The diamond market just hit a breaking point.
Lab-grown diamonds now dominate 61% of US engagement rings in 2025. Wholesale prices cratered 90% in two years. The entire supply chain runs on a China-India-US loop: China grows the rough, India polishes it, US retail captures the margin.
Consumers voted with their wallets. Two years ago, the trade predicted lab-grown bridal would collapse in 2025. They were dead wrong.
Natural diamond producers are getting crushed while carrying fixed assets, finite geology, and entire nations' revenue streams. Meanwhile lab-grown can scale up or down at will.
The real issue: zero industry consensus on terminology. "Lab-grown" vs "synthetic" vs whatever else creates confusion at the consumer level. Without unified global labeling standards, both markets stay messy.
Two categories need two distinct value props:
- Natural = rarity, provenance, producer nation impact
- Lab-grown = accessibility, design flexibility, tech innovation
Letting consumers decide only works if they actually know what they're choosing between. Right now? The trade is gridlocked on basics while the market moves without them.
CNBC feature with Rapaport's Dan Mano breaks it all down.
Lab-grown diamonds now dominate 61% of US engagement rings in 2025. Wholesale prices cratered 90% in two years. The entire supply chain runs on a China-India-US loop: China grows the rough, India polishes it, US retail captures the margin.
Consumers voted with their wallets. Two years ago, the trade predicted lab-grown bridal would collapse in 2025. They were dead wrong.
Natural diamond producers are getting crushed while carrying fixed assets, finite geology, and entire nations' revenue streams. Meanwhile lab-grown can scale up or down at will.
The real issue: zero industry consensus on terminology. "Lab-grown" vs "synthetic" vs whatever else creates confusion at the consumer level. Without unified global labeling standards, both markets stay messy.
Two categories need two distinct value props:
- Natural = rarity, provenance, producer nation impact
- Lab-grown = accessibility, design flexibility, tech innovation
Letting consumers decide only works if they actually know what they're choosing between. Right now? The trade is gridlocked on basics while the market moves without them.
CNBC feature with Rapaport's Dan Mano breaks it all down.
