In a new report called 2022 Pipeline – Embracing Reality: Hybrid Diamond Jewelry, written by Pranay Narvekar and Chaim Even-Zohar, and published by IDEX Online, the authors analyze and discuss the state and trends of both the natural diamond and the lab-grown diamond industry in 2022.
Narvekar and Even-Zohar bring by saying that they are “adapting to reality and coining a new term” – Hybrid Diamond Jewelry – “to describe a piece of jewelry that features both natural and lab grown diamonds.” This new category, they claim, must be one of three diamond jewelry: categories offered by retailers, along with natural and lab grown set jewelry.
According to the authors, the natural diamond jewelry retail market in 2022 totaled $73.85 billion, while the lab grown retail market mushroomed to $12.24 billion. While there aren’t available numbers on the share of hybrid diamond jewelry out of the $86.09 billion global diamond, it is growing.
Most of the hybrid diamond jewelry market, they explain, comes “from lab grown companies seeking to upgrade their product for marketing purposes.” They conclude that this would value the diamond jewelry retail market at around $73.00 billion, lab-grown diamond jewelry retail sales at $10.69 billion, and hybrid diamond sales in 2022 at $2.4 billion.”
The authors then go on to discuss jewelry consumption and trends in major markets in recent years, fragmentation of rough supplies, the lab-grown pipeline, stores closing and 2023 predictions.
Read the full report here
Courtesy of Pranay Narvekar, Chaim Even-Zohar, and IDEX Online
