BriteCo, a jewelry and watch insurer, has released new research showing how lab-grown diamonds are changing the engagement ring market in the US.
Their report, based on hundreds of thousands of appraisals and insurance records from the past five years, reveals a major shift.
-
Lab-grown diamonds made up over 45% of US engagement ring purchases by 2024.
-
By 2025, a 1-carat lab-grown diamond averaged $1,000 or less at retail.
-
A 1-carat natural diamond averaged about $4,200.
-
Many buyers use the savings to get larger or higher-quality diamonds.
-
Two-thirds of Gen Z engagement ring buyers chose lab-grown diamonds.
-
Millennials are also driving adoption.
Industry Impact
BriteCo CEO Dustin Lemick says the market is splitting:
-
Lab-grown diamonds are becoming an affordable, everyday luxury.
-
Natural diamonds are being positioned as rare symbols of long-term value.
Future Trends
The report points to several possible scenarios:
-
Brand differences may fade – Lab-grown diamonds could become a commodity as natural diamond companies invest heavily in marketing their exclusivity.
-
Everyday wear appeal – Affordable prices and high quality may push lab-grown diamonds into daily jewelry use.
-
Colored lab-grown diamond demand – Lower cost and custom production could boost popularity of fancy colored stones.
What This Means for You
-
If you’re shopping for an engagement ring, lab-grown diamonds let you get more size and quality for your budget.
-
Natural diamonds remain a choice if you value rarity and long-term resale potential.
-
The growing market for colored lab-grown stones could open new style options for your jewelry collection.
