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Global Lab-Grown Diamond Market Set to Reach $100 Billion by 2032: DMCC

Global LGD market poised for $60–100B growth by 2032, with Dubai leading as a key facilitator

Published

5 months ago

October 1, 2025

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The global lab-grown diamond (LGD) market is projected to expand to $60–100 billion by 2032, according to the Dubai Multi Commodities Centre (DMCC). This growth trajectory is being shaped by three powerful forces: rising jewellery and lifestyle adoption, sustained industrial demand, and accelerated technological integration. Dubai, already among the world’s top diamond trading hubs, is emerging as a critical enabler and facilitator of this growth by providing infrastructure, market access, and thought leadership in the sector.

Market Outlook: Lab-Grown Diamonds Entering a Growth Supercycle

At the second edition of the DMCC Lab-Grown Diamond Symposium, held under the theme “From Mass to Meaning: Creativity, Technology and Transformation in Lab-Grown Diamonds”, more than 150 global leaders, innovators, and policymakers convened to evaluate the LGD industry’s future pathways.

The consensus: LGDs are no longer confined to jewellery. Their applications now extend across high-tech industries, fashion, lifestyle, and advanced engineering, placing them at the centre of multiple innovation streams.

DMCC forecasts underscore the scale of this expansion, with estimates suggesting the LGD industry could surpass the $100 billion threshold by 2032, effectively transforming it into one of the most dynamic markets globally.

Drivers of Growth

Jewellery and Lifestyle Expansion

Lab-grown diamonds are increasingly embraced by millennials and Gen Z consumers, who value affordability, sustainability, and customisation.
Designers are leveraging LGDs’ versatility, incorporating them into fashion-forward accessories including sunglasses, footwear, and wearable technologies.
Interior and lifestyle sectors are exploring LGD applications in home décor and consumer products, broadening demand far beyond traditional jewellery.
Industrial Applications
LGDs are now critical in aerospace, construction, and precision tools, owing to their superior hardness, durability, and cost-effectiveness compared to natural diamonds.
Demand is expected to rise from manufacturing and industrial engineering sectors seeking reliable high-performance materials.
High-Technology Adoption
LGDs possess unique physical and chemical properties—notably thermal conductivity, optical clarity, and electronic resilience—that make them suitable for next-generation semiconductors, quantum systems, and photonics.
Their use in quantum computing and advanced electronics positions LGDs as an enabling material for the future digital economy.

Dubai’s strategic geography, advanced logistics, and position as a global luxury hub place it at the heart of LGD trade and innovation. DMCC is spearheading initiatives to integrate LGDs across industries by:

Convening global stakeholders through flagship platforms like the Lab-Grown Diamond Symposium.
Facilitating cross-sector collaboration between technology firms, jewellers, designers, and industrial manufacturers.
Providing trade infrastructure and regulatory support to strengthen Dubai’s positioning as the global centre for lab-grown diamond dialogue and commerce.

Ahmed Bin Sulayem, Executive Chairman and CEO of DMCC, emphasised:“Lab-grown diamonds are powering global innovation – from quantum computing and semiconductors to jewellery design, aerospace and construction. With the market set to reach $60–100 billion by the early 2030s, this is among the most dynamic sectors worldwide.” He further highlighted Dubai’s unique role in connecting luxury, industrial, and technological applications, with DMCC acting as the platform for convergence.

Implications for Industry Stakeholders

Jewellery brands: The rise of LGDs offers new possibilities for product innovation, mass-market accessibility, and sustainable branding.
Technology firms: Opportunities are expanding in quantum, semiconductor, and photonics markets, where LGDs may become indispensable materials.
Investors: The projected market scale indicates a strong growth and diversification opportunity, particularly in regions where LGD adoption is nascent.
Trade hubs: Cities like Dubai are set to gain prominence by providing ecosystems that facilitate LGD innovation and commerce.

The lab-grown diamond industry is transitioning from niche to mainstream, underpinned by a multi-sector growth narrative. By 2032, the market could cross the $100 billion mark, reshaping global supply chains and consumer markets alike.

As the host of critical dialogue and innovation platforms, Dubai—through DMCC—has positioned itself at the forefront of this transformation, ensuring that the city is not only a trading powerhouse but also a driver of technological and creative disruption in the LGD sector.

