Singapore's Under-35 Buyers Demand Transparency, Fuel Lab Diamond Growth

For consumers under 35, the meaning of luxury is changing. Beauty and craftsmanship still matter, but younger Singaporeans increasingly expect transparency, responsible practice and genuine value as part of the purchase. Iris Arnold, founder and Global CEO of Novita Diamonds, believes this generational shift is why lab grown diamonds have moved into the jewellery mainstream.

A diamond purchase has traditionally followed convention, rarity, size and tradition shaping what an engagement ring should be. Younger Singaporean consumers are approaching it differently: researching more, questioning assumptions and deciding for themselves what matters.

According to Arnold, younger consumers are not moving away from the meaning of diamonds. She adds: They are becoming much more deliberate about what gives a diamond meaning to them.

A category at real scale

Lab grown diamonds have grown from niche to significant global category. Estimates vary with methodology, but recent figures place the worldwide market at roughly US$28 billion to US$34 billion in 2025-26, with continued growth expected through the decade.

The Gemological Institute of America reports substantial increases in the quantity, size and quality of laboratory-grown diamonds, noting they share essentially the same chemical composition and crystal structure as mined diamonds and appear identical to the unaided eye.

According to Arnold, the technology has matured and consumers have become much more informed. She adds: But the strongest change has been cultural.

Values and value together

Sustainability strongly influences Generation Z and younger millennials, a discerning, globally connected group in Singapore. Deloitte's 2024 global survey found 64 per cent of Gen Z and 63 per cent of millennials willing to pay more for environmentally sustainable products, while PwC found consumers willing to pay an average premium of about 9.7 per cent for sustainably sourced goods.

According to Arnold, for younger customers, ethics are not a separate discussion that takes place after the product has been selected. She adds: They are increasingly part of how the customer evaluates the product itself.

Value for a considered generation

Younger Singaporean buyers are notably value-conscious, seeking the best relationship between price, quality, design and meaning. A lab grown diamond allows a larger stone or more elaborate design without the pricing traditionally tied to mined rarity.

According to Arnold, this generation is not less romantic. She adds: It is more conscious of how a major purchase fits into the rest of life.

Evidence over slogans

Because they are not extracted from the earth, these diamonds can reduce direct land disturbance. But Arnold is candid about the caveat: production requires energy, and the footprint depends on method, facility efficiency and electricity source.

According to Arnold, it is not enough to apply a label such as sustainable and expect the customer to stop asking questions. She adds: Understand the supply chain, improve it where possible and communicate honestly about both the benefits and the impacts.

Younger buyers, alert to greenwashing, reward specificity.

Maturing standards

Ethics now span human rights, working conditions and accurate disclosure. The Responsible Jewellery Council's Laboratory Grown Material Standard became effective on 1 May 2025. GIA updated its assessment approach in October 2025, describing qualifying colourless to near-colourless stones as Premium or Standard and laser-inscribing each stone for identification.

According to Arnold, the customer should always understand exactly what they are purchasing.

Informed and individual

Younger buyers arrive well-researched, with specific questions about certification, origin and transparency. They reject a standardised idea of the engagement ring and increasingly buy diamonds to mark milestones beyond engagements.

According to Arnold, the meaning of jewellery is becoming more individual. She adds: Younger consumers are comfortable creating their own traditions.

Built on trust

The category's rise reflects a changing relationship between luxury and the customer. Consumers under 35 want evidence, choice and control, and credible environmental communication without exaggeration.

According to Arnold, the strongest businesses will be those that respect the intelligence of the customer. She adds: They want clear information, beautiful products and the freedom to make a choice that feels right for them.

Beauty and meaning endure, but younger Singaporeans now expect both to arrive with transparency, responsibility and genuine value. For the industry, that is a new standard for earning trust.