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

Qatar Jewellery Market Highlights

Report Name	Qatar Jewellery Market
Base Year	2022
Historical Period	2019-2022
Forecast Period	2023-2029
Growth Rate	5.99%
Report Coverage	Revenues & Volume, Market Trends, Drivers & Challenges, Market Forecast, Market Share
Segment Coverage	By Product, By Material
Customization Scope	100% customized reports available along with reliable data. Moreover, you can alter the segments, countries, and regions according to your needs. For further details, you can contact our research expert at sales@6wresearch.com
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Topics Covered in Qatar Jewellery Market Report

Qatar Jewellery Market Report thoroughly covers the market by product and material. The 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.

Qatar Jewellery Market Synopsis

Qatar Jewellery Market is expected to grow in the forecast period The jewellery market in Qatar has witnessed significant growth over the years, driven by the country's high disposable income levels, a strong affinity for luxury goods, and a growing expatriate population. Qatar's strategic location as a global business and travel hub has also contributed to the expansion of its jewellery market. The market offers a diverse range of jewellery items, from traditional designs to contemporary and high-end luxury pieces. The Qatari jewellery market is characterized by its premium quality products, with a focus on precious metals and gemstones.

According to 6Wresearch, Qatar Jewellery Market size is expected to grow by 5.99%, resulting in a market volume of US$103.89m during 2023-2029. An increase in per capita income level coupled with growing fashion consciousness amongst consumers will propel the demand for luxury goods including high-end jewellery items which will drive significant growth of this market in Qatar over the forecast period. Increasing number of tourist arrivals from across all regions primarily India, China & Japan will boost exports as well as domestic sales of jewellery products leading to strong revenue generation opportunities from the tourism industry within the coming years thus driving the overall development of this sector in national economy over the years. Cultural significance also plays a pivotal role in the Qatar jewellery market's vitality. In Qatari society, jewellery is deeply rooted in tradition and heritage, often symbolizing wealth, status, and cultural identity. The exchange of ornate jewellery during traditional Qatari weddings is a notable example of this cultural significance, and such ceremonies further stimulate the demand for elaborate and intricately crafted pieces. There are certain challenges present in the market. The fluctuations in gold prices affect price competitiveness as well as profitability margin associated with selling jewels which results in reduced purchasing power among customers hence posing a major challenge towards sustenance & expansion plans put forth by companies operating within the Qatar jewelry sector. Another major challenge is competition from international luxury brands and retailers.  Qatar faces competition from established luxury markets in nearby countries.

Impact of COVID-19 on the Market

The COVID-19 pandemic had a profound impact on the jewellery market in Qatar, as. The measures implemented by the authorities to curb the spread of the virus, such as lockdowns, travel restrictions, and social distancing guidelines, significantly disrupted the operations of the market. One of the most immediate and noticeable effects was the decline of the physical presence of individuals in the jewellery stores. There were restrictions in place and a general reluctance to visit crowded places, consumers were less inclined to browse and make in-person purchases. This posed a considerable challenge to traditional jewellery stores that depend heavily on physical stores for sales of the product. The pandemic disrupted global supply chains which affected the availability of precious metals, gemstones, and other materials essential for the production of jewellery. Manufacturing delays and logistical issues caused shortages of certain jewellery items which led to a major drop in the Qatar Jewellery Market Share.

Key Players of the Market

The Qatar jewellery Industry has a combination of traditional and contemporary players. The market consists of renowned international luxury brands and local establishments. Key international players such as Cartier, Tiffany & Co., Bulgari, and Chopard have a notable presence in the market which attracts high-end clientele with their iconic designs and craftsmanship. Locally, Damas Jewellery, Jawhara Jewellery, and Al Majed Jewellery are noatable names, offering a diverse range of traditional and modern pieces. Souq Waqif Gold Souq in Doha is a bustling marketplace where numerous local jewellers showcase their craftsmanship, making it a significant hub for traditional Qatari jewellery. These key players collectively contribute to the vibrant and competitive landscape of the Qatar jewellery market.

Initiatives by the government in Qatar Jewellery Market

The government of Qatar has undertaken several initiatives to promote and support the growth of the jewellery market within the country. These initiatives include creating a favourable business environment for the jewellery industry through regulatory reforms and trade policies. Additionally, Qatar has focused on positioning itself as a regional luxury shopping destination, investing in infrastructure development, and hosting international events such as the Qatar International Jewellery and Watches Exhibition (DJWE). Furthermore, the government has encouraged the training and development of local talent in jewellery craftsmanship to preserve and promote Qatari heritage and skills. These efforts collectively aim to boost the jewellery sector's contribution to the country's economy and enhance its reputation as a global hub for luxury retail.

Market by product

On the basis of product, the necklace segment is expected to have a dominant share in the market as it is culturally significant in weddings and other celebrations in Qatar. The growth of the segment will lead to Qatar Jewellery Market growth and it will be entirely driven by the latest and innovative designs of the product and integration of the modern styles.

Market by Retail

According to Dhaval, Research Manager, 6Wresearch, gold jewellery has a prominent place in the market Qatari jewellery market due to its cultural significance and traditional value. The demand for gold will remain high and the growth of the segment will be driven by innovative designs and craftsmanship.

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:

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

• Gold
• Platinum
• Diamond
• Others