Diamond remains to be the most popular choice of gemstone for both engagement rings and wedding rings. No matter its shape and size, this precious rock can turn a simple ring into an exquisite piece of jewelry that can be passed on as a family heirloom for generations to come.
From a symbol of ownership, wealth, and power for the early royal families and aristocrats who held large collections of these precious stones, diamonds have become more known today as a symbol of commitment and eternal love. It is no wonder couples, young and old, spend time and resources to have that unique diamond wedding ring pair that perfectly tells their tale of love.
Aside from the evolution of its symbolism, changes happening in the market scene should also take the interest of jewelry consumers. The diamond industry, that’s been tainted by ethical and environmental issues, is looking at a great opportunity to rebuild. While holding onto traditions, local and international jewelers are also moving to embrace current trends and new customer base.
The birth of ethical rocks has helped keep the industry vibrant, healthy and moving. Lab grown diamond, an eco-friendly alternative to traditionally mined diamonds, has attracted a new breed of customers who are knowledgeable and increasingly conscientious. Millennials and Generation Z who are known to support products that align with their values and interests, especially around the issues of environmental and social responsibility, are choosing these rocks over mined. Celebrities and some high-profile brand associations have also shown support for these laboratory grown rocks and A-listers like Leonardo diCaprio are doing their bit to promote conscious luxury.
Lab created diamonds are not simply alternatives to traditionally mined rocks; they are, for a fact, the real thing. They are bona fide diamonds recognized by the Federal Trade Commission and certified by trusted international labs. These diamonds created in high-tech labs are chemically, physically, and optically identical with those formed inside the Earth’s mantle. They also undergo the same meticulous grading process as mined gems. Currently, they are being produced in one of two main ways: either through the High Pressure High Temperature (HPHT) method or through the Chemical Vapor Deposition (CVD) process.
The lab-grown diamond industry has reported steady growth over the past decade, coinciding with technological innovations and with more companies becoming involved in their manufacture. By 2030, based on the report published by statista (2021), the global market volume of lab-grown diamonds is seen to reach nearly 19.2 million carats.
Here in the Philippines, local manufacturers are riding on this growing trend. As for Meycauayan Jewelries, this is also a window of opportunity to promote not just our collection of Bulacan Handmade Jewelry but also of our advocacy to raise awareness about lab grown diamonds as an eco-friendly alternative to earth-mined rocks and to empower jewelry consumers in the country to make informed buying decisions.