Welcoming the Year 2016
Forward Thinking : Laboratory Grown diamonds Economic Outlook
Madestones marks the beginning of 2016 with an overview at the promising future of laboratory grown diamonds. The Global Research and Consultancy firm Frost & Sullivan´s report indicates that the current scale of gem quality laboratory grown diamond production is estimated to be about 360 000 carats. The Production is estimated to reach almost two-million carats by 2018 and is expected to be more than 20-million carats by 2026.
Current Status: Production of Mined Diamonds
At the same time, the report shows that production of mined diamonds will diminish from the current level of around 125 million carats in 2015 to only 62 million carats in 2030. Whereas the annual demand for diamonds worldwide will reach 221 million carats by 2030. The laboratory grown diamonds provide a solution to the expected decline in the supply of mined diamonds, which is likely to affect the diamond industry’s economy by filling significant 13% demand supply deficit. In the years to come, with the reasons above combined with social and environmental responsibility and affordability, the lab-grown diamonds are forecasted to be a dominant player in the diamond jewelry industry.
The Consumer Perception – A study by Frost & Sullivan
Global Research and Consultancy firm Frost & Sullivan conducted a study on consumer perception. 1200 consumers from 6 countries were asked whether they would buy a lab-grown diamond.
The survey split the respondents into two groups where one group was educated about Lab-grown diamonds and the other group having no knowledge about lab-grown diamonds. In the latter group, around 24% to 36% of respondents were interested in buying lab-grown diamonds. However, in the first group, with adequate knowledge of lab-grown diamonds, an overwhelming 64% to 72% of respondents expressed interest in buying these diamonds.
For 2016 Madestones® will continue to challenge the mind set of traditional jewelers with new and viable ways to introduce laboratory grown diamonds to the buying public. ‘Madestones’ is not a disruptive force but a natural progression. Laboratory grown diamonds are not a substitute for natural diamonds but a new and very relevant option for progressive jewellers.
Madestones® is the largest distributor of laboratory grown diamonds in Europe. We will be exhibiting at Inhorgenta Munich 12-15 February booth C1-110 and at the Basel show 17-24 March booth A52 in the hall of Discovery (Hall 4U).