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GCC Luxury Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023

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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 2017, the GCC luxury market was worth more than US$ 32.5 Billion.

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 regions 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. Looking forward, the market is expected to reach sales worth nearly US$ 50.6 Billion by 2023, exhibiting a CAGR of approximately 8% during 2018-2023.

Market Summary:

On the basis of region, the market has been segmented into six regions, GCC, UAE, Kuwait, Qatar, Oman and Bahrain. GCC and UAE are the prominent regions.
Based on the type, the market has been segmented into travel and hotels, cars, personal luxury goods, food and drinks. Currently, the travel and hotels category dominates this market followed by cars, personal luxury goods, and food and drinks.
On the basis of gender, males dominated the market.
Based on the distribution channel, the GCC luxury market has been segmented into mono-brand stores, multi-brand Store, online stores and others.

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, Porters 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:

How has the GCC luxury market performed so far and how will it perform in the coming years?
What is the breakup of the GCC luxury market on a regional basis?
What are the leading product segments in the GCC luxury market?
What is the breakup of the GCC luxury market on the basis of gender?
What is the breakup of the GCC luxury market on the basis of distribution channel?
What is the value chain of the GCC luxury industry?
What are the key driving factors and challenges in the GCC luxury market?
What is the competitive structure of the GCC luxury industry and who are the key players?
What is the degree of competition in the GCC 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 GCC Luxury Market
5.1 Market Overview
5.2 Market Performance
5.3 Market Breakup by Region
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
5.10 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
6 Market Performance by Region
6.1 Saudi Arabia
6.2 United Arab Emirates
6.3 Qatar
6.4 Kuwait
6.5 Oman
6.6 Bahrain
7 Market Performance by Type
7.1 Travel and Hotels
7.2 Cars
7.3 Personal Luxury Goods
7.4 Food and Drinks
7.5 Others
8 Market Performance by Gender
8.1 Male
8.2 Female
9 Market Performance by Distribution Channel
9.1 Monobrand Stores
9.2 Multibrand Stores
9.3 Online
9.4 Others
10 Competitive Landscape
10.1 Market Structure
10.2 Key Players

List Of Tables

Figure 1: GCC: Luxury Market: Major Drivers and Challenges
Figure 2: GCC: Luxury Market: Sales Value (in US$ Billion), 2010-2017
Figure 3: GCC: Luxury Market: Breakup by Region (in %), 2017
Figure 4: GCC: Luxury Market: Breakup by Type (in %), 2017
Figure 5: GCC: Luxury Market: Breakup by Gender (in %), 2017
Figure 6: GCC: Luxury Market: Breakup by Distribution Channel (in %), 2017
Figure 7: GCC: Luxury Market Forecast: Value Trends (in US$ Billion), 2018-2023
Figure 8: GCC: Luxury Industry: SWOT Analysis
Figure 9: GCC: Luxury Industry: Value Chain Analysis
Figure 10: GCC: Luxury Industry: Porters Five Forces Analysis
Figure 11: Saudi Arabia: Luxury Market: Sales Value (in US$ Million), 2010, 2017 & 2023
Figure 12: Saudi Arabia: Luxury Market: Sales Value (in US$ Million), 2010, 2017 & 2023
Figure 13: Qatar: Luxury Market: Sales Value (in US$ Million), 2010, 2017 & 2023
Figure 14: Kuwait: Luxury Market: Sales Value (in US$ Million), 2010, 2017 & 2023
Figure 15: Oman: Luxury Market: Sales Value (in US$ Million), 2010, 2017 & 2023
Figure 16: Bahrain: Luxury Market: Sales Value (in US$ Million), 2010, 2017 & 2023
Figure 17: GCC: Luxury Market (Travel and Hotel): Sales Value (in US$ Million), 2010, 2017 & 2023
Figure 18: GCC: Luxury Car Market: Sales Value (in US$ Million), 2010, 2017 & 2023
Figure 19: GCC: Personal Luxury Goods Market: Sales Value (in US$ Million), 2010, 2017 & 2023
Figure 20: GCC: Food and Drinks Luxury Market: Sales Value (in US$ Million), 2010, 2017 & 2023
Figure 21: GCC: Other Luxury Market: Sales Value (in US$ Million), 2010, 2017 & 2023
Figure 22: GCC: Male Luxury Market: Sales Value (in US$ Million), 2010, 2017 & 2023
Figure 23: GCC: Female Luxury Market: Sales Value (in US$ Million), 2010, 2017 & 2023
Figure 24: GCC: Mono-brand Stores Luxury Market: Sales Value (in US$ Million), 2010, 2017 & 2023
Figure 25: GCC: Multi-brand Stores Luxury Market: Sales Value (in US$ Million), 2010, 2017 & 2023
Figure 26: GCC: Online Luxury Market: Sales Value (in US$ Million), 2010, 2017 & 2023
Figure 26: GCC: Other Luxury Market: Sales Value (in US$ Million), 2010, 2017 & 2023

List Of Figures

Table 1: GCC: Luxury Market: Key Industry Highlights, 2017 and 2023
Table 3: GCC: Luxury Market Forecast: Breakup by Region (in US$ Million), 2018-2023
Table 3: GCC: Luxury Market Forecast: Breakup by Type (in US$ Million), 2018-2023
Table 4: GCC: Luxury Market Forecast: Breakup by Gender (in US$ Million), 2018-2023
Table 5: GCC: Luxury Market Forecast: Breakup by Distribution Channel (in US$ Million), 2018-2023
Table 6: GCC: Luxury Market: Competitive Structure
Table 7: GCC: Luxury Market: Key Players

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Reports Details

Published Date : Apr 2018
No. of Pages :72
Country :Global
Category :Retail
Publisher :IMARC Group
Report Delivery By :Email
Report Delivery Time :12 to 24 hours after placing the order.

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