PUBLISHER: IMARC | PRODUCT CODE: 1451051
PUBLISHER: IMARC | PRODUCT CODE: 1451051
GCC Luxury Market Report by Type (Travels and Hotels, Cars, Personal Luxury Goods, Food and Drinks, and Others), Gender (Male, Female), Distribution Channel (Mono-Brand Stores, Multi-Brand Stores, Online Stores, and Others), and Region 2024-2032
The GCC luxury market size reached US$ 15.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 35.2 Billion by 2032, exhibiting a growth rate (CAGR) of 9.3% during 2024-2032.
The GCC luxury market is currently being catalysed by rising economic growth, a large young population, strong growth of the tourism sector, and an increasing penetration of ecommerce and social media.In a region made affluent from strong oil production and exports, GCC economies have experienced strong economic growth over the past decades. Catalysed by rising affluence levels, spending on luxury products has been witnessing a continuous growth. The region has also witnessed strong population growth over the last five years resulting in a large young population. Currently around half of the total population in the region is below 30 years of age. With this generation of the population being bought up during the region's economic ascendency, they perceive luxury not given but as a gift. It is the young population that represents the biggest driver of the luxury market in the region.
Another major driver of the luxury market in the region is the increasing penetration of ecommerce and social media. The online market continues to drive the sales of luxury products as boundaries blur with the more traditional distribution channels. Social media platforms such as youtube, facebook, instagram, whatsapp, etc. are also influencing consumers, particularly the younger generation. Moreover, the tourism sector of the GCC region has also been expanding in nations like the UAE which has further broadened the growth prospects for luxury goods.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the GCC luxury market report, along with forecasts at the regional and country level from 2024-2032. Our report has categorized the market based on type, gender and distribution channel.
Breakup by Region:
Saudi Arabia
United Arab Emirates
Qatar
Kuwait
Oman
Bahrain
Saudi Arabia and UAE are the prominent regions.
Breakup by Type:
Travels and Hotels
Cars
Personal Luxury Goods
Food and Drinks
Others
Currently, the cars category dominates the market.
Breakup by Gender:
Male
Female
On the basis of gender, males dominated the market.
Breakup by Distribution Channel:
Mono-Brand Stores
Multi-Brand Stores
Online Stores
Others
Based on the distribution channel, the GCC luxury market has been segmented into mono-brand stores, multi-brand store, online stores and others.
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
This report provides a deep insight into the GCC luxury market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the GCC luxury industry in any manner.
Key Questions Answered in This Report
- 1. What was the size of the GCC luxury market in 2023?
- 2. What is the expected growth rate of the GCC luxury market during 2024-2032?
- 3. What has been the impact of COVID-19 on the GCC luxury market?
- 4. What are the key factors driving the GCC luxury market?
- 5. What is the breakup of the GCC luxury market based on the type?
- 6. What is the breakup of the GCC luxury market based on the gender?
- 7. What is the breakup of the GCC luxury market based on the distribution channel?
- 8. What are the key regions in the GCC luxury market?
Table of Contents
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$), 2018-2023
- Figure 3: GCC: Luxury Market: Breakup by Region (in %), 2023
- Figure 4: GCC: Luxury Market: Breakup by Type (in %), 2023
- Figure 5: GCC: Luxury Market: Breakup by Gender (in %), 2023
- Figure 6: GCC: Luxury Market: Breakup by Distribution Channel (in %), 2023
- Figure 7: GCC: Luxury Market Forecast: Sales Value (in Billion US$), 2024-2032
- 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$), 2018 & 2023
- Figure 12: Saudi Arabia: Luxury Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 13: United Arab Emirates: Luxury Market: Sales Value (in Million US$), 2018 & 2023
- Figure 14: United Arab Emirates: Luxury Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 15: Qatar: Luxury Market: Sales Value (in Million US$), 2018 & 2023
- Figure 16: Qatar: Luxury Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 17: Kuwait: Luxury Market: Sales Value (in Million US$), 2018 & 2023
- Figure 18: Kuwait: Luxury Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 19: Oman: Luxury Market: Sales Value (in Million US$), 2018 & 2023
- Figure 20: Oman: Luxury Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 21: Bahrain: Luxury Market: Sales Value (in Million US$), 2018 & 2023
- Figure 22: Bahrain: Luxury Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 23: GCC: Luxury Market (Travels and Hotels): Sales Value (in Million US$), 2018 & 2023
- Figure 24: GCC: Luxury Market Forecast (Travels and Hotels): Sales Value (in Million US$), 2024-2032
- Figure 25: GCC: Luxury Market (Cars): Sales Value (in Million US$), 2018 & 2023
- Figure 26: GCC: Luxury Market Forecast (Cars): Sales Value (in Million US$), 2024-2032
- Figure 27: GCC: Luxury Market (Personal Luxury Goods): Sales Value (in Million US$), 2018 & 2023
- Figure 28: GCC: Luxury Market Forecast (Personal Luxury Goods): Sales Value (in Million US$), 2024-2032
- Figure 29: GCC: Luxury Market (Food and Drinks): Sales Value (in Million US$), 2018 & 2023
- Figure 30: GCC: Luxury Market Forecast (Food and Drinks): Sales Value (in Million US$), 2024-2032
- Figure 31: GCC: Luxury Market (Other Types): Sales Value (in Million US$), 2018 & 2023
- Figure 32: GCC: Luxury Market Forecast (Other Types): Sales Value (in Million US$), 2024-2032
- Figure 33: GCC: Luxury Market (Male): Sales Value (in Million US$), 2018 & 2023
- Figure 34: GCC: Luxury Market Forecast (Male): Sales Value (in Million US$), 2024-2032
- Figure 35: GCC: Luxury Market (Female): Sales Value (in Million US$), 2018 & 2023
- Figure 36: GCC: Luxury Market Forecast (Female): Sales Value (in Million US$), 2024-2032
- Figure 37: GCC: Luxury Market: Sales through Mono-Brand Stores (in Million US$), 2018 & 2023
- Figure 38: GCC: Luxury Market Forecast: Sales through Mono-Brand Stores (in Million US$), 2024-2032
- Figure 39: GCC: Luxury Market: Sales through Multi-Brand Stores (in Million US$), 2018 & 2023
- Figure 40: GCC: Luxury Market Forecast: Sales through Multi-Brand Stores (in Million US$), 2024-2032
- Figure 41: GCC: Luxury Market: Sales through Online Stores (in Million US$), 2018 & 2023
- Figure 42: GCC: Luxury Market Forecast: Sales through Online Stores (in Million US$), 2024-2032
- Figure 43: GCC: Luxury Market: Sales through Other Distribution Channels (in Million US$), 2018 & 2023
- Figure 44: GCC: Luxury Market Forecast: Sales through Other Distribution Channels (in Million US$), 2024-2032
List of Tables
- Table 1: GCC: Luxury Market: Key Industry Highlights, 2023 and 2032
- Table 3: GCC: Luxury Market Forecast: Breakup by Region (in Million US$), 2024-2032
- Table 3: GCC: Luxury Market Forecast: Breakup by Type (in Million US$), 2024-2032
- Table 4: GCC: Luxury Market Forecast: Breakup by Gender (in Million US$), 2024-2032
- Table 5: GCC: Luxury Market Forecast: Breakup by Distribution Channel (in Million US$), 2024-2032
- Table 6: GCC: Luxury Market: Competitive Structure
- Table 7: GCC: Luxury Market: Key Players
