Research and Markets: UAE Gems and Jewelry Market Forecast and Opportunities, 2019

Australia Today

DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/l3r5zb/uae_gems_and) has announced the addition of the "UAE Gems and Jewelry Market Forecast and Opportunities, 2019" report to their offering.

According UAE Gems and Jewelry Market Forecast & Opportunities, 2019, the gems and jewelry market in the UAE is expected grow at more than 7% till 2019.

Over the last decade, the UAE has emerged as one of the major gems and jewelry markets, globally, thereby offering significant growth opportunities for the domestic as well as international players explore the untapped market potential. The demand for designer and branded jewelry is growing in the region due the increasing purchasing power and growing demand for premium products from the country's HNWI population. Gems and jewelry companies are increasingly investing in the country and coming up with new designs, besides selling their products through a large number of distribution channels including exclusive showrooms, Dubai Gold Souk, online retail, etc.

Gold jewelry accounts for the largest share in the country's gems and jewelry market, followed by diamond and platinum jewelry. On the other hand, the demand for precious gem stones is also growing, predominantly due a growing number of young consumers preferring them over yellow metal.

Among the leading gems and jewelry manufacturers in the country, Damas International currently dominates the market, followed by Joyallukas, Tiffany & Co., Titan International and Geetanjali Gems. Dubai and Abu Dhabi are the largest revenue generators in the country's gems and jewelry market due increasing number of companies in these cities coupled with growing tourism and rising number of retail outlets.

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