Middle East & Africa Jewelry Market Size & Outlook
Middle East & Africa jewelry market, 2017-2030 (US$M)
Related Markets
MEA jewelry market highlights
- The MEA jewelry market generated a revenue of USD 19,041.0 million in 2023.
- The market is expected to grow at a CAGR of 4.1% from 2024 to 2030.
- In terms of segment, ring was the largest revenue generating product in 2023.
- Ring is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, UAE is expected to register the highest CAGR from 2024 to 2030.
MEA data book summary
| Market revenue in 2023 | USD 19,041.0 million |
| Market revenue in 2030 | USD 25,171.9 million |
| Growth rate | 4.1% (CAGR from 2023 to 2030) |
| Largest segment | Ring |
| Fastest growing segment | Ring |
| Historical data covered | 2017 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Necklace, Ring, Earring, Bracelet |
| Key market players worldwide | Lvmh Moet Hennessy Louis Vuitton SE, Pandora A/S, Chow Tai Fook Jewellery Group Ltd, Compagnie Financiere Richemont SA Class A, Graff, Signet Jewelers Ltd, Malabar Gold and Diamonds |
Other key industry trends
- In terms of revenue, MEA region accounted for 5.4% of the global jewelry market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 296,276.5 million by 2030.
Ring was the largest segment with a revenue share of 36.64% in 2023. Horizon Databook has segmented the Middle East & Africa jewelry market based on necklace, ring, earring, bracelet covering the revenue growth of each sub-segment from 2017 to 2030.
The Middle East & Africa market accounts for a significant revenue share of the global jewelry market. The Middle East hosts numerous jewelry exhibitions and trade shows every year, which is expected to positively impact the market. Some of these events include Doha Jewelry & Watches Exhibition 2020, which was scheduled from February 24, 2020 to February 26, 2020 in Qatar.
Similarly, annual and biannual events, such as Jewelry Salon – Jeddah, Jewelry Salon – Riyadh, and Watch & Jewelry Middle East Show, have increased product visibility among consumers, which is expected to drive the demand for jewelry in the coming years.
Growing preference for precious metal rings such as gold and platinum rings for engagement and wedding ceremonies in countries such as Tunisia, Qatar, and Saudi Arabia is expected to boost the demand for rings in the region. In addition, women in this region favor fashion trends such as make up and jewelry.
Key Regions: UAE , U.S. , UK , Brazil , Saudi Arabia
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Jewelry Market Scope
Jewelry Market Companies
| Name | Profile | # Employees | HQ | Website |
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MEA jewelry market size, by country, 2017-2030 (US$M)
Middle East & Africa Jewelry Market Outlook Share, 2023 & 2030 (US$M)
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