UAE gems & jewelry market is expected to reach USD10.71 billion by 2027, growing at a CAGR of 6.53% during the forecast period. UAE gems & jewelry market is mainly driven by rising GDP, increasing per capita income, surging sales through e-commerce, changing consumer tastes and perception, etc. In addition, significant market participants are constantly releasing novel and premium products and increasing their product portfolios to reach an underserved consumer base across the country.

Furthermore, when customers' middle-income levels rise, their spending power improves, and fashion trends evolve, demand for gems and jewelry increases across the region. Moreover, the industry is facing substantial transformations, both in terms of customer behavior and technological advancements. This tendency is expected to continue to drive gem and jewelry market expansion during the projected period.

During the temporary lockdown phase in 2020, the COVID-19 pandemic harmed the gems and jewelry market in the UAE. Major manufacturers were forced to shut down, resulting in a reduction in sales all around the country. However, during the lockdown, the online channel had significant sales and is expected to continue growing during the forecast period. It is considered a safe option that reduces the danger of severe diseases from COVID-19 in people with chronic and other illnesses. As a result, many gems and jewelry companies are constantly devising new strategies to extend their customer base over the internet.

Luxurious materials, such as gold and silver, are widely regarded as symbols of wealth and status among families. Modern materials such as white gold, platinum, and rose gold are some of the modern designs and modern materials that are being quickly adopted in the UAE market, especially among the working female population looking for lighter and more comfortable jewelry for their daily wear. Diamonds and gemstones like rubies and others play an increasingly important role in changing fashion trends, especially among the upper-middle and upper-class.

Growing Demand for Branded Jewelry Drives the Market Growth

Due to the assurance of quality provided by these companies, demand for branded jewelry is growing. Furthermore, some jewelry companies have developed new brands in the last 5 to 6 years and are now looking to grow into new markets. To appeal to a wider audience, local firms in the UAE are cooperating with major fashion houses. Furthermore, travelers visiting the country expect trendy and fashionable jewelry, which firms provide based on their preferences and tastes. Market companies are also increasing their product portfolios and opening additional showrooms to grow their customer base across the country. For instance, in 2022, Malabar Gold & Diamonds launched six showrooms in the UAE, three in new Dubai Gold Souq extension project, one each in City Centre Al Zahia and Lulu Muweilah, Sharjah, and one in Crown Mall, Jebel Ali.

Rising Disposable Income Fueling the Market Growth

Rapid increase in family members' combined earnings results in more disposable income for consumers, greatly increasing purchasing power. As a result, an increasing number of consumers nowadays are not willing to compromise on product quality regardless of price. The UAE gems and jewelry sector is benefiting from such consumer behavior as a result of increased disposable income. Consumers' purchasing power has increased as disposable income levels have improved, resulting in higher living standards. Consumers are choosing branded gems and jewelry because of the hallmark and assurance of quality these brands provide, fueling the growth of the gems and jewelry market across the country.

Technology Upgradation by Industry Players Aiding Market Growth

As technology is continually improving, technical innovation has been a key engine of growth in the UAE gems and jewelry business in recent years. Several advanced technologies have been introduced to the jewelry production industry, including computer-aided design (CAD) and rapid prototyping (RP), laser, knitting and weaving, and electroforming. CAD and RP technologies are currently being used by leading jewelry producers. 3D jewelry models are created using CAD, and then fabricated using Computer-Aided Manufacturing (CAM) and Rapid Prototyping and Tooling Technology (RPT). The capacity to create and personalize goods using 3D design tools is also propelling the market forward. Direct metal printing, which eliminates the need for molds and other apparatus, is also achievable with 3D printing.


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Market Segmentation

The UAE Gems & Jewelry market is segmented based on type, distribution channel, organized vs. unorganized sector, region, and competitional landscape. The market is categorized by gold, diamond, gemstones, silver, and others based on type. Based on distribution channel, the market is further fragmented into Jewelry Showrooms, Company Exclusive Showrooms, and Online. The market is also segmented into Organized vs. Unorganized. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among Dubai, Abu Dhabi, Sharjah, and the Rest of UAE.

Company Profiles

Damas Jewellery LLC, Malabar Gold and Diamonds, Sky Jewellery LLC, Titan International (Middle East) FZE, Tiffany & Co., Kalyan Jewellers FZE, Joyalukkas Jewellery LLC, Pure Gold Jewelers LLC, Ceylon Master Gems FZCO, Atlas Jewellery LLC and others, are among the major market players in the gems & jewelry industry that led the market growth of the UAE gems & jewelry market.

Attribute

Details

Market Size Value in 2021

USD7.28 Billion

Revenue Forecast in 2027F

USD 10.71 Billion

Growth Rate

6.53%

Base Year

2021

Historical Years

2017 – 2020

Estimated Year

2022E

Forecast Period

2023F– 2027F

Quantitative Units

Revenue in USD Billion, and CAGR for 2017-2021 and 2022-2027F

Report Coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

·         Type

·         Distribution Channel

·         Organized Vs. Unorganized

·         Region

·         Company

Regional Scope

Dubai, Abu Dhabi, Sharjah and Rest of UAE

Key Companies Profiled

Damas Jewellery LLC, Malabar Gold and Diamonds, Sky Jewellery LLC, Titan International (Middle East) FZE, Tiffany & Co., Kalyan Jewellers FZE, Joyalukkas Jewellery LLC, Pure Gold Jewelers LLC, Ceylon Master Gems FZCO, Atlas Jewellery LLC, etc.

