GCC Luxury Market by Type (Travels and Hotels, Cars, Personal Luxury Goods, Food and Drinks and Others) by Gender (Male and Female) by Distribution Channel (Mono-Brand Stores, Multi-Brand Stores, Online Stores and Others): Industry Analysis, Trends, Growth and Forecast 2023-2028

GCC Luxury Market Overview:

The GCC luxury market was worth US$ XX Billion in 2022, expanding at a CAGR of X% during 2017-2022. Looking forward, the market is projected to grow at a CAGR of around X% during 2023-2028, reaching a value of US$ XX Billion by 2028. Luxury goods refer to premium or high-end products available in the market. These products display high-income elasticity of demand, wherein investment in luxury goods is directly proportional to the income of individuals. Luxury items include private yachts, jewelry, designer handbags, exclusive fashion apparel, premier watches, and high-end automobile. In the GCC region, the luxury market is gaining traction due to the rising economic growth and a large segment of the young population.

One of the primary factors driving the market is the rapidly growing population in the region. Additionally, the increasing penetration of social media and the e-commerce industry in the region is creating a positive market outlook. Other than this, the exponentially growing tourism sector, especially in the UAE, has escalated the demand for luxury items. Besides this, the introduction of technology-embedded products is another major growth-inducing factor. In line with this, on account of the rising environmental consciousness amongst the masses, luxury business owners are becoming more inclined toward sustainable products while focusing on producing products using eco-friendly raw materials. This, along with the rising consciousness regarding personal appearance amongst the masses, is accelerating the adoption of luxury products in the GCC countries. Furthermore, key players are adopting numerous innovative and creative advertising and marketing techniques to attract consumers. They are also focusing on a different segment of consumers, High-Earners-Not-Rich-Yet (HENRY), as they are expected to become highly relevant to the market in the coming years. Moreover, the promotion of luxury products by eminent personalities and celebrities and extensive investment in the research and development (R&D) activities by market players to introduce innovative product variants to expand the consumer base and gain a competitive edge in the market is creating lucrative growth opportunities for the key players operating in the industry.

Beginning with a regional overview, the report explores the dynamics that have a strong influence on the GCC luxury market and can also impact its future growth. Taking 2022 as the base year, the report covers historical market scenario from 2017-2022 and provides forecasts till 2027. This includes the study of value and volume trends and pricing history. Growth inducing factors, market restraints and recent developments have also been analysed in the report in order to provide a deeper knowledge about the industry. On a regional basis, the report examines the GCC luxury market in Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman and Bahrain. For each of these regions, the report studies the GCC luxury market in detail for latest trends, outlook and opportunities.

The report analyses the competitive structure of the GCC luxury market industry and provides the profiles of major players operating in the market. The price margins for the products along with the various success and risk factors for manufacturers have also been covered in the report. Moreover, in order to determine market attractiveness, the report analyses the GCC luxury market industry along the parameters of the Porter’s Five Forces model. This model examines the degree of competition in the GCC luxury market industry by analysing the threat posed by new entrants and substitutes, and the bargaining power of suppliers and buyers. SWOT analysis of the market has also been presented in the report which highlights the strengths, weaknesses, opportunities and threats pertaining to the GCC luxury market industry. Furthermore, the value chain analysis of the GCC luxury market industry has also been covered in the report. This comprises of all the activities in the value chain, such as the procurement of various raw materials, manufacturing, sales and distribution. 

GCC Luxury Market Segment Insights:

The GCC luxury market has been analysed as followed:

By Type:

  • Travels and Hotels
  • Cars
  • Personal Luxury Goods
  • Food and Drinks
  • Others

By Gender:

  • Male
  • Female

By Distribution Channel:

  • Mono-Brand Stores
  • Multi-Brand Stores
  • Online Stores
  • Other

By Country:

  • Saudi Arabia
  • United Arab Emirates
  • Qatar
  • Kuwait
  • Oman
  • Bahrain

Country-wise, the market has been segmented into Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman and Bahrain. Amongst these, Saudi Arabia represents the largest market, accounting for majority of the GCC region.

Competative Landscape: 

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

Highlights of the GCC Luxury Market Report:

  • Historical and current scenario
  • Trends and developments
  • Impact of COVID-19
  • Market forecast
  • Price analysis and forecast
  • Porter’s five forces analysis
  • SWOT analysis
  • Value chain analysis

 

Report Customisation:

The GCC luxury market report can be customised as per your requirements. You can get in touch with our analyst, who will make sure that the report suits your research needs

