The Way Forward for Natural Diamonds

National Jeweler: Natural diamonds are facing a defining moment as lab-grown continues to gain market share, particularly among Gen Z consumers who are prioritizing size, price and practicality over tradition.

In this feature for National Jeweler’s 2026 State of the Majors issue, Avi explores how the natural diamond industry is reassessing its identity amid shifting consumer behavior, shrinking discretionary spending and the growing appeal of experiences over products. The article examines how retailers, brands and miners are responding to the challenge through storytelling, luxury positioning and renewed efforts to differentiate natural diamonds from their synthetic counterparts.

The story also highlights a deeper structural shift taking place across the jewelry market.

Rather than a broad recovery, the market is becoming increasingly segmented, with affluent consumers continuing to spend on larger, higher-value natural diamonds while the traditional mid-market bridal segment migrates toward lab-grown. Industry leaders from De Beers Group, Hearts On Fire and across the trade argue that the future of natural diamonds depends less on competing on price and more on reconnecting consumers with emotion, rarity, heritage and authenticity.

Read the article: State of Diamonds: The Way Forward for Natural Diamonds

Explore the full report: State of the Majors | 2026

Image: Jewelry from the De Beers Desert Diamonds campaign. (Credit: De Beers / A Diamond is Forever).