GCC Jewelry Market Size to Hit USD 24.04 Billion by 2033 | With a 5.7% CAGR

GCC Jewelry Market Overview

Market Size in 2024: USD 14.11 Billion

Market Size in 2033: USD 24.04 Billion

Market Growth Rate 2025-2033: 5.7%

According to IMARC Group's latest research publication, "GCC Jewelry Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2025-2033," the GCC jewelry market size was valued at USD 14.11 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 24.04 Billion by 2033, exhibiting a CAGR of 5.7% during 2025-2033.

How AI is Reshaping the Future of GCC Jewelry Market

● Virtual Try-On Technologies: AI-powered virtual try-ons are transforming online jewelry shopping in the GCC, boosting engagement by up to 50% and enabling customers to visualize pieces realistically before purchase.

● Personalized Design and Customization: AI tools analyze customer preferences to create bespoke jewelry, allowing real-time customization and hyper-personalized pieces that drive higher satisfaction and sales.

● Trend Forecasting and Inventory Management: Over 60% of GCC jewelers use AI for predicting trends and optimizing stock, reducing waste by 15% and ensuring popular designs are always available.

● Enhanced E-Commerce Experiences: AI-driven recommendations and 3D visualizations are accelerating digital sales, particularly among younger consumers in UAE and Saudi Arabia.

● Quality Control and Sustainability: Machine learning detects imperfections in manufacturing, supporting ethical sourcing and lab-grown alternatives for eco-conscious buyers.

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How Vision 2030 is Revolutionizing GCC Jewelry Industry

Saudi Arabia's Vision 2030 is profoundly transforming the jewelry sector by diversifying the economy beyond oil and positioning the Kingdom as a global luxury hub. The initiative boosts tourism targets to 150 million visitors by 2030, driving demand for high-end gold and diamond pieces during weddings, festivals, and pilgrimages. Rising disposable incomes and a growing female workforce fuel spending on branded and luxury jewelry, while incentives for local manufacturing and retail expansion attract international brands like Tiffany & Co. and Damas.

Vision 2030 promotes sustainability through lab-grown diamonds and ethical sourcing, aligning with younger consumers' preferences. Events like SAJEX and Jewellery Salon highlight Saudi designers, especially women, fostering entrepreneurship and cultural exchange. E-commerce growth, supported by digital economy goals, makes jewelry more accessible. Overall, the plan elevates Saudi Arabia's market share in the GCC, encouraging innovation, foreign investment, and positioning the region as a competitor to Dubai in luxury retail.

GCC Jewelry Market Trends & Drivers:

The GCC jewelry market is experiencing robust growth driven by deep-rooted cultural traditions that emphasize gold and precious stones in weddings, festivals, and gifting ceremonies across the region. Thriving tourism initiatives in countries like UAE and Saudi Arabia attract international visitors seeking luxury pieces, while economic diversification efforts boost retail expansion and attract global brands to establish flagship stores. Digital transformation is reshaping the sector through e-commerce platforms offering virtual try-ons and secure transactions, appealing to younger, tech-savvy consumers in urban centers. Rising interest in personalization allows customers to create bespoke designs blending traditional motifs with modern aesthetics, enhancing emotional value and brand loyalty.

Sustainability trends are gaining momentum with increasing adoption of lab-grown diamonds and ethically sourced materials, reflecting eco-conscious preferences among millennials and Gen Z. Brands incorporating recycled metals and transparent supply chains are capturing this evolving demand, aligning with broader regional goals for responsible luxury consumption and innovation in jewelry craftsmanship.

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GCC Jewelry Industry Segmentation:

The report has segmented the market into the following categories:

Analysis by Product:

Necklace
● Ring
● Earrings
● Bracelets
● Others

Analysis by Material:

● Gold
● Platinum
● Diamond
● Others

Country Analysis:

● Saudi Arabia
● UAE
● Qatar
● Bahrain
● Kuwait
● Oman

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Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Recent News and Developments in GCC Jewelry Market

● January 2025: GCC jewelry retailers reported record winter-season sales, driven by tourism inflows and strong demand for gold, diamond, and bridal jewelry across the UAE and Saudi Arabia.

● March 2025: Leading international jewelry houses announced flagship store expansions and experiential boutiques in Dubai and Riyadh, reflecting increased luxury spending in the region.

● June 2025: Major GCC jewelers invested in digital transformation and omnichannel platforms, integrating virtual try-ons, personalization tools, and online-to-offline purchasing.

● September 2025: Saudi Arabia and the UAE saw high-value bridal jewelry launches and collections timed with wedding seasons, boosting demand for customized and heritage-inspired designs.

● December 2025: Year-end festivities and gifting drove record annual jewelry revenues, with strong performance in 22K gold jewelry, diamonds, and premium watches across GCC retail hubs.

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IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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