A recent comprehensive analysis conducted by De Beers Group indicates a robust and expanding market for genuine diamonds across the United States. The 2025 Diamond Acquisition Study, which gathered insights from approximately 18,500 American women spanning ages 18 to 74, unveiled a notable increase in the average expenditure per diamond piece. This figure climbed by 25%, reaching an average of $4,063, a significant rise from $3,242 recorded in the previous year. This upward trend is primarily attributed to a heightened consumer preference for larger gemstones, with the average carat weight expanding from 1.65 to 1.86 carats. The study also pinpointed that authentic diamonds are the most coveted luxury jewelry item, with 11% of women expressing a desire for them as a gift, surpassing lab-created diamonds (8%), other precious stones (5%), and plain gold adornments (4%).

Remarkably, the younger generation, specifically Gen Z, is at the forefront of this market growth, spending nearly double the amount on average compared to Baby Boomers. Gen Z consumers allocate an average of $4,080 per item, in contrast to Baby Boomers' $2,250. Despite constituting only 18% of the surveyed demographic, Gen Z contributes a substantial 23% to the overall value of natural diamond demand. Furthermore, the report highlights a significant evolution in purchasing motivations; non-bridal events, such as personal milestones and self-gifting, now represent 75% of the total demand value in the U.S. Data from 950 independent jewelers corroborates this trend, showing a 4% increase in natural diamond sales during Q4 2025 and a 9% rise in Q1 2026. Diana Mitkov, a leading researcher at De Beers Group, emphasized that the industry's valuation is no longer solely driven by traditional milestones like engagements. Consumers are increasingly commemorating diverse occasions with genuine diamonds, seeking unique pieces that reflect their individuality.

While the volume of lab-grown diamonds is on the rise, their declining retail prices have constrained their market share. In 2025, lab-created diamonds accounted for merely 15% of independent jewelers' diamond sales, with natural diamonds dominating at 85%. The study also identified a noticeable drop in sales of lab-grown diamonds once they reach three carats or more. This suggests a potential consumer reluctance towards synthetic diamonds at larger sizes, which could impact retailers' strategies for upselling and potentially affect long-term profit margins if the price decline persists.

The burgeoning interest in natural diamonds, particularly among younger demographics, underscores a vibrant and evolving market. This shift towards personal expression and diverse celebrations, coupled with the enduring perceived value of genuine stones, fosters a positive outlook for the future of the diamond industry. It highlights that authenticity and emotional connection remain paramount for consumers, paving the way for sustained growth and innovation in the sector.