Lab-GrownNov 04, 2021
Analyst: Fashion Jewelry, Industrial Uses Will Drive Lab-Grown Diamond Demand Lab-GrownFeb 16, 2022
Measuring the Lab-Grown Diamond Market: Size, Growth, and Future Opportunities
National Jeweler talks to two analysts about market share and where the stones go from here.
Pandora is the latest big retailer to launch a line of jewelry set with lab-grown diamonds, putting “Pandora Brilliance” into stores in the U.K. last year.
New York—Though lab-grown diamonds still make up a small percentage of the overall diamond jewelry market, their share is growing.
The category slowly has been building in market share as production ramps up and more consumers opt for a man-made stone, with the U.S. market being the largest by far for the products.
To put the current market size and near-term prospects into perspective, National Jeweler spoke with independent industry analysts Edahn Golan and Paul Zimnisky.
Both use their own research and analysis to create the data shared below, which is based on their estimates and forecasts.
An Upward Curve
Looking at the market over the past five years shows an interesting growth curve.
Prior to 2018, lab-grown diamond jewelry sales totaled less than $1 billion, representing less than 1 percent of the total global diamond jewelry market, Zimnisky estimates. (Though these are global figures, Zimnisky noted that the U.S. makes up the majority of the market—more than 90 percent.)
Golan’s estimates for 2018 have lab-grown diamonds accounting for less than 1.5 percent of all diamond sales by specialty retailers in the United States.
By the following year, that had crept up to more than 2 percent, he said, and it’s continued to grow, especially as more producers, like De Beers with its Lightbox brand, have come online.
By 2020, the stones’ market share had increased to about 3.5 percent, and last year it neared 5 percent, indicating continued growth in consumer awareness and acceptance of the product, Golan said.
Overall, Golan said lab-grown diamonds were a $3.9 billion business in the U.S. in 2021.
Zimnisky’s estimates for the market are more bullish.
His research indicates that in 2021, global lab-grown diamond jewelry sales totaled approximately $5.9 billion, representing 7 to 8 percent of the total diamond jewelry market.
Related stories will be right here …
The category slowly has been building in market share as production ramps up and more consumers opt for a man-made stone, with the U.S. market being the largest by far for the products.
To put the current market size and near-term prospects into perspective, National Jeweler spoke with independent industry analysts Edahn Golan and Paul Zimnisky.
Both use their own research and analysis to create the data shared below, which is based on their estimates and forecasts.
An Upward Curve
Looking at the market over the past five years shows an interesting growth curve.
Prior to 2018, lab-grown diamond jewelry sales totaled less than $1 billion, representing less than 1 percent of the total global diamond jewelry market, Zimnisky estimates. (Though these are global figures, Zimnisky noted that the U.S. makes up the majority of the market—more than 90 percent.)
Golan’s estimates for 2018 have lab-grown diamonds accounting for less than 1.5 percent of all diamond sales by specialty retailers in the United States.
By the following year, that had crept up to more than 2 percent, he said, and it’s continued to grow, especially as more producers, like De Beers with its Lightbox brand, have come online.
By 2020, the stones’ market share had increased to about 3.5 percent, and last year it neared 5 percent, indicating continued growth in consumer awareness and acceptance of the product, Golan said.
Overall, Golan said lab-grown diamonds were a $3.9 billion business in the U.S. in 2021.
Zimnisky’s estimates for the market are more bullish.
His research indicates that in 2021, global lab-grown diamond jewelry sales totaled approximately $5.9 billion, representing 7 to 8 percent of the total diamond jewelry market.
According to these two experts, there’s no doubt the lab-grown diamond market will continue to grow, especially as producers ramp up supply and major retailers, like Signet and Pandora, continue to increase their lab-grown diamond inventory.
“All things being equal, a 7 percent share in 2022 is not an unlikely scenario,” Golan said.
Zimnisky, meanwhile, said lab-grown jewelry sales could near $8 billion-plus in 2022, approaching 10 percent of the total diamond jewelry market, and near the $10 billion mark by 2023.
Bridal vs. Fashion
One of the biggest conversations around lab-grown diamonds is, what will consumers buy them for, exactly? Bridal or fashion jewelry?
