Natural Diamonds Face a Defining Period of Change and Opportunity

 

The natural diamond industry is entering a crucial period of transformation, with market leaders highlighting the key forces that will shape demand, supply and consumer confidence over the next five years.

According to analysis from De Beers, rebuilding demand for natural diamonds will depend on several important industry priorities, including stronger marketing, clearer differentiation from lab grown diamonds and a more balanced supply environment.

Marketing Remains Critical for Natural Diamond Demand

De Beers believes effective marketing will play a central role in restoring consumer desire for natural diamonds. After a period of changing consumer behaviour and economic uncertainty, the industry must continue to communicate the unique emotional value, rarity and enduring legacy of natural diamonds.

Building a stronger connection with younger consumers will be essential to ensuring natural diamonds maintain their position as symbols of love, commitment and achievement.

Lab Grown Diamond Pricing Faces Growing Pressure

The rapid growth of synthetic lab grown diamonds has created a new competitive landscape for the diamond industry.

However, current retail margins on lab grown diamonds are expected to face increasing pressure as competition expands and production continues to rise. As prices decline, the industry believes consumers will increasingly focus on understanding the differences between natural diamonds and laboratory created alternatives.

Differentiation Becomes Key to Consumer Confidence

Clear education and transparency will be vital for the future of the diamond market.

Natural diamonds are formed over billions of years beneath the earth’s surface, while lab grown diamonds are created through technological processes in controlled environments. Ensuring consumers understand these differences will be important in maintaining confidence and value perception.

Independent grading and certification from recognised laboratories such as DCLA will continue to play an important role in providing consumers with trust and assurance when purchasing natural diamonds.

Declining Rough Diamond Supply Could Support Long Term Market Balance

Another major factor shaping the future of natural diamonds is declining global rough diamond production.

With several major mines reaching maturity and fewer large discoveries entering production, supply is expected to reduce over the medium to long term. A tighter supply environment could help support a healthier balance between availability and demand.

Russia Introduces New Rough Diamond Export Duty

Russia is set to introduce an 8% export duty on rough diamonds weighing 0.45 carats or more from September 1.

The new measure, announced through a government decree, adds another layer of complexity to the global rough diamond supply chain. Russia remains one of the world’s largest diamond producers, meaning changes to its export policies can influence international market dynamics.

AWDC Launches First Sale of Traceable Artisanal Diamonds from Congo

The Antwerp World Diamond Centre has completed its first sale of artisanally mined rough diamonds from the Democratic Republic of Congo through the OrigemA programme.

Established in 2022 as a partnership between Belgium and the DRC, OrigemA aims to connect small scale Congolese miners with international markets by providing fully traceable artisanal diamonds.

The programme is designed to improve market access for artisanal miners while ensuring they receive fair value for their production. The DRC accounts for a significant share of global artisanal diamond output, making responsible sourcing initiatives increasingly important for the future of the industry.

Petra Diamonds Faces Ongoing Industry Pressure

Petra Diamonds continues to experience the challenges affecting many mid tier diamond producers as the industry works through a prolonged period of market disruption.

Lower rough diamond prices, weaker luxury demand in key markets and increased competition from lab grown diamonds have created financial pressure across the sector.

The company’s restructuring challenges highlight the broader issues facing producers with concentrated operations and single commodity exposure. The coming years are expected to test the resilience of diamond miners as the industry adjusts to changing consumer demand and evolving market conditions.

The Future of Natural Diamonds

The next five years will be a defining period for the natural diamond industry.

Success will depend on strengthening consumer confidence, improving education, supporting responsible sourcing and reinforcing the unique value of natural diamonds.

While the market faces significant challenges, declining supply, stronger differentiation and renewed storytelling around natural diamonds could create the foundation for a more balanced and sustainable future.

Source: DCLA

US Consumers Continue to Prefer Natural Diamonds, De Beers Study Reveals

 

New research from De Beers highlights continued strong consumer demand for natural diamonds in the United States, with natural diamond jewellery remaining the most desired choice among luxury jewellery buyers.

