De Beers has released The Diamond Report 2025, a newly published study based on a survey of 18,500 U.S. consumers aged 18 to 74, offering fresh insights into consumer behavior and key trends shaping the diamond industry.
The report points to continued strength in the natural diamond category. Average consumer spending on natural diamond jewelry rose 25% year-over-year to $4,063, while the average diamond size increased from 1.65 carats to 1.86 carats. It also found that 75% of diamond jewelry purchases are now made for reasons other than engagements or weddings, including self-purchases and gifts marking important life milestones.
The report also highlights ongoing pressure on the lab-grown diamond segment. Wholesale prices for lab-grown diamonds have declined by roughly 93% since 2020, while the category accounts for only about 15% of jewelry sales value in the U.S. market. According to the report, this reflects a significant gap between sales volumes and the overall value generated by the category.
Another key finding is the growing influence of Generation Z consumers. While Gen Z represents around 18% of the population, it already accounts for approximately 23% of natural diamond demand. The report also found that 51% of Gen Z consumers intend to purchase natural diamond jewelry within the next 12 months, reinforcing the generation’s role as a major driver of future industry growth.
Read the full report here
