March 2021 | Lab Grown Magazine

March 2021 | The Lab Grown Diamond Resource Book 12 DISCLAIMER: Lab Grown Magazine assumes no responsibility for content, articles, or advertisement in publication. All rights reserved. Reproduction in whole or in part in any form without prior written permission of the publisher is prohibited. The publisher reserves the right to edit all articles for clarity space and editorial sensitivities. Publisher Zev Oster Manager David Oster Advertising & Sales LabGrownMagazine@gmail.com Graphics LabGrownAds@gmail.com Circulation 25,000 Magazines Printed & Mailed Monthly Distributed at Show Bins 30 West 47th Street | Suite 707 New York, NY 10036 T: 888-832-1109 F: 212-257-7056 www.LabGrownMagazine.com The Global Diamond Industry The much anticipated report on The Global Diamond Industry 2020-21 , prepared by Bain & Company and the Antwerp World Dia- mond Centre (AWDC) was recently released. This tenth annual report covers the indus- try's performance in 2019, including the effect of Covid in 2020. It also provides an update on consumer preferences and attitudes while looking at potential scenarios for the diamond industry in 2021 and beyond. In addition to its comprehensive analysis of the mined diamond industry, and its project- ed outlook for the years ahead, the report also looks at LGDs and their prospects. This important coverage is further evidence that lab-grown diamonds have moved into the mainstream and are considered to be a relevant part of the overall diamond industry. Below is a summary of key aspects relating to lab-grown diamonds discussed in the Bain report. - LGD production reached 6 to 7 million carats in 2020, with 60% being manufactured in China using HPHT technology. - CVD technology is gaining share. India and the U.S. are emerging as major production centers. - Retail prices fell in 2020, while wholesale prices were stable. This led to a major contrac- tion for traders and jewelry manufacturers. - Retail price discounts for LGDs vs. mined diamonds increased slightly in 2020. - The price differential between fancy color LGDs and mined diamonds is up to ten times. - Most of the retail LGD market is in the U.S., while China is way down in second place. - Consumers in key markets don't see ma- jor differences in sustainability between mined and lab-grown diamonds. - LGDs evoke mixed associations with con- sumers.Most think of LGDs as being artificial and affordable. - Prices of larger LGDs are moving away from being pegged to mined diamond prices to a cost-plus model. - LGDs are moving into the fashion seg- ment and some leading fashion brands are now offering them. Zev