The latest US Diamond Acquisition Study, based on insights from 18,500 women across the US, reveals that consumers continue to view natural diamonds as a symbol of value, celebration and personal achievement.

The study found that natural diamonds rank as the most desirable luxury jewellery gift, with 11% of women choosing natural diamond jewellery as their preferred option. This places natural diamonds ahead of lab-grown diamonds at 8%, other gemstones at 5%, and plain gold jewellery at 4%.

Average spending on diamond jewellery has also increased significantly. The average purchase price for natural diamond jewellery reached $4,063 in 2025, up from $3,242 in 2023, driven by consumers choosing larger diamond sizes, with the average total carat weight increasing from 1.65 carats to 1.86 carats.

One of the key findings is the growing influence of Generation Z, which has become the second largest generation of diamond buyers. Gen Z now represents 23% of natural diamond demand value despite making up only 18% of the population.

Younger consumers are also spending more on natural diamonds, with Gen Z buyers spending an average of $4,080 per purchase compared with $2,250 for Baby Boomers.

While engagements and weddings remain important drivers of diamond demand, the way consumers purchase diamonds is changing. Three quarters of US diamond demand now comes from non-bridal occasions, including birthdays, career milestones, promotions, personal achievements and self-purchase.

De Beers found that Gen Z buyers are particularly motivated by self-expression, viewing diamonds as a reflection of personal identity. They also rely heavily on social media when researching jewellery purchases.

Diana Mitkov from De Beers’ Diamond Demand Insights & Analytics team said the findings show that consumers continue to aspire to own natural diamonds, while the reasons behind purchases are evolving.

“Traditional milestones such as engagements are no longer the only occasions where consumers celebrate with diamonds. Today’s buyers are looking for meaningful pieces that reflect their own stories and achievements.”

The report also highlighted positive trends among independent US jewellers. Retail data from 950 stores showed natural diamond sales increased by 4% year-on-year in the fourth quarter of 2025 and 9% in the first quarter of 2026.

Coloured and lower-colour natural diamonds, promoted through De Beers’ “Desert Diamonds” campaign, performed particularly well, with sales growth of 15% and 19% respectively.

While lab-grown diamond jewellery continues to grow in volume, falling prices have reduced its overall value share. In 2025, natural diamonds represented approximately 85% of independent jewellers’ diamond sales value compared with 15% for lab-grown diamonds.

The study also found that sales of larger lab-grown diamonds decline once stones reach 3 carats or more, suggesting consumers may question the value and appeal of very large synthetic diamonds.

De Beers believes the future of natural diamonds will be supported by changing supply and demand dynamics. Declining global natural diamond production is expected to help create a healthier supply balance, while improving demand conditions in key markets are providing renewed confidence for the industry.

The findings reinforce the ongoing appeal of natural diamonds as rare, unique creations of nature, with consumers continuing to value their emotional significance, individuality and long-term meaning.

Source: DCLA

Love that lasts: natural diamonds continue to win hearts, with 2.1% growth in speciality jeweller sales

 

Diamonds embody enduring love, making them the natural choice for marking a relationship. In 2025, the average price of natural diamond jewellery grew by 10%, reflecting demand for the rare, precious stones. Consumers continue to value diamonds for their unique qualities, natural origins and timeless versatility as a symbol of life’s most cherished moments and enduring legacy. Valentine’s Day is expected to be sparkly this year!

Released today, 12 February 2026, by the Natural Diamond Council (NDC) in partnership with Tenoris, the Natural Diamond Trends: A 2025 Overview report uncovers U.S. consumer preferences in natural diamond jewellery. It provides an overview of 2025 that reveals the styles, qualities and buying occasions that will shape the diamond jewellery industry in the coming years. To create this report, NDC used data collated by Tenoris from over four million jewellery transactions by 2,500 speciality jewellers across the US.

