Ten years after getting married, Dr Xiong Lan and her partner decided it was time to upgrade their diamond wedding ring. They initially turned to household name—De Beers, the iconic British diamond brand. But what they discovered was startling: a three-carat natural diamond was priced at nearly £80,000, equivalent to a property down payment in China.

"I started to question the meaning behind it," Dr Xiong recalls. "Why should people pay such a large amount of money for just a stone?"

That's when a friend introduced her to lab-grown diamonds.

Lab-grown diamonds are created in laboratories that mimic the high-pressure and high-temperature conditions under which diamonds form in the Earth's mantle. They have the same hardness, brilliance and chemical composition as mined diamond, and look identical to natural diamonds to the naked eye. But they can cost as little as one-tenth of the price of natural diamonds

In the end, Dr Xiong ultimately chose a 5-carat lab-grown diamond, paying less than 40,000 RMB (approximately £4,300)—a fraction of what she would have spent on a natural diamond of the same size.

Dr Xiong's choice highlights the rapid development of the lab-grown diamond market globally in recent years, with China leading in production.

According to German online platform Statista, the market value of lab-grown diamonds amounted to more than 27.2 billion US dollars in 2023 and is expected to witness a significant increase in market value by 2032, to nearly 59.5 billion US dollars.

The Cultivated Diamond Industry Development White Paper (2024) published by China Machine Tool & Tool Builders' Association reports that China dominates in the production of rough cultivated diamonds, with over 22 million carats produced in 2023, accounting for more than 70 percent of global output. India still dominates the diamond processing industry, controlling 80 percent of the market, while the US remains the largest consumer market for cultivated diamonds.

China-produced lab-grown diamonds take the global stage

Dr Xiong is no longer just a consumer. Inspired by her experience and China's untapped potential, she launched her own lab-grown diamond brand, PureVivid, last year.

On April 12, she showcased her brand at the National Wedding Show in London -- the UK's largest consumer wedding event. It is the only Chinese brand among over 2,000 exhibitors.

"I was surprised by how popular lab-grown diamonds already are in the UK—much more than I expected," said Dr Xiong. "With the advantage of price and being more ethical and eco-friendly in terms of production, it's becoming a growing trend, and I think there is a huge demand for Chinese lab-grown diamonds in the global market."

Despite China's dominance in lab-grown diamond production, she acknowledges a significant branding gap. She stresses the need for efforts to build a complete industry chain and expand globally.

"People still have a stereotype with the phrase "Made in China", which is often associated with low-cost manufacturing, rather than innovation, design or luxury," she noted. "This is a misunderstanding. China produces the finest lab-grown diamonds with the best quality in the world."

"When tested by leading certification institutes like the International Gemological Institute (IGI), Chinese lab-grown diamonds meet the highest standards in the 4Cs: carat, color, clarity and cut," she added.

"I hope that in the future, when people think of top-quality lab-grown diamonds, they'll think of China," Dr Xiong adds.