Press release
Lab-Grown Diamonds Captivate Global Markets in 2025: Traditional Gem Industry with Tech & Ethics | Henan Huanghe Whirlwind CO., Ltd., BHANDERI LAB GROWN DIAMONDS, New Diamond Technology, Mini Diamonds (I) Ltd., SP3 Diamond Technologies LLP
Lab Grown Diamonds Market
Japan's lab‐grown diamond market was worth US$ 2,365.22 million in 2024. It is projected to reach US$ 4,175.85 million by 2031, at a CAGR of 8.43% (2025-2031).
In February 2025, serial entrepreneur Priyanka Gill, venture partner at Kalaari Capital and co-founder of Good Glamm Group, launched COLUXE, a lab-grown diamond brand focused on providing an eco-friendly option without sacrificing quality.
In February 2025, Rupesh Jain, founder of Candere by Kalyan Jewellers, made a comeback to the jewelry industry with a new venture centered on lab-grown diamonds (LGDs).
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Latest M&A
Fenix and Dholakia Lab-Grown Diamonds jointly acquired Israeli grower Lusix for $4 million. Lusix uses solar power for diamond growth and this acquisition strengthens the companies' innovation and production capabilities with a focus on sustainability.
India's LGD market is poised for expansion with increasing investments as producers view India as a key growth market, driven by the country's manufacturing capacity and consumer demand.
Top Industry Players:
✅ ABD Diamonds: Holds a strong presence in the LGD sector, known for high-quality CVD-grown diamonds catering to both jewelry and industrial uses.
✅ WD Advanced Materials, LLC: Specializes in HPHT diamond production, commanding a solid share due to its industrial-grade synthetic diamonds.
✅ Adamas One Corp: A leading player with diversified LGD applications, including jewelry and electronics, expanding rapidly through strategic partnerships.
✅ Henan Huanghe Whirlwind CO., Ltd.: One of the largest manufacturers in China, dominating volume production with cost-effective HPHT diamond materials.
✅ BHANDERI LAB GROWN DIAMONDS: Recognized for premium quality LGDs in the Indian market, steadily growing its footprint in luxury jewelry segments.
✅ New Diamond Technology: Innovator in HPHT technology, capturing a niche market with ultra-pure synthetic diamonds for scientific and industrial sectors.
✅ Mini Diamonds (I) Ltd.: Key Indian player focused on CVD diamonds, gaining market share through affordable, mid-range LGD offerings.
✅ SP3 Diamond Technologies LLP: Emerging player investing in R&D to produce customizable LGDs, aiming to disrupt traditional markets with innovative solutions.
✅ Mittal Diamonds: Known for integrating LGD materials into its global jewelry supply chain, leveraging scale to increase market penetration.
✅ De Beers Group: Industry giant transitioning to LGDs with its Lightbox brand, disrupting the market by offering competitively priced lab-grown diamonds to consumers.
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Key Segments:
By Manufacturing Method: High Pressure High Temperature (HPHT), Chemical Vapor Deposition (CVD)
By Type: Polished, Rough
By Nature: Colorless, Colored
By Size: Below 2 Carats, 2-4 Carats, Above 4 Carats
By Application: Fashion, Industrial
Regional Analysis for Market:
✅ North America - 35%
✅ Europe - 25%
✅ Asia-Pacific - 30%
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New Product Launches
Aukera launched its Champagne Collection featuring exquisite champagne-shaded lab-grown diamonds in various cuts and sizes up to 20 carats, targeting markets like Hyderabad and expanding rapidly across India.
Leading brands continue to introduce personalized collections and affordable LGD-based bridal and fashion jewelry, capitalizing on trends for sustainable luxury and value-for-money.
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