India Luxury Lab Grown Diamond Jewelry Market By Manufacturing Method (HPHT (High Pressure High Temperature), CVD (Chemical Vapor Deposition)), By Nature (Color, Colorless), By Application (Industrial, Fashion), By Region, Competition, Forecast & Opportunities, 2020-2030F
Market Overview
The India Luxury Lab Grown Diamond Jewelry Market was valued at USD 342.85 million in 2024 and is projected to reach USD 706.25 million by 2030, growing at a CAGR of 12.8% during the forecast period. The market is experiencing strong growth, driven by rising consumer preference for sustainable, ethical, and cost-effective alternatives to traditionally mined diamonds.
Key Market Drivers
Increasing Consumer Preference for Ethical and Sustainable Jewelry
A major driver propelling the luxury lab-grown diamond jewelry market in India is the increasing consumer inclination towards ethical and sustainable products. Traditional diamond mining is often linked with environmental damage, human rights abuses, and unethical labor practices, while lab-grown diamonds, produced through technologies like High Pressure High Temperature (HPHT) and Chemical Vapor Deposition (CVD), offer a significantly reduced ecological footprint. According to the 2023 MVI Marketing Survey, 70% of Indian consumers under 40 prefer lab-grown diamonds for ethical and environmental reasons. Reports from the Diamond Producers Association (DPA) highlight that lab-grown diamonds emit 90% less carbon than mined diamonds. Millennials and Gen Z, who prioritize sustainability and transparency, are increasingly adopting lab-grown diamonds as a guilt-free luxury. Certifications from bodies like the International Grown Diamond Association (IGDA) enhance consumer trust, further driving market expansion.
Key Market Challenges
Consumer Perception and Acceptance
A key challenge for the lab-grown diamond jewelry market in India is overcoming deep-seated consumer perceptions favoring natural diamonds. Despite their identical chemical and physical properties to mined diamonds, lab-grown diamonds face skepticism about their value, durability, and prestige. Indian consumers, especially in the luxury segment, often associate natural diamonds with tradition, status, and investment security. Changing these perceptions requires substantial education and targeted marketing efforts. Furthermore, the confusion between high-quality lab-grown diamonds and lower-grade synthetic alternatives complicates consumer trust. Building credibility through certifications and awareness campaigns is crucial to reshaping consumer attitudes and driving broader adoption.
Key Market Trends
Rising Popularity of Customization and Bespoke Jewelry Designs
An emerging trend in India’s luxury lab-grown diamond jewelry market is the growing demand for customized and bespoke designs. Consumers, particularly millennials and Gen Z, are seeking unique jewelry pieces that reflect their personal style and individuality. Lab-grown diamonds, available in diverse shapes, sizes, and colors, offer unparalleled flexibility for customization. Technologies such as 3D printing and computer-aided design (CAD) enable intricate and tailored creations, allowing consumers to co-design their jewelry pieces. Brands are capitalizing on this trend by offering made-to-order services, personalization options like engravings, and exclusive collections, enhancing customer engagement and loyalty.
Key Market Players
In this report, the India luxury lab grown diamond jewelry market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Company Profiles: Detailed analysis of the major companies present in the India luxury lab grown diamond jewelry market.
Available Customizations:
India luxury lab grown diamond jewelry market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
The India Luxury Lab Grown Diamond Jewelry Market was valued at USD 342.85 million in 2024 and is projected to reach USD 706.25 million by 2030, growing at a CAGR of 12.8% during the forecast period. The market is experiencing strong growth, driven by rising consumer preference for sustainable, ethical, and cost-effective alternatives to traditionally mined diamonds.
Key Market Drivers
Increasing Consumer Preference for Ethical and Sustainable Jewelry
A major driver propelling the luxury lab-grown diamond jewelry market in India is the increasing consumer inclination towards ethical and sustainable products. Traditional diamond mining is often linked with environmental damage, human rights abuses, and unethical labor practices, while lab-grown diamonds, produced through technologies like High Pressure High Temperature (HPHT) and Chemical Vapor Deposition (CVD), offer a significantly reduced ecological footprint. According to the 2023 MVI Marketing Survey, 70% of Indian consumers under 40 prefer lab-grown diamonds for ethical and environmental reasons. Reports from the Diamond Producers Association (DPA) highlight that lab-grown diamonds emit 90% less carbon than mined diamonds. Millennials and Gen Z, who prioritize sustainability and transparency, are increasingly adopting lab-grown diamonds as a guilt-free luxury. Certifications from bodies like the International Grown Diamond Association (IGDA) enhance consumer trust, further driving market expansion.
Key Market Challenges
Consumer Perception and Acceptance
A key challenge for the lab-grown diamond jewelry market in India is overcoming deep-seated consumer perceptions favoring natural diamonds. Despite their identical chemical and physical properties to mined diamonds, lab-grown diamonds face skepticism about their value, durability, and prestige. Indian consumers, especially in the luxury segment, often associate natural diamonds with tradition, status, and investment security. Changing these perceptions requires substantial education and targeted marketing efforts. Furthermore, the confusion between high-quality lab-grown diamonds and lower-grade synthetic alternatives complicates consumer trust. Building credibility through certifications and awareness campaigns is crucial to reshaping consumer attitudes and driving broader adoption.
