Xin Hua Wang·2025-09-24 08:52Core Insights - The cultivated diamond market is projected to grow significantly, with global market size expected to increase from $25.89 billion in 2024 to $74.45 billion by 2032 [4] - China's cultivated diamond market is also showing strong growth, with a projected export total of $12.296 million for rough diamonds in 2024, marking an 82.11% year-on-year increase [4] Group 1: Market Dynamics - The demand for cultivated diamonds has surged due to changing consumer perceptions and the advantages of cultivated diamonds over natural ones [9] - Cultivated diamonds are produced in a much shorter time frame compared to natural diamonds, with a one-carat diamond taking as little as one week to grow [9] - The Chinese cultivated diamond industry is expected to produce approximately 22 million carats in 2024, a 144.44% increase year-on-year, accounting for 63% of global production [15] Group 2: Consumer Trends - Young consumers are increasingly viewing cultivated diamonds as fashionable choices rather than investment options, with significant engagement on social media platforms [12] - There is a growing trend of consumers purchasing cultivated diamond jewelry as a form of self-reward and personal expression [12] Group 3: Industry Challenges - The cultivated diamond industry faces challenges such as uneven development across the supply chain and a lack of consumer awareness [14] - There is a misconception among consumers that cultivated diamonds are equivalent to "fake diamonds," which hinders market penetration [14][20] Group 4: Strategic Recommendations - To enhance the industry, there is a need for improved collaboration across the supply chain, particularly in the cutting and polishing segments [21] - The establishment of standards and a national testing center for cultivated diamonds is underway to bolster consumer confidence and market education [22] - Companies are encouraged to focus on brand value and consumer education to reshape perceptions of cultivated diamonds [23]