GCC Personal Luxury Goods Market to Reach US$ 14.3 Billion by 2032, Accelerated by Burgeoning Consumer Per Capita Income

April 03, 2023 | Retail

As per the latest report by IMARC Group, titled "GCC Personal Luxury Goods Market Report by Type (Accessories, Apparel, Watch and Jewellery, Luxury Cosmetics, and Others), Gender (Female, Male), Distribution Channel (Mono-brand Stores, Specialty Stores, Departmental Stores, Online Stores, and Others), and Country 2024-2032," the GCC personal luxury goods market size reached US$ 9.9 Billion in 2023. Personal luxury goods are handmade by master artisans using the finest materials, characterized by their exceptional quality, attention to detail, and uniqueness. The making of personal luxury goods is a delicate process that requires skill and expertise. Each piece is meticulously crafted, with every detail carefully considered to ensure the highest levels of quality and design. They offer several advantages over their mass-produced counterparts, such as using finest materials, longevity, and durability. Additionally, they are a symbol of status and prestige, representing the owner's wealth and refinement. Currently, there are various types of personal luxury goods available in the market spread across different categories, including clothing, accessories, jewelry, cosmetics, and shoes. In the GCC region, increasing globalization and the wide presence of international luxury brands are bolstering the market growth.

GCC Personal Luxury Goods Market Trends:

The rising consumer living standards and inflating disposable income levels are some of the key factors providing an impetus to the market growth in the GCC. This is further supported by the growing working women population and the rising influence of western fashion trends. Furthermore, the expanding tourism sector, particularly in the UAE, and relaxed trade barriers are creating a positive outlook for the market in the region. In line with this, personal luxury retail platforms are increasingly investing in authentication procedures and quality checks to maintain brand value, minimize the risk of product replication by counterfeiters, and provide a safe and reliable environment for customers, which, in turn, is accelerating the market growth. Besides this, the availability of personal luxury goods on online retail platforms and the endorsement of personal luxury goods by celebrities are fueling the market growth. Other factors, such as increasing social media marketing, growing demand for secondhand luxury goods, and rising popularity of limited capsule collections and fashion drops, are driving the market growth. Looking forward, the market value is projected to reach US$ 14.3 Billion by 2032, expanding at a CAGR of 4% during 2024-2032.

Market Summary:

By country, the market is divided into Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman, and Bahrain.
Based on the type, the market is classified into accessories, apparel, watch and jewellery, luxury cosmetics, and others.
On the basis of the gender, the market is segregated into female and male.
By distribution channel, the market is categorized into mono-brand stores, specialty stores, departmental stores, online stores, and others.
The competitive landscape of the industry has also been examined with some of the key players being Burberry Group PLC, Chanel S.A., Estee Lauder Companies, Giorgio Armani SpA, Kering S.A., Loreal, LVMH Moët Hennessy Louis Vuitton SE, Mulberry Group PLC, Prada Group, Cie Financiere Richemont SA, The Swatch Group, and Versace.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Type, Gender, Distribution Channel, Country
Countries Covered	Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman, Bahrain
Companies Covered	Burberry Group PLC, Chanel S.A., Estee Lauder Companies, Giorgio Armani SpA, Kering S.A., Loreal, LVMH Moët Hennessy Louis Vuitton SE, Mulberry Group PLC, Prada Group, Cie Financiere Richemont SA, The Swatch Group and Versace
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 3699 Five User License: US$ 4699 Corporate License: US$ 5699
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

IMARC Group
134 N 4th St.
Brooklyn, NY 11249, USA
Email: Sales@imarcgroup.com
Americas:- +1 631 791 1145 | Africa and Europe :- +44-753-713-2163 | Asia: +91-120-433-0800

Need more help?

Speak to our experienced analysts for insights on the current market scenarios.
Include additional segments and countries to customize the report as per your requirement.
Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
For further assistance, please connect with our analysts.

GCC Personal Luxury Goods Market to Reach US$ 14.3 Billion by 2032, Accelerated by Burgeoning Consumer Per Capita Income

Purchase options

Single User License ~~$3699~~ $2899
Five User License ~~$4699~~ $3899
Corporate User License ~~$5699~~ $4899

Inquire Before Buying

Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

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

Any level of personalization

Speak to an Analyst

Request Brochure

Get in Touch With Us

UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-714-6104

Email: sales@imarcgroup.com

Client Testimonials

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.