(everledger.io) - Lab-grown diamonds have been portrayed as a juggernaut that’s gathering pace in the fast lane of the precious stone freeway. The demise of the natural pearl industry, following the introduction of cultured pearls during the first decades of the 20th Century, provides a stern warning for the diamond industry. On the surface, at least, this doomsday scenario for natural diamonds is gathering momentum. According to Bain, production of lab-grown diamonds is approaching 7 million carats: double-digit growth over the past two years. Production costs are fast coming down, passing on cost savings to retailers and their consumers. From half the cost of a natural diamond in 2019, a polished lab-grown diamond now costs a third of the real thing. This downtrend looks set to encourage expansion into the wider world of fine jewellery, especially with the growth of e-commerce during the COVID-19 pandemic. If customers can’t tell the difference between natural and lab-grown, then confidence will eventually erode, as it did with pearls. Right? Well, not so fast. Objects in the rear view mirror may appear closer than they are. Dig a little deeper, and a different picture emerges. The natural diamond industry appears to have held its nerve in the face of this clear and present danger.
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13 october 2026
