Saudi Arabia Jewellery Market (2024-2030) | Value, Trends, Share, Size, Forecast, Analysis, Growth, Outlook, Companies, Revenue & Industry

Saudi Arabia Jewellery Market Synopsis

The jewelry market in Saudi Arabia is expected to witness a significant growth rate during the forecast period 2020-2026. The increasing disposable income, rising fashion consciousness among young population and availability of various international brands are the major factors driving the growth of this market. Moreover, there has been an emergence of modern retail formats such as e-commerce and malls which have driven sales opportunities for jewelry manufacturers in the country. Furthermore, changing trends towards branded ornaments with different designs also helped to drive up demand for jewelry products in Saudi Arabia.

Market Drivers

With economic improvements over recent years, consumers?? disposable income has seen a rise that has been accompanied by increased spending on luxury items including gold and diamond jewellery. This trend is likely to continue due to higher wages coupled with tax cuts announced by authorities across the region since 2018 that further boosts consumer purchasing power leading to increased expenditure on luxury goods like jewelry within Saudi Arabia. One of key reasons behind surge in demand for fashionable jewellery pieces is growing awareness about fashion amongst younger generation customers based out in Saudi Arabia which encourages them buy more stylish accessories like rings, necklaces etc., providing favorable conditions for expansion of regional jewellery industry.

Challenges of the Market

Fluctuation in prices associated with precious metals used while making jewellery hampers profitability margins related with production thereby leading companies limit their investments when it comes acquisition expensive raw materials required manufacture high quality products . Additionally , gold price volatility may have considerable effect on end user buying decisions thus impacting sales revenue generated from domesticjewelry sector.

Covid 19 Impact on the Market

COVID-19 pandemic caused worldwide disruption supply chain operations resulted closure brick mortar stores consequently causing decline overall performance global economy affecting domestic markets too primarily due lockdowns , travel restrictions imposed authorities prevent spread virus all these measures halted business activities manufacturing sectors resulting halt export import procedures temporarily hampering respective market progress adversely.

key players of the Market

Key players operating in the Saudi Arabia jewellery market include Damas Jewellery LLC, Malabar Gold & Diamonds, Al Manarah Jewelry Company Ltd., Joyallukkas Group, Amsterdam Sauer Group, Luk Fook Holdings International Limited (LFHI), Joyalukkas India Pvt Ltd., Apple Jewels and Gemstones LLC., Tanishq Retail Private Limited etc.

Key Highlights of the Report:

• Saudi Arabia Jewellery Market Outlook
• Market Size of Saudi Arabia Jewellery Market, 2023
• Forecast of Saudi Arabia Jewellery Market, 2030
• Historical Data and Forecast of Saudi Arabia Jewellery Revenues & Volume for the Period 2020-2030
• Saudi Arabia Jewellery Market Trend Evolution
• Saudi Arabia Jewellery Market Drivers and Challenges
• Saudi Arabia Jewellery Price Trends
• Saudi Arabia Jewellery Porter's Five Forces
• Saudi Arabia Jewellery Industry Life Cycle
• Historical Data and Forecast of Saudi Arabia Jewellery Market Revenues & Volume By Product for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Jewellery Market Revenues & Volume By Necklace for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Jewellery Market Revenues & Volume By Ring for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Jewellery Market Revenues & Volume By Earrings for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Jewellery Market Revenues & Volume By Bracelet for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Jewellery Market Revenues & Volume By Others for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Jewellery Market Revenues & Volume By Material for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Jewellery Market Revenues & Volume By Gold for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Jewellery Market Revenues & Volume By Platinum for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Jewellery Market Revenues & Volume By Diamond for the Period 2020-2030
• Historical Data and Forecast of Saudi Arabia Jewellery Market Revenues & Volume By Others for the Period 2020-2030
• Saudi Arabia Jewellery Import Export Trade Statistics
• Market Opportunity Assessment By Product
• Market Opportunity Assessment By Material
• Saudi Arabia Jewellery Top Companies Market Share
• Saudi Arabia Jewellery Competitive Benchmarking By Technical and Operational Parameters
• Saudi Arabia Jewellery Company Profiles
• Saudi Arabia Jewellery Key Strategic Recommendations