Tel Aviv, Israel—A just-released report by Edahn Golan Diamond Research shows the penetration of lab-grown diamonds into the U.S. market is still relatively small. Based on just-released data from NPD Group’s Diamond Tracker, sales of loose lab-grown diamonds are about 0.5% of the total loose diamond market. While there are seasonal fluctuations, the numbers are on a steady upward path, his data shows, with jewelers selling these goods at a little less than 30% below naturals.
Sales were comprised of a fairly narrow selection that mirrors consumers’ typical preferences for diamonds. The best-selling sizes were between 1.0 and 1.5 carats in first place, and between 0.7 and 0.89 in second place, with 80% of sales being either round (65% of total) or princess shapes.
Surprisingly, more than 1/3 of the lab-grown stones sold were J color and nearly one-third were SI1 clarity. Sales patterns throughout the year also suggest that American consumers view lab-grown stones as fashion items but still demand natural diamonds for bridal and important gift purchases.
Although sales of lab-grown diamonds fluctuate from month to month (dark blue line), the overall trajectory of sales is headed up (dotted line). Source: NPD Diamond Tracker with analysis by Edahn Golan.
Golan’s report covers only loose lab-grown stones, not finished jewelry containing them. Read his entire analysis here.
Top image: Two rings from the "Nurture By Reena" line of lab-grown diamond jewelry created by renowned international award-winning designer Reena Ahluwalia.