What happened to lab-grown diamonds? Are people still buying them?

Chetna Arora's weekends, lately have one agenda: finding the right sparkle for her engagement. For the 28-year-old IT professional from Pune, the quest for a solitaire that “speaks to her” is still on.When asked if she considered lab-grown diamonds (LGD), she pauses. “I have been frantically looking for the perfect diamond ring for my engagement. Initially, I didn’t even remember them (LGD). Then a friend suggested I look into them because they might fit my pocket or help me get a bigger rock like Georgina Rodriguez’s, maybe. I admire it so much! But my partner and mother are slightly apprehensive. I’m still in two minds.” But Arora's case is not one off and we'll come to that.Well, lab-grown diamonds surely entered the conversation with a tempting proposition: the sparkle could fit your pocket, that too, in bigger sizes, and it became the talk of the town.Now, with festive fervour gathering pace and wedding season adding a few carats to the mood, it is worth checking in: what happened to lab-grown diamonds? Are people really considering them for their jewellery wishlist, or has the buzz faded? Public figures, meanwhile, have given the category visibility. Kareena Kapoor has worn lab-grown diamond label Vandal's earrings. Shilpa Shetty has invested in Limelight, and Vivek Oberoi’s jewellery venture also centres on lab-grown diamonds. Prime Minister Narendra Modi, too, gifted a 7.5-carat lab-grown diamond to Jill Biden, then the US First Lady.While it piques curiosity, often such important jewellery purchases need more convincing, especially with all the scepticism “I understand why someone would choose a lab-grown diamond, but for an engagement ring, I would still lean towards a natural one because of social pressure. I worry that someone might react differently on learning it’s lab-grown, as though my fiance spent less or cared less. I don’t agree with that attitude, but I’m not immune to it either. Even if lab-grown made more practical sense, I wouldn’t want to face that judgement,” Bhumika Singh, 31, who owns a natural solitaire herself, tells India Today.But here’s where the story gets more interesting. At jewellery counters, brands say the questions themselves are changing.“When we started Jewelbox in 2022, our first conversation with almost every customer was about explaining what a lab-grown diamond was, today, the conversation has evolved considerably. While customers are still learning about the category, they are asking increasingly informed questions about cut, certification, carat weight and design," says co-founder Vidita Kochar Jain.How have lab-grown diamonds changed?Industry experts acknowledge the scepticism but point to changing preferences and growing sales. Just because lab-grown diamonds no longer dominate conversations in your circle, they say, doesn’t mean shoppers have lost interest.The numbers offer some contextFortune Business Insights estimates the global lab-grown diamond market at $29.46 billion (approx Rs 2,79,306 crore) in 2025, projecting it to reach $91.85 billion (approx Rs 8,70,767 crore) by 2034. In India, Wazir Advisors estimates the market at Rs 3,452 crore in FY25, forecasting growth to Rs 5,179 crore by FY28.Industry experts report growing interest too. Ankur Daga, founder and CEO, Angara, describes two developments happening together: falling wholesale stone prices and rising consumer adoption.According to Daga, lab-grown diamonds now cost around 85–90 per cent less than comparable natural stones, against 20–30 per cent less a few years ago. Increased production in India and China has pushed prices down, while purchases of finished jewellery have grown.“At Angara, festive demand in our lab-grown segment is pacing at strong 35–40% growth year-on-year, led primarily by statement rings, bespoke tennis bracelets, and multi-stone necklaces,” he says.Pooja Madhavan, founder and managing director, Limelight Lab Grown Diamonds, says its Dussehra sales tripled year-on-year while its store network doubled to Tier 2 and Tier 3 cities as well.Disha Shah, founder, DiAi Designs, also reports sustained demand, saying their order volumes and revenue have grown around 30-fold since its launch in 2018.These company-reported figures cover different periods and are not directly comparable. But they all describe a common shift: customers are finding reasons to buy beyond weddings and anniversary gifts.Diamonds are getting more outingsIn many Indian homes, the good jewellery comes out for weddings and festivals, then goes straight back into the locker. But younger buyers, particularly Gen Z and millennials, want their sparkle to get more outings, say industry experts.Daga observes two groups of buyers.