Lab Diamonds Are Cannibalising The Mined Diamond Market
The global lab grown diamond market was valued at $19.3 billion in 2020 and is projected to reach $49.9 billion by 2030 - a rapid growth since its inception with the prediction to represent 30% of the overall diamond market in the next 5 years.
There are several reasons why lab-grown diamonds are becoming increasingly popular and putting mined diamonds out of business:
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Price: Lab-grown diamonds are typically less expensive than mined diamonds of comparable quality. This is because the cost of mining and extracting natural diamonds is much higher than the cost of producing lab-grown diamonds.
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Ethical concerns: Many consumers are concerned about the ethical and environmental issues associated with diamond mining. This includes issues such as worker exploitation, environmental degradation and the use of conflict diamonds. Lab-grown diamonds are generally seen as a more ethical and sustainable alternative to mined diamonds.
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Availability: Lab-grown diamonds are more readily available than natural diamonds. This is because they can be produced in a controlled environment, whereas natural diamonds are a finite resource that must be mined from the earth.
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Quality: The quality of lab-grown diamonds has improved significantly in recent years, making them a viable alternative to natural diamonds. In some cases, lab-grown diamonds may even be of higher quality than natural diamonds, as they can be produced with fewer impurities and inclusions.
When you buy a lab grown gem, you’re wearing a dazzling symbol of sustainability. You’re telling everyone who checks out your jewellery that you care about having a positive, beautiful impact on the environment, humanity and your bank balance.
We’re not sure who feels better about it, you, us or the planet!!!
"Luxury That Doesn't Cost The Earth ®"
