Core Viewpoint - The price of lab-grown diamonds has significantly decreased, making them much more affordable compared to natural diamonds, leading to a surge in sales, particularly among younger consumers [3][5][9]. Price Trends - The price of 1-carat lab-grown diamonds has dropped from 8,000 yuan to 3,500 yuan, which is less than one-tenth the price of comparable natural diamonds [3]. - In 2023, the price of certified natural diamonds fell by 35% to 40%, with the most affected being diamonds between 0.5 to 3 carats, which saw a sales decline of 30% to 35% [12]. Market Dynamics - By 2024, China's lab-grown diamond production is expected to reach approximately 22 million carats, a year-on-year increase of 144.44%, accounting for 63% of global production [5]. - The global market share of lab-grown diamonds is projected to exceed 40% by 2025, representing an increase of over eight times since 2019 [9]. Consumer Behavior - Young consumers make up about 70% of the buyers in stores specializing in lab-grown diamonds, with sales doubling compared to the previous year [5]. - Many consumers express regret over their investments in natural diamonds due to significant depreciation, with some reporting a devaluation of up to 99% [12][13]. Industry Impact - The rise of lab-grown diamonds has pressured the prices of natural diamonds, with major companies like De Beers reducing prices of their products by up to 40% [12]. - The perception of diamonds as a long-term investment has been challenged, with many consumers now considering alternatives like gold as more reliable [13].

Core Insights - The price of lab-grown diamonds has significantly decreased, with the price of a 1-carat lab-grown diamond dropping from 8,000 yuan to 3,500 yuan, which is less than one-tenth of the price of a comparable natural diamond [1] - The market for lab-grown diamonds is expanding rapidly, with a projected production of approximately 22 million carats in China for 2024, representing a year-on-year increase of 144.44% and accounting for 63% of global production [3] - The perception of natural diamonds as a long-term investment is changing, with many consumers experiencing significant depreciation in the value of their natural diamond purchases [7][8] Price Trends - The price of certified diamonds has fallen by 35% to 40% over the past year, with the most affected categories being diamonds between 0.5 to 3 carats, which saw a sales decline of 30% to 35% [8] - De Beers has reduced the prices of its main products, specifically natural diamonds between 2 to 4 carats, by 40% [8] - In January 2024, De Beers further lowered the price of rough diamonds by approximately 10%, with an additional reduction of 10% to 15% in December of the same year [9] Consumer Behavior - A significant portion of consumers purchasing lab-grown diamonds are young people, making up about 70% of buyers, and sales have doubled compared to the previous year [3] - Many consumers who invested in natural diamonds are expressing regret, with reports of substantial losses in resale value, such as a diamond ring purchased for 100,000 yuan now valued at only 30,000 yuan [7] - The trend indicates a shift in consumer preference towards lab-grown diamonds due to their lower prices and comparable quality to natural diamonds [5]