Proposing? Here's how much a lab-grown equivalent to a natural diamond costs — and why.

More consumers are gravitating toward man-made diamonds for their striking similarity to natural rocks and their relative affordability. 

In 2015, sales of lab diamonds made up less than 1% of all global diamond sales for jewelry. Today, the share is closer to 20%, according to industry data from Paul Zimnisky Diamond Analytics.

With demand increasing, more producers are entering the lab diamond market and prices are dropping even further.