A new report by Reportlinker.com, titled “Global Synthetic Diamonds Industry”, claims that the global lab-grown diamond market will reach $17.9 billion by 2027, according to a press release.
The market, which was estimated at $12.8 billion in 2020, is growing at the compound annual growth rate (CAGR) of 4.9% over the period 2020-2027. The rough segment is projected to record 4.8% CAGR and reach $12.1 billion by the end of 2027. “Taking into account the ongoing post pandemic recovery,” the report says, growth in the polished segment is projected to record 5.1% CAGR for the next 7-year period.
According to the report, China is projected to reach a market size of $3.7 billion by 2027. Japan and Canada are forecast to grow at 2% and 5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 2.5% CAGR for the same period.
