What Do Consumers Think of Lab Grown Diamonds?
You may not be aware of this, but purchasing diamonds is now a reasonably priced endeavor. How? Thanks to science, the increased supply of lab diamonds makes them an affordable purchase.
Lab made diamonds are real diamonds - the only distinction is they’ve been created in human-made conditions, rather than under the earth’s mantle over billions of years. As confirmed by CNN, the sales figures for March 2022 indicated a 63% increase in lab diamonds vs. natural.
In this blog, we will review the rationale behind the sparkling rise of lab grown diamonds.
1. Lab grown diamonds are real diamonds
Occasionally, lab created diamonds are also referred to as "synthetic diamonds," spreading the notion that these diamonds are imitations. However, in an analogy between lab grown diamonds and the other popular substitutes, lab made diamonds are the real deal.
Lab created diamonds are prepared in the laboratory using cutting-edge technological procedures that mimic the conditions under which natural diamonds are developed beneath the earth’s crust. As a consequence, both real and lab diamonds inhibit similar physical, chemical, and optical traits.
Additionally, like real diamonds, man-made diamonds also receive a grading certificate which ensures that the consumers are not being misrepresented and the diamond is actually worth the price. Fair enough, isn’t it?
2. Conscious consumer prefer lab created diamond engagement rings
Ethical issues often surround the natural diamonds' origin in comparison to that of grown diamonds. The majority of the world's diamonds, around 65%, are mined in Africa using forced labor and occasionally in conflict areas; the money made from these operations is sometimes used to finance war.
Now, if a millennial were to purchase a diamond, they would be concerned about its origin. This is especially when they are purchasing an engagement ring as they would never want their symbol of love and respect to have a history of hatred and malice behind it.
Therefore, the procedure of formation of real diamonds is one of the reasons why there was a sharp decrease of 25% in the sale of natural diamond engagement rings. This paved a way for the lab created diamonds to flourish.
3. New-age consumers prefer environmentally-friendly diamonds
A recent Forbes study found that the demand for natural diamonds has significantly decreased as a result of consumer awareness of environmental and social responsibility. Consumers in the Gen-Z and millennial generations, who have contributed to the expansion of the lab-grown diamond industry, are most affected by this mentality change.
In case of lab diamonds vs real diamonds, the latter uses a whooping 500 million joules per carat and the former just a quarter of the amount. Astounding, isn’t it? Thus, the sustainability factor is why new-age consumers choose grown diamonds over real ones.
4. Consumers prefer to buy large sized diamonds
Due to their value being concentrated in a single, relative chunk, big diamonds make for an obvious investment prospect for buyers. In the case of lab diamonds vs real diamonds, the former is 40-50% cheaper than the latter. This clearly demonstrates the former wins the race.
In fact, lab created diamonds are growing bigger and better every day and can even be customized in a variety of shapes, sizes and colors. Additionally, consumers tend to have a mentality of ‘the bigger the better’ and end up purchasing large sized diamonds over smaller ones.
5. Consumers want their diamonds to tell a story and have a unique style
The sense of style and aesthetics is valued over the illusion of wealth or sophistication when purchasing diamonds. From an aesthetic standpoint, lab made diamonds are lustrous and lack imperfections as they are not damaged by aging. Unlike many mined diamonds, grown diamonds seldom have a past marred by destruction or evil.
In addition to the history behind them, lab grown diamonds have their own distinctive characteristics that set them apart from one another. This may come as a surprise given that one of the common fallacies regarding lab grown diamonds is that they are all identical clones with no distinguishing characteristics.
Over to you
The factors such as transparency, affordability, sustainability, and aesthetic will significantly contribute to the rising demand for lab created diamonds.
According to recent studies, India increased its exports of polished lab diamonds worth $1.05 billion between April 2021 and January 2022. To conclude, the reason for buying a diamond is in its eternal value and this objective can be easily achieved by purchasing lab made diamonds.
