The Saudi Arabia personal luxury goods market size reached USD 5,031.26 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 8,250.91 Million by 2033, exhibiting a growth rate (CAGR) of 5.65% during 2025-2033. The market is being driven by a rising population of high-net-worth individuals seeking exclusive products and transformative social reforms under Vision 2030 that are reshaping consumer behavior, expanding women's participation in the consumer economy, and fostering a modern, fashion-forward culture aligned with global luxury trends and experiential retail expectations.
Report Attribute
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Key Statistics
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Base Year
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2024 |
Forecast Years
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2025-2033
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Historical Years
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2019-2024
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Market Size in 2024 | USD 5,031.26 Million |
Market Forecast in 2033 | USD 8,250.91 Million |
Market Growth Rate 2025-2033 | 5.65% |
Rising Number of High-Net-Worth Individuals (HNWIs) and Wealth Expansion
Saudi Arabia is seeing a significant growth in its number of high-net-worth individuals, fueled by economic diversification, increased oil revenues, and development in sectors such as finance, technology, and property. The Kingdom's millionaires are growing in numbers, as many have accumulated their fortunes through investments in business portfolios and government-sponsored initiatives in the Vision 2030 economic diversification strategy. The growth in this wealthy population has resulted in an upsurge in demand for luxury, high-end, status-driven, and exclusive products such as expensive watches, designer clothing, leather products, high-end jewellery, and luxury perfumes. HNWIs in Saudi Arabia also appreciate exclusivity and individualization, something that is highly compatible with personal luxury goods brands' offerings. The Kingdom’s high-spending consumers are now more often looking for made-to-order or limited-production items that provide an element of singularity and social status.
Cultural Liberalization and Evolving Consumer Lifestyles Under Vision 2030
Another driver of Saudi Arabia's individual luxury goods market is the wide-ranging cultural liberalization underway under the government's Vision 2030 program. Traditionally, public consumption of luxury fashion and lifestyle products was constrained by cultural and social convention, especially for women. Yet the Vision 2030 initiative, designed to turn the Kingdom into an open, world-connected society, has ushered in broad social reforms. These encompass loosening dress codes, widening women's rights (including the right to drive and travel alone), and driving female workforce participation. This revolution has unleashed a forceful new generation of luxury consumers, particularly younger Saudis and women, who now have the freedom to use fashion and lifestyle as a means of expressing individuality. As public spaces like cinemas, restaurants, shopping centers, and entertainment complexes thrive, there is a wide demand for personal luxury goods that complement these new, outward-looking lifestyles.
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the region/country level for 2025-2033. Our report has categorized the market based on type, gender, and distribution channel.
Type Insights:
The report has provided a detailed breakup and analysis of the market based on the type. This includes accessories, apparel, watch and jewellery, luxury cosmetics, and others.
Gender Insights:
A detailed breakup and analysis of the market based on the gender have also been provided in the report. This includes female and male.
Distribution Channel Insights:
The report has provided a detailed breakup and analysis of the market based on the distribution channel. This includes mono-brand stores, specialty stores, departmental stores, online stores, and others.
Regional Insights:
The report has also provided a comprehensive analysis of all the major regional markets, which include Northern and Central Region, Western Region, Eastern Region, and Southern Region.
The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.
Report Features | Details |
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Base Year of the Analysis | 2024 |
Historical Period | 2019-2024 |
Forecast Period | 2025-2033 |
Units | Million USD |
Scope of the Report |
Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment:
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Types Covered | Accessories, Apparel, Watch and Jewellery, Luxury Cosmetics, Others |
Genders Covered | Female, Male |
Distribution Channels Covered | Mono-brand Stores, Specialty Stores, Departmental Stores, Online Stores, Others |
Regions Covered | Northern and Central Region, Western Region, Eastern Region, Southern Region |
Customization Scope | 10% Free Customization |
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) |
Key Questions Answered in This Report:
Key Benefits for Stakeholders: