Half of Couples Now Choose Lab Grown Engagement Rings
Thinking about choosing a lab-grown diamond engagement ring but not sure if it’s OK? And are you really engaged if you don’t spend three month’s salary on the ring? Well, you might be surprised to discover how many couples today are now choosing lab-grown diamonds for their engagement rings.
The Knot surveyed nearly 10,000 US couples married in 2023 to ask them about their engagements and weddings, including the details of that all-important ring. The engagement ring tradition is still going strong. Almost all couples, 95%, exchanged at least one ring when getting engaged. Here’s what the survey tells us about the rings that all those real couples chose in 2023 and a look ahead to weddings planned for 2024.
Made vs Mined
As you might expect, diamonds are the most popular engagement ring gem. In 2023, 85% of the couples surveyed chose diamonds for their engagement ring. But not all those diamonds are mined. In fact, 46% of rings had lab grown center stones in 2023, compared to just 12% as recently as 2019. And it’s not just about saving money: sustainability and responsible sourcing are important too. Roughly one in three couples say having a lab-grown diamond engagement ring is important to them.
The World Goes Round
Although the stone choice may be modern and innovative, the style of most engagement rings remains classic and timeless. The round brilliant cut is still the most popular shape for engagement ring center stones. But round diamond engagement rings are less dominant than ever before as more couples today choose fancy shapes instead. In 2023, just 34% of engagement rings featured round center stones. That’s a 15% drop since 2015. In contrast oval engagement rings have been steadily increasing in popularity over the past eight years. In 2023, 23% of engagement rings featured an oval shape center stone. Pear shape engagement rings are also trending: 8% of engagement rings featured a pear center stone in 2023.
The One for You
More couples today are choosing simple settings. Solitaire engagement rings, styles featuring only one stone, have increased in popularity. Solitaire engagement rings are up 10% since 2015. In contrast, styles with side stones and accent stones have declined in popularity over the same period. Multiple stone styles are down 12% since 2015.
White Weddings
The most popular metal for engagement rings is white gold: 39% of couples chose white gold engagement rings in 2023. Yellow gold is on the rise, though. Yellow gold engagement rings were selected by 31% of couples in 2023. That's a 15% increase from 2019.
Whole Lotta Love
The average carat size of engagement ring diamonds just keeps getting bigger. In 2023, the average engagement ring size was 1.6 carats. In fact, one in three couples now choose two-carat engagement rings or larger, which is up 10% from 2019. Why are couples suddenly supersizing their engagement rings? That’s thanks to the affordability of lab grown diamonds. More couples are discovering that they can choose a larger, better quality lab grown diamond for their budget. The average size of a lab grown diamond ring in 2023 was 1.9 carats, which dramatically increased the average overall size since lab grown diamond engagement rings are so popular.
Popping the Question
More couple staged elaborate proposals in 2023. In fact 70% of proposers said they planning the moment six months in advance. And 58% of proposers said they felt some or a lot of pressure to make the moment unique. About 25% of proposers hired a photographer or planner to help make the proposal memorable, which is more than double the percentage in 2019.
The most popular month to get engaged is December. The holidays are the perfect proposal backdrop, with family and friends gathered together. Christmas Day and Christmas Eve are the most popular days to pop the question. The next most popular occasion is proposing during a vacation trip, which was the choice of 38% of proposers. Another 20% said they planned the proposal when they were gathered with friends and family. Some couples make their own holiday, proposing on a date that has a personal significance like the day they met or an anniversary of the day they fell in love. The average length of engagement in 2023 was 15 months, though 12% of those surveyed were engaged for two years or longer.
Tying the Knot
The Knot also surveyed couples planning to marry during 2024. The most popular wedding day in 2024 is anticipated to be September 21, 2024. Other popular dates reported in the survey are Saturday September 14, Saturday June 22, and Saturday May 18, and Saturday October 12. October is expected to be the most popular month overall to get married in 2024. We can't wait to hear all about their big beauttiful rings too.
