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Market Research Report

UAE Gems and Jewelry Market Size by Jewelry Type (Gold, Diamond, Gemstone, and Silver), by Category (Branded & Unbranded), by Distribution Channel with Forecast 2016-2024

Published On : 2018-02-15 Report Page : 180 Category: Consumer Retail

UAE Gems and Jewelry Market

Market Overview

The gems and jewelry market seems composed of a glittering future. Increased appetite of jewelry by the consumers was reduced because of recession but now it appears more ravenous than ever. This is most dynamic and fastest growing industry. The jewelry players will be left behind if they are not alert and responsive to the important trends and development. Government policies in UAE such as zero taxation and minimal duty on luxury products are the two major aspects which are fostering the growth of UAE gems and jewelry market.

Goldstein Research analyst forecast the UAE gems and jewelry market size is set to reach USD 70.10 billion by 2024, growing at a CAGR of 7.30% over the forecast period i.e. 2016 to 2024. Due to tax free policies and transfer pricing legalization, the demand for fine diamond jewelry in Dubai showcases green growth.

Covered In This UAE Gems and Jewelry Market Report              

The report covers the present ground scenario and the future growth prospects of the UAE gems and jewelry market for 2016-2024 along with data of branded and unbranded gems and jewelry. We calculated the market size and revenue share on the basis of revenue generated from major players across the globe. Moreover, we forecast the market landscape on the basis of current growth rate and various government reforms to minimize the tax on jewelry products.

UAE Gems and Jewelry Market Segmentation

By Jewelry Type

  • Gold Jewelry
  • Diamond Jewelry
  • Gemstones Jewelry
  • Silver Jewelry
  • Platinum Jewelry

By Category

  • Branded Gems And Jewelry
  • Unbranded Gems And Jewelry

By Distribution Channel

  • Exclusive Showrooms
  • Multi Branded Jewelry Showrooms
  • Online

Based on Geography

  • Dubai Gems And Jewelry Market Analysis, 2016-2024
  • Abu Dhabi Gems And Jewelry Market Analysis, 2016-2024
  • Sharjah Gems And Jewelry Market Analysis, 2016-2024
  • Rest of UAE (Al Ain, Ajman, Ras Al Khaimah, Fujairah and Umm al-Quwain) Gems And Jewelry Market Analysis, 2016-2024

On the basis of product type, gold jewelry held the largest market share of 46.4% of the overall UAE gems and jewelry market in 2016 and is likely to dominate the market throughout the forecast period due to the increase in demand for exclusive and designer jewelry. Gold is available in many variants from 18K to 24K, to ensure the needs of customers globally. Whereas, on the other hand diamond jewelry segment contributed the second largest market share of 31.2.0% in 2016 on the back of emergence of vintage jewelry. In addition, the diamond jewelry gives more margins to the retailers than the gold jewelry; this is one of the significant factors which push the retailers to offer diamond jewelry to the customers. 

UAE gems and jewelry market outlook 2016-2024, has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the UAE gems and jewelry market. The report also includes porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. UAE gems and jewelry market report also recognizes value chain analysis to understand the cost differentiation to provide competitive advantage to the existing and new entry players.

Our UAE gems and jewelry market report comprises of the following companies as the key players: Damas International, Swarovski, Joyallukas, Tiffany & Co., Cartier, Malabar Gold and Diamonds, Titan International, EVA Gems, DIMEXON, Kapu Gems, DAMIANI, The Gold and Diamond Park, The Gold Souk and Geetanjali Gems.

Other high-flying vendors in the market are: Ceylon Master Gems FZCO, Atlas Jewelry LLC, Pure Gold Jewellers LLC, Sky Jewellers LLC, DE BEERS and PANDORA etc.

According to our UAE gems and jewelry market study on the basis of extensive primary and secondary research, “the major trend is the recent merger and collaborations between jewelry players and apparel brands. The apparel industry is about ten times the size of the jewelry industry as measured in annual sales, but the average value in apparel (USD 14.25 billion) is almost 20 times that in jewelry (USD 0.8 billion). For instance, brands like ZARA, H&M, and Guess etc. are expanding their assortment in this sector as well.

According to the report, the major driver of the UAE gems and jewelry market is the internationalization and consolidation, the growth of branded products, a reconfigured channel landscape, “hybrid” consumption, and fast fashion. Due to increase in number of tourists visiting and purchasing gems and jewelry are driving the sales of UAE gems and jewelry market.

Further, the report states that the major challenge for the industry players is that the gems and jewelry industry is decaling as the consumers are more keen in buying the other luxury products like couture brands, designer clothes, smart-gadgets and travel sector. The lack of promotion of the gems and jewelry industry has led to a declining interest among the consumers.

Based on geography, Dubai leads the UAE gems and jewelry market by 52.0% market share as tourists find it cheaper than their home countries because of the less taxes and duties and its fine range of designing jewelries. Dubai exports its gems and jewelries to about 180 countries worldwide. However, Abu Dhabi gems and jewelry market is increasing steadily with a growth rate of 21.0% over the forecast period due to its clean and classic western to lavish, rich Arabian wedding jewelry designs. Middle East region is the leading center for the trade of gems and jewelry products.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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Key questions answered in this UAE Gems And jewelry Market Report

  • What is the total market size by 2024 and what would be the expected growth rate of market?
  • What is the revenue of UAE gems and jewelry market in 2015-16 and what would be the expected demand over the forecast period?
  • What are the key market trends?
  • What are the factors which are driving this market?
  • What are the major barriers to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities for the existing and entry level players?
  • What are the recent developments and business strategy of the key players?

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UAE Gems and Jewelry Market Size by Jewelry Type (Gold, Diamond, Gemstone, and Silver), by Category (Branded & Unbranded), by Distribution Channel with Forecast 2016-2024

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A complementary 2hrs free facility through which report buyers can interact with our pool of experienced analysts for any report related queries, clarifications or additional data requirements