Beyond the Mine: How Lab Grown Diamonds Are Reshaping the Gemstone Industry

The Lab Grown Diamonds Market Size is characterized by a high level of competitiveness, with numerous market players engaged in continuous research and development. The industry includes a detailed analysis of key competitors, encompassing company overviews, revenue, market potential, investment in R&D, global presence, product launches, and application dominance. SWOT analysis is employed to assess the strengths and weaknesses of major manufacturers in the industry.

Recent developments include partnerships aimed at enhancing the quality of lab grown diamond production. For instance, New Diamond Technology focuses on innovative approaches and technologies, collaborating with international research institutes to contribute to the overall diamond market. Additionally, WD Lab Grown Diamonds achieved third-party sustainability certification and 100% climate neutrality, naming Australia-based JC Jewels Pty Ltd as their authorized distribution partner in Australia and New Zealand.

Estimated Growth Rate for Lab Grown Diamonds Market

The Lab Grown Diamonds Market size was valued at USD 28.24 Billion in 2024 and the total Lab Grown Diamonds revenue is expected to grow at a CAGR of 9.4% from 2025 to 2032, reaching nearly USD 57.95 Billion.

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Regional Analysis :

Over the course of the forecast period, the lab-grown diamonds market in North America is anticipated to expand rapidly. This is explained by the region's high level of R&D activity, extensive technological advancements, and the presence of important businesses. In 2024, the regional market for lab-grown diamonds was dominated by the US market. The US accounts for around half of the world's consumer demand for diamonds, up from over 50% in 2024. The majority of lab-grown diamonds are included in this as well.

Over the course of the forecast period, the Asia Pacific lab-grown diamonds market is anticipated to expand at a high compound annual growth rate. Since India is a major player in the world diamond market, Finance Minister Nirmala Sitharaman has primarily focused on lab-grown diamonds. In the nation, the customs tax on the seeds used to make these gems has been lowered. To help the development of lab-grown diamonds in India, she gave IITs a donation. Approximately 3 million lab-grown diamonds are produced annually in the nation, making up 15% of the world's total production. The expansion of the regional market is anticipated to be significantly aided by these government efforts in India. The other major producer, China, has a massive laboratory.

Lab Grown Diamonds Market Segmentation:

by Nature

Colorless
Colored

by Manufacturing Method

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

Chemical Vapor Deposition (CVD) and High Pressure High Temperature (HPHT) comprise the market. The Chemical Vapor Deposition (CVD) segment is anticipated to expand at a high compound annual growth rate (CAGR) over the forecast period. This new technique for creating lab-grown diamonds contributes to the production of high-quality diamonds with minimal impurities. There is better control over the growth process with this manufacturing technology. The need for CVD techniques is anticipated to rise as a result of these causes.

by Size

2-4 carat
Below 2 carat
Above 4 carat

by Type

Polished
Rough

by Application

Fashion
Industrial

There are two segments of the market: fashion and industrial. In 2024, the Fashion segment accounted for the greatest share of the Lab Grown Diamonds market, and it is anticipated to rise at a high compound annual growth rate (CAGR) over the forecast period. Man-made diamonds now account for around 9% of the specialized diamond jewelry market, a significant increase from The push to make lab-grown diamonds more widely available is being spearheaded by a few of the biggest jewelry shops. For instance, in an attempt to market sustainable jewelry, Pandora, the biggest jewelry firm in the world, is anticipated to switch from using mined diamonds to lab-created diamonds in their pieces.

by Distribution Channel

Online
Offline

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Key Players :

Discover strategies of the key players in the market and explore how they are navigating trends, expanding their portfolios, and capitalizing on emerging applications. From global leaders to regional influencers, this report provides a complete competitive analysis.

1. Swarovski
2. Clean Origin
3. Vibranium Lab
4. Diamond Foundry
5. 12FIFTEE
6. RITANI
7. CVD Diamond Inc
8. LUSIX
9. Craft Lab Grown Diamonds
10. De Beers Group
11. New Diamond Technology
12. Henan Huanghe Whirlwind CO., Ltd.
13. Mittal Diamonds
14. ABD Diamonds Pvt. Ltd
15. WD Lab Grown Diamonds
16. Diam Concept
17. HEYARU Group
18. Eco Lab Diamonds
19. Panora
20. Kimaï
21. VRAI
22. Queensmith
23. Brilliant Earth
24. RITANI
25. James Allen

For deeper market insights, peruse the summary of the research report:https://www.maximizemarketresearch.com/market-report/lab-grown-diamonds-market/193972/

Key Highlights:

• Historical Market Data (2019-2024)
• Forecasts by Segment, Region, and Industry Application (2025-2032)
• SWOT Analysis, Value Chain Insights, and Growth Drivers
• Legal Aspects by Region and Emerging Opportunities

Top Questions Answered:

• What are the key growth drivers and trends in the market?
• Who are the major players, and how do they maintain a competitive edge?
• What new applications are poised to revolutionize the Lab Grown Diamonds industry?
• How will the market grow in the coming years, and at what rate?

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