Currently, about 60 percent of lab-grown diamond sales by value at specialty jewelers are bridal, according to Golan, who noted that’s largely because engagement rings generally cost more than fashion pieces.
But when one looks at the market share by number of units sold (volume), bridal and fashion are evenly split at 50-50, he said.
Golan also noted the ratio of lab-grown diamond sales at larger retail spaces, like Macy’s or Amazon, is very different because consumers tend to shop there for fashion jewelry more than bridal, further indicating that, in the U.S., lab-grown diamond bridal jewelry doesn’t have such a large share.
“I think self-purchase is probably getting to be the biggest segment of the market and a lot of that’s fashion jewelry.”—Paul Zimnisky
Zimnisky said while the lab-grown diamond market has seen the lion’s share of its opportunity in bridal so far, it will start to occupy more in fashion jewelry in the coming years.
“I think self-purchase is probably getting to be the biggest segment of the market and a lot of that’s fashion jewelry,” he said, adding that big companies like Pandora and Lightbox are positioning them as fashion products as well.
Pricing could also influence this potential trend, he said.
As lab-grown diamond prices keep dropping—as they have been for a few years now—it’s likely more lab-grown diamonds will be marketed as fashion jewelry.
Pricing and Its Effects
Lab-grown diamond prices fell last year, while natural polished diamond prices rose by about 30 percent, Zimnisky estimated, widening the gap between the two categories.
Better methods among growers and competition among wholesalers will lead to a continued decrease in prices, both analysts agreed, and it remains to be seen when lab-grown prices will bottom out.
Right now, generic lab-grown diamonds are priced as much as 75-85 percent lower than natural diamonds of the same quality, Zimnisky said.
He said lab-grown diamonds likely will end up being priced similar to Lightbox, which has a linear pricing system based on size ($800 for a 1-carat diamond, $400 for a half-carat diamond, etc.).
In early 2020, Swarovski introduced a line of colored lab-grown diamonds that seem intended for fashion jewelry. Three of the 16 shades offered are, clockwise from top right, “Couture Dragon,” “Draped Fire” and “Velvet Pool.” (© Swarovski)
The widening price gap also plays a role in one big question on everyone’s mind: Are lab-grown diamonds taking away from sales of natural diamonds?
Just a few years ago, when lab-grown diamonds were priced 10 to 15 percent less than comparable natural diamonds, “almost all of those lab-grown diamond sales were probably taking sales away from natural,” he said.
But now that the price gap has widened, there are probably many consumers buying a lab-grown diamond that wouldn’t have considered a natural diamond of the same quality because the price is so much higher. In other words, lab-grown diamonds are potentially finding new consumers.
Ultimately, though, market share and growth will depend on one important aspect, both analysts agreed—marketing.
“It’s still a luxury product. It’s an emotional purchase, and people buy it because they like the way it makes them feel. And I think that’s where the marketing kind of really comes into play,” Zimnisky said.
“I think the natural diamond industry can really protect its market if it’s successful with proper marketing. And if they aren’t, then I think that there’s serious risk there.”
More on Lab-Grown
The Latest
AuctionsMar 18, 2026
Collection of the ‘Severely Beautiful’ Lady Wardington Fetches $161KThe model and fashion editor’s gold evening bags were the top lots at the London sale, going for more than $25,000 each.
PodcastsMar 18, 2026
Episode 3: An Interview With Jewelry Designer Johnny NelsonFresh off winning the David Yurman Gem Awards Grant, Nelson discusses the ring that launched his career and his plans for the future.
SourcingMar 18, 2026
Lucara Recovers Nearly 37-Carat Blue DiamondThe “stunning” Type IIb stone was found via x-ray technology at its Karowe mine in Botswana.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
MajorsMar 18, 2026
Stuller Releases New Edition of Jewelry Education Book“The Basics of Jewelry” has been updated to include modern topics and visuals.
Weekly QuizMar 12, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsMar 17, 2026
The Best Moments From the 2026 Gem Awards Held just before the Oscars, the jewelry industry’s big awards show had its share of standout jewelry, gowns, and acceptance speeches.
