“Synthetic diamonds currently account for more than a fifth of global diamond jewelry sales, up from less than 1% in 2016, according to Paul Zimnisky, an independent analyst.

For engagement rings, the penetration is even higher. More than half the engagement rings purchased last year in the U.S. had a lab-created diamond, a 40% increase compared with 2019, according to a survey of nearly 17,000 U.S. couples by wedding planning website The Knot. 

‘Diamonds were always seen as expensive, a rich person’s asset,’ says Matt Bick, a third-generation diamond seller with a showroom on the same London block as the De Beers headquarters. ‘Now everyone can wear them.'”

From Wall Street Journal.