Related Topics:2025 diamondbuzz DMCC internationalnews jb insights jewelbuzz Jewelbuzz Magazine special Report

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DiamondBuzz

Raw Mango makes its debut at London Fashion Week Presented by De Beers Group featuring Forevermark Diamond Jewellery

Published

3 days ago

February 25, 2026

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The Fall Winter 2026 collection It’s Not About The Flower reinterprets the cultural symbolism of the garland on a global stage, presented by De Beers Group with Forevermark Diamond Jewellery celebrating heritage, provenance and contemporary craftsmanship.

At its inaugural show on an international stage, Raw Mango debuted their Fall Winter 2026 collection It’s Not About The Flower at London Fashion Week. Drawing inspiration from the ubiquitous garland—which is a humble, albeit important part of everyday life in South Asia—the collection blurs the line between decoration and that which is decorated. The focus with this collection shifts from the individual motif to the arrangement, from surface-level engagements to a deeper interrogation of value and beauty, from the flower to the garland.

Talking about the inspiration and emotional core behind the collection, designer and founder of Raw Mango Sanjay Garg says, “Flowers remain an important part of South-East Asia and South Asia. But we don’t really have a culture of giving one individual flower to someone, like, say, a rose on Valentine’s Day.” He continues, “As a culture, we are a country of garlands. Whether it’s a death, a birth, a wedding or a religious ritual, you see garlands, irrespective of the religion. It’s not about one individual flower; it’s about the plurality.”

With the show in London, the brand presents an indigenous idea of fashion that challenges convention and seeks to break away from stereotypes. “There is still a strong association between Indian fashion and a certain kind of aesthetic — heavy gold embroidery, and maximalist ensembles that overwhelm the eye and the body with ‘bling’,” says Sanjay.“Indian fashion is too often quantified – it’s not seen for its innate aesthetic value, but the number of hours it took a weaver to create a garment. It’s a surface-level engagement that sometimes drowns out the beauty of the weave itself.”

The garments and silhouettes offered interpretations of how a garland sits on the body. The flowers themselves were constructed in various non-traditional and silk-like fabrics, assembled or rolled by hand—each placed in delicate arrangements on lightly embroidered brocades, rib-knit cottons, quilted rayon and wool felt. Presented to an audience comprising influential voices across the worlds of fashion, business, entertainment and culture including artist Anoushka Shankar, former first lady of the UK Akshita Murthy, Film Director Gurinder Chadha, Actor Saim Ali, artist Cyrill Ibrahim, artist Lubna Chowdhary, Rahi Chadda, Founder of Openended Design – Suhair Khan, Art Collector and Philanthropist Aarti Lohia, Curator Tarini Malik, Creative Director Nikhil Mansata and Creative & Cultural Strategist Arooj Aftab, It’s Not About The Flower asked to be appreciated on its own terms.

Speaking to the significance of Raw Mango showing at London Fashion Week, Sanjay Garg responds, “Presenting here is as good as presenting in Kanpur for me. At the end of the day, it is the work being presented that matters. And that doesn’t change according to who is viewing it, or where. I’m less interested in defining my audience and more interested in further exploring and articulating my design language that can cater to different audiences that transcends borders and seasons.”

This laser-sharp focus on the work, rather than the accoutrements and requirements of fashion calendars, is what has defined Raw Mango’s approach to textile and culture over the past eighteen years. The brand builds on century-old skills to shape a new aesthetic vocabulary that is both contemporary and deeply rooted in local histories.

For its London Fashion Week presentation of It’s Not About The Flower, Raw Mango was presented by De Beers Group, with Forevermark Diamond Jewellery as the jewellery partner. United by a shared respect for provenance and craftsmanship, the collaboration underscores adornment as an expression of individuality, culture, and personal style.

Commenting on the partnership, Shweta Harit, Global Senior Vice President at De Beers Group and CEO of Forevermark, said: “As the jewellery partner, Forevermark Diamond Jewellery came together with Raw Mango through a shared commitment to authenticity, craftsmanship, and personal expression. Natural diamonds – rare creations of the earth, each inherently unique – reflected the same sense of individuality expressed through Raw Mango’s design language.

Presented by De Beers Group, the collaboration came together as a meeting of heritage, provenance, and contemporary creativity, where adornment felt like a true extension of identity.”

In a season dominated by conversations around conscious luxury and material honesty, the alignment was clear. Heritage is not a trend. Craft is not a spectacle. And like the enduring belief that a diamond is forever, true value lies in what time cannot erode.