UAE Luxury Goods Market Size, Demand & Growth opportunity, Trends, Share, Industry Analysis, Regional Outlook & Opportunity Assessment With Forecast 2017-2025

Market Overview

The United Arab Emirates is one of the most opportunistic luxury goods markets in the Middle East region and the major brands see this country as the key long-term entry market. Although the rate at which brands entered the luxury goods market or expanded their stores in the region in the past few years has slowed down, extreme competition remains within the tight market and amongst existing players. The huge travel and tourism industry is still a great growth opportunity for the luxury goods market in the UAE. The UAE is one of the largest shopping destinations in the Middle East not only owing to its big population and tourism, but also to its approach of becoming a global hub for the luxury goods industry.

Goldstein Research analyst forecast the UAE luxury goods market to expand at a CAGR of 7.1% during the forecast period 2017-2025. Moreover, the market is projected to reach USD 7.8 Billion by 2025 owing to rapid urbanization and development of shopping centers and malls in order to expand their tourism industry and the; government aims to develop UAE as one of the biggest shopping destinations across the globe.

UAE Luxury Goods Industry Segmentation

By Product Type

• Designer Apparel and Footwear
• Accessories
• Jewelry
• Cosmetic and Beauty Products
• Fine wine & Spirits
• Others (Electric Gadgets etc.)

By Demography

• Men
• Women

By Distribution Channels

• Online Channel
• Offline Channels (Flagship Stores Etc.)

Based on distribution Channels, offline distribution channels accounted for the lion market share of more than 88% of the UAE luxury goods market in 2017. Further, online sales are expected to be the fastest-growing segment at a CAGR of +20.4% during the forecast period.

UAE Luxury Goods Market - Industry Trends, Demand & Challenges

UAE Luxury Goods Market Outlook 2017-2025, has been prepared based on in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the UAE luxury goods market. The report also includes porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. UAE luxury goods market report also recognizes value chain analysis to understand the cost differentiation to provide a competitive advantage to the existing and new entry players.

According to our UAE luxury goods market study on the basis of extensive primary and secondary research, one major trend in the market is the growing knowledgeable and inquisitive consumer population in Middle East. As verified by the vast demand for designer brand sales in UAE, consumers now pay more attention to worth, rather than just the brand or product itself.

According to the report, a major driver in UAE luxury goods market is the high disposable income of people in the region especially in GCC countries, where countries such as UAE and Saudi Arabia having the largest population and a considerable number of tourists significantly augmented the growth of luxury goods industry in the region. Moreover, rapid urbanization and growth of shopping centers and malls played an essential role in changes of shopping habits in these developing countries.

Further, the report states that one challenge in the UAE luxury goods market is intensified competition among market players. The luxury good market is in a constant state of instability, as consumer spending habits varies in line with fashion and economic circumstance. The customers are also less loyal due to the diversity of choices they have in the market, which poses a major challenge for the market players.

Covered in This - UAE Luxury Goods Market Report

The report covers the present ground scenario and the future growth prospects of the luxury goods market for 2017-2025 along with the market players’ analysis. We calculated the market size and revenue share on the basis of revenue generated from major players in the UAE region. UAE luxury goods market is forecasted on the basis of revenue analysis, product benchmarking and strategic developments of key market players.

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.

Our UAE Luxury Goods market report comprises of the following companies as the key players in the UAE luxury goods market: Rolex SA, Prada Group, Burberry Group plc, L’ORÉAL, SHISEIDO, ESTÉE LAUDER, LVMH, Coty, Chanel, Dior, Guerlain, Clarins, Clinique, Lancôme, Beiersdorf, Kering SA, The Swatch Group Ltd., Ralph Lauren Corporation and Hermes International Group.

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Key questions answered in this UAE luxury goods market report

• What is the total market size by 2025 and what would be the expected growth rate of sales?
• What is the total revenue per segment and region in 2016-17 and what would be the expected revenue per segment and region 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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