The global market for lab-grown diamonds was valued at approximately $29.46 billion in 2025. It is expected to expand significantly, reaching $33.54 billion in 2026 and continuing to grow at a compound annual growth rate (CAGR) of 13.42%, ultimately hitting $91.85 billion by 2034.
This growth is driven by increasing consumer demand for sustainable and ethically sourced diamonds, as well as advancements in production technology that have improved quality and reduced costs. The rising popularity of lab-grown diamonds in jewelry and industrial applications is also contributing to market expansion.
**Why this matters**
The rapid growth of the lab-grown diamond market reflects shifting consumer preferences toward environmentally friendly and socially responsible products. This trend has implications for traditional diamond mining industries and could influence global supply chains and pricing structures in the gemstone market.
Source: NewsData