While the relative percentage of lab-diamonds directly competing with natural diamonds declines, overall LGD growth continues
NEW YORK, Jan. 11, 2024 /PRNewswire-PRWeb/ -- U.S.-based independent diamond and jewelry analyst Paul Zimnisky researches the cannibalization effect that man-made diamonds are having on natural diamonds in a new report titled "LGD Forecasted to Generate $10B in Incremental Diamond Jewelry Demand by 2026."
Zimnisky commented: "The percentage of lab-grown diamonds considered to be competing directly with natural diamonds in dollar terms is estimated to have fallen to approximately 60% from as high as almost 100% a decade ago."
He added, "this means that some 40% of current man-made diamond jewelry sales are incremental to the larger diamond industry –these are diamond sales that would not exist if lab-diamonds did not exist."
According to Zimnisky's forecasts, in 2024, global natural diamond jewelry sales will amount to around $72 billion while LGD jewelry sales will hit $18 billion, of which $7 billion will be "real incremental" sales for the larger industry.
The report goes on to discuss supply, demand and price catalysts for lab-created diamonds in 2024 and beyond.
The report can be read in its entirety here which includes a data visual. Please read the full disclosure below.
Paul Zimnisky, CFA is a globally recognized independent diamond industry analyst and consultant based in the New York metro area. His research and analysis on the diamond industry is used by financial institutions, management consulting firms, private and public corporations, governments, intergovernmental organizations and universities. More information can be found here. He can be reached at [email protected] and followed on X @paulzimnisky.
For detailed analysis of the natural and lab-grown diamond industry, please inquire to [email protected] for information on consultation rates and custom research capabilities. For subscription information or to request a sample of Paul Zimnisky's State of the Diamond Market, a leading monthly industry report which includes forecasts, data and trend analysis, please contact: [email protected].
For additional insights and analysis, listen to The Paul Zimnisky Diamond Analytics Podcast which can be streamed for free here or on Apple Podcasts or Spotify.
Disclaimer: The views expressed above are strictly that of Paul Zimnisky, and are based solely on observations and opinions. Paul Zimnisky has made every effort to ensure the accuracy of information provided, however, accuracy cannot be guaranteed. The information is strictly for informational purposes and should not be considered investment advice. Consult your investment professional before making any investment decisions. Paul Zimnisky does not accept culpability for losses and/ or damages arising from the use of the above content. Third party use of this content is only permitted with the permission of Paul Zimnisky. Please visit paulzimnisky.com for a full disclosure.
Media Contact
Paul Zimnisky, PZDA, 1 917-806-4555, [email protected], www.paulzimnisky.com
SOURCE PZDA
Share this article