South Korea Luxury Lab Grown Diamond Jewelry Market Assessment, By Manufacturing Method [HPHT, CVD], By Nature [Color, Colorless], By Size [Below 2 Carat, 2 Carat – 4 Carat, Above 4 Carat], By Application [Industrial, Fashion], By Region, Opportunities and Forecast, 2018-2032F

South Korea luxury lab grown diamond jewelry market is projected to witness a CAGR of 5.12% during the forecast period 2025-2032, growing from USD 203.20 million in 2024 to USD 302.97 million in 2032, owing to sustainability, ethical sourcing, and technological innovation. The lab-grown diamond jewelry market in South Korea is seeing remarkable growth, fueled by factors such as sustainability concerns, cost-effectiveness, technological progress, and changing consumer preferences.

Report Attributes	Details
Base Year	2024
Forecast Period	2025-2032F
Historical Period	2018-2023
Projected Growth Rate	CAGR of 5.12% between 2025 and 2032
Revenue Forecast in 2032	USD 302.97 million

Primary market drivers are rising awareness towards environmental and ethical problems related to mining diamonds in the conventional way. Lab-grown diamonds are environment-friendly and without the worries of child labor and conflict diamonds. These diamonds attract environmentally and socially conscious consumers, especially young people such as millennials and gen z. Lab-grown diamonds are also generally 20% to 40% less expensive than natural diamonds, making luxury jewelry attainable to even more people and giving better value for money. Cheaper price and capability to buy bigger or better diamonds also appeal to the middle-income consumers and, more importantly, to younger people who value enjoyment rather than mere possession as a form of luxury. For instance, in May 2024, De Beers Group’s fully owned lab-grown diamond jewelry brand, Lightbox Jewelry Inc, announced a permanent price drop to as low as USD 500 per carat, down from the previous price of USD 800 per carat, for its standard range of lab-grown diamonds.

Another major market driver is technological development. Innovation such as chemical vapor deposition (CVD) and high pressure high temperature (HPHT) has facilitated ease in the production of high-quality lab-grown diamonds that are similar and undistinguishable to natural stones. Technology has also made it possible for better customization, making it easier for brands to design unique and bespoke decorative pieces based on individualized tastes.

Increasing Awareness Driving the South Korea Luxury Lab Grown Diamond Jewelry Market

Increasing awareness is a major determinant of the luxury lab-grown diamond jewelry market in South Korea. Increased consumer awareness about environmental, ethical, and economic advantages of lab-grown diamonds is changing attitudes about consumer behavior. These changes are seen particularly among young generations like millennials and gen Z, for whom sustainability and consumption ethics are generally more important. Lab-grown diamonds are promoted as greener in comparison to mined diamonds. They do not suffer environmental damage or carbon emission issues, as included in traditional diamond mining. In addition, they solve ethical problems associated with conflict diamonds and exploitative labor practices so that they appeal to socially aware consumers looking for transparent and responsible purchases. Again, the proliferation of digital platforms and social media has contributed enormously to increasing awareness of the lab-grown diamond. Online campaigns, endorsements from influencers, and educational articles demystify these gems by stressing their quality, affordability, and green values. That affordability makes another important point towards awareness and adoption. Consumers increasingly come to realize that bigger or better-quality stones may be bought at a small fraction of what they would pay for a comparable natural diamond, adding further allure to lab-grown options.

For instance, in September 2023, Lloyd, the budget-friendly jewelry brand from E-Land Corporation, began offering one-carat lab-grown diamond rings priced at around USD 700. The brand quickly sold 1,000 rings within just three weeks of launching sales, thanks to their price being only one-fifth of the average cost of a natural diamond ring in South Korea.

Technological Advancements Driving the South Korea Luxury Lab Grown Diamond Jewelry Market

Technological advancements have become a major propelling factor in the growth of the South Korean luxury lab-grown diamond jewelry market. Innovation in techniques for growing diamonds, such as chemical vapor deposition (CVD) or high pressure high temperature (HPHT), has shifted the paradigm altogether in lab-grown diamond production, rendering lab diamonds almost as good as natural diamonds when it comes to quality, clarity, and brilliance. Furthermore, these advancements have empowered manufacturers to make bigger, better-quality diamonds, much more uniformly, to meet the demands of the luxury customer, asking for premium quality.

One of the enormous potential advantages brought about by such innovations is the ability to enable the production of bespoke and individualized pieces of jewelry; designers would have full liberty to work as lab-created diamonds can be synthesized to a myriad of forms, sizes, and hues. Such customization is a welcome plus for South Korean consumers, who are tending more towards customized and innovative luxury goods. Additional benefits were lower production costs that provided more affordable lab-created diamonds and the convenience of being seen as still glamorous.

For instance, in May 2024, South Korean Researchers have developed a revolutionary method to grow diamonds within 15 minutes under regular pressure. The breakthrough is the result of research collaboration between the Institute for Basic Science (IBS) and Ulsan National Institute of Science and Technology (UNIST). Their process uses a liquid metal alloy composed of gallium, iron, nickel, and silicon to grow diamonds.

