Lab Grown Diamond Market By Product Type (Rough Lab-Grown Diamonds, Polished Lab-Grown Diamonds), By Manufacturing Method (High-Pressure High Temperature (HPHT), Chemical Vapor Deposition (CVD)), By Application (Jewelry {Rings, Necklaces, Earrings, Bracelets}, Industrial Applications {Cutting Tools, Thermal Conductors, Optical Applications, Electronics & Semiconductors}, Medical Applications {Surgical Instruments, Imaging Technologies, Biosensors}), By Nature (Colored, Colorless), By Size (Below 2 Carats, 2–4 Carats, Above 4 Carats), By Distribution Channel (Online Retail, Offline Retail), Global Market Size, Segmental analysis, Regional Overview, Company share analysis, Leading Company Profiles And Market Forecast, 2025 – 2035

Industry Outlook

The Lab Grown Diamond market accounted for USD 26.38 Billion in 2024 and is expected to reach USD 110.63 Billion by 2035, growing at a CAGR of around 13.92% between 2025 and 2035. The lab-grown diamond market in laboratories includes the production and sale of diamonds created in controlled environments using technological processes such as High-Pressure High Temperature (HPHT) or Chemical Vapor Deposition (CVD).

These diamonds possess identical physical, chemical, and optical properties as natural diamonds, except they are produced in a laboratory setting; hence, they are a more ethical and sustainable alternative. Lab-grown diamonds are becoming more popular because they are more environmentally friendly, ethically sourced, and cheaper than mined ones. The more consumers demand that their products be sustainable and conflict-free, the more this market expands.

Report Scope:

Market Dynamics

Growing demand for sustainable and ethical diamond alternatives globally.

The growing demand for sustainable and ethical diamond alternatives has driven the lab-grown diamond market's expansion. Customers who care about the environment may want to easily avoid the environmental effects and human rights violations associated with conventional mining. Lab-grown diamonds are naturally less resource-intensive and produce less trash during manufacture than their mined counterparts. Owing to technological breakthroughs, it is now financially feasible to produce these diamonds.

The rising demand is driven by a wave of millennial consumers who care about the environment and value ethical product sources over convenience. To attract customers who are looking for personalized jewelry, lab-grown diamond producers expanded their inventory of customization. Along with a few leading jewelers now housing lab-grown diamonds in their jewelry stores, accessibility has generally broadened into wider consumer markets. It has been reported that over 20% of diamond sales worldwide in recent years are made for lab-grown diamonds, which have now become a growing alternative for many customers, according to a report by the Gemological Institute of America (GIA).

Rising awareness about environmental impact of traditional diamond mining.

The rampantly rising awareness regarding the environment and ethics of mining traditional diamonds was one of the factors behind the soaring popularity of lab-grown diamonds. Lab-grown diamonds are one way of making the diamond trade a little less painful for the earth and the people who mine it. They're produced with virtually no environmental disruption or labor exploitation that often accompanies conventional mining practices, and they also come with a much clearer supply chain for consumers who want ethical sourcing.

Technological developments have sufficiently reduced the cost of producing these diamonds, and buyers seeking premium diamonds at reduced costs would come to choose these lab-grown gems. It will be increasing in demand due to changing consumption behaviors, especially among the younger generations, who seem to care more about sustainability.

The stigma surrounding synthetic diamonds continues to fade, and the market is growing for them in both gel and industry applications. Because more luxury brands rely on and use lab-grown diamonds, such diamonds are becoming even more popular in the fashion business. The fact that more and more governments are enacting regulations to enforce sustainability standards in numerous industries is contributing to the gradual acceptance of lab-grown diamonds.

Lack of standardized certification processes for lab-grown diamonds.

One major impediment to the laboratory-grown diamond market is the absence of standardized certification processes. Unlike natural diamonds that are certified to be of proper quality by such organizations as the GIA (Gemological Institute of America), lab-grown diamonds do not currently enjoy a worldwide grading system. This creates uncertainty among consumers and dealers regarding the authenticity, quality, and valuation of lab-grown diamonds. Lab-grown diamonds are vulnerable to outright fraud or merely inconsistent quality claims owing to the lack of established certification forms, which will further erode market confidence.

