Half of millennial and Gen Z couples pick engagement rings with lab-grown diamonds— 'well beyond what the mining industry had expected,' McKinsey says

couple posing with engagement ring (Credit: Getty Images—filadendron)

• More than half of couples have reported buying a lab-grown diamond for their engagement rings for the first time in history, according to a study by The Knot. That’s because lab-grown diamonds typically have better value in terms of size and price. While lab-grown diamonds were originally touted as a more environmentally friendly option, they still require large amounts of energy to produce.

More carats at a lower price sounds like a great deal. That’s why many couples are choosing lab-grown diamonds over natural mined diamonds for their engagement rings. Plus, there’s a perception lab-grown diamonds are better for the environment.