1   Preface
2   Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction

    4.1    Overview
    4.2    Key Industry Trends
5   GCC Luxury Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Breakup by Region
    5.5    Market Breakup by Type
    5.6    Market Breakup by Gender
    5.7    Market Breakup by Distribution Channel
    5.8    Market Forecast
    5.9    SWOT Analysis
        5.9.1    Overview
        5.9.2    Strengths
        5.9.3    Weaknesses
        5.9.4    Opportunities
        5.9.5    Threats
    5.10    Value Chain Analysis
        5.10.1    Overview
        5.10.2    Research and Development
        5.10.3    Manufacturing
        5.10.4    Marketing 
        5.10.5    Distributors
        5.10.6    Retailers
        5.10.7    End-Users
    5.11    Porters Five Forces Analysis
        5.11.1    Overview
        5.11.2    Bargaining Power of Buyers
        5.11.3    Bargaining Power of Suppliers
        5.11.4    Degree of Competition
        5.11.5    Threat of New Entrants
        5.11.6    Threat of Substitutes
6   Market Performance by Region
    6.1    Saudi Arabia
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    United Arab Emirates
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Qatar
        6.3.1 Market Trends
        6.3.2 Market Forecast
    6.4    Kuwait
        6.4.1 Market Trends
        6.4.2 Market Forecast
    6.5    Oman
        6.5.1 Market Trends
        6.5.2 Market Forecast
    6.6    Bahrain
        6.6.1 Market Trends
        6.6.2 Market Forecast
7   Market Performance by Type
    7.1    Travels and Hotels
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Cars
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Personal Luxury Goods
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    Food and Drinks
        7.4.1 Market Trends
        7.4.2 Market Forecast
    7.5    Others
        7.5.1 Market Trends
        7.5.2 Market Forecast
8   Market Performance by Gender
    8.1    Male
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Female
        8.2.1 Market Trends
        8.2.2 Market Forecast
9   Market Performance by Distribution Channel
    9.1    Mono-Brand Stores
        9.1.1 Market Trends
        9.1.2 Market Forecast
    9.2    Multi-Brand Stores
        9.2.1 Market Trends
        9.2.2 Market Forecast
    9.3    Online Stores
        9.3.1 Market Trends
        9.3.2 Market Forecast
    9.4    Others
        9.4.1 Market Trends
        9.4.2 Market Forecast
10  Competitive Landscape
    10.1    Market Structure
    10.2    Key Players

List of Figures

Figure 1: GCC: Luxury Market: Major Drivers and Challenges
Figure 2: GCC: Luxury Market: Sales Value (in Billion US$), 2017-2022
Figure 3: GCC: Luxury Market: Breakup by Region (in %), 2022
Figure 4: GCC: Luxury Market: Breakup by Type (in %), 2022
Figure 5: GCC: Luxury Market: Breakup by Gender (in %), 2022
Figure 6: GCC: Luxury Market: Breakup by Distribution Channel (in %), 2022
Figure 7: GCC: Luxury Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 8: GCC: Luxury Industry: SWOT Analysis
Figure 9: GCC: Luxury Industry: Value Chain Analysis
Figure 10: GCC: Luxury Industry: Porter’s Five Forces Analysis
Figure 11: Saudi Arabia: Luxury Market: Sales Value (in Million US$), 2017 & 2022
Figure 12: Saudi Arabia: Luxury Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: United Arab Emirates: Luxury Market: Sales Value (in Million US$), 2017 & 2022
Figure 14: United Arab Emirates: Luxury Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 15: Qatar: Luxury Market: Sales Value (in Million US$), 2017 & 2022
Figure 16: Qatar: Luxury Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 17: Kuwait: Luxury Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: Kuwait: Luxury Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: Oman: Luxury Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: Oman: Luxury Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: Bahrain: Luxury Market: Sales Value (in Million US$), 2017 & 2022
Figure 22: Bahrain: Luxury Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 23: GCC: Luxury Market (Travels and Hotels): Sales Value (in Million US$), 2017 & 2022
Figure 24: GCC: Luxury Market Forecast (Travels and Hotels): Sales Value (in Million US$), 2023-2028
Figure 25: GCC: Luxury Market (Cars): Sales Value (in Million US$), 2017 & 2022
Figure 26: GCC: Luxury Market Forecast (Cars): Sales Value (in Million US$), 2023-2028
Figure 27: GCC: Luxury Market (Personal Luxury Goods): Sales Value (in Million US$), 2017 & 2022
Figure 28: GCC: Luxury Market Forecast (Personal Luxury Goods): Sales Value (in Million US$), 2023-2028
Figure 29: GCC: Luxury Market (Food and Drinks): Sales Value (in Million US$), 2017 & 2022
Figure 30: GCC: Luxury Market Forecast (Food and Drinks): Sales Value (in Million US$), 2023-2028
Figure 31: GCC: Luxury Market (Other Types): Sales Value (in Million US$), 2017 & 2022
Figure 32: GCC: Luxury Market Forecast (Other Types): Sales Value (in Million US$), 2023-2028
Figure 33: GCC: Luxury Market (Male): Sales Value (in Million US$), 2017 & 2022
Figure 34: GCC: Luxury Market Forecast (Male): Sales Value (in Million US$), 2023-2028
Figure 35: GCC: Luxury Market (Female): Sales Value (in Million US$), 2017 & 2022
Figure 36: GCC: Luxury Market Forecast (Female): Sales Value (in Million US$), 2023-2028
Figure 37: GCC: Luxury Market: Sales through Mono-Brand Stores (in Million US$), 2017 & 2022
Figure 38: GCC: Luxury Market Forecast: Sales through Mono-Brand Stores (in Million US$), 2023-2028
Figure 39: GCC: Luxury Market: Sales through Multi-Brand Stores (in Million US$), 2017 & 2022
Figure 40: GCC: Luxury Market Forecast: Sales through Multi-Brand Stores (in Million US$), 2023-2028
Figure 41: GCC: Luxury Market: Sales through Online Stores (in Million US$), 2017 & 2022
Figure 42: GCC: Luxury Market Forecast: Sales through Online Stores (in Million US$), 2023-2028
Figure 43: GCC: Luxury Market: Sales through Other Distribution Channels (in Million US$), 2017 & 2022
Figure 44: GCC: Luxury Market Forecast: Sales through Other Distribution Channels (in Million US$), 2023-2028

