Nosiphiwo Mzamo: South Africa’s State Diamond Trader to buy diamonds from other African countries

South Africa’s State Diamond Trader (SDT) is set to buy diamonds from other African countries starting with Botswana. SDT’s chief executive Nosiphiwo Mzamo told Rough & Polished’s Mathew Nyaungwa at the country’s inaugural diamond show, which...

10 february 2025

Edahn Golan: Halo effect from lab-grown diamonds driving high demand for large, 2-carat natural stones in the U.S.

Edahn Golan, owner of the eponymous Edahn Golan Diamond Research and Data, told Rough & Polished's Mathew Nyaungwa in an exclusive interview that their research found a halo effect from lab-grown diamonds. He said the trend among lab-grown diamond...

27 january 2025

Paul Zimnisky: We will see a modest recovery in natural diamond demand and prices in 2025

According to Paul Zimnisky, an independent diamond and jewellery analyst and consultant based in the New York metro area, the natural diamond industry will see a modest recovery in demand and prices this year. Zimnisky said a moderate recovery would...

13 january 2025

African Diamond Council makes traceability its top priority, wants KP to embrace Authentia.io

The African Diamond Council (ADC) has made traceability its foremost priority and has been contributing to a traceability solution called Authentia.io for the last three and a half years, which is now ready to globally satisfy the traceability...

16 december 2024

Gaetano Cavalieri: CIBJO leading the jewelry industry on critical issues

One of the gem and jewellery industry’s most well-known and respected personalities, Dr. Gaetano Cavalieri, has been the president of the World Jewellery Confederation (CIBJO), for the past 23 years. CIBJO is the oldest international organisation...

09 december 2024

Lab Grown Diamonds Market to reach $55.6 bn at 9.8% CAGR during 2022 to 2031

16 january 2024

According to a report published by Allied Market Research, the lab grown diamonds market size was valued at $22.3 bn in 2021, and is estimated to reach $55.6 billion by 2031, growing at a CAGR of 9.8% from 2022 to 2031.

Use of lab grown diamonds in the creation of jewelry has increased significantly. Many companies are including lab grown diamond jewelry as a cost-effective alternative to naturally mined diamond jewelry. Lab grown diamonds are available in a myriad of shapes and sizes, which provide multiple avenues to use them effectively.

The global lab grown diamonds market is segmented on the basis of manufacturing method, size, nature, application, and region. Based on the manufacturing method, the CVD segment held the major share of the market in 2021. Based on nature, the colorless segment held 71.2% of lab grown diamonds market share in 2021, and based on the size, the below 2-carat segment held the major share of the market in 2021.

Based on application, the fashion segment held the major share of the market in 2021. Lab grown diamonds are heavily used in the fashion industry for the creation of different types of unique jewelry pieces and jewelry sets. Colorless, as well as colored diamonds, are used in jewelry made with silver, gold, platinum, tungsten, and other types of metals.

Based on region, the Asia-Pacific region held the major share of the market in 2021. Asia-Pacific is one of the largest producers of lab grown diamonds in the world. China is the top country in terms of lab grown diamond production and export, while India is set to become a major hub of lab grown diamonds in the world.

The Asia-Pacific market is growing significantly, owing to improvements in living standards and rise in disposable income, thereby leading customers to adopt a lavish lifestyle, which is also driving the lab grown diamonds market growth in the region.

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished