New York: The Global Research and Consultancy firm Frost & Sullivan´s report indicates shows that production of mined diamonds will diminish from the current level of around 125 million carats in 2015 to only 62 million carats in 2030. Whereas the annual demand for diamonds worldwide will reach 221 million carats by 2030.

According to Madestones, the larger producer in Europe of synthetic diamonds, laboratory grown diamonds provide a solution to the expected decline in the supply of mined diamonds, which is likely to affect the diamond industry’s economy by filling significant 13% demand supply deficit. In the years to come, with the reasons above combined with social and environmental responsibility and affordability, the lab-grown diamonds are forecasted to be a dominant player in the diamond jewelry industry, predicts Madestones.