Key Market Trends
Rising Popularity of Customization and Bespoke Jewelry Designs
An emerging trend in India’s luxury lab-grown diamond jewelry market is the growing demand for customized and bespoke designs. Consumers, particularly millennials and Gen Z, are seeking unique jewelry pieces that reflect their personal style and individuality. Lab-grown diamonds, available in diverse shapes, sizes, and colors, offer unparalleled flexibility for customization. Technologies such as 3D printing and computer-aided design (CAD) enable intricate and tailored creations, allowing consumers to co-design their jewelry pieces. Brands are capitalizing on this trend by offering made-to-order services, personalization options like engravings, and exclusive collections, enhancing customer engagement and loyalty.
Key Market Players
- Tanishq (India) Limited
- Novel Jewels Limited
- De Beers plc
- CaratLane Trading Private Limited
- Krishna Jewellers Pearls & Gems
- Jewelbox
- SYNDIORA
- KIRA DIAM LLP
- FionaSolitaires Private Limited
- Anantaa Diamonds
In this report, the India luxury lab grown diamond jewelry market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
- India Luxury Lab Grown Diamond Jewelry Market, By Manufacturing Method:
- HPHT (High Pressure High Temperature)
- CVD (Chemical Vapor Deposition)
- India Luxury Lab Grown Diamond Jewelry Market, By Nature:
- Color
- Colorless
- India Luxury Lab Grown Diamond Jewelry Market, By Application:
- Industrial
- Fashion
- India Luxury Lab Grown Diamond Jewelry Market, By Region:
- North
- South
- East
- West
Company Profiles: Detailed analysis of the major companies present in the India luxury lab grown diamond jewelry market.
Available Customizations:
India luxury lab grown diamond jewelry market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
1. INTRODUCTION
1.1. Market Overview
1.2. Key Highlights of the Report
1.3. Market Coverage
1.4. Market Segments Covered
1.5. Research Tenure Considered
2. RESEARCH METHODOLOGY
2.1. Methodology Landscape
2.2. Objective of the Study
2.3. Baseline Methodology
2.4. Formulation of the Scope
2.5. Assumptions and Limitations
2.6. Sources of Research
2.7. Approach for the Market Study
2.8. Methodology Followed for Calculation of Market Size & Market Shares
2.9. Forecasting Methodology
3. EXECUTIVE SUMMARY
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions
3.5. Overview of Market Drivers, Challenges, and Trends
4. VOICE OF CUSTOMER
4.1. Brand Awareness
4.2. Factor Influencing Availing Decision
5. INDIA LUXURY LAB GROWN DIAMOND JEWELRY MARKET OUTLOOK
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Manufacturing Method Market Share Analysis (HPHT (High Pressure High Temperature), CVD (Chemical Vapor Deposition))
5.2.2. By Nature Market Share Analysis (Color, Colorless)
5.2.3. By Application Market Share Analysis (Industrial, Fashion)
5.2.4. By Regional Market Share Analysis
5.2.4.1. South Market Share Analysis
5.2.4.2. North Market Share Analysis
5.2.4.3. East Market Share Analysis
5.2.4.4. West Market Share Analysis
5.2.5. By Top 5 Companies Market Share Analysis, Others (2024)
5.3. India Luxury Lab Grown Diamond Jewelry Market Mapping & Opportunity Assessment
5.3.1. By Manufacturing Method Market Mapping & Opportunity Assessment
5.3.2. By Nature Market Mapping & Opportunity Assessment
5.3.3. By Application Market Mapping & Opportunity Assessment
5.3.4. By Regional Market Mapping & Opportunity Assessment
6. INDIA HPHT (HIGH PRESSURE HIGH TEMPERATURE) LUXURY LAB GROWN DIAMOND JEWELRY MARKET OUTLOOK
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Nature Market Share Analysis
6.2.2. By Application Market Share Analysis
7. INDIA CVD (CHEMICAL VAPOR DEPOSITION) LUXURY LAB GROWN DIAMOND JEWELRY MARKET OUTLOOK
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Nature Market Share Analysis