Establishing unambiguous rules would also prevent ethical and legal problems in the industry early on and deter potential investors. The lack of a widely recognized certification procedure has further slowed industry expansion because manufacturers and merchants are hesitant to implement the technology in the absence of a defined and uniform framework. As a result, the market has been unable to overtake the established natural diamond sector.

Rising demand for ethical and conflict-free diamond alternatives globally.

Lab-created diamond stones provide sustainable and cost-effective alternatives to consumers with strong ethical purchasing ideals in light of the growing difficulties facing the conventional diamond business. Consumers are worried about social issues and the ecology related to diamond mining. They now understand that a sustainable alternative is offered by lab-grown diamonds. Created under controlled conditions, lab diamonds exhibit all the physical and chemical properties of mined diamonds with comparatively low carbon footprints and no association whatsoever with war-stricken areas. Along with increasing interest in ethical sourcing and transparency of luxury goods, lab-grown diamonds have found their place among environmentally conscious consumers.

The buying trends are especially evident from the millennials and Gen Z, who feel strongly about sustainability. As technology develops, with decreasing production costs, this market may see significant growth, thereby increasing attractiveness for investors and consumers in search of high-quality responsible alternatives.

Technological advancements enable higher quality and larger diamonds.

Technological developments made it possible to produce larger, higher-quality diamonds with less work, especially with lab-grown diamonds. Due to advancements in HPHT and CVD processes, diamonds can now be manufactured with extreme efficiency and precision, making them nearly identical to real stones. These advances allow the production of larger diamonds with fewer imperfections to satisfy the growing consumer demand for sustainable and ethical alternatives to mined diamonds.

Lab-grown diamond production will be lowered as technology advances, making these diamonds accessible to an ever-widening market. Hence, a big opportunity would reveal itself to develop in the lab-grown diamond market, as more eco-conscious customers, jewelers, and investors looking for these affordable luxury goods will show increasing interest.

The scaling of production also creates avenues for customization, resulting in even broader applications across luxury and fashion. Furthermore, the advancement in diamond grading and certification technologies will establish more consumer confidence in lab-grown diamonds, which would only augment their popularity. As this market matures, lab-grown diamonds will redefine conventional diamond production and ownership, thereby heralding a new era of sustainable luxury.

Industry Experts Opinion

"The growth of the lab-grown diamond market is not only about ethics but also about technology and innovation. Advancements in production methods are making these diamonds more affordable and accessible. As the quality of these diamonds continues to improve, we can expect them to capture a larger share of both the fine jewelry and industrial diamond markets."

• Dr. Andrew Clark, PhD, Gemologist and Sustainability Expert.

Segment Analysis

Based on the product type, the Lab Grown Diamond market has been classified into Rough Lab-Grown Diamonds and polished Lab-Grown Diamonds. Polished lab-grown diamonds dominate the market in lab-grown diamonds. This is because the applications are now mainly limited to jewelry items like engagement rings or wedding rings at some time this segment is not limited to polished jewelry items such as adulthood gift items, or luxury items. From the consumer's perspective, it is crucial to gather stones that are aesthetically pleasing in the sense that cut, clarity, and sparkle are the primary considerations, and the market price is adjusted accordingly. Because polished lab-grown diamonds cater to both the high-end and low-end luxury markets, their demand is rising globally. The reason these polished diamonds are so popular is that they seem to be precise replicas of real diamonds.

Based on the Manufacturing Method, the Lab Grown Diamond market has been classified into High-Pressure High Temperature (HPHT) and Chemical Vapor Deposition (CVD). Chemical vapor deposition (CVD) is the more important and leading segment of the lab-grown diamond business. The reason is that it creates a high-quality diamond with more control over diamond properties and fewer inclusions than typical. They are manufactured regularly and accurately for usage in industrial and jewelry applications. The CVD process has been modified because it offers a production method that is far more sustainable and even highly scalable. This is further enhanced by cost-effectiveness and diversifiability.

Regional Analysis

The North American lab-grown diamonds market is leading owing to enhanced consumer awareness, changing attitudes towards sustainability, and advancing technologies for growing diamonds. The United States gives a strong push to the market with its huge market consumption from jewelry and several industrial applications. Consumers are now more aware of the environmental and ethical concerns regarding mined diamonds, thereby fostering lab-grown diamonds' acceptance. Therefore, the main jewelry retailers promote lab diamonds as an accessible and cost-effective option with environmental benefits.

