The demand for natural diamonds remains strong despite the rise of lab-grown alternatives. Luxury brands continue to lead the way, emphasizing the value and enduring appeal of natural stones. Industry experts discuss the future of the diamond market, including price predictions and the evolving consumer landscape.
According to the latest statistics from the National Retail Federation, a significant percentage of gift givers, 22%, plan to bestow jewelry upon their recipients. This presents a compelling opportunity for savvy buyers, particularly in light of the current market dynamics. Sales of high-end diamond jewelry in the United States have demonstrated remarkable resilience, with overall jewelry sales experiencing a commendable 5.2% growth.
Further solidifying this trend, leading luxury brands have witnessed an even more pronounced surge in sales. These prestigious brands have effectively maintained their dominance by steadfastly emphasizing the enduring value proposition of natural diamonds over their lab-grown counterparts. Despite garnering considerable media attention, lab-grown diamonds currently only account for a modest 14% of the market share. Industry experts posit that lab-grown diamonds have reached a plateau as prices continue their downward trajectory. For instance, the price of a 1.5-carat lab-grown diamond has experienced a consistent decline every year since 2015, now plummeting to 83% lower. David Kellie, CEO of the Natural Diamond Council, engaged in a candid discussion with Fresh Living host Kaime Stroot, delving into prevailing diamond market trends. His insights extended to forecasting when he anticipates prices to potentially increase and illuminating the contrasting popularity of lab-grown diamonds versus natural diamonds
DIAMONDS LAB-GROWN NATURAL DIAMONDS LUXURY JEWELRY MARKET TRENDS
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