India Lab Grown Diamond Jewelry Market to Surge to USD 1571.4 million by 2035 Driven by Sustainability and Innovation

The India Lab Grown Diamond Jewelry Market is experiencing remarkable growth, with its value projected to rise from USD 395.2 million in 2025 to USD 1,571.4 million by 2035. This reflects a robust compound annual growth rate (CAGR) of 14.8% over the forecast period, highlighting the increasing adoption of sustainable, cost-effective, and aesthetically superior alternatives to mined diamonds.

Rising awareness about ethical sourcing, environmental benefits, and technological advancements in diamond production are fueling consumer acceptance of lab grown diamonds. Urban and semi-urban markets in India are witnessing growing demand, driven by younger demographics seeking sustainable luxury without compromising on quality or style.

Technological Advancements Shaping the Market

India's lab grown diamond jewelry sector is benefiting from advancements in production technology, particularly the chemical vapor deposition (CVD) technique, which is expected to account for 54.6% of total market revenue by 2025. CVD allows manufacturers to create high-quality, larger diamonds with fewer impurities, consistent performance, and cost efficiency. This method is increasingly preferred over traditional high pressure high temperature (HPHT) techniques due to its scalability and ability to produce gem-quality stones for both domestic and export markets.

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Integration of smart technologies in the production process is enabling manufacturers to design complex and luxurious jewelry pieces, catering to high-end consumer segments while maintaining affordability. This trend positions India as a prominent hub for both domestic sales and polished diamond exports.

Segment Insights: Bangles Lead Consumer Demand

The bangles segment is projected to account for 32.7% of total market revenue in 2025, making it the leading application category. The cultural affinity for bangles, combined with rising demand for premium yet ethical jewelry, has strengthened their market position.

Lab grown diamond-studded bangles appeal to consumers due to their affordability, eco-friendly sourcing, and design flexibility. Enhanced customization options have allowed designers to merge traditional styles with contemporary trends, further boosting popularity among younger buyers. Bangles now serve as both a fashion statement and a symbol of sustainability.

Faceted Cuts and Jewelry Styles Dominate

Within the cut type category, faceted diamonds hold a dominant 68.2% of the market revenue share in 2025. The popularity of faceted styles lies in their brilliance, light reflection, and timeless elegance. Rings, earrings, necklaces, and pendants crafted with faceted diamonds are particularly favored for their visual appeal and durability.

Faceted diamond jewelry resonates with consumers seeking pieces that combine sophistication, fashion-forward aesthetics, and ethical values, positioning it as the most sought-after style across India's lab grown diamond market.

Rising Demand Among Working Women and Millennials

Changing lifestyles and increasing disposable incomes among working women are major growth drivers. Women in India are not only entering the workforce in larger numbers but are also becoming entrepreneurs, leading to greater spending power and preference for stylish, affordable, and ethical jewelry.

Lab grown diamonds are increasingly chosen for everyday wear, special occasions, weddings, and festivals. The flexibility to match jewelry with outfits, combined with sustainable sourcing, makes them particularly appealing to the modern, conscious consumer. Millennials are driving adoption further, favoring environmentally friendly options over traditionally mined diamonds.

Sustainability and Ethical Considerations Fuel Growth

Environmental concerns are a key factor influencing consumer preference for lab grown diamonds. Unlike mined diamonds, lab grown diamonds cause minimal environmental impact, supporting a sustainable jewelry industry.

This shift toward eco-conscious purchases is encouraging retailers and manufacturers to emphasize sustainability in their branding and marketing campaigns. Companies leveraging this trend are attracting environmentally aware consumers, enhancing brand loyalty, and establishing a strong market presence in India's growing lab grown diamond jewelry sector.

Market Outlook: Domestic Growth and Export Potential

India is emerging as a global hub for lab grown diamond processing and exports. In recent years, lab grown diamond exports from India reached USD 443 million, with a remarkable 60% year-on-year growth. Meanwhile, exports of natural diamonds have seen a decline of 40% year-on-year, signaling a clear shift toward lab grown alternatives.

Key policy support, including reduced custom duties on diamond seeds and encouragement for local production, is likely to further boost the domestic industry. Manufacturers are investing in scaling production, leveraging digital marketing, and exploring new distribution channels to reach wider consumer bases.

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Product Preferences: Necklaces and Rings Drive Revenue

Among jewelry types, necklaces and rings are the most lucrative, each accounting for 26% of the total market share. Lab grown diamonds in these products are appreciated for their ethical sourcing, affordability, and reduced maintenance requirements compared to natural diamonds.

Jewelry merchants are offering a variety of designs and settings, from traditional to contemporary, expanding the market appeal across diverse consumer segments. The growing popularity of polished and faceted diamonds further supports revenue growth in these categories.

Competitive Landscape: Established and Emerging Players

The India Lab Grown Diamond Jewelry Market is moderately fragmented, with both established companies and new entrants competing to capture market share. Leading players include Avtaara, Jewelbox, Limelight Lab Grown Diamonds Ltd., SYNDIORA, Fiona Diamonds, Ananta, DiAi Designs, Maiora Diamond, and Wondr Diamonds.

Established players focus on expanding product lines, enhancing design sophistication, and targeting high-value exports. Meanwhile, emerging players leverage digital marketing, social media platforms like Instagram, Facebook, and Pinterest, and innovative designs to attract younger audiences.

For instance, Ananta, a relatively new entrant, has successfully tapped into digital platforms to increase brand visibility and reach tech-savvy consumers. Similarly, Rohin Diamonds has grown into a key supplier of loose CVD diamonds in the Netherlands, exemplifying India's growing global footprint in lab grown diamonds.

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