US Diamond Demand Shifts as Gen Z Fuels Growth in Natural Diamond Purchases, De Beers Reports
Diamond producer De Beers has released new findings on US consumer behaviour in its latest US Diamond Acquisition Study, revealing that jewellery featuring natural diamonds remains the most desirable luxury choice among American consumers.
The study, based on a survey of 18,500 women across the United States the world’s largest diamond market provides detailed insights into purchasing trends, motivations, and shifting generational demand patterns.
Strong Demand for Natural Diamonds in the US
The report shows that natural diamond jewellery continues to outperform other luxury jewellery categories in consumer preference.
Around 11% of women surveyed identified natural diamond jewellery as their most desired luxury gift, ahead of lab-grown diamonds (8%), other gemstones (5%), and plain gold jewellery (4%).
At the same time, the average price of diamond jewellery purchases has increased significantly, rising by 25% overall. In 2025, the average price reached approximately $4,063 per piece, compared with $3,242 in 2023.
De Beers attributes this increase largely to consumers purchasing larger stones, with average total carat weight rising from 1.65 carats in 2023 to 1.86 carats in 2025.
Gen Z Emerges as a Key Growth Driver
One of the most notable findings is the growing influence of Generation Z in the diamond market.
The cohort now represents the second-largest group of diamond buyers in the United States and accounts for 23% of total demand value, despite making up only 18% of the population.
Gen Z consumers also purchase or receive diamonds more frequently than other age groups, averaging 1.83 occasions per year compared with the overall average of 1.7.
While bridal jewellery remains a major driver of demand at 45% of Gen Z purchases, non-bridal occasions are becoming increasingly important.
Birthdays account for 17% of Gen Z diamond acquisitions, compared with 13% across all generations.
The study also highlights a shift in motivations. Although love and engagement remain central drivers of demand, younger consumers are increasingly purchasing diamonds to mark personal milestones such as career achievements, promotions, new jobs, or simply as self-reward.
Gen Z also places strong emphasis on self-expression, viewing diamonds as symbols of identity, and relies more heavily on social media for purchase research than older generations.
Changing Consumer Behaviour and Value Perception
Gen Z consumers spend significantly more per purchase than older generations, averaging $4,080 per diamond jewellery item compared with $2,250 for Baby Boomers.
De Beers notes that this reflects both a shift toward larger stones and growing demand for distinctive, personalised designs across multiple occasions.
According to De Beers researcher Diana Mitkov, today’s consumers continue to aspire to own natural diamonds, but their purchasing behaviour is evolving.
She noted that traditional milestones such as engagements are no longer the only key drivers of demand, as consumers increasingly associate diamonds with a wider range of life events and personal achievements.
Market Trends and Competitive Landscape
The report highlights a widening distinction between natural and lab-grown diamonds in the US retail market.
While lab-grown diamonds are growing in volume, declining prices mean their overall value share remains relatively limited at around 15% of independent jewellers’ diamond sales, compared with 85% for natural diamonds in 2025.
Data from 950 US independent retailers shows that natural diamond sales increased by 4% in Q4 2025 and by 9% in Q1 of the current year.
Coloured diamonds and lower-colour grade stones (K to Z range), promoted under De Beers’ “Desert Diamonds” campaign, outperformed broader categories, recording sales growth of 15% and 19%, respectively.
The report also notes a drop-off in consumer demand for lab-grown diamonds above three carats, suggesting limits in their premium upselling potential as prices continue to decline.
Industry Outlook and Future Demand
De Beers executive vice president for corporate affairs and strategy and chief economist Eirik Wærness says the diamond industry is undergoing rapid structural change driven by both supply and demand dynamics.
On the supply side, declining global production of natural diamonds is expected to support a more balanced market in the coming years. On the demand side, stabilising conditions in China and strong US economic performance helped return global natural diamond demand to growth in 2025.
Wærness added that evolving retail strategies are likely to further differentiate natural and lab-grown diamonds, particularly as the value positioning of synthetic stones comes under pressure.
He emphasised that these trends present an opportunity for the industry to reinforce the long-term value of natural diamonds by expanding design innovation across sizes, colours, price points, and non-traditional occasions.
Broader Industry Insights
The findings are featured in De Beers’ The Diamond Report, which also examines retail trends in the US jewellery sector, perspectives from leading designers and retailers, and the socioeconomic role of natural diamonds in producing communities.
Overall, the report underscores a shifting but resilient market in which natural diamonds continue to dominate in value terms, supported by evolving consumer behaviour, especially among younger generations.
