Gone are the days when mined diamonds were the only choice for engagement rings. Today, we're witnessing steadily increasing demand for lab-grown diamonds. This shift is reshaping the engagement ring market as we know it. From how consumers shop to what they look for in a diamond, this guide breaks down how lab-grown diamonds have redefined the industry.

For further inspiration, discover VRAI created diamonds — the world's first Carbon Neutral Certified lab-grown diamonds.

The Rise of the Lab-Grown Diamond Industry

While lab-grown diamonds were first created in 1954, their popularity has dramatically risen in the last few decades. This is due to several reasons. Man-made diamonds are grown through two methods: HPHT and CVD. While both methods are used today, scientists could initially only use the HPHT method. This was more labor-intensive and less effective at producing gem-quality diamonds.

It wasn’t until the 1980s that the CVD method was perfected, making lab-grown diamond jewelry more available to the masses. At the time, consumers still didn’t understand the value of lab-grown stones, nor were they commonly available.

Then public perception of "natural diamonds" dramatically shifted at the turn of the century. People discovered that diamond mining was creating horrific civil wars and conflict throughout Africa. Ethical diamond alternatives became more attractive to consumers, so retailers chose to offer more lab-grown stones.

The man-made diamond demand has steadily grown throughout the 2000s, especially after the FTC recognized lab-grown diamonds as real diamonds. This finally differentiated lab-created diamonds from synthetic ones and disputed any claims that lab diamonds were inferior to mined.

Over the past few years, consumers have increasingly sought ethical and sustainable options, from environmentally-friendly fashion to fine jewelry. As a result, lab-grown sales shot higher than ever, with no sign of slowing down today.

Why Consumers Are Choosing Lab-Created Diamonds

People are choosing lab-grown diamonds over mined for several reasons, detailed below.

• Eco-Friendly if Certified for Zero Emissions: VRAI created diamonds are gently grown in our zero-emission foundry using 100% renewable energy. Although many lab-created diamonds claim to be eco-friendly, not all are created equal. Many lab-grown diamonds are made in foundries which rely on fossil fuels for energy. Their carbon footprint can be as large as a traditional mine — which is why VRAI’s certified carbon neutral foundry stands apart.
• Ethically Sourced: With no mining involved, lab-created diamonds have a guaranteed origin. They eliminate the ethical implications of diamond mining and offer full traceability.
• Cost-Effective: Lab-grown diamonds are significantly less expensive than mined diamonds of the same quality and carat.

Lab-Grown Impact on the Engagement Ring Market

Today's couples are looking for more than just a ring. They're looking for a symbol of their love that aligns with their sustainable and ethical values. Lab-grown stones tick all these boxes, leading to a notable shift in consumer preferences.

The engagement ring market has taken notice. Jewelry brands are offering more engagement rings (and fine jewelry) with lab-created diamonds than ever before. This immense supply increase is perhaps the biggest impact that lab-created diamonds have had on the engagement ring market.

Below, we cover the key ways lab-created diamonds have influenced the diamond industry.

Consumer Preferences

From the moment lab diamonds became an accessible option, consumer preferences began to shift. Gone are the days when all shoppers wanted was the largest, most expensive diamond from the most renowned jeweler.

Today, people are prioritizing quality, ethics, and customization. They are also buying based on their personal needs and budget instead of what’s popular or flashy.

Efficient and Innovative Production

The increased demand for lab-created stones is changing how diamonds are made. The diamond industry is more incentivized to prioritize efficient and innovative production methods for man-made diamonds over mined.

In the future, we’ll see diamond producers creating new ways to grow diamonds that minimize time, cost, and impact to meet this growing demand. As technology advances, the cost of producing lab-grown diamonds will continue to decrease, making them even more accessible.

A Shift Towards Sustainability

Modern couples are all about making eco-friendly choices to reduce their environmental impact. Lab-grown diamonds produce significantly fewer emissions than diamond mining, but many lab-grown producers still have a significant carbon footprint.

Both lab-grown and mined diamond producers have begun to implement eco-friendly initiatives and materials. As more consumers seek out transparent, eco-friendly jewelry brands, the diamond industry will further prioritize sustainability.

Virtual Shopping

The rise of lab-grown diamonds has spurred innovation across the jewelry industry. More people are buying their rings online versus in-store, so jewelers are changing the type of shopping experience they provide. From custom design services to virtual try-ons, jewelry brands are leveraging technology to enhance the buying experience. Online shopping is more personalized and accessible than ever before.

