How Chinese Consumers Crashed the Lab Grown Diamond Market скачать в хорошем качестве

How Chinese Consumers Crashed the Lab Grown Diamond Market

Diamonds Are Forever... Until They're Not In the past few years, lab-grown diamond prices have collapsed by over 70%. What used to be a premium alternative is now often worth almost nothing on the resale market. Retailers are hesitant. Wholesalers are overstocked. And many consumers are left wondering if they bought into a dream—or a bubble. The Rise of Lab-Grown Diamonds Lab-grown diamonds are identical to mined diamonds—chemically, visually, and structurally. But they cost a fraction of the price. That affordability, paired with their ethical and sustainable appeal, made them extremely popular with Millennials and Gen Z. Between 2018 and 2022, brands like Pandora and even De Beers embraced them. By 2023, lab-grown gems made up 10% of all diamond jewelry sales globally. The Crash As demand soared, supply exploded. China became the world's top producer—accounting for half of all lab-grown diamonds. Factories in Henan churned out over a million carats a year. India’s diamond-cutting hubs joined in too. But then demand slowed. Inventory piled up. And by late 2023, global polished diamond stock hit $20 billion—a 5-year high. Lab-grown rough prices dropped by 85%. Retail prices dropped by 80%. What cost $3,000 in 2022 sold for under $900 by 2024. Today, lab-grown diamonds sell for just 10–15% the price of natural ones. The China Effect For years, China was a diamond powerhouse. In just five years, diamond sales tripled to $22.8 billion. But around 2021, that momentum crashed. Marriage rates halved from 13 million in 2013 to 6.8 million in 2022. Youth unemployment soared. A real estate crisis wiped out savings. As a result, diamond sales fell 40–50% in just two years. Cultural Shift: Diamonds Lose Their Shine Young Chinese buyers began favoring gold—long seen as a symbol of wealth and safety. Diamonds? They started being called an "IQ tax" on social media—an expensive mistake when cheaper, identical lab-grown versions exist. Many Gen Z buyers now prefer: Gold Lab-grown diamonds Or no ring at all Did Lab-Grown Diamonds Save the Market? They helped—but couldn’t fix everything. Yes, Millennials and Gen Z embraced lab-grown stones. But: Fewer marriages = fewer rings. Too much supply = flooded markets, even within China. So even lab-grown sales couldn’t offset the massive drop in demand. Industry-Wide Impact De Beers slashed prices and reduced production by 20%. Lab-grown producers filed for bankruptcy. Indian factories laid off thousands. Chinese production slowed down. Many retailers now refuse to buy back lab-grown diamonds. A New Normal? Some insiders believe lab-grown diamonds will become fashion items, not investments. De Beers' Lightbox brand now sells lab-grown gems at $500 per carat. Retailers offer small natural stones for traditional buyers, and large lab-grown ones for trend-conscious shoppers. But in China, the future is unclear. Will the economy recover? Will gold continue to dominate? Or will a new trend take over?