SourcingMar 17, 2026
Cruzeiro Mine Debuts ‘Winter Tourmaline’The Brazilian mine’s new collection features cabochons in soft, muted shades like silver and lilac.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
TrendsMar 17, 2026
Natalie Portman Is Tiffany & Co.’s New AmbassadorThe Academy Award-winning actress stars in Tiffany & Co.’s latest commercial, which debuted Sunday night during the Oscars.
MajorsMar 17, 2026
Kering Establishes Jewelry Division, Appoints CEOThe organizational change follows Kering’s promise of a transformation after declining sales in 2025.
EditorsMar 16, 2026
2026 Oscars Jewelry: One Necklace After AnotherNatalie Francisco rounds up the top Oscars jewels, including Rose Byrne’s Taffin necklace with a more than 20-carat yellow-brown diamond.
WatchesMar 16, 2026
TAG Heuer Has a New CEOBéatrice Goasglas has been with TAG Heuer since 2018. She is the first woman to head the 166-year-old, LVMH-owned watch brand.
IndependentsMar 16, 2026
Ben Bridge Debuts New Honolulu BoutiqueThe store features the first in-store build for the jeweler’s in-house “Bella Ponte” bridal brand.
AuctionsMar 16, 2026
Bonhams Paris To Offer Antique, Signed Jewels The live fine jewelry auction will take place later this week, showcasing antique pieces, rare gemstones, and signed jewels.
CollectionsMar 13, 2026
A Trio of Jewels from the 3 Gem Award Nominees for Jewelry DesignOur Pieces of the Week honor the 2026 nominees for the Gem Award for Jewelry Design, Silvia Furmanovich, Cece Fein-Hughes, and Catherine Sarr.
WatchesMar 13, 2026
Citizen, Vera Wang to Launch Watch CollectionThe 24-piece watch collection is set to debut in spring 2027.
SourcingMar 13, 2026
Andrea Pooler Joins Third-Generation Diamond Company as COO Pooler, who has more than 25 years’ experience in jewelry, is now chief operating officer of Modani Jewels, Soham Diamonds, and SNJ Creations.
MajorsMar 13, 2026
24 Karat Club of New York’s Banquet to Return to Waldorf AstoriaThe reopening of the Waldorf Astoria means a homecoming for the industry group’s annual event, which will take place Saturday.
CollectionsMar 12, 2026
Jessica McCormack Sends Gold, Gemstones Into ‘Orbit’McCormack looked to the 19th century’s “golden age” of astronomy when designing her new celestial-themed collection.
Events & AwardsMar 12, 2026
Johnny Nelson Wins David Yurman Gem Awards GrantNelson will be honored as the inaugural grant winner at the Gem Awards gala on Friday.
TechnologyMar 12, 2026
Caratwise Launches, Names Former Signet Exec CEO The new smart design software allows jewelers to configure, price, and confirm a custom engagement ring in real time for in-store customers.
SourcingMar 12, 2026
Grandview Klein Opens New Factory in South Africa The 10,000-square-foot diamond manufacturing facility officially opened in late February and employs 50 people.
Events & AwardsMar 12, 2026
MJSA ‘Future of Jewelry Making’ Scholarship Applications OpenThe MJSA Education Foundation’s scholarships support students pursuing jewelry careers.
AuctionsMar 11, 2026
‘Spectacular’ 26-Carat Diamond Going Up for Auction in London The largest white diamond to come to market in the U.K. in more than a decade, the VVS1, I-color stone is expected to top $1 million.
TechnologyMar 11, 2026
Cast Jewelry’s Rachel Skelly on Coming Back Online Only Skelly shares her plans for reimagining the fine jewelry retailer she re-acquired after it faltered last year.
CollectionsMar 11, 2026
Pyrrha Highlights ‘The Space Between’ In New CollectionThe collection takes inspiration from the emotional space between people, moments, and experiences.
IndependentsMar 11, 2026
From the Jazz Age to the Information Age: London Jewelers Turns 100In 2026, the jewelry retailer is celebrating a milestone only a small percentage of family-owned businesses survive to see.
