Diamond Industry Faces Significant Downturn Amid Rise of Lab-Grown Diamond

The diamond industry is experiencing a significant downturn, with natural diamond prices projected to fall another 15 to 20 percent over the next 12 months. This decline comes on top of a 30 percent drop since 2022, driven by the increasing popularity of lab-grown diamonds, falling marriage rates, and reduced consumer demand in China.

The diamond industry is in trouble.Erin Real explains.

Lab-grown diamonds have seen a remarkable surge in sales, growing from just 2 percent of the global diamond jewelry market in 2017 to almost 20 percent last year. This shift has had a. . .