UAE Jewelry Market Size & Outlook, 2023-2030
UAE jewelry market, 2017-2030 (US$M)
Related Markets
UAE jewelry market highlights
- The UAE jewelry market generated a revenue of USD 4,463.9 million in 2023 and is expected to reach USD 6,295.5 million by 2030.
- The UAE market is expected to grow at a CAGR of 5% 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 4,463.9 million |
| Market revenue in 2030 | USD 6,295.5 million |
| Growth rate | 5% (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, UAE accounted for 1.3% 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 37.25% in 2023. Horizon Databook has segmented the UAE jewelry market based on necklace, ring, earring, bracelet covering the revenue growth of each sub-segment from 2017 to 2030.
The growing demand for luxury jewelry in the United Arab Emirates (UAE) has been propelling the market growth over the last few years. Moreover, the rising per capita income, soaring e-commerce sales, shifting consumer perceptions and tastes drive the market growth.
In order to reach an newcustomer base across the nation, key industry participants are also continuously producing unique and premium products and expanding their product portfolios.
For instance, in May 2022, Dubai's DAMAC Group acquired de GRISOGONO, a Swiss jewelry brand, which filed for bankruptcy in early 2020. The company's aims to grow its business into the field of luxury and high-end fashion through this acquisition.
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Jewelry Market Scope
Jewelry Market Companies
| Name | Profile | # Employees | HQ | Website |
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UAE jewelry market size, by product, 2017-2030 (US$M)
UAE Jewelry Market Outlook Share, 2023 & 2030 (US$M)
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