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

Global lab-grown diamonds market reached US$ 25.68 billion in 2024 and is expected to reach US$ 55.45 billion by 2032, growing with a CAGR of 10.10% during the forecast period 2025-2032.

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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