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Rising Lab-Grown Popularity Drives Down Engagement-Ring Spending

Summary by rapaport.com

US couples spent 5% less on engagement rings last year as lab-grown diamond center stones gained in popularity. Consumers who took part in a recent survey paid approximately $5,200 on average for their engagement rings in 2024, down from $5,500 the previous year, according to a report from wedding resource The Knot. That figure also declined 10% from 2022 and 13% from 2021. The decrease came as for the first time, more than half of center stone…

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Rising Lab-Grown Popularity Drives Down Engagement-Ring Spending – by Leah Meirovich (Rapaport Magazine – March 13, 2025)

New Home US couples spent 5% less on engagement rings last year as lab-grown diamond center stones gained in popularity. Consumers who took part in a recent survey paid approximately $5,200 on average for their engagement rings in 2024, down from $5,500 the previous year, according to a report from wedding resource The Knot. That ...

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