Dubai to Continue its Dominance in UAE Gems and Jewelry Market through 2025
Increase in middle class population coupled
with changing lifestyle of the people to bolster UAE gems and jewelry market
growth through 2024
According to a recent report
published by TechSci research, “UAE
Gems and Jewelry Market By Type, By Sector, By Distribution Channel, By
Region, By Company, Competition, Forecast & Opportunities, 2025”, UAE gems
and jewelry market is projected to grow at a CAGR of around 8.34% during 2025 - 2029 on account of rising disposable income, increasing westernization and
aggressive marketing strategies adopted by various domestic and international players
in the country. Changing lifestyle preferences has led to increase in brand
consciousness and inclination of consumers towards western brands, which in
turn, is resulting in higher demand for exclusive designer jewelry across the
country. Moreover, increasing income levels and rising standard of living in
urban areas has shifted the mindset of consumers from savings to consumption,
thereby by leading to higher spending on lifestyle products, which in turn is
bolstering the gems and jewelry market growth in the UAE. Furthermore, the
traditional inclination of consumers towards investing into gems and jewelry is
also supporting growth in the UAE gems and jewelry market.
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In terms of type, the UAE
gems and jewelry market is categorized into gold, diamond in gold, gemstones,
diamond, silver and others. Among all the product types, gold accounted for a majority
share in the UAE gems and jewelry market in 2018, and the segment is predicted
to dominate the market throughout the forecast period as well. Rising
investments in gold by an increasing number of consumers is the major factor
driving the growth of the market in the country.
Taking into an account
geographical landscape of the UAE, the market for gems and jewelry in the country
is regionally categorized into Dubai, Abu Dhabi, Sharjah and others. Among these
regions, Dubai grabbed a majority share in the country’s gems and jewelry
market on the back of increasing disposable income of consumers and vast
presence of domestic as well as international players, which operate their exclusive
showrooms and multi-brand retail outlets in the region. Moreover, launch of
innovative and imported products, coupled with increasing exposure of consumers
to western culture is also positively influencing the growth of the market in
Dubai.
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“Gems and jewelry
market is surging in the UAE at a significant pace. Growing purchasing power,
rapid urbanization and rising young population coupled with changing consumer
preferences and inclination towards innovative products has increased the
demand for different types of jewelry such as diamond in gold jewelry and
platinum jewelry, across UAE, over the last few years. These developments are expected
to drive the market for gems and jewelry in the UAE during the forecast period.”
said, Mr. Karan Chechi Research Director with TechSci Research, a research-based
India management consulting firm.
“UAE Gems and Jewelry
Market By Type, By Sector, By Distribution Channel, By Region, By Company,
Competition, Forecast & Opportunities, 2025,” has evaluated the future
growth potential of the UAE gems and jewelry market and provides statistics and
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decision. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges and
opportunities in the UAE gems and jewelry market.
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TechSci Research
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Research is serving clients across 11 different industrial verticals. TechSci
Research specializes in research-based consulting assignments in high growth
and emerging markets, leading technologies and niche applications. Our
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