Custom Designs and Diamonds

In this Instagram-ready world, personalization is king. Couples are craving engagement rings that tell their unique story. Custom designs with unusual settings and non-traditional diamonds are more popular than ever.

But customization doesn’t just stop at design. Custom diamonds, also known as Cut for You ™ VRAI created diamonds, are the ultimate expression in personalization — grown, cut, and polished according to the shopper's preferences. People are prioritizing one-of-a-kind gems.

Increased Accessibility

When it comes to popping the big question, the sparkle doesn't have to cost an arm and a leg. Consumers now understand that price doesn’t equal value. Lab-grown diamond engagement rings are available at a significantly lower price than mined diamond engagement rings of the same quality. This has eliminated outdated cost expectations such as the three-month salary rule.

Engagement rings are now more accessible than ever. Consumers are choosing jewelers and rings that meet their preferences and budgets instead of going into debt. If retailers want to stay in business, they need to price their engagement rings according to value instead of inflated middleman markups.

Quality Over Size

While bigger may have been better back in the day, today's couples prefer quality over size. People are more interested in the craftsmanship of the diamond than how big it looks on their finger.

When choosing lab-grown, shoppers have more accessible price points to choose from. With a wider range of options, they are taking their time to understand the quality and craft of the diamond cut.

Value That Holds

Resale value has long been a contentious topic when comparing mined and lab-grown diamonds. Yes, lab-grown diamonds cost less than mined, but this doesn’t mean they are less valuable. Lab-grown stones actually hold their value better than mined.

Mined diamonds resell for significantly less than their original cost because the average retail price includes middlemen and industry markups. Shoppers are more informed on diamond value today. They no longer take the price at face value and instead, choose stones that will hold their value over time.

What's the Future of Lab-Grown Diamonds?

The diamond market is witnessing an ongoing shift in consumer trends and preferences for engagement rings. Today's shoppers are purchasing based on their values, personal taste, quality, and convenience.

Many consumers want truly conflict-free diamonds, which has caused falling demand for mined stones. While lab-created diamonds currently account for a minority of global diamond sales, it’s clear that lab-grown diamonds are here to stay.

In the future, we expect lab-grown diamond engagement rings to no longer be the minority. Due to technological advancements and growing demand, lab diamonds will be increasingly available at a lower cost. It's only a matter of time until lab-grown diamond sales surpass, and even replace mined diamonds.

Discover VRAI Carbon Neutral Certified Lab-Grown Diamonds

VRAI is leading the way in innovation and progression in the diamond industry. Our unmatched transparency and craftsmanship differentiate VRAI from any other mined or lab-grown diamond brand.

At the heart of every engagement ring is a VRAI created diamond, grown in the world’s first zero-emission foundry powered by 100% renewable energy. VRAI is the only producer of Carbon-Neutral Certified diamond engagement rings.

But it’s not simply our commitment to sustainability and transparency that sets VRAI apart. Our craftsmanship is truly incomparable. VRAI diamond cuts are in the top 1% of the world, crafted by our fourth-generation trained master diamond cutters. At VRAI, you can create a truly bespoke engagement ring that aligns with your values and preferences.

Lab-Grown Diamond Affect on Engagement Ring Market FAQ

Read on for answers to frequently asked questions about lab-grown diamonds.

Can You Tell the Difference Between a Lab-Grown and a Mined Diamond?

You cannot tell the difference between a lab-grown and mined diamond. Unlike synthetic diamonds, lab-grown stones are chemically and physically identical to mined.

Are Lab-Grown Diamonds Considered Real Diamonds?

Yes, lab-grown diamonds are considered real diamonds. Both mined and lab-created are made from pure carbon and have the same physical properties.

How Do Lab-Grown Diamonds Impact the Resale Value?

The resale value of lab-grown diamonds varies based on diamond market demand. However, even though lab-created diamonds are sold at a lower price point, they typically have a higher resale value than mined.

Are Lab-Grown Diamonds Popular for Engagement Rings?

Lab-grown diamonds are increasingly popular for engagement rings, with more shoppers than ever before choosing lab-grown rings. While mined diamonds are still the most popular choice, man-made diamonds continue to trend.

Are Lab-Grown Diamonds Becoming More Popular?

Yes, lab-grown diamonds are becoming more popular. They are predicted to continue to increase in popularity globally.