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Engagement Rings are Changing in 2024: Lab-grown Diamonds are Taking Over!

According to the wedding website The Knot, almost half of couples who got married last year chose a lab-grown diamond for their engagement ring. We are seeing a significant change in buyer preferences that consumers and retailers must be aware of!

TL/DR About Engagement Rings in 2024

46% of couples now prefer lab-grown diamonds for engagement rings, demonstrating a shift towards ethical and sustainable choices. Couples still value traditional diamond rings but are opting for larger stones. Moissanite is rising in popularity as an affordable alternative. Round diamonds are the most popular, followed by ovals and pear shapes. White gold is the top metal choice, with yellow gold making a comeback.

The State of Engagement Rings in 2024

Key Findings Of The Knot’s Survey

Let’s examine the key findings of the latest research on engagement ring trends to discover what couples are choosing in today’s evolving landscape.

Infographic Image Depicting Key Facts About Engagement Rings In 2024.
All About The Ring

Lab-Grown Stones on the Rise

In a notable shift from previous years, 46% of couples now prefer lab-grown stones for their engagement rings, a substantial increase from the 12% reported in 2019. This surge in popularity highlights a growing acceptance of lab-created gems for symbolic and ethical reasons.

The Importance of Lab-Grown Stones

Interestingly, the study reveals that 1 in 3 couples consider having a lab-grown stone crucial when selecting an engagement ring, compared to only 1 in 5 couples in 2019. This shift underscores modern couples’ changing mindsets towards sustainability and eco-conscious choices.

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Continued Preference for Engagement Rings

Despite changing trends, 95% of couples still include a ring in their engagement ritual, with a striking 85% choosing a classic diamond as the centrepiece of their ring. This tradition remains strong and highlights the enduring significance of the engagement ring as a symbol of love and commitment.

Increasing Diamond Sizes

The average diamond size in engagement rings has notably increased, standing at 1.6 carats on average. Moreover, nearly a third of rings boast sizes exceeding 2 carats, including accent and side stones. This indicates a growing preference for larger and more luxurious stones among couples.

The Rise of Lab-Grown Diamonds in Engagement RIngs and Elsewhere

The Rise of Moissanite

Moissanite, a popular alternative to traditional diamonds, is gaining traction as a favoured choice among couples. Close to 3 in 10 couples who choose a gemstone other than a diamond as the centrepiece of their engagement ring are now opting for this stunning yet budget-friendly gem. This represents a rise of 10% since 2019. This showcases a shift towards unique and affordable engagement ring choices.

These key findings offer valuable insights into couples’ evolving preferences and priorities when selecting the perfect engagement ring that symbolizes their love and commitment.

Trends in Diamond Shapes

Diamonds are a timeless symbol of love and commitment, and the shape of the diamond you choose can say a lot about your style and taste. Let’s explore the current trends in diamond shapes that are captivating the hearts of couples worldwide.

  1. Round Diamonds
    Round diamonds have long been the classic choice for engagement rings, and it’s no surprise that they remain the most popular shape among couples. In fact, 34% of couples opt for the timeless elegance of a round diamond. In 2015, almost 50% of couples chose the classic round diamond shape.
  2. Oval Diamonds
    Over the years, oval diamonds have been gaining popularity, with a remarkable 21% increase in preference since 2015. Oval diamonds are now the second most popular shape for centre diamonds in engagement rings. This elongated shape offers a unique twist on the traditional round diamond. 23% of couples who want a blend of sophistication and individuality prefer it.
  3. Pear or Teardrop Shape Diamonds
    The pear or teardrop-shaped diamonds are a symbol of romance and elegance. Despite not being as mainstream as round or oval diamonds, they still claim an 8% market share. This exquisite shape is favoured by couples looking for a distinctive and eye-catching engagement ring.
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When choosing a diamond shape, you must consider your style, budget, and the message you want your ring to convey. Whether you prefer the classic brilliance of a round diamond, the modern allure of an oval diamond, or the unique charm of a pear-shaped diamond, there is a shape to suit every love story.

Read on for more insights and trends in diamonds and engagement rings!

Metal Preferences

Regarding engagement rings, the choice of metal plays a significant role in reflecting personal style and taste. Two of the most popular choices among couples are white gold and yellow gold.

White Gold: Representing modern elegance, white gold has become the top metal preference for engagement rings, with 39% of couples selecting this option. Its sleek and timeless appearance makes it a versatile choice that complements a variety of diamond cuts and settings.

Yellow Gold: While white gold continues to dominate, yellow gold is experiencing a resurgence in popularity. Chosen by 31% of couples, this warm and classic metal has notably increased from just 15% three years ago. The rich hue of yellow gold adds a touch of vintage charm to engagement rings, making them stand out.

Whether you opt for the contemporary allure of white gold or the traditional beauty of yellow gold, the metal choice ultimately depends on personal preferences and individual style. Both options offer a stunning backdrop for showcasing the symbol of love and commitment that an engagement ring represents.

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Avatar Of Andrew Wilson
Andrew Wilson is a seasoned writer specializing in the jewellery industry. He began his career in newspapers, developing strong research and reporting skills before transitioning to marketing, where he gained insights into consumer behaviour and market trends. For the past 15 years, he has been a full-time writer, combining his journalism and marketing experience. In 2019, he shifted his focus to the jewellery industry, known for his research-driven approach and in-depth insights. An active member of the International Gem Society, Andrew contributes to various jewellery businesses under pseudonyms, earning respect for his knowledge-rich and engaging writing style. His work is guided by a commitment to making the jewellery industry more accessible and informative. https://facebook.com/Knowhownow