Natural diamonds remain the premier luxury jewelry choice for U.S. consumers, capturing a higher desirability ranking than synthetic lab-grown alternatives, according to the latest Diamond Acquisition Study from De Beers Group. The report, which surveyed 18,500 women, reveals that average purchase prices for natural diamonds climbed to $4,063 in 2025, up from $3,242 in 2023, as buyers increasingly prioritize larger carat weights and non-bridal occasions.
Why are natural diamond prices rising?
The increase in average spending is driven by a shift toward larger stones rather than just price inflation, according to De Beers Group. The average total carat weight for natural diamond purchases rose to 1.86 carats in 2025, an increase from 1.65 carats in 2023. This trend suggests that while the broader luxury market faces competition, consumers are choosing to allocate more of their budget toward higher-quality, larger natural stones. Data from 950 independent retailers confirms this momentum, showing year-on-year sales growth of 4% in late 2025 and 9% in early 2026.
Natural diamonds account for 85% of total diamond sales value at independent U.S. retailers, while synthetic lab-grown diamonds hold a 15% share, despite higher sales volumes for synthetics.
How is Gen Z changing the diamond market?
Generation Z is currently the second-largest generation of diamond purchasers, accounting for 23% of total demand value despite making up only 18% of the population, according to De Beers Group. Unlike older demographics that primarily associate diamonds with bridal milestones, Gen Z consumers purchase or receive diamonds for 1.83 occasions per year, surpassing the overall average of 1.7. Research indicates that birthdays are a major driver for this group, representing 17% of their acquisitions. For these younger buyers, diamonds serve as a primary tool for self-expression and identity, with the cohort relying heavily on social media to research potential purchases.
What is the future of synthetic versus natural diamonds?
The retail landscape for lab-grown diamonds is facing potential saturation as prices continue to decline, according to De Beers Group’s analysis. Data shows a marked drop-off in synthetic diamond sales once stones exceed 3 carats, suggesting that consumers perceive a “size ceiling” where the value of a synthetic stone diminishes. Eirik Wærness, Chief Economist at De Beers Group, notes that as synthetic prices fall, retailers may struggle to upsell larger lab-grown pieces, likely leading to a focus on differentiating natural diamonds as a distinct, premium product category.
Market Comparison: Natural vs. Synthetic
| Metric | Natural Diamonds | Synthetic Diamonds |
|---|---|---|
| 2025 Value Share | 85% | 15% |
| Consumer Preference | 11% | 8% |
When shopping for jewelry, consider that diamonds in the K–Z color range—often marketed as “desert diamonds”—have seen significant retail growth, outperforming standard color grades in recent sales cycles.
Frequently Asked Questions
Are synthetic diamonds replacing natural diamonds?
No. While synthetic sales are increasing in volume, their declining retail prices have kept their value share at 15%, compared to 85% for natural diamonds, according to De Beers Group.
What is the primary driver of diamond demand in the U.S.?
Non-bridal occasions, such as birthdays and personal milestones, now account for three-quarters of overall U.S. demand for natural diamonds.
Is diamond production increasing?
Global production of natural diamonds is currently in decline, a trend that industry analysts expect will support a more stable supply-demand balance in the coming years.
For more insights on the shifting jewelry market and industry trends, subscribe to our weekly newsletter or join the conversation in the comments below.