List of Tables

Table 1: GCC: Luxury Market: Key Industry Highlights, 2022 and 2028
Table 3: GCC: Luxury Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 3: GCC: Luxury Market Forecast: Breakup by Type (in Million US$), 2023-2028
Table 4: GCC: Luxury Market Forecast: Breakup by Gender (in Million US$), 2023-2028
Table 5: GCC: Luxury Market Forecast: Breakup by Distribution Channel (in Million US$), 2023-2028
Table 6: GCC: Luxury Market: Competitive Structure
Table 7: GCC: Luxury Market: Key Players

Please enter the Captcha text*

By submitting, you confirm that you agree to our privacy policy

Select Licence Type

Ask For Customization

Personalize this research

Triangulate with your own data

Get data as per your format and definition

Gain a deeper dive on a specific application, geography, customer or competitor

Any level of personalization

Get in Touch

Call us on

US: +1-213-316-7435

Uk: +44-702-409-7740


Drop us an email at

sales@syndicatedanalytics.com

Related Reports

UAE Perfume Market by Price (Premium Products and Mass Products) by Gender (Male, Female and Unisex) by Perfume Type (Arabic, French and Others): Industry Analysis, Trends, Growth and Forecast 2023-2028

The UAE perfume market was worth US$ XX Billion in 2022, expanding at a CAGR of X% during 2017-2022. Looking forward, the market is projected to grow at a CAGR of around X% during 2023-2028, reaching a value of US$ XX Billion by 2028. 

Read More
GCC Running Gear Market by Product (Running Footwear, Running Apparel, Running Accessories and Fitness Trackers) by Gender (Male, Female and Unisex) by Distribution Channel (Specialty and Sports Shops, Supermarkets and Hypermarkets, Department and Discount Stores, Online and Others): Industry Analysis, Trends, Growth and Forecast 2023-2028

The GCC running gear market was worth US$ XX Billion in 2022, expanding at a CAGR of X% during 2017-2022. Looking forward, the market is projected to grow at a CAGR of around X% during 2023-2028, reaching a value of US$ XX Billion by 2027. 

Read More
Saudi Arabia Luxury Market by Distribution Channel (Mono-brand Stores, Multi-brand Stores, Online Stores and Others) by Category (Travel and Hotel, Cars, Personal Luxury Goods, Food and Drinks and Others) by Gender (Male and Female): Industry Analysis, Trends, Growth and Forecast 2023-2028

The Saudi Arabia luxury market was worth US$ XX Billion in 2022, expanding at a CAGR of X% during 2017-2022. Looking forward, the market is projected to grow at a CAGR of around X% during 2023-2028, reaching a value of US$ XX Billion by 2028. ​

Read More
Saudi Arabia Weight Loss Market by Diet, by Equipment, by Service, by Gender and by Age Group: Industry Analysis, Trends, Growth and Forecast 2023-2028

The Saudi Arabia weight loss market was worth US$ XX Billion in 2022, expanding at a CAGR of X% during 2017-2022. Looking forward, the market is projected to grow at a CAGR of around X% during 2023-2028, reaching a value of US$ XX Billion by 2028.  ​

Read More
India Furniture Market by Material (Metal, Wood, Plastic, Glass and Others) by Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Stores and Others) by End Use (Residential and Commercial): Industry Analysis, Trends, Growth and Forecast 2023-2028

The India furniture market was worth US$ XX Billion in 2022, expanding at a CAGR of X% during 2017-2022. Looking forward, the market is projected to grow at a CAGR of around X% during 2023-2028, reaching a value of US$ XX Billion by 2028.

Read More