The $80 billion mined-diamond industry is at a tipping point as man-made diamonds are offering consumers a new option. Today the lab-grown diamond industry is estimated by Morgan Stanley to represent less than 1% of the global market for rough diamonds, with sales between $75 to $200 million. A new study by MVI Marketing found millennial consumers are increasingly interested in lab-grown diamonds, especially premier diamond-engagement rings (a category that targets millennials). “Millennials are telling the jewelry industry this is a product they are interested in and will come into the store to look at it. Lab-grown diamonds meet that demand, while mined-diamonds fall short.

Source: Forbes May 10, 2018 12:37 UTC