GCC Personal Luxury Goods Market Overview:
The GCC personal luxury goods 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. Personal luxury goods refer to non-essential, premium, and high-end products that are highly desirable in a culture or society and serve as a status symbol. It includes designer handbags, haute couture clothing, premium watches, jewelry, fashion accessories, perfumes, and high-end cosmetics. Highly durable, the products are manufactured from premium materials and offer superior craftsmanship, high-value aesthetics, and an extended warranty period. Personal luxury goods exhibit uniqueness, quality, exclusivity, and rarity. They also provide an unforgettable and personalized experience in terms of high-touch service, luxurious packaging, and an affluent in-store environment.
The rising living standards, coupled with the increasing expenditure capacities of consumers, is one of the key factors driving the market growth in the region. In line with this, evolving fashion and aesthetic trends and shifting consumer inclination towards quality and stylish products with advanced technical fabrications are favoring the market growth. Additionally, the rising demand for luxury goods due to their association with extravagance and elitism that acts as a social marker and assists individuals in displaying status and a particular position in society is acting as another growth-inducing factor. Furthermore, the incorporation of sustainability and digitalization by luxury goods manufacturers to align with consumer demands and new regulatory requirements is providing a thrust to the market growth. Moreover, the shifting focus of the global luxury brands on regional requirements through collaborations, dedicated collections, and local events is positively impacting the market growth. Apart from this, the growing popularity of high-end fashion brands and the increasing demand for premiumization and customization for superior quality and design are propelling the market growth. Besides this, the increasing number of celebrity endorsements and the high prevalence of social media marketing is augmenting the market growth. Other factors, including increasing initiatives by several regional governments to relax trade barriers, easy product availability across e-commerce platforms, and a rising working women population, are supporting the market growth.
Beginning with a regional overview, the report explores the dynamics that have a strong influence on the GCC personal luxury goods 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 2028. 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 personal luxury goods market in Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman and Bahrain. For each of these regions, the report studies the GCC personal luxury goods market in detail for latest trends, outlook and opportunities.
The report analyses the competitive structure of the GCC personal luxury goods 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 personal luxury goods market industry along the parameters of the Porter’s Five Forces model. This model examines the degree of personal luxury goods in the GCC personal luxury goods 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 personal luxury goods market industry. Furthermore, the value chain analysis of the GCC personal luxury goods 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 Personal Luxury Goods Market Segment Insights:
The GCC personal luxury goods market has been analysed as followed:
By Type:
By Gender:
By Distribution Channel:
By Country:
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 Personal Luxury Goods Market Report:
Report Customisation:
The GCC personal luxury goods 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 Personal Luxury Goods Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Country
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 Breakup by Type
7.1 Accessories
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Apparel
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Watch and Jewellery
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Luxury Cosmetics
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 Breakup by Gender
8.1 Female
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Male
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by Distribution Channel
9.1 Mono-brand Stores
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Specialty Stores
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Departmental Stores
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Online Stores
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Others
9.5.1 Market Trends
9.5.2 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porter’s Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Competitive Landscape
