China's lab-grown diamond industry is booming, with rough diamond imports and exports surging 82.11% year-on-year to $122.96 million in 2024, according to the Gems & Jewelry Trade Association of China. Finished diamond trade hit $194.6 million, up 78.09%. As global demand grows, overseas jewelry buyers should watch China's expanding production capacity and shifting consumer trends that are reshaping the supply chain for affordable, high-quality diamond jewelry.
Global market outlook
The global lab-grown diamond market is projected to grow from $25.89 billion in 2024 to $74.45 billion by 2032, per Fortune Business Insights. China produced approximately 22 million carats of lab-grown diamonds in 2024, a 144.44% year-on-year increase, accounting for 63% of global output. This positions China as a dominant upstream supplier for international buyers seeking cost-effective diamond alternatives.
Production technology and quality
Lab-grown diamonds are produced via high-pressure high-temperature (HPHT) or microwave plasma CVD growth (CVD), matching natural diamonds in composition and appearance while costing less. A one-carat lab-grown diamond can be produced in about a week. China has mastered mass production of consistent-quality stones through technological advances, making them a reliable sourcing option for jewelry manufacturers.
Consumer trends driving demand
Lab-grown diamonds are gaining popularity among young consumers on Chinese platforms like Xiaohongshu, Weibo, and WeChat. Some Taobao specialty stores report sales exceeding 1 million yuan ($140,500). Weibo's lab-grown diamond hashtag has generated nearly 19.57 million views and 42,000 discussions. Guo Tianying, market development manager at the Zhengzhou lab-grown diamond international trading center, noted that younger consumers view lab-grown diamond jewelry as a fashion choice rather than an investment.
Supply-chain challenges and opportunities
Despite strong upstream production, China faces weaker midstream cutting and polishing capabilities. Li Jianhua, CTO of Henan Huanghe Whirlwind Co., called for stronger collaboration between upstream and downstream companies, improved resource integration, and upgraded cutting technologies. Wang Qinsheng, chief expert of the China Torch Program, recommended expanding the diamond processing workforce and improving automation to build a complete industrial chain from rough to finished diamonds.
What buyers should watch
The Zhengzhou Airport Economy Zone is building a lab-grown diamond international trading center to streamline import-export customs processing and serve both domestic and international markets. Policy support, brand building, and global outreach are critical for sector growth. Liu Yongqi, president of the lab-grown diamond branch of the Gems & Jewelry Trade Association of China, expressed confidence in rapid expansion under dual drivers of policy support and market demand. Overseas buyers should monitor China's progress in midstream capabilities and trading infrastructure for sourcing opportunities.
Source: Read the original report | Published: September 30, 2025