Dublin, March 03, 2025 (GLOBE NEWSWIRE) -- The "Lab-Grown Diamonds: A Market Revolution or a Passing Trend?" report has been added to ResearchAndMarkets.com's offering.
After rapid growth and sales nearing USD9 billion in 2024, the lab-grown diamond jewellery market has slowed. Future challenges include competition, falling prices, sustainability concerns, stricter regulations, loss of perceived value and market saturation. However, opportunities exist through geographic expansion, product diversification and omnichannel strategies. Effective branding and positioning will be crucial for jewellery brands to overcoming these challenges and drive future growth.
The Lab-Grown Diamonds: A Market Revolution or a Passing Trend? global briefing offers detailed strategic analysis of the global Personal Accessories market by pinpointing growth sectors and identify factors driving change. The report identifies leading companies and brands within the keenly contested, fashion-driven competitive landscape, trend developments, economic/lifestyle influences, seasonal patterns, market and distribution strategies. Forecasts illustrate how the market is predicted to develop between mature and emerging countries, threats facing the business as well as opportunities to be seized for further growth.
Key Findings
After explosive growth, sales of lab-grown diamond (LGD) jewellery began to slow down
After explosive growth and sales nearing USD9 billion in 2024, the lab-grown diamond jewellery market has begun to slow down. While LGDs initially attracted both new consumers - who might not have otherwise purchased diamond jewellery - and traditional buyers seeking greater value, growth is now being tempered by increased competition, falling prices, growing scrutiny over sustainability and ethical claims, and stricter regulations.
Opportunities exist beyond the US and the bridal market
The US is by far the largest market for lab-grown diamonds, accounting for 70% of global sales of lab-grown diamond jewellery in 2024. Beyond geographic expansion, there are several key growth opportunities. Affordability continues to be a major selling point, attracting budget-conscious consumers. Product diversification into categories such as bracelets and earrings allows brands to move beyond the highly competitive bridal segment. Effective positioning and branding will be critical for differentiation, while an omnichannel presence, blending online and offline retail, can expand reach and enhance customer engagement.
Regulation, positioning and dropping prices among main threats to future growth
Lab-grown diamonds face several challenges that could impact future growth, including loss of perceived value as prices decline, stricter regulations on labelling, marketing and sustainability, and increasing market saturation. Additionally, macroeconomic conditions may affect consumer spending, while shrinking profit margins will force brands to refine their strategies to stay competitive.
Report Scope:
- Product coverage: Bags and Luggage, Jewellery, Traditional and Connected Watches, Writing Instruments.
- Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
Key Topics Covered:
Executive summary
- Lab-grown diamonds, the bright spot in a modest growing industry
- Overall luxury slowdown and cost-of-living crisis cause jewellery growth deceleration
- The surge of lab-grown diamonds
The size of the prize
- Preference for diamonds differs significantly across regions and drops post-pandemic
- The diamond industry navigates uncharted waters as prices continue to decline
- Italy, the US and Australia see the largest penetration of lab-grown diamonds
- A fragmented market: Unbranded products, small players and well-known brands
- Retail e-commerce expands the reach of lab-grown diamond jewellery
- Demographics, fine jewellery demand and LGDs' positioning define potential markets
- LGD jewellery players must adapt their strategies as growth begins to moderate
Upsides to LGD outlook and the US market role
- Five trends to favour growth of lab-grown diamonds in the years to come
- US accounts for over two thirds of LGD sales in 2024, but opportunities exist beyond
- Australia: LGDs have gained share from natural diamonds but growth appeared to peak
- Canada: Growth expected as consumers value affordability and sustainability of LGDs
- Germany: LGDs' increasing popularity set to change bridal jewellery trends
- India: Stable growth from consumer demand, brand expansion and government support
- Italy: Diamond industry raises concerns amidst growing popularity of LGDs
- US: Fine jewellery players maintain opposite perspective on LGDs
- US: LGDs thrive amidst economic uncertainty but slow down as prices continue to fall
- US: Customer interest in LGD jewellery becomes more specific and broader
- US: Diverging approaches to LGDs between luxury and non-luxury players
- US: Review of product portfolios among key LGD players across four categories
- US: Opportunities for expanding the LGD jewellery market - a product perspective
- US: Size vs price dilemma - competition is stronger for smaller diamonds
- Expansion in the US: Capitalising on new segments and customer priorities
Downsides to LGD outlook and challenging markets
- What could limit LGD growth in the coming years?
- Regulations and consumers' preferences challenge LGD growth in Asia and Europe
- China: LGDs must go beyond traditional diamond values to resonate with consumers
- Japan: LGDs remain niche and unlikely to see significant growth in the near future
- France: Natural diamond brands' response slows down LGD growth
- UK: LGD prospects fluctuate amidst regulations and market fragmentation
Conclusion
- Lab-grown diamonds: A market revolution or a passing trend?
- How different are lab-grown and natural diamonds consumers?
- Recommendations for growth
- Evolution of LGD jewellery
For more information about this report visit https://www.researchandmarkets.com/r/drnr90
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