The regulatory setup for lab-grown diamonds in North America has been more favorable than ever due to increasing clarity regarding the categorization and certification of such diamond stones. Innovations in production methods such as CVD and HPHT can raise further quality and cost-effective production of lab-grown diamonds in the region. With this improvement in consumer trust, the North American market remains in a growth trend due to the input from both luxe and mass-market retailers.

The Asia Pacific lab-grown diamond market is expanding due to rising disposable income, more awareness of sustainable practices, and important manufacturing hubs in diamond manufacturing, such as India and China, propelling the demand. India's vast diamond manufacturing infrastructure has made it one of the biggest producers of lab-grown diamonds in the world, as much of the supply comes from the country. This is compounded by the fact that consumers in this region, particularly in countries such as China and Japan, are opening up increasingly to green and ethical options for mined diamonds. Further, conventional and contemporary retail marketplaces are already catering to youthful, eco-aware friends who want to use lab-grown diamonds.

The region's diamond producers have chosen to invest in more sophisticated technologies, including High-Pressure High Temperature (HPHT) and Chemical Vapor Deposition (CVD). This area is positioned as a major center for the production and consumption of lab-grown diamonds because of the strong government support and advantageous regulations in several nations, which further enhance the market's growth trajectory.

Competitive Landscape

De Beers Group, Alrosa Group, Diamond Foundry, and Pure Grown Diamonds are some of the top companies in the fiercely competitive lab-grown diamond market. Recent developments highlight the industry's rapid growth, with companies like Diamond Foundry securing millions of dollars in funding to increase manufacturing capacity. While Alrosa took calculated steps to strengthen its sustainability initiatives, the De Beers Group was eager to sell its premium lab-grown diamonds at competitive costs under the Lightbox brand.

In addition to providing a more economical production process, improvements in manufacturing technology have guaranteed the delivery of lab-grown diamonds of superior quality. Moving into the diamond arena has increased competition as Swarovski has launched its line of lab-grown diamonds. With this evolution of events, lab-grown diamonds seem to be increasingly accepted in the mainstream, a sign these developments mark the industry's turn toward both sustainability and ethical practices.

Lab Grown Diamond Market, Company Shares Analysis, 2024

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Recent Developments:

• In February 2025, luxury jewelry brand Lark & Berry, founded by Laura Chavez, continued to support lab-grown diamonds. The brand emphasized sustainability and ethical sourcing in its designs. Lark & Berry highlighted the environmental benefits of lab-grown diamonds, appealing to eco-conscious consumers. Their commitment to transparency and responsible sourcing further strengthened their position in the luxury market.
• In November 2024, industry experts observed that the initial surge in lab-grown diamonds had slowed down. This led to an oversupply in the market, causing prices to drop. The demand didn’t keep up with the production levels, resulting in reduced prices. The market saw a shift after the early growth phase.

Report Coverage:

By Product Type

• Rough Lab-Grown Diamonds
• Polished Lab-Grown Diamonds

By Manufacturing Method

• High Pressure High Temperature (HPHT)
• Chemical Vapor Deposition (CVD)

By Application

• Jewelry
• Rings
• Necklaces
• Earrings
• Bracelets
• Industrial Applications
• Cutting Tools
• Thermal Conductors
• Optical Applications
• Electronics & Semiconductors
• Medical Applications
• Surgical Instruments
• Imaging Technologies
• Biosensors

By Nature

• Colored
• Colorless

By Size

• Below 2 Carats
• 2–4 Carats
• Above 4 Carats

By Distribution Channel

• Online Retail
• Offline Retail

By Region

North America

• U.S.
• Canada

Europe

• U.K.
• France
• Germany
• Italy
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Singapore
• Rest of Asia Pacific

Latin America

• Brazil
• Argentina
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC Countries
• South Africa
• Rest of the Middle East & Africa

List of Companies:

• De Beers Group
• Alrosa Group
• Diamond Foundry
• Pure Grown Diamonds, Inc.
• TanzaniteOne Mining Limited
• New Diamond Technology
• Swarovski AG
• Chatham Created Gems & Diamonds
• Mitsubishi Corporation RtM Japan Ltd.
• Green Rocks
• Eco Diamond, LLC
• Scio Diamond Technology Corporation
• LGD (Lab Grown Diamond)
• Synova
• Vantage Diamonds Pvt. Ltd.

Frequently Asked Questions (FAQs)