The Tipping Point: Lab-Grown Diamonds Now Dominate the Engagement Ring Market

A historic shift has taken place in the fine jewelry industry—for the first time ever, over half of all engagement rings sold feature lab-grown diamonds. According to the latest Rapaport Report, 52% of engagement rings purchased in 2024 contained lab-grown diamonds, marking a defining moment in consumer preferences and the future of the diamond industry.

Lab-Grown Diamonds Have Officially Gone Mainstream

For years, lab-grown diamonds have steadily gained popularity, offering an ethical, sustainable, and cost-effective alternative to mined diamonds. However, this latest data from Rapaport confirms what industry insiders have been predicting—lab-grown diamonds are no longer a niche choice, but the new standard.

This is the first year in history that lab-grown diamonds have surpassed mined diamonds in engagement ring sales, signifying a major shift in consumer priorities.

What’s Driving This Shift?

Several key factors are fueling this transformation:

• Value for Money: Lab-grown diamonds offer bigger, better-quality stones for the same budget, making them an attractive option for modern couples.

• Sustainability & Ethics: Consumers are increasingly choosing conflict-free, environmentally responsible diamonds over those extracted from the earth.

• Changing Consumer Mindset: Younger generations value transparency and innovation, favoring technology-driven solutions over outdated traditions.

• Market Accessibility: More major brands, including luxury houses and mainstream retailers, are investing in lab-grown diamond collections, further solidifying their status in the market.

A Challenge for the Traditional Diamond Industry

The rise of lab-grown diamonds presents a direct challenge to the traditional diamond mining industry. With demand for mined diamonds declining, companies that rely on natural stones are being forced to adapt. Even De Beers—historically the strongest advocate for mined diamonds—has significantly lowered prices and increased its own offerings of lab-grown diamonds through its Lightbox Jewelry brand.

This shift also raises questions about the future value of mined diamonds. If the majority of new engagement rings now feature lab-grown stones, will natural diamonds retain their premium perception?

What This Means for the Future of Engagement Rings

• Lab-grown diamonds are now the norm, not the exception. The numbers don’t lie—over half of all couples are now choosing lab-grown diamonds over mined ones.

• Retailers must adapt or risk falling behind. Jewelry brands that fail to offer high-quality lab-grown options may lose relevance in a rapidly evolving market.

• Sustainability is no longer optional. As ethical sourcing becomes a non-negotiable factor for buyers, the jewelry industry must continue prioritizing responsible production methods.

Conclusion: The Era of Lab-Grown Diamonds Is Here

The Rapaport Report confirms what many in the jewelry world have suspected—the future of diamonds is lab-grown. Consumers have spoken, and they are choosing innovation, transparency, and sustainability over outdated traditions.

At Nangi, we’ve been pioneering lab-grown diamonds since 2019, and we are excited to see the industry finally catching up. If you’re looking for an engagement ring that reflects the values of today’s world—ethical, sustainable, and breathtakingly beautiful—lab-grown is the way to go.

Explore our collection of lab-grown diamond rings and be part of this historic shift.