‘The Diamond Report’ was published on 11 June and included a survey of 18,500 women aged between 18 and 74. It found that spending on natural diamonds has increased by more than one-quarter in the US, reaching an average of $USD4,063 per piece in 2025, up from $USD3,242 in 2023.
It suggested that younger buyers are playing an increasing role in demand, finding that Gen Z is already the second-largest generation purchasing natural diamond jewellery. As part of the report, De Beers CEO Al Cook said that industry unity should remain a priority.
“The bottom line is, the US consumer remains highly captivated by natural diamonds, and it is the very attributes that make natural diamonds unique that resonate most," writes Cook.
"Now it’s time for the industry to accelerate the recovery by working together to help bridge the gap between natural diamond aspiration and acquisition. In an increasingly competitive landscape, this recovery will not happen overnight, but it can be achieved through industry-wide action – and marketing, product and retail approaches that respond to the preferences of today’s diamond consumer."
The report also highlighted a shift away from engagement rings as the dominant market for natural diamonds, with bridal purchases now accounting for only 25 per cent of US natural diamond demand.
Furthermore, in 2025, gifting accounted for 44 per cent of sales, up 35 per cent from two years earlier, while self-purchases accounted for 31 per cent. The survey ranked natural diamond jewellery as the most-wanted luxury gift, ahead of gold jewellery, other gemstones, and lab-created diamonds.
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