UAE Luxury Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027
The UAE luxury market size reached US$ 3.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 5.2 Billion by 2027, exhibiting a growth rate (CAGR) of 6.68% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Luxury goods, also known as upmarket goods, refer to those products which are costlier and are often bought by individuals that have a higher disposable income. These goods largely depend on marketing and promotions in order to communicate brand values. Currently, UAE represents one of the most attractive markets for luxury goods amongst the Middle Eastern countries.
The growth of the UAE luxury market can be highly accredited to the fact that there is a notable population of wealthy and ultra-rich consumers in the region who are willing to spend millions for lavish items. The wealthy residents of the country spend billions of dirhams to purchase posh designer clothes, shoes, cars, etc. Apart from this, the booming travel and tourism industry has helped UAE to become the largest shopping destination in the Middle Eastern region. This remains another force which is further broadening the growth prospects for luxury goods in the region. Moreover, the emergence of e-commerce has provided an easy access to product-related information and prices online at any given point of time. This has further contributed towards the overall growth of the UAE luxury market. However, global economic uncertainty, unstable oil prices and political unrest in the region represent some of the major challenges that may hamper the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the UAE luxury market report, along with forecasts for the period 2022-2027. Our report has categorized the market based on type, gender and distribution channel.
Breakup by Type:
Travel and Hotel
Cars
Personal Luxury Goods
Food and Drinks
Others
Based on the type, the market has been segmented into travel and hotel, luxury cars, personal luxury goods, food and drinks and others. Currently, travel and hotel dominates the market.
Breakup by Gender:
Male
Female
On the basis of gender, males accounted for a higher spending compared to females.
Breakup by Distribution Channel:
Monobrand Stores
Multibrand Stores
Online Stores
Others
Based on the distribution channel, the UAE luxury market has been segmented into mono-brand stores, multi-brand stores, online stores and others.
This report provides a deep insight into the UAE 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 UAE luxury industry in any manner.
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key Questions Answered in This Report:
How has the UAE luxury market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the UAE luxury market?
What is the breakup of the UAE luxury market on the basis of type?
What is the breakup of the UAE luxury market on the basis of gender?
What is the breakup of the UAE luxury market on the basis of distribution channel?
What is the value chain of the UAE luxury industry?
What are the key driving factors and challenges in the UAE luxury industry?
What is the competitive structure of the UAE luxury industry and who are the key players?
What is the degree of competition in the UAE luxury industry?
Luxury goods, also known as upmarket goods, refer to those products which are costlier and are often bought by individuals that have a higher disposable income. These goods largely depend on marketing and promotions in order to communicate brand values. Currently, UAE represents one of the most attractive markets for luxury goods amongst the Middle Eastern countries.
The growth of the UAE luxury market can be highly accredited to the fact that there is a notable population of wealthy and ultra-rich consumers in the region who are willing to spend millions for lavish items. The wealthy residents of the country spend billions of dirhams to purchase posh designer clothes, shoes, cars, etc. Apart from this, the booming travel and tourism industry has helped UAE to become the largest shopping destination in the Middle Eastern region. This remains another force which is further broadening the growth prospects for luxury goods in the region. Moreover, the emergence of e-commerce has provided an easy access to product-related information and prices online at any given point of time. This has further contributed towards the overall growth of the UAE luxury market. However, global economic uncertainty, unstable oil prices and political unrest in the region represent some of the major challenges that may hamper the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the UAE luxury market report, along with forecasts for the period 2022-2027. Our report has categorized the market based on type, gender and distribution channel.
Breakup by Type:
Travel and Hotel
Cars
Personal Luxury Goods
Food and Drinks
Others
Based on the type, the market has been segmented into travel and hotel, luxury cars, personal luxury goods, food and drinks and others. Currently, travel and hotel dominates the market.
Breakup by Gender:
Male
Female
On the basis of gender, males accounted for a higher spending compared to females.
