-grown diamonds into their offerings, underscores the robust demand for these products in North America.

Key Target Audience:
• Millennials 
• Women Purchasing Jewelry for Themselves
• Upgraders  
• Eco-Conscious Consumers
• Jewelry Retailers and Brands

List of the Key Players Profiled in the Report Includes: 
• WD Advanced Materials
• De Beers Group
• ABD Diamonds
• Mittal Diamonds
• Diam Concept 
• Diamond Foundry
• Henan Huanghe Whirlwind CO., Ltd.
• Bhanderi Lab Grown Diamonds
• Swarovski AG
• New Diamond Technology LLC

Recent Developments:
• In March 2025, De Beers Group, through its Lightbox Jewelry brand, continued to expand its lab-grown diamond offerings with new collections emphasizing affordable, ethically sourced, and fashion-forward designs. The company highlighted advances in CVD technology enabling higher-quality diamonds with improved clarity and color grades, reinforcing its commitment to sustainability and transparency.
• In early 2025, Diamond Foundry announced the launch of larger lab-grown diamonds exceeding 10 carats using advanced CVD processes, targeting luxury jewelry markets with premium quality stones. The company also emphasized its zero-carbon production facilities powered by renewable energy, aligning with growing consumer demand for environmentally responsible products.
• In January 2025, Swarovski AG introduced a new line of lab-grown diamond simulants and genuine lab-grown diamonds designed for high-end fashion and fine jewelry applications. Swarovski’s innovation focuses on precision cutting and enhanced brilliance, expanding its portfolio to meet rising market demand for sustainable luxury.
• In November 2023, WD Advanced Materials announced its launch as a new entity focused on technical diamond applications following its transition from WD Lab Grown Diamonds. The company aims to leverage its manufacturing operations to drive next-generation diamond applications for scientific and industrial markets, including electronic and quantum technologies.

Market Segmentation:
The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:

Market by, Manufacturing Method: 
• HPHT 
• CVD

Market by, Nature:
• Colorless
• Colored

Market by, Size: 
• Below 2 carat
• 2-4 carat
• Above 4 carat

Market by, Application:
• Fashion
• Industrial

Market by, Geography:
The lab grown diamonds market report also analyzes the major geographic regions and countries of the market. The regions and countries covered in the study include:
• North America (The United States, Canada, Mexico), Market Estimates, Forecast & Opportunity Analysis
• Europe (Germany, France, UK, Italy, Spain, Rest of Europe), Market Estimates, Forecast & Opportunity Analysis
• Asia Pacific (China, Japan, India, South Korea, Australia, New Zealand, Rest of Asia Pacific), Market Estimates, Forecast & Opportunity Analysis
• South America (Brazil, Argentina, Chile, Rest of South America), Market Estimates, Forecast & Opportunity Analysis
• Middle East & Africa (UAE, Saudi Arabia, Qatar, Iran, South Africa, Rest of Middle East & Africa), Market Estimates, Forecast & Opportunity Analysis

The report offers insights into the following aspects:
• Analysis of major market trends, factors driving, restraining, threatening, and providing opportunities for the market.
• Analysis of the market structure by identifying various segments and sub-segments of the market.
• Understand the revenue forecast of the market for North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
• Analysis of opportunities by identification of high-growth segments/revenue pockets in the market.
• Understand major player profiles in the market and analyze their business strategies.
• Understand competitive developments such as joint ventures, alliances, mergers and acquisitions, and new product launches in the market.

Table Of Content

1 Market Introduction             
    1.1 Market Definition         
    1.2 Research Scope and Segmentation         
    1.3 Stakeholders         
    1.4 List of Abbreviations         
              
2 Executive Summary             
              
3 Research Methodology             
    3.1 Identification of Data         
    3.2 Data Analysis         
    3.3 Verification         
    3.4 Data Sources         
    3.5 Assumptions         
              
4 Market Dynamics             
    4.1 Market Drivers         
    4.2 Market Restraints         
    4.3 Market Opportunities         
    4.4 Market Challenges         
              
5 Porter's Five Force Analysis             
    5.1 Bargaining Power of Suppliers         
    5.2 Bargaining Power of Buyers         
    5.3 Threat of New Entrants         
    5.4 Threat of Substitutes         
    5.5 Competitive Rivalry in the Market         
              
6 Global Lab Grown Diamonds Market by, Manufacturing Method             
    6.1 Overview         
    6.2 HPHT         
    6.3 CVD         
              
7 Global Lab Grown Diamonds Market by, Nature             
    7.1 Overview         
    7.2 Colorless         
    7.3 Colored         
              
8 Global Lab Grown Diamonds Market by, Size             
    8.1 Overview         
    8.2 Below 2 carat         
    8.3 2-4 carat         
    8.4 Above 4 carat         
              
9 Global Lab Grown Diamonds Market by, Application             
    9.1 Overview         
    9.2 Fashion         
    9.3 Industrial         
              
10 Global Lab Grown Diamonds Market by, Geography             
    10.1 Overview         
    10.2 North America         
             10.2.1 US
             10.2.2 Canada
             10.2.3 Mexico
    10.3 Europe         
             10.3.1 Germany
             10.3.2 France
             10.3.3 UK
             10.3.4 Italy
             10.3.5 Spain
             10.3.6 Rest of Europe
    10.4 Asia Pacific         
             10.4.1 China
             10.4.2 Japan
             10.4.3 India
             10.4.4 South Korea
             10.4.5 Australia
             10.4.6 New Zealand
             10.4.7 Rest of Asia Pacific
    10.5 South America         
             10.5.1 Brazil
             10.5.2 Argentina
             10.5.3 Chile
             10.5.4 Rest of South America
    10.6 Middle East & Africa         
             10.6.1 UAE
             10.6.2 Saudi Arabia
             10.6.3 Qatar
             10.6.4 Iran
             10.6.5 South Africa
             10.6.6 Rest of Middle East & Africa
              
11 Key Developments             
              
12 Company Profiling             
    12.1 WD Advanced Materials         
             12.1.1 Business Overview
             12.1.2 Product/Service Offering
             12.1.3 Financial Overview
             12.1.4 SWOT Analysis
             12.1.5 Key Activities
    12.2 De Beers Group         
    12.3 ABD Diamonds         
    12.4 Mittal Diamonds         
    12.5 Diam Concept         
    12.6 Diamond Foundry         
    12.7 Henan Huanghe Whirlwind CO., Ltd.         
    12.8 Bhanderi Lab Grown Diamonds         
    12.9 Swarovski AG         
    12.10 New Diamond Technology LLC