Lab-grown diamonds will fill a growing gap to be created by a supply shortfall of natural diamonds in the long run, a senior lab-grown diamond executive said.
Natural diamond demand was forecast to grow in the long term, while supply would fall due to the expected closure of Australia’s Argyle diamond mine and a lack of new natural diamond exploitation, said Pooja Sheth, MD and founder of India’s Limelight Handcrafted Diamonds.
“A huge gap (between demand and supply) is expected to be filled with lab-grown CVD (chemical vapor deposition) diamonds,” she said in a Jewellery Outlook webinar, entitled “New Era for Lab-Grown Diamonds”.
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Sheth also said he saw an opportunity in marketing lab-grown diamond jewellery to women purchasing jewellery for themselves to celebrate success or achievement.