Lab-grown diamonds, once a darling of the jewelry world, are rapidly losing their sparkle. As the market matures, prices for these man-made gems are plummeting, and natural diamonds are making a grand comeback.
From Trend to Oversaturation
In 2018, lab-grown diamonds skyrocketed in popularity, offering an affordable alternative to natural diamonds. They appealed to consumers with their flawless appearance and significantly lower price tags. Celebrities like Emma Watson and Meghan Markle embraced them, fueling their allure. By 2023, these gems made up 20% of the diamond market, a remarkable rise from near obscurity in 2015.
However, the very ubiquity of lab-grown diamonds has led to their decline. Paul Zimnisky, a diamond industry analyst, explains, “They’ve become mainstream, losing their exclusivity.” Retail giants like Walmart and Pandora have aggressively marketed these stones, further eroding their allure. Prices have plummeted—man-made diamonds now sell at up to a 90% discount compared to natural diamonds.
Cormac Kinney, CEO of Diamond Standard, predicts even steeper declines, estimating drops of 50%-80% in the coming years. “Fashion jewelry will never match the rarity of real diamonds,” he states.
As lab-grown gems saturate the market, natural diamonds are reclaiming their status. Jewelers report a trend of couples trading synthetic stones for smaller but genuine diamonds, valuing authenticity over size.
While lab-grown diamonds still hold appeal for budget-conscious buyers, their days as a luxurious alternative to natural diamonds seem numbered. The market, it seems, is rediscovering the timeless allure of “real is rare.”
