Saudi Arabia Jewelry Market Size & Outlook, 2023-2030
Saudi Arabia jewelry market, 2017-2030 (US$M)
Related Markets
Saudi Arabia jewelry market highlights
- The Saudi Arabia jewelry market generated a revenue of USD 5,673.0 million in 2023 and is expected to reach USD 7,805.8 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 4.7% 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.
Jewelry market data book summary
| Market revenue in 2023 | USD 5,673.0 million |
| Market revenue in 2030 | USD 7,805.8 million |
| Growth rate | 4.7% (CAGR from 2023 to 2030) |
| Largest segment | Ring |
| Fastest growing segment | Ring |
| Historical data | 2017 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Saudi Arabia accounted for 1.6% of the global jewelry market in 2023.
- Country-wise, India is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, Saudi Arabia jewelry market is projected to lead the regional market in terms of revenue in 2030.
- UAE is the fastest growing regional market in Middle East & Africa and is projected to reach USD 6,295.5 million by 2030.
Ring was the largest segment with a revenue share of 36.11% in 2023. Horizon Databook has segmented the Saudi Arabia jewelry market based on necklace, ring, earring, bracelet covering the revenue growth of each sub-segment from 2017 to 2030.
The Saudi Arabia jewelry market accounted for significant share of the Middle East & Africa market in 2021. The presence of numerous international jewelry shows and exhibitions featuring a preview of jewelry designs play a role in providing a range of high-quality jewelry in the country.
Events such as Jewellery Salon and SAIB World Luxury Expo, which feature a wide range of luxury and premium jewelry, have been gaining traction. In addition, increasing per capita disposable income and growing use of 3D printing in jewelry are among the prominent factors driving the market.
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Jewelry Market Scope
Jewelry Market Companies
| Name | Profile | # Employees | HQ | Website |
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Saudi Arabia jewelry market size, by product, 2017-2030 (US$M)
Saudi Arabia Jewelry Market Outlook Share, 2023 & 2030 (US$M)
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