{"AutoID":63,"DateCreation":"\/Date(1668850218850)\/","DateModified":"\/Date(1731322662540)\/","CreatedBy":null,"ModifiedBy":"Rahul Bohra ","RecordStatus":"A","Title":"What Do Consumers Think of Lab Grown Diamonds?","SubTitle":null,"Description":"\u003cp\u003e\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eYou may not be aware of this, but purchasing diamonds is now a reasonably priced endeavor. How? Thanks to science, the increased supply of lab diamonds makes them an affordable purchase.\u003c/p\u003e\r\n\r\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eLab made diamonds are real diamonds - the only distinction is they\u0026rsquo;ve been created in human-made conditions, rather than under the earth\u0026rsquo;s mantle over billions of years. As confirmed by CNN, the sales figures for March 2022 indicated a 63% increase in lab diamonds vs. natural.\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eIn this blog, we will review the rationale behind the sparkling rise of lab grown diamonds.\u003c/p\u003e\r\n\r\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003ch2\u003e1. Lab grown diamonds are real diamonds\u003c/h2\u003e\r\n\r\n\u003cp\u003eOccasionally, lab created diamonds are also referred to as \u0026quot;\u003ca href=\"https://www.growndiamondcorp.com/blog/why-real-synthetic-diamonds-are-cost-effective/\"\u003esynthetic diamonds\u003c/a\u003e,\u0026quot; spreading the notion that these diamonds are imitations. However, in an analogy between lab grown diamonds and the other popular substitutes, lab made diamonds are the real deal.\u003c/p\u003e\r\n\r\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003e\u003ca href=\"https://www.growndiamondcorp.com/blog/types-of-lab-grown-diamonds/\"\u003eLab created diamonds\u003c/a\u003e are prepared in the laboratory using cutting-edge technological procedures that mimic the conditions under which natural diamonds are developed beneath the earth\u0026rsquo;s crust. As a consequence, both real and \u003ca href=\"https://www.growndiamondcorp.com/blog/types-of-diamonds/\"\u003elab diamonds\u003c/a\u003e inhibit similar physical, chemical, and optical traits.\u003c/p\u003e\r\n\r\n\u003cp\u003eAdditionally, like real diamonds, \u003ca href=\"https://www.growndiamondcorp.com/blog/types-of-lab-grown-diamonds/\"\u003eman-made diamonds\u003c/a\u003e also receive a grading certificate which ensures that the consumers are not being misrepresented and the diamond is actually worth the price. Fair enough, isn\u0026rsquo;t it?\u003c/p\u003e\r\n\r\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003ch2\u003e2. Conscious consumer prefer lab created diamond engagement rings\u003c/h2\u003e\r\n\r\n\u003cp\u003eEthical issues often surround the natural diamonds\u0026#39; origin in comparison to that of \u003ca href=\"https://www.growndiamondcorp.com/\"\u003egrown diamonds\u003c/a\u003e. The majority of the world\u0026#39;s diamonds, around 65%, are mined in Africa using forced labor and occasionally in conflict areas; the money made from these operations is sometimes used to finance war.\u003c/p\u003e\r\n\r\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eNow, if a millennial were to purchase a diamond, they would be concerned about its origin. This is especially when they are purchasing an engagement ring as they would never want their symbol of love and respect to have a history of hatred and malice behind it.\u003c/p\u003e\r\n\r\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eTherefore, the procedure of formation of real diamonds is one of the reasons why there was a \u003ca href=\"https://www.gemsociety.org/news/2022/05/18/interest-lab-grown-diamonds-surging-shows-no-signs-of-stopping/\"\u003esharp decrease of 25% in the sale \u003c/a\u003eof natural diamond \u003ca href=\"https://www.growndiamondcorp.com/blog/heres-the-only-guide-you-need-to-buy-your-lab-grown-diamond-engagement-ring/\"\u003eengagement rings\u003c/a\u003e. This paved a way for the lab created diamonds to flourish.\u003c/p\u003e\r\n\r\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003ch2\u003e3. New-age consumers prefer environmentally-friendly diamonds\u003c/h2\u003e\r\n\r\n\u003cp\u003eA recent \u003ca href=\"https://www.forbes.com/sites/pamdanziger/2019/12/15/mined-diamond-sales-decline-as-the-future-is-in-laboratory-grown-diamonds/\"\u003eForbes study\u003c/a\u003e found that the demand for natural diamonds has significantly decreased as a result of consumer awareness of environmental and social responsibility. Consumers in the Gen-Z and millennial generations, who have contributed to the expansion of the \u003ca href=\"https://www.growndiamondcorp.com/blog/how-is-technology-advancing-the-lab-grown-diamond-industry/\"\u003elab-grown diamond industry\u003c/a\u003e, are most affected by this mentality change.\u003c/p\u003e\r\n\r\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eIn case of \u003ca href=\"https://www.growndiamondcorp.com/blog/can-you-easily-distinguish-between-a-mined-and-a-lab-grown-diamond/\"\u003elab diamonds vs real diamonds\u003c/a\u003e, the latter uses a whooping 500 million joules per carat and the former just a quarter of the amount. Astounding, isn\u0026rsquo;t it?