The Lab Grown Market

The exact percentage of lab-grown engagement rings in the market is difficult to determine as it can vary depending on various factors such as geographic location, consumer preferences, and the availability of lab-grown diamonds. However, lab-grown diamonds have been steadily gaining popularity in recent years as an alternative to natural diamonds. According to industry reports and surveys, the market share of lab-grown diamonds has been increasing. In 2020, it was estimated that lab-grown diamonds accounted for around 3-4% of the global diamond market. However, it's worth noting that this percentage may have changed since then due to the evolving dynamics of the diamond industry and the growing acceptance and demand for lab-grown diamonds. Since 2020, the lab grown market has exploded with popularity. We currently see 90% of diamonds sold as lab grown within Whitehouse Brothers. Factors contributing to the growing popularity of lab-grown diamonds for engagement rings include their ethical and environmental advantages, price affordability compared to natural diamonds, and the ability to choose a diamond with specific qualities and characteristics. It's important to keep in mind that consumer preferences can vary significantly, and natural diamonds still hold a significant market share in the engagement ring industry. Ultimately, the choice between lab-grown and natural diamonds is a personal one, and individuals should consider their values, budget, and desired attributes when making a decision.