Lab-Grown Diamonds Shine as Natural Gem Prices Crumble

Brides-to-be are snapping up bigger, cheaper lab-grown rocks, challenging the once-untouchable natural diamond market

Jan. 28, 2026 at 3:55pm

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Lab-grown diamonds are taking over the engagement ring market, with brides-to-be opting for bigger, more affordable lab-grown stones over traditional mined diamonds. The natural diamond industry, led by De Beers, is feeling the heat as demand for lab-grown gems grows and prices for mined stones are being slashed. Couples are choosing lab-grown diamonds not just for the cost savings, but also for their ethical and environmental benefits.

Why it matters

The rise of lab-grown diamonds is disrupting the traditional engagement ring industry, which has long been dominated by the prestige and marketing of natural, mined diamonds. This shift reflects changing consumer priorities, with younger buyers placing more value on affordability, sustainability, and personal values over the perceived status of mined stones.

The details

Lab-grown diamonds are now widely available at major U.S. jewelers, often costing 30% to 70% less than mined diamonds of the same size and quality. Couples are taking advantage of the cost savings to upgrade to larger stones, custom settings, or matching bands that would have been out of reach with natural diamonds. Meanwhile, the mined diamond industry has faced slowing demand and pricing pressure, with producers like De Beers quietly cutting prices to compete with the growing lab-grown market.

  • In the early 2000s, lab-grown diamonds first entered the commercial jewelry market.
  • In the 2010s, lab-grown diamond manufacturing technology improved, making them more competitive with mined diamonds in terms of price and quality.
  • In 2023, the global lab-grown diamond market was valued at more than $22 billion and is projected to grow to roughly $56.9 billion by 2032.

The players

Lisa Materna

A 34-year-old PR manager from Phoenix, Arizona, who has a lab-grown engagement ring and is open about its origins.

Michelle Bernstein

A 33-year-old animal behaviorist from The Bronx, New York, who has a lab-grown engagement ring that has become a conversation starter.

Mara Opperman

The 45-year-old co-founder of Louped (formerly I Do Now I Don't), a Diamond District–based marketplace for secondhand engagement rings.

Rachelle Bergstein

The author of 'Brilliance and Fire: A Biography of Diamonds' who discusses the industry's current identity crisis and the rise of lab-grown stones.

De Beers

The industry's longtime gatekeeper of engagement-ring prestige, which is quietly cutting prices on natural stones as demand slumps and lab-grown gems chew into its bridal stronghold.

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What they’re saying

“I have a lab-grown engagement ring and am obsessed with it.”

— Lisa Materna (The Post)

“If that's all that matters to you, then maybe you're getting married for the wrong reasons.”

— Lisa Materna (The Post)

“We wanted to find something that was comfortable for us, and most aligned with our ethics.”

— Jamie Evan Bichelman, Fiancé of Michelle Bernstein (The Post)

“People always stop me and say that my diamond ring is so beautiful. No one ever asks me if it's lab-grown, but I'm still always proud to say that it is.”

— Michelle Bernstein (The Post)

“Lab-grown diamonds are here to stay. You'll still have celebrities chasing the prestige of mined diamonds, and regular people at the same time saying, 'I still want a diamond — just something more affordable.'”

— Rachelle Bergstein, Author of 'Brilliance and Fire: A Biography of Diamonds' (The Post)

What’s next

As the lab-grown diamond market continues to grow, it will be interesting to see how the traditional mined diamond industry responds and adapts to the changing consumer preferences. The industry's long-standing marketing tactics and efforts to maintain the prestige of natural diamonds will likely face ongoing challenges.

The takeaway

The rise of lab-grown diamonds is a significant shift in the engagement ring market, driven by consumers' desire for more affordable, ethical, and sustainable options. This trend reflects a broader change in priorities, where couples are prioritizing value, personal values, and building a life together over the perceived status of mined diamonds.