\u0026nbsp; Thus, the sustainability factor is why new-age consumers choose grown diamonds over real ones.\u003c/p\u003e\r\n\r\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003ch2\u003e4. Consumers prefer to buy large sized diamonds\u003c/h2\u003e\r\n\r\n\u003cp\u003eDue to their value being concentrated in a single, relative chunk, big diamonds make for an obvious investment prospect for buyers. In the case of \u003cstrong\u003elab diamonds vs real diamonds,\u003c/strong\u003e the former is 40-50% cheaper than the latter. This clearly demonstrates the former wins the race.\u003c/p\u003e\r\n\r\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eIn fact, \u003cstrong\u003elab created diamonds\u003c/strong\u003e are growing bigger and better every day and can even be customized in a variety of shapes, sizes and colors. Additionally, consumers tend to have a mentality of \u0026lsquo;the bigger the better\u0026rsquo; and end up purchasing large sized diamonds over smaller ones.\u003c/p\u003e\r\n\r\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003ch2\u003e5. Consumers want their diamonds to tell a story and have a unique style\u003c/h2\u003e\r\n\r\n\u003cp dir=\"ltr\"\u003eThe sense of style and aesthetics is valued over the illusion of wealth or sophistication when purchasing diamonds. From an aesthetic standpoint,\u0026nbsp;\u003ca href=\"https://www.growndiamondcorp.com/blog/types-of-lab-grown-diamonds/\"\u003elab made diamonds\u0026nbsp;\u003c/a\u003eare lustrous and lack imperfections as they are not damaged by aging. Unlike many \u003ca href=\"https://www.growndiamondcorp.com/blog/can-you-easily-distinguish-between-a-mined-and-a-lab-grown-diamond/\"\u003emined diamonds,\u003c/a\u003e\u0026nbsp;grown diamonds\u0026nbsp;seldom have a past marred by destruction or evil.\u003c/p\u003e\r\n\r\n\u003cp dir=\"ltr\"\u003e\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eIn addition to the history behind them,\u0026nbsp;\u003ca href=\"https://www.growndiamondcorp.com/blog/types-of-lab-grown-diamonds/\"\u003elab grown diamonds\u0026nbsp;\u003c/a\u003ehave their own distinctive characteristics that set them apart from one another. This may come as a surprise given that one of the common fallacies regarding\u0026nbsp;lab grown diamonds\u0026nbsp;is that they are all identical clones with no distinguishing characteristics.\u003c/p\u003e\r\n\r\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003ch2\u003eOver to you\u003c/h2\u003e\r\n\r\n\u003cp\u003eThe factors such as transparency, affordability, sustainability, and aesthetic will significantly contribute to the rising demand for \u003ca href=\"https://www.growndiamondcorp.com/blog/are-lab-grown-diamonds-a-good-investment/\"\u003elab created diamonds\u003c/a\u003e.\u003c/p\u003e\r\n\r\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\r\n\r\n\u003cp\u003eAccording to \u003ca href=\"https://www.iasgyan.in/daily-current-affairs/lab-grown-diamond\"\u003erecent studies, India increased its exports\u003c/a\u003e of polished lab diamonds worth $1.05 billion between April 2021 and January 2022. To conclude, the reason for buying a diamond is in its eternal value and this objective can be easily achieved by purchasing lab made diamonds.\u003c/p\u003e\r\n","FromDate":null,"ToDate":null,"Image_Url":"image-gdc-blog-7jpgGETEZPEPAO.jpg","Image_Alt":"What Consumers Think of Lab Grown Diamonds?","KeyWords":"lab grown diamonds , lab grown diamond rings ,lab created diamond rings , lab made diamonds , lab diamond rings","MetaDescription":"Want to know what consumers think of lab-grown diamonds? As Confirmed by CNN Sales figures increased in lab diamonds and also what people think of lab-grown diamonds. Browse more to know about the sparkling rise of lab diamonds.","MetaTitle":"What Do Consumers Think of Lab Grown Diamonds?","CanonicalLink":null,"MetaContent":"\u003c!-- Open Graph / Facebook --\u003e\r\n\u003cmeta property=\"og:type\" content=\"website\"\u003e\r\n\u003cmeta property=\"og:url\" content=\"https://www.growndiamondcorp.com/blog/what-do-consumers-think-of-lab-grown-diamonds/\"\u003e\r\n\u003cmeta property=\"og:title\" content=\"What Do Consumers Think Of Lab Grown Diamonds? | Grown Diamond Corporation\"\u003e\r\n\u003cmeta property=\"og:description\" content=\"Want to know what consumers think of lab-grown diamonds? As Confirmed by CNN Sales figures increased in lab diamonds and also what people think of lab-grown diamonds. Browse more to know about the sparkling rise of lab diamonds.\"\u003e\r\n\u003cmeta property=\"og:image\" content=\"https://docs.growndiamondcorp.com/blogs/image-gdc-blog-7jpgGETEZPEPAO.jpg\"\u003e\r\n\r\n\u003c!-- Twitter --\u003e\r\n\u003cmeta property=\"twitter:card\" content=\"summary_large_image\"\u003e\r\n\u003cmeta property=\"twitter:url\" content=\"https://www.growndiamondcorp.com/blog/what-do-consumers-think-of-lab-grown-diamonds/\"\u003e\r\n\u003cmeta property=\"twitter:title\" content=\"What Do Consumers Think Of Lab Grown Diamonds? | | Grown Diamond Corporation\"\u003e\r\n\u003cmeta property=\"twitter:description\" content=\"Want to know what consumers think of lab-grown diamonds? As Confirmed by CNN Sales figures increased in lab diamonds and also what people think of lab-grown diamonds. 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