American consumers are increasingly choosing natural diamonds over other luxury jewelry options. A new study by De Beers reveals that natural diamond jewelry remains the most desired luxury gift category, while average spending on diamond purchases has risen significantly.
The diamond producer recently released the findings of its US Diamond Acquisition Study, which surveyed 18,500 women across the United States—the world’s largest diamond jewelry market. The results provide a detailed snapshot of evolving consumer preferences.
The average price of a natural diamond jewelry purchase increased to $4,063, compared with $3,242 in 2023. The rise was driven largely by consumers opting for larger stones. Average total carat weight increased from 1.65 carats to 1.86 carats over the same period.
A major force behind this trend is Generation Z. Consumers aged 18 to 27 now rank as the second-largest demographic group by diamond purchasing volume. Although they represent only 18% of the U.S. population, they account for nearly one-quarter of diamond jewelry spending. The average purchase value among Generation Z consumers reached $4,080—almost double the $2,250 average spent by Baby Boomers.
Engagements and romantic relationships remain the leading reasons for purchasing diamonds. However, weddings no longer dominate the market. Today, approximately 75% of diamond demand in the United States is linked to non-bridal occasions. Consumers increasingly buy diamond jewelry to celebrate birthdays, career promotions, new jobs, personal achievements, or simply as self-purchases. Generation Z is also the most active consumer segment, purchasing or receiving diamond jewelry an average of 1.83 times per year.
Natural diamonds continue to outperform competing luxury products in terms of desirability. Eleven percent of surveyed American women identified natural diamond jewelry as their most desired luxury gift. By comparison, laboratory-grown diamonds were selected by 8% of respondents, colored gemstones by 5%, and gold jewelry by 4%.
The study also highlighted growing sales of natural diamonds through independent jewelry retailers in the United States. Data collected from 950 stores showed sales growth of 4% during the fourth quarter of 2025 and 9% during the first quarter of 2026. Particularly strong demand was recorded for fancy-colored and lightly tinted diamonds promoted through De Beers’ Desert Diamonds campaign. Sales of these products increased by 15% and 19%, respectively.
While laboratory-grown diamonds continue to gain volume in terms of units sold, declining retail prices are limiting their contribution to industry revenue. In 2025, natural diamonds accounted for 85% of sales among independent jewelers, while laboratory-grown stones represented only 15%. Analysts also observed that demand for synthetic diamonds drops sharply for stones weighing three carats or more, as many consumers perceive such large laboratory-grown diamonds as less authentic or less desirable.
De Beers believes these trends provide a strong opportunity for the industry to reinforce the value proposition of natural diamonds. Combined with declining global diamond production and signs of recovering demand in China, the company sees the foundations for long-term market growth strengthening.
Source: De Beers
Image: De Beers
