Skip to content
Special Diamond Edition label

the future of trade

BEYOND JEWELLERY: GROWTH FRONTIERS IN LGD FROM LUXURY AND FASHION TO ADVANCED TECHNOLOGY

EXPLORING THE GLOBAL EVOLUTION OF LAB-GROWN DIAMONDS

Lab-grown diamonds (LGDs) have evolved from scientific curiosity to a mainstream commercial force, reshaping both consumer and industrial markets.

Once positioned as a substitute for mined stones, LGDs are now a category in their own right: affordable, ethical, and technologically advanced.

LAB-GROWN DIAMONDS:
AN EMERGING POWER IN GLOBAL TRADE

01
THE EVOLUTION OF LAB-GROWN DIAMONDS
02
LGD JEWELLERY APPLICATIONS
03
A BREAKTHROUGH INTO FASHION AND LIFESTYLE
04
ESTABLISHED USE CASES IN TECHNOLOGY
05
ESG: A DECISIVE ENABLER OF LGD ADOPTION
06
FUTURE TRENDS IN LGD
 
 

01
LGD DISCOVERY, CONSUMER MARKET ENTRY AND DIVERSIFICATION

Download report

The evolution of the lab-grown diamond industry has followed a predictable foresight path: signals first emerged in the 1950s, patterns formed in the 2000s, and full-blown trends took off in the 2010s. The industry’s trajectory is now defined by three growth tracks: Industrial, Jewellery & Fashion, and Technology. 

 
 

02
REDEFINING MODERN LUXURY

Download report

Lab-grown diamonds have transformed from niche alternatives into a mainstream luxury choice. Their affordability, ethical sourcing, and design flexibility are redefining consumer expectations while younger generations drive demand for transparency and style. 

With Dubai emerging as a key global hub, LGDs are setting new standards of accessibility, creativity, and consistent high quality in modern jewellery.

 
 

03
FROM HEIRLOOM TO HIGH-STYLE

Download report

LGDs are moving beyond fine jewellery into fashion, watches, and lifestyle design. Brands such as Prada and Breitling are embracing them as symbols of creativity and sustainability. Lower costs and design freedom make experimentation possible, transforming diamonds from heirlooms into expressive, contemporary materials that capture the spirit of modern luxury and ethical innovation.

 
 

04
FROM LUXURY TO FRONTIER SCIENCE

Download report

Once prized for beauty alone, lab-grown diamonds are now powering technological breakthroughs. Their unmatched hardness, thermal conductivity, and optical clarity position them as strategic materials for semiconductors, quantum computing, and advanced energy systems. As innovation accelerates, LGDs are set to bridge luxury and science, becoming integral to the world’s next generation of high-tech solutions.

 
 

05
PROOF OVER PROMISE

Download report

Sustainability has become a defining benchmark for LGD producers. The industry is shifting from pledges to proven impact, embracing renewable energy, transparent reporting, and verified ESG standards. Leaders like Diamond Foundry demonstrate that measurable environmental action not only strengthens brand credibility but also drives long-term competitiveness across both jewellery and high-technology markets.

 
 

06
GROWTH ENGINES DRIVING LGD DEVELOPMENTS

Download report

The next phase of LGD growth will be shaped by innovation, sustainability, and cross-sector collaboration. As jewellery expands into fashion and technology moves toward commercialisation, Dubai’s world-class infrastructure and regulatory ecosystem position it as the global convergence point for the future of the lab-grown diamond industry.

SWAROVSKI CASE STUDY: CRAFTING CULTURAL RELEVANTS IN THE LGD ERA

A legacy reinvented

Swarovski’s decision to enter the LGD space reflects a seamless evolution of its 130-year heritage in craftsmanship and innovation. Through its Luxignite strategy, the brand positions lab-grown diamonds as a natural extension of its legacy, not a substitute, but a symbol of human-made brilliance.

Global scale and emotional connection

From a 2022 pilot in eight U.S. stores, Swarovski expanded to over 450 stores in 20+ countries, reinforcing LGDs as aspirational rather than alternative. Dedicated “Created Diamond” rooms, proprietary cuts, and strict pricing discipline have elevated the brand’s perception and consumer trust.

The brand lesson

Swarovski demonstrates that value in the LGD era is brand-made, not material-given. By leading with cultural storytelling and emotional resonance, it reframes lab-grown diamonds as design-led, aspirational symbols of modern luxury.

“We position lab-grown diamonds as the pinnacle of the brand. It creates a halo effect – just having them in the store elevates the entire assortment and increases sales of our crystal jewellery.’’

ellipse_38 Peter Widmann, Global General Manager, Swarovski

BUILDING THE FUTURE OF THE LAB-GROWN DIAMOND INDUSTRY

Jewellery

  • Building an aspirational brand identity
    LGDs must evolve beyond affordability and sustainability narratives to become symbols of aspiration, individuality, and cultural relevance. Success depends on positioning LGDs as desirable in their own right rather than as substitutes for mined diamonds.

  • Establishing grading standards
    As grading norms diverge (IGI's 4C reports vs. GIA's simplified descriptors), the LGD industry must establish unified standards to prevent consumer confusion and preserve market credibility.

  • Strategic retail positioning
    Retailers must integrate LGDs more deeply into bridal and fashion categories with clear value segmentation and disciplined pricing to avoid commoditisation through excessive discounting.

Fashion & Lifestyle

  • Design-led innovation
    LGDs must be leveraged as a creative material, enabling new forms, colours, and applications that align with fashion and lifestyle trends. LGDs should be positioned as design-forward originals, not imitations.

  • Cross-industry collaboration 
    Stronger partnerships between LGD producers and fashion/lifestyle brands are essential to commercialise innovation. Co-development accelerates product cycles and market entry.

  • Ensure scalable supply
    Designers need reliable LGD access across all quality levels and formats, from couture to mass market. This requires technological advances in synthesis and post-processing to match different applications and market cadences.

High-tech Applications

  • Scalable production of large, high-purity crystals 
    Current growth techniques must advance to deliver larger wafers and crystals at lower cost while maintaining defect-free quality.

  • Doping and integration advances 
    Reliable, cost-effective diamond doping (boron, nitrogen control) and integration into semiconductor/photonic systems are essential.

  • Reducing production costs
    CVD and HPHT costs must fall to compete with silicon carbide and gallium nitride, dropping from thousands per wafer.

Explore More Editions of Future of Trade

DOWNLOAD YOUR FUTURE OF TRADE [LAB-GROWN DIAMOND] REPORT
DMCC Logo Future of Trade Logo

Have questions? Want to chat more?
Reach out to our experts!
Contact Us

All rights reserved. Copyright DMCC ©2025