13.1 Market Structure
13.2 Key Players
13.3 Profiles of Key Players
13.3.1 Burberry Group PLC
13.3.1.1 Company Overview
13.3.1.2 Product Portfolio
13.3.1.3 Financials
13.3.2 Chanel S.A.
13.3.2.1 Company Overview
13.3.2.2 Product Portfolio
13.3.2.3 Financials
13.3.3 Estee Lauder Companies
13.3.3.1 Company Overview
13.3.3.2 Product Portfolio
13.3.3.3 Financials
13.3.4 Giorgio Armani SpA
13.3.4.1 Company Overview
13.3.4.2 Product Portfolio
13.3.5 Kering S.A.
13.3.5.1 Company Overview
13.3.5.2 Product Portfolio
13.3.5.3 Financials
13.3.6 Loreal
13.3.6.1 Company Overview
13.3.6.2 Product Portfolio
13.3.6.3 Financials
13.3.7 LVMH Moët Hennessy Louis Vuitton SE
13.3.7.1 Company Overview
13.3.7.2 Product Portfolio
13.3.7.3 Financials
13.3.8 Mulberry Group PLC
13.3.8.1 Company Overview
13.3.8.2 Product Portfolio
13.3.8.3 Financials
13.3.9 Prada Group
13.3.9.1 Company Overview
13.3.9.2 Product Portfolio
13.3.9.3 Financials
13.3.10 Cie Financiere Richemont SA
13.3.10.1 Company Overview
13.3.10.2 Product Portfolio
13.3.10.3 Financials
13.3.11 The Swatch Group
13.3.11.1 Company Overview
13.3.11.2 Product Portfolio
13.3.11.3 Financials
13.3.12 Versace
13.3.12.1 Company Overview
13.3.12.2 Product Portfolio
List of Figures
Figure 1: GCC: Personal Luxury Goods Market: Major Drivers and Challenges
Figure 2: GCC: Personal Luxury Goods Market: Sales Value (in Billion US$), 2017-2022
Figure 3: GCC: Personal Luxury Goods Market: Breakup by Country (in %), 2022
Figure 4: GCC: Personal Luxury Goods Market: Breakup by Type (in %), 2022
Figure 5: GCC: Personal Luxury Goods Market: Breakup by Gender (in %), 2022
Figure 6: GCC: Personal Luxury Goods Market: Breakup by Distribution Channel (in %), 2022
Figure 7: GCC: Personal Luxury Goods Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 8: Saudi Arabia: Personal Luxury Goods Market: Sales Value (in Million US$), 2017 & 2022
Figure 9: Saudi Arabia: Personal Luxury Goods Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 10: United Arab Emirates: Personal Luxury Goods Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: United Arab Emirates: Personal Luxury Goods Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Qatar: Personal Luxury Goods Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Qatar: Personal Luxury Goods Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Kuwait: Personal Luxury Goods Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Kuwait: Personal Luxury Goods Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Oman: Personal Luxury Goods Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Oman: Personal Luxury Goods Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Bahrain: Personal Luxury Goods Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Bahrain: Personal Luxury Goods Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: GCC: Personal Luxury Goods (Accessories) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: GCC: Personal Luxury Goods (Accessories) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: GCC: Personal Luxury Goods (Apparels) Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: GCC: Personal Luxury Goods (Apparels) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: GCC: Personal Luxury Goods (Watch and Jewellery) Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: GCC: Personal Luxury Goods (Watch and Jewellery) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: GCC: Personal Luxury Goods (Luxury Cosmetics) Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: GCC: Personal Luxury Goods (Luxury Cosmetics) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: GCC: Personal Luxury Goods (Other Product Types) Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: GCC: Personal Luxury Goods (Other Product Types) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: GCC: Personal Luxury Goods (Purchase by Females) Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: GCC: Personal Luxury Goods (Purchase by Females) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: GCC: Personal Luxury Goods (Purchase by Males) Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: GCC: Personal Luxury Goods (Purchase by Males) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: GCC: Personal Luxury Goods Market: Sales through Mono-brand Stores (in Million US$), 2017 & 2022
Figure 35: GCC: Personal Luxury Goods Market Forecast: Sales through Mono-brand Stores (in Million US$), 2023-2028
Figure 36: GCC: Personal Luxury Goods Market: Sales through Specialty Stores (in Million US$), 2017 & 2022
Figure 37: GCC: Personal Luxury Goods Market Forecast: Sales through Specialty Stores (in Million US$), 2023-2028
Figure 38: GCC: Personal Luxury Goods Market: Sales through Departmental Stores (in Million US$), 2017 & 2022
Figure 39: GCC: Personal Luxury Goods Market Forecast: Sales through Departmental Stores (in Million US$), 2023-2028
Figure 40: GCC: Personal Luxury Goods Market: Sales through Online Stores (in Million US$), 2017 & 2022
Figure 41: GCC: Personal Luxury Goods Market Forecast: Sales through Online Stores (in Million US$), 2023-2028
Figure 42: GCC: Personal Luxury Goods Market: Sales through Other Distribution Channels (in Million US$), 2017 & 2022
Figure 43: GCC: Personal Luxury Goods Market Forecast: Sales through Other Distribution Channels (in Million US$), 2023-2028
Figure 44: GCC: Personal Luxury Goods Industry: SWOT Analysis
Figure 45: GCC: Personal Luxury Goods Industry: Value Chain Analysis
Figure 46: GCC: Personal Luxury Goods Industry: Porter’s Five Forces Analysis
List of Tables
Table 1: GCC: Personal Luxury Goods Market: Key Industry Highlights, 2022 and 2028
Table 2: GCC: Personal Luxury Goods Market Forecast: Breakup by Country (in Million US$), 2023-2028
Table 3: GCC: Personal Luxury Goods Market Forecast: Breakup by Type (in Million US$),2023-2028
Table 4: GCC: Personal Luxury Goods Market Forecast: Breakup by Gender (in Million US$), 2023-2028
Table 5: GCC: Personal Luxury Goods Market Forecast: Breakup by Distribution Channel (in Million US$), 2023-2028
Table 6: GCC: Personal Luxury Goods Market: Competitive Structure
Table 7: GCC: Personal Luxury Goods Market: Key Players
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