Why Millennials And Gen Z Choose Lab Grown Diamonds For Their Engagements

Millennials and Gen Z are redefining luxury with their commitment to conscious consumerism, from everyday fashion and personal care to high-end items like diamonds. Forward-thinking brands have caught on, reshaping the jewelry industry with lab grown diamonds. What nature took over three billion years to create, we now make in just weeks, marking an incredible leap forward in ethical luxury.

Reflecting this trend towards conscious consumerism in the younger generations, The Knot’s 2023 Wedding Study reveals a shift in engagement ring preferences. Nearly one-third of couples report that having a lab grown diamond is important and almost half of all center stones are now lab created.

Explore the reasons behind this trend and find out why younger individuals are choosing to propose with lab created diamonds, signifying a shift in traditions and values.

Superior Quality

Lab grown diamonds offer superior quality due to their creation in controlled laboratory environments. These diamonds are produced using advanced technologies such as Chemical Vapor Deposition (CVD) and High Pressure High Temperature (HPHT), which mimic the natural diamond formation process but with a level of precision that nature can’t match. This controlled production eliminates common imperfections found in mined diamonds, such as blemishes and inclusions, resulting in diamonds with exceptional clarity and color. 

Lab grown diamonds also have the same chemical and physical properties as their natural counterparts, ensuring they sparkle and shine with equal brilliance.

Affordability and Diamond Size

Lab made diamonds cost 40 to 50% less than natural diamonds. This price difference makes diamonds accessible to more people, providing the same quality at a much lower cost. Lab grown diamonds offer couples the chance to get the biggest bang for their buck when it comes to the size of their diamond. A 2022 report found that engagement ring center stones have increased in carat size by 23% since 2019.

Embracing the idea that “bigger is better,” many buyers, especially those from the Millennial and Gen Z generations, are drawn to lab grown diamonds. They appreciate the blend of affordability and the possibility to own a larger, more striking diamond without breaking the bank.

Statement Jewelry

As awareness grows about the social impact of mined diamonds, including the funding of conflict regions, blood diamonds and unfair labor practices, more people are looking for jewelry that looks good and aligns with their ethical values. Lab created diamonds are a popular choice among Millenials and Gen Z buyers who want their jewelry to reflect their commitment to avoiding the negative social implications associated with traditional diamond mining. 

This shift is particularly evident in the choice of engagement rings, where more couples choose lab created diamonds for their beauty and the peace of mind that comes with knowing their symbol of love does not contribute to global injustices.

Easy Customization

These diamonds also offer an opportunity to make a different kind of statement. They allow for easy customization, enabling couples to add a one-of-a-kind diamond to their engagement rings. 

The process of creating lab grown diamonds allows for precise control over the size, shape and quality of the diamond, enabling couples to specify their exact preferences for a truly personalized piece. From choosing a particular cut that carries special meaning to selecting a design that reflects their unique style, lab grown diamonds give couples the ability to craft bespoke symbols of their love that are as individual as their stories.

Kind to the Earth

However, the appeal to younger buyers isn’t just about design, cost or social justice; it’s also about making greener choices. A 2018 survey conducted by MVI Marketing LLC revealed that 70% of consumers in the Millennial age group are open to purchasing lab grown diamonds as a way to lessen the environmental impact—such as carbon emissions, deforestation and loss of wildlife habitats—commonly linked with conventional diamond mining. 

Lab Grown Diamonds are Forever

More than 70 years after De Beers launched its iconic “A Diamond is Forever” campaign, the allure of diamonds as a symbol of eternal love remains strong. This slogan helped cement diamonds as the ultimate symbol of love and commitment, a tradition that has spanned generations. 

However, the way we define what makes a diamond special is undergoing a transformation, especially among Millennials and Generation Z. These younger generations are turning their backs on natural diamonds extracted from the Earth’s crust, favoring instead the ethical and renewable alternative offered by lab grown diamonds.

The rise of lab grown diamond rings symbolizes not only a shift in consumer preference but also a deeper alignment with the values of ethics and personal expression. Engagement rings, long considered an expression of love and commitment, are now being chosen with an eye toward not just their beauty but also the impact they have on the planet and the people involved in their creation.