UAE Jewellery Market (2023-2029) | Industry, Analysis, Trends, Outlook, Share, Size, Companies, Revenue, COVID-19 IMPACT, Growth, Forecast & Value

Topics Covered in the United Arab Emirates (UAE) Jewellery Market

United Arab Emirates (UAE) Jewellery Market report thoroughly covers the market by product and by material. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

United Arab Emirates (UAE) Jewellery Market Synopsis

The United Arab Emirates (UAE) is a paradise of luxury, style, and glamourous events. It is a hub for the world's finest fashion brands, and it reflects in the country's jewellery market. The UAE jewellery market is booming, driven by increasing consumer disposable income, tourism, and rising fashion consciousness. Jewellery has been an essential part of the UAE culture and heritage, and it is evident in the exquisite designs and craftsmanship of Emirati Jewellery.

According to 6Wresearch, the United Arab Emirates (UAE) Jewellery Market size is estimated to grow at a CAGR of 6.9% during the forecast period 2023-2029. The jewellery market in UAE is being driven by multiple factors including its geographic location as a global commercial hub, presence of several international jewellery brands like Cartier and Tiffany, and a robust tourist industry. The government's push for economic diversification through the promotion of tourism has helped improve the retail environment and boost the jewellery sector. However, the United Arab Emirates (UAE) Jewellery industry has several ongoing challenges. Government restrictions on imports and the rise in the cost of precious metals and stones, have made production and trading expensive.

Moreover, as the country gears towards sustainable tourism, the industry must reduce its carbon footprint, and adopt eco-friendly practices. Finally, the rise of e-commerce and counterfeit jewellery products make it difficult for traditional brick-and-mortar stores to attract and retain customers. However, trends are shaping the market growth. One such is shift from the traditional gold and diamond to customised and contemporary pieces made from new materials such as titanium, ceramic, and stainless steel. Another interesting trend is the rise of “halal jewellery” - jewellery made with permissible materials. The trend caters to the Muslim market who seek religiously compliant products. Finally, with the pandemic creating an appetite for virtual shopping, the UAE jewellery industry has seen a rise in online shopping among its consumers.

Government Initiatives introduced in the United Arab Emirates (UAE) Jewellery Market

The UAE government has been proactive in promoting its jewellery industry and encouraging foreign investment. The Dubai Multi Commodity Centre (DMCC) has played a vital role, offering various incentives to traders, manufacturers, and retailers to set shop in Dubai. The DMCC also provides a platform for buyers and sellers to connect and facilitate trade. These are favourable policies & programmes are supporting the market growth and increasing the United Arab Emirates (UAE) Jewellery share.

Key Players in the United Arab Emirates (UAE) Jewellery Market

The UAE jewellery industry has several leading players, ranging from traditional, family-owned brands to international luxury labels. Tanishq, Joyalukkas, Christ Jewellers, Cartier and Tiffany are some of the leading brands that have captured sizeable market share in UAE. However, other players such as Chopard, Graff, and Swarovski are also competing actively for market share.

Market Analysis by Material

According to Dhaval, Research Manager, 6Wresearch, the gold is the only material that has proven to be the only one showing consistent growth. As the gold has been the traditional jwellery that are used and estimated to be used in the coming years.

Key attractiveness of the report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022.
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• United Arab Emirates (UAE) Jewellery Market Outlook
• Market Size of United Arab Emirates (UAE) Jewellery Market, 2022
• Forecast of United Arab Emirates (UAE) Jewellery Market, 2029
• Historical Data and Forecast of United Arab Emirates (UAE) Jewellery Revenues & Volume for the Period 2019 - 2029
• United Arab Emirates (UAE) Jewellery Market Trend Evolution
• United Arab Emirates (UAE) Jewellery Market Drivers and Challenges
• United Arab Emirates (UAE) Jewellery Price Trends
• United Arab Emirates (UAE) Jewellery Porter's Five Forces
• United Arab Emirates (UAE) Jewellery Industry Life Cycle
• Historical Data and Forecast of United Arab Emirates (UAE) Jewellery Market Revenues & Volume By Product for the Period 2019 - 2029
• Historical Data and Forecast of United Arab Emirates (UAE) Jewellery Market Revenues & Volume By Necklace for the Period 2019 - 2029
• Historical Data and Forecast of United Arab Emirates (UAE) Jewellery Market Revenues & Volume By Ring for the Period 2019 - 2029
• Historical Data and Forecast of United Arab Emirates (UAE) Jewellery Market Revenues & Volume By Earrings for the Period 2019 - 2029
• Historical Data and Forecast of United Arab Emirates (UAE) Jewellery Market Revenues & Volume By Bracelet for the Period 2019 - 2029
• Historical Data and Forecast of United Arab Emirates (UAE) Jewellery Market Revenues & Volume By Others for the Period 2019 - 2029
• Historical Data and Forecast of United Arab Emirates (UAE) Jewellery Market Revenues & Volume By Material for the Period 2019 - 2029
• Historical Data and Forecast of United Arab Emirates (UAE) Jewellery Market Revenues & Volume By Gold for the Period 2019 - 2029
• Historical Data and Forecast of United Arab Emirates (UAE) Jewellery Market Revenues & Volume By Platinum for the Period 2019 - 2029
• Historical Data and Forecast of United Arab Emirates (UAE) Jewellery Market Revenues & Volume By Diamond for the Period 2019 - 2029
• Historical Data and Forecast of United Arab Emirates (UAE) Jewellery Market Revenues & Volume By Others for the Period 2019 - 2029
• United Arab Emirates (UAE) Jewellery Import Export Trade Statistics
• Market Opportunity Assessment By Product
• Market Opportunity Assessment By Material
• United Arab Emirates (UAE) Jewellery Top Companies Market Share
• United Arab Emirates (UAE) Jewellery Competitive Benchmarking By Technical and Operational Parameters
• United Arab Emirates (UAE) Jewellery Company Profiles
• United Arab Emirates (UAE) Jewellery Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Product

• Necklace
• Ring
• Earrings
• Bracelet
• Others

By Material

• Gold
• Platinum
• Diamond
• Others