The ultimate Valentine’s Gift: natural diamonds

The report found that in 2025, Valentine’s Day and Mother’s Day accounted for 16% of annual sales of natural diamonds. In 2026, natural diamonds are set to bring just as much sparkle to special occasions.

Over the next two years, the love for natural diamonds is only expected to grow. The report takes insights from the De Beers commissioned US Natural Diamond Tracker Study 2025 conducted by Ipsos, which found that more than 40% of women and 50% of men anticipated to purchase or receive natural diamond jewellery in the next 24 months.

“Together, Gen Z and Millennials now represent the majority of diamond jewellery demand globally — and they are the most influential force shaping the future of the category. With the current emphasis on personal expression and bespoke details, consumers have more ways than ever to choose a piece that reflects a shared story. In a world of replication and simulation, emotion is what makes natural diamonds irreplaceable,” says Amber Pepper, CEO of the Natural Diamond Council.

Their versatility in both subtle everyday pieces or dramatic showstoppers means they work for every style. The Pinterest Predicts 2026 report supports the view that individuality will drive demand for unique jewellery designs and vintage-inspired pieces. It highlights nostalgia and self-expression as key themes.

In 2025, the average total carat weight for jewellery sold on Valentine’s Day was 0.59 carats, with round brilliants the favourite shape and non-bridal rings the top category. Engagement jewellery also plays a meaningful role: Valentine’s Day marks the close of the US engagement season, with 47% of couples getting engaged between November and February, according to The Knot.

Engagement ring trends

For those getting engaged around Valentine’s Day, it’s likely the natural diamond will be a round brilliant in shape. They made up 62% of diamond engagement unit sales in US, according to the report.

Through 2025, an array of celebrity engagements also showcased a range of personalised settings, as well as use of fancy shapes. The likes of Selena Gomez, Taylor Swift, Georgina Rodriguez and Zendaya all revealed sparking elongated shaped diamonds for their engagement rings. The classic, elongated marquise shape saw a 12% year-on-year growth, and with many celebrity endorsements through 2025, it is likely to remain in high esteem through 2026 and beyond.

“Natural diamonds have been around for billions of years and adored by people for millennia. Formed by time. carried by nature. chosen to mark life’s most profound moments. Not only are they here to stay, but the trend is for iconic natural diamonds that will capture attention, win hearts, and help us express ourselves with authenticity,” adds Amber Pepper.

Read about these natural diamond consumer trends and more in the NDC report release today, Natural Diamond Trends: A 2025 Overview.

Download the report here: naturaldiamonds.com

About the Natural Diamond Council  

The Natural Diamond Council (NDC) is a not-for-profit organisation committed to inspiring and educating consumers on the real, rare and responsible values of natural diamonds and the positive global impact of the industry. Our Only Natural Diamonds platform is the authoritative publisher on all things natural diamonds including myth-busting facts, celebrities and pop culture, epic diamonds and jewellery trends, engagements and weddings, and diamond buying guides. In addition, we provide marketing, promotional, and educational services to brands, designers and retailers, encouraging them to amplify the values and integrity of natural diamonds. 

NDC is a global organisation whose members’ operations span four continents and 10 countries including Canada, South Africa and Botswana. Their operations support the livelihood of 10 million people worldwide.  

NDC operates out of offices in New York, Shanghai, Mumbai and Antwerp, with satellite teams in the UK and France. 

Source: DCLA

US Jeweler “Sold Lab Growns as Natural Diamonds”

A jeweler has been arrested in New Jersey, USA, over allegations that he misrepresented lab grown diamonds as natural.

Justin T. Wentzel, 43, owner of Ice Storm Jewelry, over-valued three items of diamond jewelry by as much as $23,800, according to local police.

A victim made a complaint in June and Wentzel was arrested on 7 August after he was asked to attend police headquarters.

“Mr. Wentzel was charged with theft by deception, criminal simulation, and falsifying or tampering with a record,” said Mount Olive Township Police Department, in a statement.

