Market Potential for LGDs by 2030

159m carats of rough LGDs required, driven primarily by three factors:

Source: Frost & Sullivan

1. Huge natural diamond demand-supply gap

  • Frost & Sullivan reports suggest that, due to limitation of resources, natural diamond supply will decline to 14m carats by 2050.  GTA 6 PC Game Download Free

  • Decline in supply mainly due to depletion of mines & no new major commercial discoveries in recent times.

  • Argyle mine – the largest diamond mine operating shut down in 2020.

2. Rising incremental demand for lab grown diamonds

  • Growing preference for eco-friendly jewellery among millennials, with them adding upto 60% and 80% of the total in the USA and China.

  • India is a huge target market for LGD with the highest millennial population in the world.

  • Yet, global LGD production has been forecasted to increase by only 17m carats by 2030.

Courtesy: Limelight Diamonds

3. Millennials shall pave the way forward

  • India’s millennial population stands at 41 Crore, which is larger than the entire population of USA.

  • 70% millennials would consider LGD.

  • We have 3 Lac jewellery retailers in India, along with 1.5 Lac jewellery manufacturers.

159 million carats

Total requirement of rough LGDs

Looking to grow your clout in the LGD industry?

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