Breakup by Distribution Channel:
Monobrand Stores
Multibrand Stores
Online Stores
Others
Based on the distribution channel, the UAE luxury market has been segmented into mono-brand stores, multi-brand stores, online stores and others.
This report provides a deep insight into the UAE 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 UAE luxury industry in any manner.
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key Questions Answered in This Report:
How has the UAE luxury market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the UAE luxury market?
What is the breakup of the UAE luxury market on the basis of type?
What is the breakup of the UAE luxury market on the basis of gender?
What is the breakup of the UAE luxury market on the basis of distribution channel?
What is the value chain of the UAE luxury industry?
What are the key driving factors and challenges in the UAE luxury industry?
What is the competitive structure of the UAE luxury industry and who are the key players?
What is the degree of competition in the UAE luxury industry?
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
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 TABLES
Table 1: UAE: Luxury Market: Key Industry Highlights, 2021 and 2027
Table 2: UAE: Luxury Market Forecast: Breakup by Type (in Million US$), 2022-2027
Table 3: UAE: Luxury Market Forecast: Breakup by Gender (in Million US$), 2022-2027
Table 4: UAE: Luxury Market Forecast: Breakup by Distribution Channel (in Million US$), 2022-2027
Table 5: UAE: Luxury Market: Competitive Structure
Table 6: UAE: Luxury Market: Key Players
Table 1: UAE: Luxury Market: Key Industry Highlights, 2021 and 2027
Table 2: UAE: Luxury Market Forecast: Breakup by Type (in Million US$), 2022-2027
Table 3: UAE: Luxury Market Forecast: Breakup by Gender (in Million US$), 2022-2027
Table 4: UAE: Luxury Market Forecast: Breakup by Distribution Channel (in Million US$), 2022-2027
Table 5: UAE: Luxury Market: Competitive Structure
Table 6: UAE: Luxury Market: Key Players
LIST OF FIGURES
Figure 1: UAE: Luxury Market: Major Drivers and Challenges
Figure 2: UAE: Luxury Market: Sales Value (in Billion US$), 2016-2021
Figure 3: UAE: Luxury Market: Breakup by Type (in %), 2021
Figure 4: UAE: Luxury Market: Breakup by Gender (in %), 2021
Figure 5: UAE: Luxury Market: Breakup by Distribution Channel (in %), 2021
Figure 6: UAE: Luxury Market Forecast: Sales Value (in Billion US$), 2022-2027
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$), 2016 & 2021
Figure 11: UAE: Luxury Market Forecast (Travel and Hotel): Sales Value (in Million US$), 2022-2027
Figure 12: UAE: Luxury Market (Cars): Sales Value (in Million US$), 2016 & 2021
Figure 13: UAE: Luxury Market Forecast (Cars): Sales Value (in Million US$), 2022-2027
Figure 14: UAE: Luxury Market (Personal Luxury Goods): Sales Value (in Million US$), 2016 & 2021
Figure 15: UAE: Luxury Market Forecast (Personal Luxury Goods): Sales Value (in Million US$), 2022-2027
Figure 16: UAE: Luxury Market (Food and Drinks): Sales Value (in Million US$), 2016 & 2021
Figure 17: UAE: Luxury Market Forecast (Food and Drinks): Sales Value (in Million US$), 2022-2027
Figure 18: UAE: Luxury Market (Other Types): Sales Value (in Million US$), 2016 & 2021
Figure 19: UAE: Luxury Market Forecast (Other Types): Sales Value (in Million US$), 2022-2027
Figure 20: UAE: Luxury Market (Male): Sales Value (in Million US$), 2016 & 2021