“Through the course of the investigation, it was determined that Mr. Wentzel sold lab grown diamonds as genuine diamonds and over valued the worth and price of the jewelry by as much as $23,800.”

Wetzel was released pending a court hearing.

Source: DCLA

Average US Engagement Ring Costs $6,750

The average price of a natural diamond engagement ring in the US last year was $6,750.

And the average size of the stone was 1.07 carats, according to a new report by the New York-based Natural Diamond Council.

It provides a detailed analysis of the shift to larger, higher quality diamonds in its downloadable 20-page Natural Diamond Trends: A 2024 Overview.

Round brilliants remain by far the most popular shapes in diamond jewelry, at 81.7 per cent, but that figure is slipping slightly. 

Among fancy shapes for all diamond jewelry, princess and cushion showed the biggest increases, albeit from a very low base (2.1 per cent and 1.0 per cent market share respectively).

The most common color for an engagement diamond was H and the most common clarity was SI1, with bridal representing 33 per cent of all natural diamond sales in the US. 

The average price of wedding sets increased 31 per cent in 2024, the report said.

“The increase was mainly due to a rise in the average size of diamonds and a notable change in the type of metal used.”

The average price of natural diamond jewelry sold across all product categories grew 2.7% to $2,360 in 2024.

The report, the latest in a series uncovering the trends, origins and impacts of natural diamonds, was jointly produced with Tenoris.

Source: IDEX

Positive Step to a $100m Natural Diamond Campaign

Key players have taken “a very important step in the right direction” to raising $100m for the long-term promotion of natural diamonds, according to Yoram Dvash, president of the World Federation of Diamond Bourses (WFDB).

He also said he was cautiously optimistic for the holiday season as prices had started to stabilize globally, inventories were reducing and De Beers and the World Diamond Council (WDC) had embarked on multimillion-dollar advertising campaigns.

Dvash (pictured) said trade bodies had reacted very positively o his call for a $100m marketing campaign after what he described as a “brainstorming session” at the Dubai Diamond Conference earlier this month.

The Antwerp World Diamond Council (AWDC) and India’s Gem & Jewellery Export Promotion Council (GJEPC), had agreed to start looking into funding campaigns by the Natural Diamond Council, he said, in collaboration with the WFDB, IDMA (International Diamond Manufacturers Association) and CIBJO (World Jewellery Confederation). More trade bodies are expected to follow suit.

Dvash said he’d called for the industry to unite behind a major and sustained marketing campaign over the next five years to create demand for natural diamonds some weeks ago, and had been pleased by their response.

“It seems that we have found the golden formula that would enable the industry to raise $100m for generic advertising of natural diamonds,” he said.

Earlier this month he said there hadn’t been a major generic marketing campaign for natural diamonds for almost 20 years, when De Beers halted its “A Diamond is Forever” promotion.

“An entire generation of consumers has come of age without having been exposed to promotional campaigns with positive messages about natural diamonds,” he said in a letter to all the WFDB’s 29 member bourses.

Source: DCLA

WFDB Call for Five-Year Marketing Campaign

The natural diamond industry needs coordinated and consistent marketing campaigns to counter declining demand, says Yoram Dvash, president of the World Federation of Diamond Bourses (WFDB).

In an open letter he calls on every member of the industry to help create a five-year plan, rather than relying on “short-term initiatives when the situation is particularly dire”.

He acknowledges that De Beers and the Natural Diamond Council are both spending millions of dollars on campaigns with leading retailers, but says it’s not enough.

“I am concerned that this is too little and too late,” he says. “To be successful, campaigns need to be coordinated and to be consistent throughout the year.”

He says there hasn’t been a major generic marketing campaign for natural diamonds for almost 20 years, when De Beers halted its “A Diamond is Forever” promotion.

“An entire generation of consumers has come of age without having been exposed to promotional campaigns with positive messages about natural diamonds,” he says in a letter to all the WFDB’s 29 member bourses.

Source: DCLA