Consumer Acceptance

Pretty is no longer enough. 

Millennial consumers, in particular, have shown growing interest in lab grown diamonds. 

 

Lab grown diamonds typically cost around 30-40% less than mined diamonds. So that means with lab grown diamond not only can customer cut down the overall ring cost (or get a bigger ring), but is also assured about diamond's origin.

A consumer survey - A Diamond Choice 2019,
 Lab-Grown Diamonds & The Future of The Diamond Industry
 by consumer and trade market research firm MVI - revealed that 51% of
consumers are aware of lab grown diamonds and 23% consumers claimed that they will definitely buy a ring with lab grown diamonds
.

MVI's report also revealed that consumer attitudes are consistent with updated Federal Trade Commission's (or FTC) guidelines in terms of defining language. 


According to MVI's survey, the bridal market consumers preference for lab grown diamonds in their engagement rings is growing steadily.

A Morgan Stanley estimate pegs the lab grown diamond market size to be between
$75 million & $220 million

Contact Us

International Grown Diamond Association
860 Aviation Parkway, Ste 900
Morrisville, NC 27560 USA

Media Queries: press@theigda.com
 

General Queries: info@theigda.com

© The International Grown Diamond Association (IGDA) 

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