Global LGD market expected to reach $49.9 bn by 2030

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Global LGD market expected to reach $49.9 bn by 2030

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The global lab-grown diamonds (LGD) market size was valued at $19.3 bn in 2020 and is projected to reach $49.9 bn by 2030, registering a Compound Annual rate Growth (CAGR) of 9.4% from 2021 to 2030.
The lab-grown diamonds market was significantly impacted during the initial phase of the pandemic, however, the market has started rebounding toward the end of 2020. Disruption in the supply chain across China and later from India negatively impacted the market, as these countries are the top exporters of lab-grown diamonds and hold a significant lab-grown diamonds market share across the world. Nevertheless, the market is expected to gain high momentum in upcoming years due to emerging lab-grown diamonds market trends.
Depending on the size, the below 2-carat segment is the most widely used diamond for both industrial and fashion purposes. By nature, the colourless segment leads in terms of market share, however, the coloured segment is expected to gain high popularity during the forecast period.

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished