Lab-grown diamonds are growing in popularity. According to a 2022 BriteCoTM report, lab-grown diamond market penetration rose 9.7%, from 18.7% of engagement rings in 2020 to 28.4% in 2021. 

Lab-grown diamonds have been around since the 1950s; however, many people have continued to purchase natural diamonds because they believe synthetically grown gems don’t hold their value.