The Lab Grown Diamond Market is projected to grow at a strong CAGR of 13.42% through 2034, driven by sustainability, affordability, and expanding applications.
NY, UNITED STATES, February 7, 2026 /EINPresswire.com/ — The global lab grown diamond market size was valued at USD 29.46 billion in 2025. The market is projected to grow from USD 33.54 billion in 2026 to USD 91.85 billion by 2034, exhibiting a CAGR of 13.42% during the forecast period. The market is witnessing significant growth globally as consumer preference shifts toward sustainable, ethical, and cost-effective alternatives to mined diamonds. Lab grown diamonds, produced using advanced technologies such as High Pressure High Temperature (HPHT) and Chemical Vapor Deposition (CVD), possess the same physical, chemical, and optical properties as natural diamonds. Their increasing acceptance across jewelry and industrial sectors is transforming the global diamond industry landscape.
➡️ Lab Grown Diamond Market Overview
The lab grown diamond market has emerged as a high-growth segment within the global gemstone and materials industry. Rising awareness about environmental conservation, ethical sourcing, and affordability has accelerated demand for lab grown diamonds across developed and developing economies. These diamonds offer a transparent supply chain, reduced environmental impact, and competitive pricing, making them increasingly attractive to modern consumers and industrial users alike.
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➡️ Lab Grown Diamond Market Trends
One of the most prominent trends in the lab grown diamond market is the growing preference for sustainable luxury products, particularly among millennials and Gen Z consumers. Lab grown diamonds are gaining popularity in engagement rings, wedding jewelry, and fashion accessories due to their ethical appeal and visual similarity to mined diamonds. Additionally, advancements in diamond-growing technology have improved quality, consistency, and production efficiency, further supporting market expansion.
➡️ Lab Grown Diamond Market Growth Factors
Several key factors are driving growth in the lab grown diamond market:
• Cost Advantage: Lab grown diamonds are generally more affordable than natural diamonds, enabling broader consumer adoption.
• Sustainability and Ethics: Environmentally friendly production and conflict-free sourcing appeal to ethically conscious buyers.
• Rising Jewelry Demand: Growing demand for fine and fashion jewelry is boosting market growth globally.
• Industrial Applications: Exceptional hardness, thermal conductivity, and durability make lab grown diamonds ideal for industrial tools, electronics, and semiconductor applications.
• Technological Advancements: Continuous innovation in CVD and HPHT methods is enhancing diamond quality and scalability.
➡️ Lab Grown Diamond Market Segmentation Analysis
The lab grown diamond market is segmented based on manufacturing method, size, nature, and application.
• By Manufacturing Method: HPHT technology currently dominates due to its ability to produce high-quality diamonds, while CVD technology is expected to grow rapidly due to energy efficiency and flexibility.
• By Size: Diamonds up to 2 carats account for a major market share, driven by affordability and widespread use in everyday jewelry.
• By Nature: Colorless lab grown diamonds hold the largest share due to high demand in premium jewelry, while colored diamonds are gaining popularity in fashion jewelry.
• By Application: Industrial applications lead the market due to extensive usage in cutting, polishing, and electronic components, followed by strong growth in jewelry applications.
➡️ Regional Insights
From a regional perspective, the lab grown diamond market shows strong growth across multiple regions:
• Asia Pacific dominates the global market due to large-scale production, increasing consumer demand, and strong presence of manufacturers, particularly in India and China.
• North America holds a significant market share supported by high consumer spending, technological advancements, and industrial usage.
• Europe is witnessing steady growth driven by sustainability awareness and ethical consumer preferences.
• South America and the Middle East & Africa are emerging markets, supported by rising disposable income and expanding jewelry demand.
➡️ Top Companies in the Lab Grown Diamond Market
Key players operating in the lab grown diamond market are focusing on capacity expansion, technological innovation, and retail presence to strengthen their market position. Major companies include:
• Mini Diamonds
• WD Lab Grown Diamonds
• De Beers Group
• Solitario
• Adamas One Corp
• Diamond Foundry Inc.
• Element Six
• Henan Huanghe Whirlwind Co., Ltd
• Diam Concept
• ABD Diamonds
➡️ Key Industry Developments
• August 2024 – Mini Diamonds, an India-based diamond and jewelry brand, unveiled its laboratory grown diamond jewelry shop in South Mumbai, India, through its subsidiary, Namra Jewels.
• August 2024 – Parasamani Inc., a Canadian jewelry company, collaborated with Mini Diamonds, an India-based diamond and jewelry brand. Under the partnership, Parasamani would promote Mini Diamond’s laboratory-grown diamond jewelry throughout Canada.
• July 2024 – Limelight Diamonds, an India-based lab grown CVD diamond company, launched its new store in Navi Mumbai, India. The company aimed to expand throughout the country by opening additional stores.
• May 2024 – Lightbox Jewelry Ltd, a U.S.-based laboratory grown diamond jewelry company, introduced a promotional deal and declined its product prices by up to 40% to accelerate product sales. The company offers a wide product offering, including 2 carat lab grown diamonds, lab grown pink diamonds, and 3 carat lab grown diamonds.
• August 2023 – Adamas One Corp, a U.S.-based company manufacturing laboratory-grown diamonds, acquired Flawless Allure Grown Diamonds, a Mumbai-based laboratory grown diamond company, to expand its diamond production.
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➡️ Conclusion
The Lab Grown Diamond Market is poised for substantial growth over the coming years, supported by sustainability trends, technological innovation, and increasing acceptance across jewelry and industrial applications. As ethical consumption and environmental responsibility gain importance, lab grown diamonds are expected to play a pivotal role in shaping the future of the global diamond industry.
Ashwin Arora
Fortune Business Insights™ Pvt. Ltd.
+1 833-909-2966
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