Natural diamonds remain the most coveted luxury jewellery item in the United States, with Generation Z emerging as one of the industry’s biggest spenders, according to De Beers Group’s latest consumer research.
The study, which surveyed 18,500 women aged between 18 and 74 across the US, found that Gen Z consumers now account for 23 percent of natural diamond demand by value despite making up just 18 percent of the population. The younger generation is also spending significantly more on natural diamonds, averaging US$4,080 per purchase compared to US$2,250 among Baby Boomers.
De Beers said changing consumer habits are redefining the market, with diamonds increasingly being purchased to celebrate personal milestones such as career achievements, birthdays and self-reward moments, rather than exclusively for engagements and weddings. Non-bridal purchases now make up three-quarters of overall US diamond demand.
The report further revealed that natural diamonds continue to hold a stronger appeal than other luxury jewellery options. Eleven percent of women surveyed ranked natural diamond jewellery as their most desired luxury gift, ahead of synthetic lab-grown diamonds at eight percent, coloured gemstones at five percent and plain gold jewellery at four percent.
While sales volumes of lab-grown diamonds are rising, De Beers noted that declining prices are limiting their overall market value. Natural diamonds accounted for 85 percent of independent jewellers’ diamond sales value in 2025, compared to 15 percent for synthetic alternatives. The findings suggest consumers continue to associate natural diamonds with rarity, authenticity and lasting value.
De Beers executives said the evolving trends present an opportunity for the industry to broaden its appeal beyond traditional bridal marketing, particularly as younger buyers seek jewellery that reflects individuality and marks important life moments.