7.2.2. By Application Market Share Analysis
8. MARKET DYNAMICS
8.1. Drivers
8.2. Challenges
9. MARKET TRENDS & DEVELOPMENTS
9.1. Merger & Acquisition (If Any)
9.2. Manufacturing Method Launches (If Any)
9.3. Recent Developments
10. PORTERS FIVE FORCES ANALYSIS
10.1. Competition in the Industry
10.2. Potential of New Entrants
10.3. Power of Suppliers
10.4. Power of Customers
10.5. Threat of Substitute Manufacturing Methods
11. INDIA ECONOMIC PROFILE
12. POLICY AND REGULATORY LANDSCAPE
13. COMPETITIVE LANDSCAPE
13.1. Company Profiles
13.1.1. Tanishq (India) Limited.
13.1.1.1. Business Overview
13.1.1.2. Company Snapshot
13.1.1.3. Manufacturing Methods & Services
13.1.1.4. Financials (As Per Availability)
13.1.1.5. Key Market Focus & Geographical Presence
13.1.1.6. Recent Developments
13.1.1.7. Key Management Personnel
13.1.2. Novel Jewels Limited
13.1.3. De Beers plc
13.1.4. CaratLane Trading Private Limited
13.1.5. Krishna Jewellers Pearls & Gems
13.1.6. Jewelbox
13.1.7. SYNDIORA
13.1.8. KIRA DIAM LLP
13.1.9. FionaSolitaires Private Limited
13.1.10. Anantaa Diamonds.
14. STRATEGIC RECOMMENDATIONS
14.1. Key Focus Areas
14.1.1. Target Manufacturing Method
14.1.2. Target Application
14.1.3. Target Region
15. ABOUT US & DISCLAIMER
1.1. Market Overview
1.2. Key Highlights of the Report
1.3. Market Coverage
1.4. Market Segments Covered
1.5. Research Tenure Considered
2. RESEARCH METHODOLOGY
2.1. Methodology Landscape
2.2. Objective of the Study
2.3. Baseline Methodology
2.4. Formulation of the Scope
2.5. Assumptions and Limitations
2.6. Sources of Research
2.7. Approach for the Market Study
2.8. Methodology Followed for Calculation of Market Size & Market Shares
2.9. Forecasting Methodology
3. EXECUTIVE SUMMARY
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions
3.5. Overview of Market Drivers, Challenges, and Trends
4. VOICE OF CUSTOMER
4.1. Brand Awareness
4.2. Factor Influencing Availing Decision
5. INDIA LUXURY LAB GROWN DIAMOND JEWELRY MARKET OUTLOOK
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Manufacturing Method Market Share Analysis (HPHT (High Pressure High Temperature), CVD (Chemical Vapor Deposition))
5.2.2. By Nature Market Share Analysis (Color, Colorless)
5.2.3. By Application Market Share Analysis (Industrial, Fashion)
5.2.4. By Regional Market Share Analysis
5.2.4.1. South Market Share Analysis
5.2.4.2. North Market Share Analysis
5.2.4.3. East Market Share Analysis
5.2.4.4. West Market Share Analysis
5.2.5. By Top 5 Companies Market Share Analysis, Others (2024)
5.3. India Luxury Lab Grown Diamond Jewelry Market Mapping & Opportunity Assessment
5.3.1. By Manufacturing Method Market Mapping & Opportunity Assessment
5.3.2. By Nature Market Mapping & Opportunity Assessment
5.3.3. By Application Market Mapping & Opportunity Assessment
5.3.4. By Regional Market Mapping & Opportunity Assessment
6. INDIA HPHT (HIGH PRESSURE HIGH TEMPERATURE) LUXURY LAB GROWN DIAMOND JEWELRY MARKET OUTLOOK
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Nature Market Share Analysis
6.2.2. By Application Market Share Analysis
7. INDIA CVD (CHEMICAL VAPOR DEPOSITION) LUXURY LAB GROWN DIAMOND JEWELRY MARKET OUTLOOK
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Nature Market Share Analysis
7.2.2. By Application Market Share Analysis
8. MARKET DYNAMICS
8.1. Drivers
8.2. Challenges
9. MARKET TRENDS & DEVELOPMENTS
9.1. Merger & Acquisition (If Any)
9.2. Manufacturing Method Launches (If Any)
9.3. Recent Developments
10. PORTERS FIVE FORCES ANALYSIS
10.1. Competition in the Industry
10.2. Potential of New Entrants
10.3. Power of Suppliers
10.4. Power of Customers
10.5. Threat of Substitute Manufacturing Methods
11. INDIA ECONOMIC PROFILE
12. POLICY AND REGULATORY LANDSCAPE
13. COMPETITIVE LANDSCAPE
13.1. Company Profiles
13.1.1. Tanishq (India) Limited.
13.1.1.1. Business Overview
13.1.1.2. Company Snapshot
13.1.1.3. Manufacturing Methods & Services
13.1.1.4. Financials (As Per Availability)
13.1.1.5. Key Market Focus & Geographical Presence
13.1.1.6. Recent Developments
13.1.1.7. Key Management Personnel
13.1.2. Novel Jewels Limited
13.1.3. De Beers plc
13.1.4. CaratLane Trading Private Limited
13.1.5. Krishna Jewellers Pearls & Gems
13.1.6. Jewelbox
13.1.7. SYNDIORA
13.1.8. KIRA DIAM LLP
13.1.9. FionaSolitaires Private Limited
13.1.10. Anantaa Diamonds.
14. STRATEGIC RECOMMENDATIONS
14.1. Key Focus Areas
14.1.1. Target Manufacturing Method
14.1.2. Target Application
14.1.3. Target Region
15. ABOUT US & DISCLAIMER
