Exploding Topics - ET: May 25th 2021

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Here’s this week’s list of rapidly trending topics, insights and analysis.

Topic #1

Lab grown diamonds are physically and chemically identical to natural diamonds. But because they’re created with a repeatable industrial process, they’re sold for significantly less.

In addition to the jewelry market, lab grown diamonds also have many industrial, medical and scientific use cases.

Lab grown diamond jewelry makers include Lightbox (by DeBeers), Brilliant Earth, Ada Diamonds and MiaDonna.

What's next:
Synthetic diamonds currently make up only 3% of the global diamond market. But their market share is expected to more than triple to 10% by 2030.

One driving factor: younger consumers are open to lab-grown alternatives.

An estimated 66% of Millennial engagement-ring shoppers will look at synthetic diamond options. And 23% actively plan to purchase a ring with a lab grown diamond.

Topic #2

ImgPlay

ImgPlay is a mobile app for creating animated GIFs out of photos or videos.

The startup behind ImgPlay, ImgBase, was founded in South Korea in 2015. They’re also the company behind a popular video editing app called VideoDay and a live wallpaper maker called intoLive.

What's next:
ImgPlay is part of the “GIF sharing” meta trend.

A growing number of platforms (including Discord and WhatsApp) have native support for GIFs. Which is leading to booming demand for DIY GIF creation tools.

Other examples of the GIF sharing meta trend include Tenor (acquired by Google in 2018) GIPHY (acquired by Facebook last year for $400M), and Gfycat.

Topic #3

Flutterwave

Flutterwave is a fintech startup that offers a global payment processing network, point-of-sale systems, virtual credit cards and invoicing.

Its customer base includes Uber, Hygeia and Flywire.

But Flutterwave’s main focus is on small businesses in Africa — where the online financial services space is still in its early stages.

Through a partnership with Worldpay, the startup is also beginning an expansion into the U.S. and U.K..

Founded in 2016, Flutterwave has raised $234.7M in VC funding to date.

What's next:
Flutterwave is part of the “African fintech” meta trend.

Fintech is having an outsized impact in the developing world, where much of the population is unbanked.

(For example, in Senegal in 2016, only 6% of adults had a mobile money account. Today, that number is at least 32%.)

Other examples of this meta trend include the money-transfer app Chipper Cash, its sister product Chipper Checkout (for mobile payments), Kuda free online banking, and the Fundall money management app.

Topic #4

Lion’s Mane

Searches for “lion’s mane” are up 196% over the last 5 years.

Lion’s mane is a type of mushroom that’s used as a natural nootropic. Specifically, it’s said to stimulate the growth of brain cells (which may enhance cognition).

These mushrooms and others are being used in supplement capsules, as well as in mushroom coffee products by brands like Four Sigmatic.

What's next:
Lion’s mane is part of the “mushroom superfood” trend.

The functional mushroom market is estimated to grow from $42B to $62B by 2023 (CAGR of 7.95%).

Unlike most superfoods that tend to fade, there are thousands of different varieties of mushrooms — each with their own host of potential health benefits.

Examples of popular mushroom products include mushroom jerky, mushroom protein powder, and mushroom hot chocolate.