Saudi Arabia Fashion Market to Grow with a CAGR of 5.07% through 2030
Saudi Arabia's fashion market is
experiencing rapid growth, driven by increasing consumer demand for both local
and international brands as well as modern retail trends, youth influence, and
e-commerce are shaping the market's evolution
According
to TechSci Research report, “Saudi Arabia Fashion Market – By Region, Competition,
Forecast & Opportunities, 2030F”, the
Saudi Arabia Fashion market stood at USD 4.25 billion in 2024 and is
anticipated to grow USD 5.70 billion by 2030 with a CAGR 5.07% during forecast
period. The Saudi Arabia fashion market has witnessed dynamic growth, fueled by
evolving consumer preferences, cultural shifts, and advancements in digital
retail platforms. The Kingdom's strategic focus on economic diversification
through Vision 2030 has significantly impacted the fashion industry,
encouraging investments in retail infrastructure and promoting the inclusion of
local and international fashion brands. As the younger generation increasingly
embraces global fashion trends, the market is becoming a vibrant hub for
innovation and style, creating ample opportunities for growth and
transformation.
Sustainability has become an
increasingly important trend in the Saudi fashion landscape. As environmental
awareness grows among consumers, brands are shifting towards eco-friendly
practices, offering sustainable and ethically sourced products. From using
organic materials to adopting circular fashion models, companies are aligning
with the global movement toward more responsible fashion. The government has
also introduced initiatives to encourage sustainable retail practices, further
emphasizing the Kingdom's commitment to environmental stewardship.
Luxury fashion continues to thrive in
Saudi Arabia, driven by a high-income population and a penchant for premium
brands. International fashion houses have expanded their footprint in the
Kingdom, with flagship stores opening in major cities like Riyadh, Jeddah, and
Dammam. Events such as the Riyadh Season and the Jeddah Summer Festival have
become essential platforms for luxury brands to showcase their collections,
attracting affluent consumers seeking exclusive fashion experiences. The
influence of social media and celebrity endorsements has further fueled the
demand for luxury fashion, creating a dynamic retail environment.
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" Saudi Arabia Fashion Market”
The Saudi Arabia
Fashion market is segmented into product type, distribution channel, regional
distribution, and company.
Based on the distribution
channel, the online segment is the fastest growing in the Saudi Arabia fashion
market, driven by increasing internet penetration, smartphone usage, and
digital payment adoption. E-commerce platforms such as Namshi, Shein, Noon, and
Ounass have gained significant traction by offering a wide variety of fashion
products and seamless shopping experiences. The growing preference for online
shopping, fueled by convenience, exclusive offers, and quick delivery options,
has accelerated this trend. Additionally, cross-border e-commerce and social
media-driven purchases have contributed to the segment's rapid expansion. The
continued investment in digital infrastructure is expected to further solidify
the growth of the online fashion market.
Based on region,
the Western fashion segment is the fastest growing in the Saudi Arabia fashion
market, driven by the younger generation's increasing interest in global
trends. As international brands and influencers gain prominence, Saudi
consumers are embracing Western styles, including casual wear, athleisure, and
high-end luxury. This shift is supported by the rise of e-commerce platforms
that offer a wide selection of Western fashion brands, making them more
accessible. Additionally, the cultural shift toward modernity and a more
relaxed approach to fashion has fueled demand for Western-inspired clothing. As
a result, Western fashion is becoming a dominant influence in Saudi fashion.
Major companies
operating in Saudi Arabia Fashion market are:
- Middle
East – Fad International Co. (femi9)
- Majid
Al Futtaim Holding LLC
- Apparel
Group
- Alyasra
Fashion
- Almutlaq
Group
- Rubaiyat
Modern Luxury Products Company Ltd.
- Nysaa
Trading LLC
- AlWahida
Equipment Co. Ltd (Zara)
- Sun
and Sand Sports LLC (Nike)
- Landmark
Arabia Co. (Max Fashion)
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“The
key drivers of the Saudi Arabian fashion market is the growing demand for
modest fashion. As a predominantly Muslim country, modest wear remains a staple
in consumer wardrobes. However, contemporary interpretations of modest fashion
have emerged, blending traditional elements with modern designs to cater to the
style-conscious younger demographic. International and local brands are keen to
capture this segment by offering diverse collections that align with cultural
values while incorporating global trends. This shift has also given rise to
several emerging designers who are redefining fashion in Saudi Arabia by
merging tradition with innovation”, said Mr. Karan Chechi, Research Director of
TechSci Research, a research-based management consulting firm.
"Saudi Arabia Fashion
Market, By Product Type (Apparel, Footwear, Accessories), By Distribution
Channel (Offline, Online), By Region, Competition, Forecast &
Opportunities, 2020-2030F”, has evaluated the future growth potential of Saudi
Arabia Fashion market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the Saudi Arabia Fashion market.
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