“First, younger consumers entering fine jewellery far earlier than previous generations because entry price barriers are gone. Second, seasoned buyers who already own substantial natural diamond heirlooms, but want everyday luxury like cocktail rings, travel jewellery, and bold hoops they can wear out without worrying about locker security.”“Purchases span festive gifting, bridal and engagement jewellery, self-purchases and personal milestones. Interestingly, self-purchase and jewellery bought to celebrate personal milestones are currently our fastest-growing segments,” says Jain.That gives the category a life beyond a festive offer. A pair of studs can accompany the office commute; a ring need not wait for a proposal; a bracelet can add a little oomph to an everyday look.Daga says buyers are also approaching these purchases with different expectations.“They know a lab-grown diamond is not an asset you put in a bank locker hoping it appreciates over thirty years, because supply will keep increasing. But they are completely comfortable with that,” he says. “They look at it as fine jewellery to be worn, enjoyed, and styled today.”For Apoorva Dixit, 29, the appeal is precisely that.“I already own two lab-grown pieces I bought last year – a bracelet and earrings - and I wear them for regular outings too. I was apprehensive earlier, but once you see yourself wearing the purchase beyond select occasions, it feels like value for money. Anyway, it’s not for investment, right?” she tells us.And in this era of hyper-personalisation, lab-grown diamonds offer room to customise jewellery and add multiple pieces to a collection, rather than one expensive piece that rarely gets an audience.“There is growing interest in personal expression through layering, stacking and mixing jewellery styles,” says Madhavan.For Shah, buyers are moving beyond seeing lab-grown diamonds simply as an alternative. They are choosing jewellery for the design itself, experimenting with colours and shapes that feel more like them.The latest trendsColoured diamonds: Gone are the days when a pure and superior diamond meant an opulent crystal clear rock. The sparkle is getting more colourful. Natural fancy-coloured diamonds, including yellows, pinks and blues, are becoming hard to ignore. According to Daga Lab-grown technology completely democratised colour.Fancy cuts: Modern silhouettes like emerald cuts, radiants, ovals, and pears are dominating. And hello, we all zoomed in on Taylor Swift, Selena Gomes, Kiara Advani's and their rings.Gemstone pairing and personalisation: Custom settings, two-tone gold and lab-grown diamonds styled as halos around emeralds and blue sapphires are also finding takers, according to Daga. The appeal is in creating a piece that feels personal.Luxury, within reachThat is where lab-grown diamonds make their case as an affordable luxury: a piece you once admired through the glass can become something you actually wear.According to Daga, everyday lab-grown diamond pendants and earrings in 14K or 18K gold typically cost Rs 18,000–Rs 35,000, compared with Rs 55,000–Rs 90,000 or more for similar natural-diamond designs. A mounted one-carat lab-grown solitaire can cost Rs 35,000–Rs 55,000, against Rs 2.5–Rs 4.5 lakh or more for a comparable natural diamond. Specifications, settings and other charges affect these indicative prices.For a first-time buyer, that difference can put diamond jewellery within reach.One last sparkleAs far as the concern is about if people still care about it, Shah says, “I think the conversation has moved beyond whether people are ‘into’ lab-grown diamonds to what they want to create with them. Misconceptions remain, but customers increasingly come with specific questions about origin, quality and value."Dixit’s preferences show how the two categories can coexist in one jewellery box. “I’m not for or against either. I enjoy my lab-grown pieces because I can play up my look whenever I want. But if I ever had to choose an heirloom piece, I would be team natural, because there’s a nice ring to it.”Different purchases, different needs, different expectations. But remember, a diamond is forever.- Ends