UAE Luxury Market Overview:
The UAE 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, also known as upmarket products, are non-essential but desirable items that are associated with wealth and exclusivity. They include designer apparel and footwear, fashion accessories like jewelry and high-end watches, perfume, luggage, premium automobiles, yacht, wine, homes, and estates. They are exceptional in their design and craftsmanship and reflect a strong brand identity and rich heritage. Luxury goods assist in increasing self-esteem and providing a sense of accomplishment. At present, the thriving travel and tourism industry is promoting UAE as one of the most popular markets for purchasing luxury goods among the Middle Eastern countries.
High standards of living and wealthy population of UAE, which is willing to spend on lavish items, represent one of the key factors positively influencing the market. Besides this, flourishing travel and tourism in the country is resulting in the rising the sales of ultra-high-end brands. Travelers visiting the country buy luxury goods from the outlets of various multinational brands for their homes, which is offering lucrative growth opportunities to manufacturers for introduce their products to the local market. Additionally, increasing investments in marketing strategies by leading market players, which include social media promotion, banner advertising, and celebrity endorsements, to expand their consumer base are providing a thrust to the market growth. In addition, key market players are also launching offline stores in innovative formats to capture consumer interest and generate revenue, which is fueling the growth of the market. Furthermore, the easy availability of luxury items across online portals, coupled with the facilities of doorstep delivery and secured online payment gateways, is creating a favorable market outlook. Apart from this, the growing premiumization and increasing use of applications that facilitate direct interaction between buyers and sellers is shaping the business models. Furthermore, the rising use of augmented reality (AR) to improve overall shopping experience is driving the market in the country.
Beginning with a regional overview, the report explores the dynamics that have a strong influence on the UAE 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 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.
The report analyses the competitive structure of the UAE 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 UAE luxury market industry along the parameters of the Porter’s Five Forces model. This model examines the degree of competition in the UAE 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 UAE luxury market industry. Furthermore, the value chain analysis of the UAE 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.
UAE Luxury Market Segment Insights:
The UAE luxury market has been analysed as followed:
By Type:
By Gender:
By Distribution Channel:
Competative Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Highlights of the UAE Luxury Market Report:
Report Customisation:
The UAE 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 UAE Luxury Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Type
5.5 Market Breakup by Gender
5.6 Market Breakup by Distribution Channel
5.7 Market Forecast
5.8 SWOT Analysis
5.8.1 Overview
5.8.2 Strengths
5.8.3 Weaknesses
5.8.4 Opportunities
5.8.5 Threats
5.9 Value Chain Analysis
5.9.1 Overview
5.9.2 Research and Development
5.9.3 Manufacturing
5.9.4 Marketing
5.9.5 Distributors
5.9.6 Retailers
5.9.7 End-Users
5.10 Porters Five Forces Analysis
5.10.1 Overview
5.10.2 Bargaining Power of Buyers
5.10.3 Bargaining Power of Suppliers
5.10.4 Degree of Competition
5.10.5 Threat of New Entrants
5.10.6 Threat of Substitutes
5.11 Key Success and Risk Factors
6 Market Performance by Type
6.1 Travel and Hotel
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Cars
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Personal Luxury Goods
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Food and Drinks
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Others
6.5.1 Market Trends
6.5.2 Market Forecast
7 Market Performance by Gender
7.1 Male
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Female
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Performance by Distribution Channel
8.1 Monobrand Stores
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Multibrand Stores
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Online Stores
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Others
8.4.1 Market Trends
8.4.2 Market Forecast
9 Competitive Landscape
9.1 Market Structure
9.2 Key Players
9.3 Profiles of Key Players
List of Figures
Figure 1: UAE: Luxury Market: Major Drivers and Challenges
Figure 2: UAE: Luxury Market: Sales Value (in Billion US$), 2017-2022
Figure 3: UAE: Luxury Market: Breakup by Type (in %), 2021
Figure 4: UAE: Luxury Market: Breakup by Gender (in %), 2021
Figure 5: UAE: Luxury Market: Breakup by Distribution Channel (in %), 2021
Figure 6: UAE: Luxury Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 7: UAE: Luxury Industry: SWOT Analysis
Figure 8: UAE: Luxury Industry: Value Chain Analysis
Figure 9: UAE: Luxury Industry: Porter’s Five Forces Analysis
Figure 10: UAE: Luxury Market (Travel and Hotel): Sales Value (in Million US$), 2017 & 2022
Figure 11: UAE: Luxury Market Forecast (Travel and Hotel): Sales Value (in Million US$), 2023-2028
Figure 12: UAE: Luxury Market (Cars): Sales Value (in Million US$), 2017 & 2022
Figure 13: UAE: Luxury Market Forecast (Cars): Sales Value (in Million US$), 2023-2028
Figure 14: UAE: Luxury Market (Personal Luxury Goods): Sales Value (in Million US$), 2017 & 2022
Figure 15: UAE: Luxury Market Forecast (Personal Luxury Goods): Sales Value (in Million US$), 2023-2028
Figure 16: UAE: Luxury Market (Food and Drinks): Sales Value (in Million US$), 2017 & 2022
Figure 17: UAE: Luxury Market Forecast (Food and Drinks): Sales Value (in Million US$), 2023-2028
Figure 18: UAE: Luxury Market (Other Types): Sales Value (in Million US$), 2017 & 2022
Figure 19: UAE: Luxury Market Forecast (Other Types): Sales Value (in Million US$), 2023-2028
Figure 20: UAE: Luxury Market (Male): Sales Value (in Million US$), 2017 & 2022
Figure 21: UAE: Luxury Market Forecast (Male): Sales Value (in Million US$), 2023-2028
Figure 22: UAE: Luxury Market (Female): Sales Value (in Million US$), 2017 & 2022
Figure 23: UAE: Luxury Market Forecast (Female): Sales Value (in Million US$), 2023-2028
Figure 24: UAE: Luxury Market: Sales through Monobrand Stores (in Million US$), 2017 & 2022
Figure 25: UAE: Luxury Market Forecast: Sales through Monobrand Stores (in Million US$), 2023-2028
Figure 26: UAE: Luxury Market: Sales through Multibrand Stores (in Million US$), 2017 & 2022
Figure 27: UAE: Luxury Market Forecast: Sales through Multibrand Stores (in Million US$), 2023-2028
Figure 28: UAE: Luxury Market: Sales through Online Stores (in Million US$), 2017 & 2022
Figure 29: UAE: Luxury Market Forecast: Sales through Online Stores (in Million US$), 2023-2028
Figure 30: UAE: Luxury Market: Sales through Other Distribution Channels (in Million US$), 2017 & 2022
Figure 31: UAE: Luxury Market Forecast: Sales through Other Distribution Channels (in Million US$), 2023-2028
List of Tables
Table 1: UAE: Luxury Market: Key Industry Highlights, 2022 and 2028
Table 2: UAE: Luxury Market Forecast: Breakup by Type (in Million US$), 2023-2028
Table 3: UAE: Luxury Market Forecast: Breakup by Gender (in Million US$), 2023-2028
Table 4: UAE: Luxury Market Forecast: Breakup by Distribution Channel (in Million US$), 2023-2028
Table 5: UAE: Luxury Market: Competitive Structure
Table 6: UAE: Luxury Market: Key Players
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