UAE Luxury Jewelry Market Size & Outlook, 2020-2028
UAE luxury jewelry market, 2016-2028 (US$M)
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UAE luxury jewelry market highlights
- The UAE luxury jewelry market generated a revenue of USD 555.1 million in 2020 and is expected to reach USD 1,003.8 million by 2028.
- The UAE market is expected to grow at a CAGR of 7.7% from 2021 to 2028.
- In terms of segment, gold was the largest revenue generating raw material in 2020.
- Gold is the most lucrative raw material segment registering the fastest growth during the forecast period.
Luxury jewelry market data book summary
| Market revenue in 2020 | USD 555.1 million |
| Market revenue in 2028 | USD 1,003.8 million |
| Growth rate | 7.7% (CAGR from 2020 to 2028) |
| Largest segment | Gold |
| Fastest growing segment | Gold |
| Historical data | 2016 - 2019 |
| Base year | 2020 |
| Forecast period | 2021 - 2028 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Gold, Platinum, Diamond, Gemstone, Precious Pearl |
| Key market players worldwide | Kering SA, The Swatch Group AG, Compagnie Financiere Richemont SA ADR, Lvmh Moet Hennessy Louis Vuitton SE, Signet Jewelers Ltd, Graff, Chopard International, Mikimoto, Pandora Jewelry Central Western Europe |
Other key industry trends
- In terms of revenue, UAE accounted for 6.8% of the global luxury jewelry market in 2020.
- Country-wise, UK is expected to lead the global market in terms of revenue in 2028.
- In Middle East & Africa, UAE luxury jewelry market is projected to lead the regional market in terms of revenue in 2028.
- UAE is the fastest growing regional market in Middle East & Africa and is projected to reach USD 1,003.8 million by 2028.
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Luxury Jewelry Market Scope
Luxury Jewelry Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
UAE luxury jewelry market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to luxury jewelry market will help companies and investors design strategic landscapes.
Gold was the largest segment with a revenue share of 48.23% in 2020. Horizon Databook has segmented the UAE luxury jewelry market based on gold, platinum, diamond, gemstone, precious pearl covering the revenue growth of each sub-segment from 2016 to 2028.
The UAE jewelry sector saw a slight increase in the number of customers after the ease of pandemic restrictions at the end of 2020; according to Gulf News, UAE recorded a 60 to 75% increase in sales in the last three months of 2020 as compared to the pre-COVID-19 era.
When it comes to luxury products, jewelry sales increased in the second quarter of 2020, where profits were backed by local customers, and due to the wedding season in Saudi Arabia, consumers are investing in luxury jewelry and brands are introducing new collections. Even though the jewelry segment accounted for only a 1%-increase in profit in 2020, it is expected to achieve value growth.
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Target buyers of UAE luxury jewelry market databook
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Our clientele includes a mix of luxury jewelry market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the UAE luxury jewelry market , including forecasts for subscribers. This country databook contains high-level insights into UAE luxury jewelry market from 2016 to 2028, including revenue numbers, major trends, and company profiles.
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UAE luxury jewelry market size, by raw material, 2016-2028 (US$M)
UAE Luxury Jewelry Market Outlook Share, 2020 & 2028 (US$M)
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