2024’s Biggest Engagement Ring Trend Is Totally Unexpected — & Half the Price of the ‘Traditional’ Choice

All products and services featured are independently chosen by editors. However, StyleCaster may receive a commission on orders placed through its retail links, and the retailer may receive certain auditable data for accounting purposes.

When it comes to proposals, brides-to-be are creating their own rules. Gone are the days when you hope your partner knows which ring you want. People who want an engagement ring are sharing exactly the styles and stones they’re interested beforehand to make sure they get exactly what they want. And over the last few years, more and more people are opting out of spending a fortune on a ring —especially Gen Z, which a recent study says is a generation that’s far less interested in costly engagement rings, especially when inflation rates and housing prices keep climbing.

Plus, younger Americans are much more likely to invest in goods that are ethically made and better for the planet—jewelry included.

Even so, brides still don’t want to sacrifice style when it comes to popping the question; they’re just starting to lean away from expensive, flashy, natural diamonds and instead turning towards environmentally-friendly, more affordable, and still gorgeous-as-ever stones. Which is why lab-grown diamonds are poised to become the biggest engagement ring trend of 2024. The numbers back that up: According to a March 2023 report, the lab-grown diamond market is expected to grow to $37 billion by 2028 (it’s currently valued at $22.45 billion).

What are lab-grown diamonds, exactly?

Lab-grown diamonds are what they sound like: They’re diamonds grown in a lab. Scientists mimic the environment where natural diamonds are cultivated with high temps and immense pressure. In this environment, carbon atoms are physically bonded together to form a crystalline mass. They look and feel exactly like diamonds, yet only take a few weeks to create — and they’re just as durable.

And the price of lab-grown diamonds is seen as a huge plus, which is something jewelers are noting. “Lab-grown diamonds have become so popular among younger couples looking to get engaged because it has given them a chance to own a beautiful piece of jewelry without spending a ridiculous amount of money,” explains Rustin Yasavolian, CEO of Masina Diamonds.

“In an age where everything has become more expensive, lab-grown diamonds have exploded in popularity. It gives couples a chance to get engaged with a diamond size and quality that they would have to otherwise taken years of savings. You can now get a colorless VS clarity 3.00ct diamond under $10K where it would cost over $40K in a a natural diamond,” he adds.

Ahead are the five most popular lab-grown diamond engagement ring styles we’re going to see in 2024. Get ready to add these to your Pinterest board!