Lab Created Diamonds Have Changed the Diamond Industry: ABD Diamonds

CUMMING, Ga. - Jan. 18, 2022 - PRLog -- Diamond is one of the most popular jewels for centuries and this popularity never seemed to take the hit. ABD Diamonds - one of the best lab grown diamond Jewellery manufacturers says that lab-grown diamonds have gained immense popularity in the past few years and they are a perfect substitute for natural or mined diamonds that have left a negative impact on our environment.

The estimated market size of lab created diamonds was $1.9 billion in 2018 and it is expected to inflate to become a $5.2 billion industry by 2023. Quite a few factors are driving the growth of the lab-created diamond industry. According to team ABD, technological advancements are one of the key drivers of this massive growth. The production will get even better due to rapid technological advancements. It will push the prices lower resulting in a higher market share.

Various studies suggest that the core customer base of lab created diamonds are millennials who are environmentally conscious and they look for an affordable alternative without compromising on quality.

Lab grown diamond Jewellery has achieved the gem-quality standard in a very short time span. No wonder, it is one of the strongest contenders in the global Jewellery market. It has established itself as a reliable, affordable, and sustainable option. The market share of lab-grown diamonds has increased quite significantly over the years. It is no surprise that a giant like De Beers has also decided to jump into the artificial diamond arena. The company even invested over $94 million in lab created diamonds a few years ago. The popularity of natural diamonds is on the decline and lab-grown diamond Jewellery is all set to bridge the supply gap.

Team ABD Diamonds said that lab created diamonds (https://abddiamonds.com/lab-grown-diamonds/) have all the makings to rule the market and it is pretty much doing that already.