Why Lab-Grown Diamonds Offer the Ideal Choice for Millennials
It shines like a diamond that’s excavated from the ground, but this one is grown in the laboratory. Lab grown diamonds are physically, chemically and optically alike to mined diamonds, and they are the result of science and technology. After 60 years of technological advancements, technology has been perfected to produce diamonds in a lab that’s clearer, brighter and purer.
Created from technology
Diamonds grown in the lab begin with a carbon seed and are created using two methods: High-pressure high-temperature (HPHT) and chemical vapor deposition (CVD). Placed within a controlled chamber, both processes allow raw diamonds to be formed in a matter of weeks.
The introduction of lab grown diamonds in the market has seen a growth in the diamond jewellery market, with a forecast to grow at 22% annually to US$5.2 billion by 2023. In 2018, the United States Federal Trade Commission (FTC) expanded the definition of diamonds to include diamonds created in the labs, a move that acknowledges they are real gemstones.
Catering to today’s consumer demands
In the face of environmental decline, conscious sustainability holds an influence in today’s decision making in purchases. Millennial shoppers are increasingly aware of the environmental impact and moral cost of the goods they buy. Meanwhile, it is encouraging to know that lab grown diamonds take considerably less energy resources to be created in the lab.
They are sustainably sourced diamonds that fall in line with the concept of conscious luxury. By being considerably greener, conscientious consumers can continue making significant purchases, such as diamond wedding rings, without disregarding the environment.
With innovation and technology, the possibilities of jewellery became endless. The new generation of lab grown diamonds is opening a chapter of indulgence and guilt-free gifts. For the perfect diamond engagement ring, people want something that they will love for the rest of their lives and still stay within budget – and lab grown diamonds presents a perfect solution for them.
A basic 1 carat diamond engagement ring can set you back for a pretty penny, but lab grown diamonds offer the same carat weight with up to 50% savings. This means you can get a stone that’s 50% bigger and make a lasting impression. If you already have a budget in mind, you can be rocking with a bigger sparkle for the same price.
Shopping for a diamond jewellery has a long-standing tradition and intangible value in commemorating important milestones. For the millennials and even jewellery lovers, now you can create a big wow factor and get the best bang for your buck with the eco-friendly option of lab grown diamonds.