A diamond, since ages have been the tangible object, that truly reflects the social and economic standing of a person. When it comes to relationships and gifts, it’s been a symbol of love, purity, and class. It is no wonder why diamond jewelry has been the most sought-after stones by men and women alike. Since diamond is such a treasure, a new breed of them has evolved in recent times. These are called lab-grown diamonds. There are now, lab-created diamond rings, necklaces, earrings and more.
In recent years, the growth of the lab-grown diamond jewelry has increased. Those in the know-how say a lab-created diamond necklace and the likes are the future. Here are 3 reasons which add strength to the statement, as to why lab-grown diamond jewelry is here to stay:-
1 Natural diamonds are in existence for hundreds of years. The first diamond discovery was made in South Africa. Since then, the production of a natural diamond means vast resources. Huge manpower is required. Large equipment, time, and finance are utilized as well. Moreover, after the process is complete, only 30% of diamonds are of gem quality. The rest of them are used for industrial purposes alone.On the other hand, lab-created diamonds are made with very little labor, energy, and finance. Therefore, lab-created diamond rings in the present day are gradually gaining popularity all across the world, among the diamond lovers.
2 As mentioned before, diamonds have always been a fascination among people. It appeals to the senses like nothing else. But, it has been decades that something new has come up in the diamond industry. We have long been using natural diamonds which vary in its cut, clarity, color, and carat. Lab-grown diamond is indeed an innovation. Though it has been in existence since the year 1952, it took much more time to create gem-quality diamonds. Finally, by the year 2014, colorless diamonds which are identical to natural diamond were created. Today, you can easily find stunning lab-created diamond wedding sets and other lab-grown diamond jewelry in the market.
3 In modern times, technology is continuously improving our lives and processes. Therefore, it was imperative it affects the diamond industry as well. The latest technologies have changed the face of the diamond jewelry industry. Lab-created diamond rings are now in preference which is identical to natural diamonds. The lab-grown diamond jewelry has made rapid progress. It is predicted to grow by 22% by the year 2023.
Adding to the three pointers, Morgan Stanley report states that lab-grown diamonds would take more than 7% of the total diamond market share by 2020. This is unprecedented! A recent survey was done among the people aged 21- 40 showed that 70% of people considered buying a lab-grown diamond for an engagement ring. The major attraction of lab-created diamond and the jewelry is the environment and the cost. The lab-grown diamonds cost 30 to 40% less when compared to the natural diamonds
Another exciting trend is the interest among the millennials for lab-grown diamonds. They love to experience diamonds at the jewelry counter. Therefore, diamond businesses must realize that it is now profitable to trade lab-grown diamonds Next time when you plan to buy diamond jewelry for your loved one, choose a precious lab-created diamond necklace. Lab-created diamond wedding sets are also a perfect gift. Evolv. is redefining the jewelry industry with a contemporary collection of lab-created diamond rings, necklaces, earrings, pendants, and more.