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and Purchase Options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

 

Report Scope:

In this report, UAE Gems & Jewelry market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • UAE Gems & Jewelry Market, By Type:
    • Gold
    • Diamond
    • Gemstones
    • Silver
    • Others
  • UAE Gems & Jewelry Market, By Distribution Channel:
    • Jewelry Showrooms
    • Company Exclusive Showrooms
    • Online
  • UAE Gems & Jewelry Market, By Organized Vs. Unorganized Sector:
    • Organized Sector
    • Unorganized Sector
  • UAE Gems & Jewelry Market, By Region:

o   Dubai

o   Abu Dhabi

o   Sharjah

o   Rest of UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in UAE Gems & Jewelry market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

In case you don’t find what you are looking for, please get in touch with our custom research team at [email protected]

1.    Product Overview

2.    Research Methodology

3.    Executive Summary

4.    Voice of Customer

4.1.  Brand Recall & Awareness

4.2.  Source of Knowledge/Information

4.3.  Customer Spending Pattern

4.4.  Factors Influencing Purchase Decisions

4.5.  Factors Influencing Brand Switching

5.    UAE Gems & Jewelry Market Outlook

5.1.  Market Size & Forecast

5.1.1.    By Value

5.2.  Market Share & Forecast

5.2.1.    By Type (Gold, Diamond, Gemstones, Silver and Others)

5.2.2.    By Distribution Channel (Jewelry Showrooms, Company Exclusive Showrooms and Online)

5.2.3.    By Organized Vs. Unorganized Sector

5.2.4.    By Region (Dubai, Abu Dhabi, Sharjah and Rest of UAE)

5.2.5.    By Company (2021)

5.3.  Market Map (Type, Distribution Channel, Organized Vs, Unorganized Sector, Region)

6.    UAE Gold Jewelry Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value

6.2.  Market Share & Forecast

6.2.1.    By Application (Investment Vs. Personal Use)

6.2.2.    By Company

7.    UAE Diamond Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.    By Company

8.    UAE Gemstones Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.    By Company

9.    UAE Silver Jewelry Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.    By Company

10.  Import Export Analysis

11.  Supply Chain Analysis

12.  Market Dynamics

12.1.             Market Drivers

12.2.             Market Challenges

13.  Market Trends and Developments

14.  Policy & Regulatory Landscape

15.  Impact of COVID-19 on UAE Gems & Jewelry Market

16.  UAE Economic Profile

17.  Competitive Landscape

17.1.             Damas Jewellery LLC

17.2.             Malabar Gold and Diamonds

17.3.             Sky Jewellery LLC

17.4.             Titan International (Middle East) FZE

17.5.             Tiffany & Co.

17.6.             Kalyan Jewellers FZE

17.7.             Joyalukkas Jewellery LLC

17.8.             Pure Gold Jewelers LLC

17.9.             Ceylon Master Gems FZCO

17.10.           Atlas Jewellery LLC

18.  Strategic Recommendations

In case you don’t find what you are looking for, please get in touch with our custom research team at [email protected]
  • Figure 1: UAE Gems and Jewelry Market Size, By Value (USD Billion), 2017-2027F

    Figure 2: UAE Gems and Jewelry Market Share, By Type, By Value, 2017-2027F

    Figure 3: UAE Gems and Jewelry Market Share, By Distribution Channel, By Value, 2017-2027F

    Figure 4: UAE Gems and Jewelry Market Share, By Organized Vs. Unorganized, By Value, 2017-2027F

    Figure 5: UAE Gems and Jewelry Market Share, By Region, By Value, 2017-2027F

    Figure 6: UAE Gems and Jewelry Market Share, By Company, By Value, 2021

    Figure 7: UAE Gems and Jewelry Market Map, By Type, Market Size, By Value (USD Billion) & Growth Rate (%), 2021

    Figure 8: UAE Gems and Jewelry Market Map, By Distribution Channel, Market Size, By Value (USD Billion) & Growth Rate (%), 2021

    Figure 9: UAE Gems and Jewelry Market Map, By Organized Vs. Unorganized, Market Size, By Value (USD Billion) & Growth Rate (%), 2021

    Figure 10: UAE Gems and Jewelry Market Map, By Region, Market Size, By Value (USD Billion) & Growth Rate (%), 2021

    Figure 11: UAE Gold Jewelry Market Size, By Value (USD Billion), 2017-2027F

    Figure 12: UAE Gross National Income Per Capita (USD), 2015-2019

    Figure 13: UAE Gems and Jewelry Market Share, By Application, By Value, 2017-2027F

    Figure 14: UAE Gold Jewelry Market Share, By Company, By Value, 2021

    Figure 15: UAE Diamond Market Size, By Value (USD Billion), 2017-2027F

    Figure 16: UAE Urban Population as a Percentage of Total Population (%), (2015-2019)

    Figure 17: UAE Diamond Market Share, By Company, By Value, 2021

    Figure 18: UAE Gemstones Market Size, By Value (USD Billion), 2017-2027F

    Figure 19: UAE Female Population (In Million), 2015-2019

    Figure 20: UAE Gemstones Market Share, By Company, By Value, 2021

    Figure 21: UAE Silver Jewelry Market Size, By Value (USD Billion), 2017-2027F

    Figure 22: UAE Male Population (In Million), 2015-2019

    Figure 23: UAE Silver Jewelry Market Share, By Company, By Value, 2021

    Figure 24: UAE Gems and Jewelry Imports, By Value, 2016-2020 (USD Billion)

    Figure 25: UAE Gems and Jewelry Exports, By Value, 2016-2020 (USD Billion)