Inside the Natural Diamond Council’s 2025 Trends Report

From rising average prices to Gen Z driven bespoke engagement rings, the latest data reveals why natural diamonds remain the ultimate emotional luxury.

In a marketplace increasingly shaped by replication and rapid consumption, rarity is reclaiming its power. The 2025 Diamond Trends Report released by the Natural Diamond Council presents compelling evidence that natural diamonds continue to command both emotional and economic value.

Published in partnership with Tenoris, the report analyses more than four million jewellery transactions across 2,500 speciality jewellers in the United States, offering one of the most comprehensive insights into contemporary consumer behaviour.

“India is the second-largest market for natural diamond jewellery, and demand is up 12% year-on-year, making it one of the fastest-growing markets globally. Across key markets, we are also seeing diamond demand grow 15–20% YoY for our retail partners. This sustained momentum underscores the continued love and relevance of natural diamonds.  Today, we are in an era of intentional luxury. For Gen Z, a diamond is no longer just a traditional symbol, it is a canvas for individuality. This desire for bespoke details and unique, fancy cuts proves that the modern consumer is looking for jewellery that feels as special as their own story. Furthermore, the rise in self-purchasing is transforming natural diamonds from occasional gifts into daily markers of self-worth. In a world of mass replication, the emotional resonance of a natural diamond remains untouchable precisely because it is finite. While technology can replicate the look, it cannot replicate the billion-year journey that gives a natural diamond its inherent meaning and prestige.”  – Richa Singh, Managing Director, Natural Diamond Council

 The findings signal resilience and sustained desirability. Speciality jeweller sales of natural diamonds rose by 2.1 percent in 2025, while the average price of natural diamond jewellery increased by 10 percent. In the language of luxury, this is not simply growth. It is affirmation.

The Emotion Economy

Natural diamonds remain deeply intertwined with life’s defining milestones. Valentine’s Day and Mother’s Day together accounted for 16 percent of annual natural diamond sales in 2025, reinforcing their role as heirloom worthy gifts that transcend trend cycles.

On Valentine’s Day alone, the average total carat weight sold was 0.59 carats, with round brilliant cuts emerging as the preferred choice. Non bridal rings led the category, reflecting a broader cultural shift toward self gifting and occasion driven purchases beyond engagement.

The Engagement Renaissance

Engagement jewellery continues to anchor the category, with 47 percent of couples in the United States getting engaged between November and February, according to insights referenced from The Knot. The round brilliant maintained its dominance, accounting for 62 percent of engagement ring sales.

Yet the marquise cut recorded a notable 12 percent year on year growth, propelled by celebrity influence and a renewed appetite for elongated, personalised silhouettes. The message is clear. Classic foundations endure, but individuality is increasingly prized.

The Gen Z and Millennial Effect

Younger consumers are redefining the codes of diamond luxury. Gen Z and Millennials now represent the majority of global diamond jewellery demand. Their purchasing decisions (for example: preference of coloured gemstones) are shaped less by convention and more by narrative, craftsmanship and self expression.

Data from the De Beers commissioned US Natural Diamond Tracker Study 2025, conducted by Ipsos, suggests continued momentum. More than 40 percent of women and 50 percent of men anticipate purchasing or receiving natural diamond jewellery within the next 24 months.

Amber Pepper, CEO of the Natural Diamond Council, encapsulates the shift succinctly, noting that in a world of replication and simulation, emotion is what makes natural diamonds irreplaceable.

Gold’s Strength With a Clear Divide

While consumer behaviour reflects emotional resonance, export data reveals structural strength across the broader jewellery ecosystem. Recent figures released by the Gem & Jewellery Export Promotion Council show a selective but strategic expansion in Jul to Sep 2025.

Gold jewellery exports rose 18.30 percent year on year to US$ 2.94 billion.  Lab grown diamond exports grew 3.24 percent to US$ 327.99 million, indicating stabilisation after a prolonged price correction cycle. Coloured gemstones recorded a marginal 2.18 percent decline, suggesting measured discretionary buying rather than structural weakness.

The outperformance of plain gold suggests rising demand for lightweight, price transparent designs, particularly in markets such as the UAE. Studded jewellery continues to grow, though at a steadier pace, reflecting measured buying patterns in diamond linked categories.Gold remains the anchor of exports, but consumer preference is clearly tilting toward simpler, design forward pieces.

Silver’s 37.84 Percent Surge: Why the Spike?

Silver jewellery emerged as the breakout performer, climbing to US$ 378.34 million. As gold prices strengthened, global buyers leaned into silver as an accessible luxury alternative. Contemporary design, competitive pricing, and stronger inventory planning helped drive exports. Rising silver bar imports also indicate that manufacturers are positioning for sustained demand rather than short term spikes.

Taken together, the data suggests a global consumer who is value conscious yet emotionally invested. Categories rooted in authenticity and milestone significance continue to command attention.

Lab Grown Diamonds Stabilise

Lab grown diamond exports reached US$ 327.99 million, marking moderate growth. After a prolonged phase of global price compression, the segment appears to be stabilising. Volumes remain active, though lower realisations continue to temper value growth. The category is clearly settling into a more structured and competitive phase.

Coloured Gemstones Pause

Coloured gemstones recorded a slight decline to US$ 139.90 million. The softness appears tactical rather than structural, reflecting cautious discretionary spending in certain markets.Overall, Q2 underscores a sector adapting intelligently to global demand shifts. Silver is gaining share, plain gold is accelerating and lab grown diamonds are stabilising. The mix signals resilience built on diversification rather than dependence.

If sustained, this rebalanced growth could define the trajectory for the remainder of the fiscal year.

Beyond Commodity

The report ultimately positions natural diamonds not as commodities, but as cultural artefacts. Rising prices alongside steady sales indicate that consumers are willing to invest in authenticity. Bespoke settings, distinctive cuts and meaningful storytelling are shaping the next chapter of diamond desirability.

In an era where luxury is increasingly defined by provenance and permanence, natural diamonds continue to offer both. The 2025 overview confirms what the industry has long understood. True rarity does not fade. It evolves.

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