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Diamonds are a mass-consumed luxury product. There exists a solid connection between diamonds and romance. Diamond rings are the symbol of love and it’s deeply ingrained in society’s mindset. It is said the engagement diamond ring should cost thrice the man’s monthly income. But the question that modern youth doesn’t shy away from asking is- Is the hype worth it? Is the splurge really that necessary?
Lab Grown diamonds are in the market for the longest time. However, a lot of air surrounded whether or not lab-grown diamonds are worthy of an investment. Well, the question exists in the large majority of the crowd even today. However, doubts pertaining to lab-grown diamonds have seen clarity. People today know about the existence of lab-grown diamonds. People are seriously reconsidering purchasing lab-grown diamonds for their diamond jewellery. And it has quadrupled its market presence since 2015.
The lab-grown diamond chain sees rapid development given its rising acceptance across the value chain. Due to technological advancements, lab-grown diamonds are cultivated with the same physical and chemical properties as that mined diamonds. They are available at 40% rates of mined diamonds and are economically viable. The large supply of lab-grown diamonds makes it accessible to price-sensitive customers of a wider range.
It was considered up until a few years back that lab-grown diamonds are for the masses and the mined diamonds are for the class. However, is it really so? We can see leading luxury brands launching collection after collection proudly showcasing their lab-grown diamond jewelry collection.
There is a growing consumer acceptance. People have their interests deeply pinned on lab-grown diamonds. The education concerning lab-grown diamonds is growing awareness. People think rationally before making a splurge on mined natural diamonds. As much as the propaganda by mined natural diamond specialists says that lab-grown are all hype, is it really? The market statistics today and as expected in the future say that the lab-grown market is only going to grow more prominently.
Where this industry is led still holds a lot of ambiguous and mixed opinions. However, one thing of certainty is it’s growing and is going to capture a large share of the market.
Also, Read Lab Grown Diamonds: The Future of the Diamond Industry
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