The growth in consumer acceptance of lab-grown diamonds has been truly remarkable. It is estimated that lab-grown diamonds, which have only recently been introduced to consumers, now represent 5% of the total $82 billion global diamond business.
This rapid growth was confirmed in two recent consumer research studies by THE MVEye a market research firm specializing in the gem, jewelry and watch industries.
The first study, conducted with consumers in North America, found that 80% of jewelry consumers in 2020 were aware of lab-grown diamonds, up from 58% in 2018.
The second study, conducted with consumers in Western Europe, found that 77% of consumers in 2021, were aware of lab-grown diamonds.
Lab-grown diamonds are also receiving considerable media attention lately.