UAE Gold Jewelry Market By Product Type (Necklaces/Chains, Rings, Bracelets/Bangles, Earrings, Others), By End User (Male, Female), By Sales Channel (Jewelry Showrooms, Company Exclusive Showrooms, Online), By Region, Competition, Forecast & Opportunities, 2021-2031F

Forecast Period	2027-2031
Market Size (2025)	USD 2499.51 Million
CAGR (2026-2031)	7.79%
Fastest Growing Segment	Online
Largest Market	Dubai
Market Size (2031)	USD 3920.36 Million

Market Overview

The UAE Gold Jewelry Market will grow from USD 2499.51 Million in 2025 to USD 3920.36 Million by 2031 at a 7.79% CAGR. The UAE gold jewelry market encompasses the trade and retail of precious metal adornments, primarily characterizing items fabricated from 18-karat, 21-karat, and 22-karat gold intended for personal decoration and investment. The market’s fundamental growth is sustained by strong economic drivers, including the nation's high per capita income and the significant contribution of international tourism, particularly given Dubai’s status as a global hub for luxury shopping. Furthermore, deep-seated cultural traditions regarding gold ownership during weddings and religious festivals provide a consistent base of domestic demand, distinct from fleeting fashion trends.

However, the market faces a significant challenge in the form of volatile global gold prices, which can severely impact consumer purchasing power and sales volume during periods of rapid appreciation. This price sensitivity creates fluctuations in market performance as buyers delay acquisition. According to the World Gold Council, in the second quarter of 2025, gold jewelry demand in the UAE declined to 7.7 tonnes, marking a 16 percent decrease compared to the same period in the previous year. Such instability in raw material costs remains a critical hurdle to steady market expansion.

Key Market Drivers

Robust Inbound Tourism and Destination Retail acts as a primary catalyst for the market, capitalizing on the nation's reputation as a global luxury shopping destination. International visitors are consistently drawn to the region's tax-friendly retail environment and the extensive availability of high-purity adornments within airport duty-free zones and traditional souks. This constant influx of external spending power helps offset local economic fluctuations, effectively positioning gold jewelry as both a souvenir and a portable investment. According to TRBusiness, January 2025, in the 'Dubai Duty Free reports record-breaking annual sales for 2024' article, gold sales at Dubai Duty Free reached AED 779 million for the full year, underscoring the critical role of traveler consumption.

Strategic Government Initiatives and Pro-Trade Policies serve as the second major driver, fundamentally enhancing the sector's supply chain and redistribution capabilities. The implementation of bilateral agreements, such as the Comprehensive Economic Partnership Agreement (CEPA), has streamlined tariffs and logistics, thereby incentivizing the flow of precious metals and finished goods between the UAE and key partners like India. These regulatory frameworks ensure a diverse inventory for retailers while solidifying the country's status as a central trading hub. According to Middle East Briefing, April 2025, in the 'UAE-India CEPA at Three Years' report, India’s gem and jewelry exports to the UAE surged to US$ 8.04 billion in the fiscal year ending 2024, reflecting the policy's success in boosting trade volumes. Despite price challenges, this infrastructure supported the broader market; according to Gulf News, in 2025, the total gold jewelry demand in the UAE for the full year of 2024 settled at 34.7 tonnes.

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Key Market Challenges

The primary impediment to the sustained expansion of the UAE gold jewelry market is the persistent volatility of global gold prices. Since jewelry in this region is purchased not only for personal adornment but also as a significant financial investment, consumer demand is highly sensitive to fluctuations in raw material costs. When global gold valuations appreciate rapidly, the immediate affordability of heavyweight 18-karat to 22-karat items diminishes, directly eroding consumer purchasing power. This instability causes mass-market buyers and investors to adopt a cautious approach, often deferring transactions in anticipation of a price correction. Consequently, retailers face unpredictable sales cycles that disrupt consistent revenue growth.

This direct correlation between price escalation and volume contraction is evident in recent market performance metrics. High valuations effectively create a barrier to entry, leading to measurable declines in tonnage even during peak seasons. For instance, according to the World Gold Council, in the first quarter of 2025, gold jewelry demand in the UAE was recorded at 7.9 tonnes, reflecting suppressed appetite amidst elevated costs. This figure underscores how price instability functions as a recurring brake on the sector's development, countering the positive influence of high per capita income and tourism.

Key Market Trends

The rising demand for lightweight and minimalist gold collections represents a structural shift in consumer behavior, driven by the need to maintain affordability amidst high bullion prices. Buyers are increasingly pivoting from traditional, heavyweight bridal sets toward versatile 18-karat and lower-grammage items that suit daily wear and office environments. This transition allows consumers to preserve their purchasing frequency without exceeding budgets, effectively prioritizing practical usage over pure investment weight. The trend is substantively supported by the activity of existing market participants who are restructuring their holdings. According to Gulf News, December 2025, in the 'Dubai Gold Surge: Record Prices Reshape Consumer Buying in 2025' article, repeat customers, accounting for 40 to 45 percent of transactions, are primarily trading in older, heavier jewelry for newer, lighter designs, underscoring the market's decisive move toward functional, everyday luxury.