Figure 21: UAE: Luxury Market Forecast (Male): Sales Value (in Million US$), 2022-2027
Figure 22: UAE: Luxury Market (Female): Sales Value (in Million US$), 2016 & 2021
Figure 23: UAE: Luxury Market Forecast (Female): Sales Value (in Million US$), 2022-2027
Figure 24: UAE: Luxury Market: Sales through Monobrand Stores (in Million US$), 2016 & 2021
Figure 25: UAE: Luxury Market Forecast: Sales through Monobrand Stores (in Million US$), 2022-2027
Figure 26: UAE: Luxury Market: Sales through Multibrand Stores (in Million US$), 2016 & 2021
Figure 27: UAE: Luxury Market Forecast: Sales through Multibrand Stores (in Million US$), 2022-2027
Figure 28: UAE: Luxury Market: Sales through Online Stores (in Million US$), 2016 & 2021
Figure 29: UAE: Luxury Market Forecast: Sales through Online Stores (in Million US$), 2022-2027
Figure 30: UAE: Luxury Market: Sales through Other Distribution Channels (in Million US$), 2016 & 2021
Figure 31: UAE: Luxury Market Forecast: Sales through Other Distribution Channels (in Million US$), 2022-2027
Figure 1: UAE: Luxury Market: Major Drivers and Challenges
Figure 2: UAE: Luxury Market: Sales Value (in Billion US$), 2016-2021
Figure 3: UAE: Luxury Market: Breakup by Type (in %), 2021
Figure 4: UAE: Luxury Market: Breakup by Gender (in %), 2021
Figure 5: UAE: Luxury Market: Breakup by Distribution Channel (in %), 2021
Figure 6: UAE: Luxury Market Forecast: Sales Value (in Billion US$), 2022-2027
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$), 2016 & 2021
Figure 11: UAE: Luxury Market Forecast (Travel and Hotel): Sales Value (in Million US$), 2022-2027
Figure 12: UAE: Luxury Market (Cars): Sales Value (in Million US$), 2016 & 2021
Figure 13: UAE: Luxury Market Forecast (Cars): Sales Value (in Million US$), 2022-2027
Figure 14: UAE: Luxury Market (Personal Luxury Goods): Sales Value (in Million US$), 2016 & 2021
Figure 15: UAE: Luxury Market Forecast (Personal Luxury Goods): Sales Value (in Million US$), 2022-2027
Figure 16: UAE: Luxury Market (Food and Drinks): Sales Value (in Million US$), 2016 & 2021
Figure 17: UAE: Luxury Market Forecast (Food and Drinks): Sales Value (in Million US$), 2022-2027
Figure 18: UAE: Luxury Market (Other Types): Sales Value (in Million US$), 2016 & 2021
Figure 19: UAE: Luxury Market Forecast (Other Types): Sales Value (in Million US$), 2022-2027
Figure 20: UAE: Luxury Market (Male): Sales Value (in Million US$), 2016 & 2021
Figure 21: UAE: Luxury Market Forecast (Male): Sales Value (in Million US$), 2022-2027
Figure 22: UAE: Luxury Market (Female): Sales Value (in Million US$), 2016 & 2021
Figure 23: UAE: Luxury Market Forecast (Female): Sales Value (in Million US$), 2022-2027
Figure 24: UAE: Luxury Market: Sales through Monobrand Stores (in Million US$), 2016 & 2021
Figure 25: UAE: Luxury Market Forecast: Sales through Monobrand Stores (in Million US$), 2022-2027
Figure 26: UAE: Luxury Market: Sales through Multibrand Stores (in Million US$), 2016 & 2021
Figure 27: UAE: Luxury Market Forecast: Sales through Multibrand Stores (in Million US$), 2022-2027
Figure 28: UAE: Luxury Market: Sales through Online Stores (in Million US$), 2016 & 2021
Figure 29: UAE: Luxury Market Forecast: Sales through Online Stores (in Million US$), 2022-2027
Figure 30: UAE: Luxury Market: Sales through Other Distribution Channels (in Million US$), 2016 & 2021
Figure 31: UAE: Luxury Market Forecast: Sales through Other Distribution Channels (in Million US$), 2022-2027
