Investment Opportunities in GCC Jewelry Market: Industry Outlook & Projections

GCC Jewelry Market Overview

Market Size in 2024: USD 14.11 Billion

Market Size in 2033: USD 24.04 Billion

Market Growth Rate 2025-2033: 5.7%

According to IMARC Group's latest research publication, "GCC Jewelry Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2025-2033", the GCC jewelry market size was valued at USD 14.11 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 24.04 Billion by 2033, exhibiting a CAGR of 5.7% during 2025-2033.

How AI is Reshaping the Future of GCC Jewelry Market

• AI-Powered Virtual Try-Ons: Revolutionary virtual try-on technologies are transforming GCC jewelry retail, with companies reporting 50% increases in online engagement and customer satisfaction rates.
• Smart Customization Solutions: AI-driven design platforms enable personalized jewelry creation, allowing customers to visualize and customize pieces in real-time, enhancing the bespoke jewelry experience.
• Enhanced E-Commerce Experiences: Advanced AI algorithms optimize online jewelry shopping through personalized recommendations, 3D visualization, and augmented reality features, driving digital transformation.
• Predictive Analytics for Inventory: AI-powered demand forecasting helps jewelry retailers optimize inventory management, reducing waste and ensuring popular designs remain in stock during peak seasons.
• Automated Quality Control: Machine learning algorithms enhance quality assurance in jewelry manufacturing, detecting imperfections and ensuring consistent craftsmanship across production lines.

Grab a sample PDF of this report: https://www.imarcgroup.com/gcc-jewelry-market/requestsample

GCC Jewelry Market Trends & Drivers:

The GCC jewelry market is experiencing robust growth driven by several key factors. Rising disposable incomes across the region, with GDP surpassing USD 2 trillion in 2023, are fueling luxury spending on jewelry. The cultural significance of gold in weddings and festivals remains a cornerstone of market demand, with families investing heavily in traditional bridal adornments and ceremonial pieces. The region's thriving tourism sector, particularly Dubai's record 17.15 million international visitors in 2023, contributes significantly to jewelry sales through duty-free shopping experiences and competitive pricing.

The digital transformation of the jewelry retail landscape is reshaping consumer behavior across the GCC. E-commerce platforms featuring virtual try-ons and 3D visualization technologies are bridging the gap between physical and digital shopping experiences. The GCC e-commerce market's projected growth rate of 9.26% during 2024-2032 reflects the increasing adoption of online jewelry shopping, particularly among tech-savvy millennials and Gen Z consumers. International luxury brands are investing heavily in digital platforms and personalization tools to capture this growing segment.

Gold's dual appeal as both adornment and investment continues to drive market growth. According to the World Gold Council, the UAE's gold jewelry consumption reached 39.7 tonnes in 2023, while Saudi Arabia consumed 38 tonnes. The tradition of investing in gold as wealth preservation, combined with its cultural importance in GCC societies, ensures consistent demand. Additionally, growing interest in diamond jewelry, platinum pieces, and lab-grown diamonds reflects evolving consumer preferences toward luxury, exclusivity, and sustainable options across the region.

GCC Jewelry Industry Segmentation:

The report has segmented the market into the following categories:

Product Insights:

• Necklace
• Ring
• Earrings
• Bracelets
• Others

Material Insights:

• Gold
• Platinum
• Diamond
• Others

Country-wise Insights:

• Saudi Arabia
• UAE
• Qatar
• Bahrain
• Kuwait
• Oman

Ask analyst of customized report: https://www.imarcgroup.com/request?type=report&id=10230&flag=E

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Recent News and Developments in GCC Jewelry Market

• February 2025: Dubai's Gold Souk introduced blockchain authentication systems for high-value jewelry pieces, enhancing customer confidence and reducing counterfeit concerns while attracting 25% more international buyers during peak shopping seasons.
• March 2025: Saudi Arabia's Vision 2030 initiatives supported the launch of three new luxury jewelry manufacturing facilities in Riyadh, creating 1,200 jobs and reducing import dependency by 15% for premium gold ornaments.
• June 2025: Qatar's jewelry retailers reported 35% growth in lab-grown diamond sales, reflecting changing consumer preferences toward sustainable luxury options while maintaining traditional craftsmanship standards for ceremonial pieces.

Note: If you require specific details, data, or insights that are not currently included in the scope of this report, we are happy to accommodate your request. As part of our customization service, we will gather and provide the additional information you need, tailored to your specific requirements. Please let us know your exact needs, and we will ensure the report is updated accordingly to meet your expectations.

About Us:

IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

Contact Us:

IMARC Group

134 N 4th St., Brooklyn, NY 11249, USA

Email: [email protected]

Tel No:(D) +91 120 433 0800

United States: +1-201971-6302