Chemical Vapor Deposition (CVD) is Anticipated to Propel the Growth of the Market

Chemical vapor deposition (CVD) is anticipated to play a significant role in propelling the growth of the South Korea luxury lab-grown diamond jewelry market. CVD technology for lab-grown diamonds is one of the most advanced, possessing a few advantages that cater to the preferences of luxury consumers and general market trends. Using CVD, one can cultivate high-quality diamonds with superior clarity and minimal impurities, producing stones virtually identical to natural ones. This makes CVD-produced diamonds ever so desirable in luxury jewelry for two reasons, they can produce Type IIa diamonds, which are the purest form of diamonds, and the other reason is that CVD is just more efficient and scalable than other methods like high pressure high temperature (HPHT), making for less costly production, allowing brands to sell luxury lab-grown diamond jewelry at a friendlier price. The current cost savings are being passed on to consumers, thereby creating a wider access point to luxury diamond jewelry. CVD is an evolving technology, and its development will lead to further enhancement in the speed, scalability, and quality of diamond production, therefore positioning lab-grown diamonds in the initiatives of competing when it comes to natural diamonds, whether in terms of quality or availability.

For instance, In August 2023, KDT Diamond Co. Ltd. acquired a patent for chemical vapor deposition (CVD) device, which is designed for synthesizing lab-grown diamonds. It will enable the production of high-quality diamond in a shorter timeframe using a more advanced process compared to traditional high temperatures.

Download Free Sample Report 

Future Market Scenario (2025 – 2032F)

• As consumer awareness about the environmental and ethical benefits of lab-grown diamonds increases, the market will continue to expand, particularly among younger demographics like millennials and gen z.
• Innovations in diamond-growing technologies, particularly chemical vapor deposition (CVD) and high pressure high temperature (HPHT), will continue to improve the quality, size, and variety of lab-grown diamonds.
• The growth of online retail platforms will make lab-grown diamond jewelry more accessible to consumers across South Korea. E-commerce will provide a convenient and transparent shopping experience, with detailed product information and virtual try-on features.

Report Scope

“South Korea Luxury Lab Grown Diamond Jewelry Market Assessment, Opportunities and Forecast, 2018-2032F”, is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of South Korea luxury lab grown diamond jewelry market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecasts between 2025 and 2032. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business models, competitive intelligence, etc.

Report Attribute	Details
Segments Covered	Manufacturing Method, Nature, Size, Application
Regions Covered	North Chungcheong, South Chungcheong, Gangwon, Gyeonggi, Rest of South Korea
Key Companies Profiled	Lightbox Jewelry Inc., KDT Diamond Co. Ltd., Eland Group, Pandora Jewelry, LLC, Brilliant Earth, LLC, Le petit-fils de L.U. Chopard & Cie SA, LaBrilliante LLC, J.Estina Co., Ltd.
Customization Scope	15% free report customization with purchase
Pricing and Purchase Options	Avail the customized purchase options to fulfill your precise research needs
Delivery Format	PDF and Excel through email (subject to the license purchased)

In the report, South Korea luxury lab grown diamond jewelry market has been segmented into the following categories: 

• By Manufacturing Method
  • HPHT (High Pressure High Temperature)
  • CVD (Chemical Vapor Deposition)
• By Nature
  • Color
  • Colorless
• By Size
  • Below 2 Carat
  • 2 Carat – 4 Carat
  • Above 4 Carat
• By Application
  • Industrial
  • Fashion
• By Region
  • North Chungcheong
  • South Chungcheong
  • Gangwon
  • Gyeonggi
  • Rest of South Korea

Key Players Landscape and Outlook

The South Korean luxury lab grown diamond jewelry market is rapidly expanding, driven by ethical consumerism and affordability. Key players include domestic manufacturers like KDT Diamond (with their ALOD brand) and international suppliers as well. Traditional luxury jewelers are also increasingly incorporating lab-grown diamonds, reflecting a growing acceptance and demand for these sustainable alternatives. South Korea luxury lab-grown diamond jewelry market in terms of future looks promising and will continue to grow due to rising consumer consciousness and awareness, advancing technologies, and a change toward sustainability. New innovations in diamond-growing technologies, such as chemical vapor deposition (CVD) and high pressure high temperature (HPHT), enhance the quality, size, and variety of lab-grown diamonds, driving competition from natural ones. Besides, growing emphasis on customization and personalization contributes to further demand generation as customers seek an increasing number of bespoke jewelry pieces to reflect individuality. Above all, the expansion of e-commerce and digital marketing access will make ownership of amazing lab-grown diamond jewelry easier, with celebrity endorsements and tie-ups augmenting the niche appeal in the luxury segment. However, challenges such as the long-held belief by consumers about lab-grown diamonds being inferior to natural diamonds, increased competition in the market, and requisite standardized regulations and certifications must be faced and cleared for sustained growth. Effective communication on benefits derived from lab-grown diamonds will therefore give an added advantage to brands that can offer innovative designs to their customers and present their case through digital media.

For instance, in August 2024, J.Estina Co., Ltd., Popular jewelry brand headquartered in South Korea, introduced its first lab-grown diamond products, as part of its new premium collection, MORVE. The collection's name is a portmanteau of Morbido.

Key Players Operating in the South Korea Luxury Lab Grown Diamond Jewelry Market are:

• Lightbox Jewelry Inc.
• KDT Diamond Co. Ltd.
• Eland Group
• Pandora Jewelry, LLC
• Brilliant Earth, LLC
• Le petit-fils de L.U. Chopard & Cie SA
• LaBrilliante LLC
• Estina Co., Ltd.

If you can't find what you're searching for or have any custom requirements for the South Korea luxury lab grown diamond jewelry market, you may approach our team at info@marketsandata.com