Concurrently, the market is witnessing the emergence of modern-heritage fusion designs, where retailers blend traditional Middle Eastern motifs with contemporary aesthetics to attract a younger, cosmopolitan demographic. This trend addresses the desire for cultural preservation while catering to modern fashion sensibilities, prompting major jewelers to launch specialized sub-brands and retail concepts. These collections often feature intricate local craftsmanship applied to sleek, modern silhouettes, thereby appealing to both expatriates and the local population. This strategic focus on cultural hybridization is driving tangible infrastructure expansion. According to UAE News 24/7, July 2025, in the 'Malabar Gold & Diamonds Unveils Mojawhraty by Malabar' article, the retailer inaugurated a dedicated concept with six new showrooms across the GCC, explicitly targeting this growing preference for jewelry that merges authentic Arabic heritage with modern design elements.

Segmental Insights

The Online sales channel is currently the fastest-growing segment in the UAE Gold Jewelry Market, driven by a distinct shift in consumer preference toward digital convenience. This expansion is supported by the nation's high internet penetration and a robust regulatory environment that guarantees the authenticity and purity of gold sold digitally, thereby fostering consumer trust. Shoppers are increasingly utilizing e-commerce platforms to compare competitive pricing and diverse designs without physical constraints. Consequently, established retailers are strengthening their digital infrastructure to accommodate this demand, leveraging secure payment gateways to facilitate high-value transactions for a tech-savvy demographic.

Regional Insights

Dubai maintains a dominant position in the UAE gold jewelry market due to its established trade infrastructure and substantial tourism inflows. The region benefits significantly from the strategic framework provided by the Dubai Multi Commodities Centre, which facilitates seamless import and re-export operations. Furthermore, the historic Dubai Gold Souk serves as a central retail destination that attracts consistent international demand. Supportive government initiatives, including value-added tax refund schemes for eligible tourists, further enhance the competitiveness of the local retail sector, ensuring Dubai remains the primary contributor to the national industry.

Recent Developments

• In December 2024, Damas Jewellery entered a strategic partnership with Floward, an online gifting platform, to enhance the luxury gifting market across the Gulf Cooperation Council (GCC). This collaboration allowed customers to pair premium jewelry pieces from the jeweler's high-end collections with flowers and other gifts available on the digital platform. The initiative was launched to strengthen the digital presence of the jewelry brand and offer a seamless shopping experience, starting in Saudi Arabia before expanding to other regional markets. The Chairman and CEO of Damas Jewellery noted that this alliance would broaden their reach and provide a unique, elevated service to a wider audience.
• In December 2024, Tanishq inaugurated its largest flagship boutique in the UAE, located in the prestigious Dubai Gold Souk Extension. Spanning 5,000 square feet, the new showroom was designed to offer an immersive shopping experience, featuring over 10,000 exquisite designs ranging from gold and diamonds to precious stones. The CEO of International Business at Titan Company Limited highlighted that this opening marked a significant milestone in the brand's global expansion, reinforcing its dedication to the dynamic regional market. The store aimed to cater to the high demand from both residents and international tourists in one of the world's most iconic jewelry destinations.
• In June 2024, Malabar Gold & Diamonds expanded its product portfolio with the launch of the 'Nuwa' diamond jewelry collection at an event in the UAE. The new line was designed to celebrate nature and the resilience of women, featuring intricate designs crafted with precision. During the unveiling, the Chairman of Malabar Group emphasized that the collection represented a tribute to grace and strength, aligning with the brand's commitment to offering artistic and meaningful jewelry. The collection was made available across the company's extensive retail network, catering to customers seeking sophisticated diamond pieces for special occasions.
• In June 2024, the Dubai Jewellery Group (DJG) launched its 'City of Gold Surprises' campaign as part of the Dubai Summer Surprises festival, aimed at boosting activity in the local gold and jewelry sector. The initiative involved over 55 jewelry brands and 130 participating outlets, offering customers exclusive deals and discounts on gold, diamond, and pearl jewelry. The Board Member and Chairperson of Marketing at DJG stated that the campaign was designed to celebrate the festive season and reinforce Dubai's status as a global shopping destination. Shoppers were also given the opportunity to win substantial prizes, with jewelry vouchers totaling AED 100,000 distributed to lucky winners.

Key Market Players

• Salem Al Shueibi Jewellery
• Damas Jewellery LLC
• Taiba Gold & Jewels Trading Co. (L.L.C.)
• La Marquise Diamonds & Watches DMCC
• Al Liali Jewellery LLC
• Pure Gold Jewellers LLC
• Sky Jewellery L.L.C
• Mahallati Jewellery LLC
• FK Jewellery DMCC
• Malabar Gold LLC

By Product Type	By End User	By Sales Channel	By Region
Necklaces/Chains Rings Bracelets/Bangles Earrings Others	Male Female	Jewelry Showrooms Company Exclusive Showrooms Online	Abu Dhabi Dubai Sharjah Rest of UAE

Report Scope:

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

• UAE Gold Jewelry Market, By Product Type:

• Necklaces/Chains
• Rings
• Bracelets/Bangles
• Earrings
• Others

• UAE Gold Jewelry Market, By End User:

• Male
• Female

• UAE Gold Jewelry Market, By Sales Channel:

• Jewelry Showrooms
• Company Exclusive Showrooms
• Online

• UAE Gold Jewelry Market, By Region:

• Abu Dhabi
• Dubai
• Sharjah
• Rest of UAE