Editor’s Note
This article outlines a significant organizational shift for the Japan Lab-Grown Diamond Association as it celebrates its fifth anniversary. The introduction of a new dual-representative leadership structure signals a new phase for the industry body.
The Japan Lab-Grown Diamond Association (Head Office: Osaka City, Osaka Prefecture; Representative Director Chairman: Shigeyuki Ishida) is embarking on new challenges as it marks its fifth anniversary. The organization has revamped its structure, welcoming Mr. Yumin Lin, Representative Director of Shoko Boeki Co., Ltd. (Head Office: Osaka City, Osaka Prefecture; Representative Director: Yumin Lin), resulting in a dual-representative director system and establishing dual bases in Osaka and Tokyo.
The global lab-grown diamond market has achieved significant growth. In recent years, its global share and growth have been remarkable, becoming an established consumer choice in many countries, driven by a shift towards environmental and ethical values. Specifically, the market has shown annual growth of around 10%. Demand in the United States is particularly strong, with lab-grown diamonds accounting for over 50% of total diamond consumption in the US in 2022. Given that approximately half of the world’s total diamond consumption originates from the US, it is clear from market principles that lab-grown diamonds are becoming mainstream globally.
The global lab-grown diamond market is projected to grow from USD 20.9 billion in 2021 to USD 52.5 billion by 2030, with a compound annual growth rate (CAGR) of 10.78% during the forecast period from 2023 to 2031.
Over the past five years, the association has conducted various awareness-raising activities and events aimed at promoting recognition and adoption of lab-grown diamonds in Japan. Staying true to its初心 (initial intent) and progressing step by step, it has felt a slight expansion in market share. On this fifth anniversary, the association shares its renewed commitment: to further spread the appeal and value of lab-grown diamonds by respecting Japanese culture and values while incorporating global trends. It aims to strengthen efforts to have more people know and love lab-grown diamonds as a sustainable and beautiful choice.
Lab-grown diamonds are real diamonds with identical physical properties to natural diamonds. Technology has made it possible to grow them in facilities that replicate the growth environment of natural diamonds. Because humans control the crystal growth environment, lab-grown diamonds can be grown as pure crystals without impurities. This type is called Type IIa, a rare and beautiful diamond found in less than 2% of natural diamonds. Therefore, it is expected that lab-grown diamonds will naturally come to occupy a significant portion of Japan’s diamond market.
Lab-grown diamonds are a new product category. As an ethical and sustainable choice, their production is expanding in countries like the US, Russia, China, and India, and they will be imported into Japan in various forms. Domestic production in Japan is also foreseen. Unfortunately, some operators engage in inaccurate labeling, which risks damaging consumer and industry trust.
Five years have passed since establishment. During this period, the global lab-grown diamond market has grown significantly, but many challenges remain, and the association keenly feels its efforts have been insufficient.
He also announced plans to release association-certified products to support consumers in purchasing lab-grown products with confidence and welcomed companies not directly involved in diamonds to join if they support the mission. The association is also considering global market entry and accepting proposals for joint research and development.
Mr. Lin stated that nearly nine years have passed since the birth of the entirely new LGD (Lab-Grown Diamond) product. During this time, rapid adoption began worldwide, led by the US, leading to the creation of a completely new market.
The association will frequently hold online and offline study sessions to actively share the latest industry information and details on ethical and sustainable initiatives with the public. It particularly aims to support the realization and spread of carbon-neutral diamond distribution.
To form a healthy market, the planned association-certified release products will ensure lab-grown products are accurately labeled as such, avoiding misunderstanding as natural products, and working to resolve industry issues.
Currently, Japan lags behind the world’s major markets in lab-grown diamond technology. While some individual research is underway in Japan, it has not yet reached a level that is internationally viable.
The association announces the publication of a new book, ‘The Brilliance of a New Generation: Lab-Grown Diamonds,’ written by Representative Director Shigeyuki Ishida. The book explains the current state and future potential of the lab-grown diamond industry from Ishida’s unique perspective. It became available on Kindle from August 17.
The association will host its first special online study session on September 13 at 8 PM, featuring Ishida. The session will cover basic knowledge, appeal, and future potential of lab-grown diamonds, followed by a Q&A, streamed on YouTube.
