GCC Luxury Market 2022-2027: Size, Share, Growth, Industry Analysis and Forecast | Syndicated Analytics

 

GCC Luxury Market: Market Size, Share, Trends, Industry Analysis, Application Analysis, Growth and Forecast, 2022-2027” provides a deep and thorough evaluation of the GCC luxury market based on its segments including type, end-use, and region. The report tracks the latest industry trends and analyses their overall impact on the market. It also evaluates the market dynamics, which cover the key demand and price indicators, and studies the market on the basis of the SWOT and Porter's Five Forces models.

Report Metrics
Historical Year: 2016-2021
Base Year: 2021
Forecast Year: 2022-2027

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Luxury goods, also known as superior goods, represent products related to wealth and exclusivity. These lifestyle items are not essential for a living but are pleasant to possess. They differ from necessity services based on their properties, such as rarity, symbolism, quality, etc. Presently, there are several luxury service providers, including hotels, restaurants, clubs, etc., operating in the GCC region who are targeting wealthy and discerning consumers. Some of the commonly available luxury goods in the market include watches, bags, cars, jewelry, fragrances, etc.

Note: Our analysts are continuously monitoring the influence of the COVID-19 pandemic on the market. This insightful information is included in the report to improve the efficiency, resilience, and overall performance of businesses.

GCC Luxury Market Industry Trends and Drivers:

The inflating levels of disposable income and the growing consumer inclination towards international brands are primarily driving the GCC luxury market. Additionally, the rising influence of social media platforms, such as YouTube, Facebook, Instagram, etc., the emerging western fashion trends, and the increasing popularity of mono-brand stores in the malls and shopping areas are further catalyzing the market growth. Besides this, the expanding tourism sector, particularly in Dubai and UAE, the relaxed trade barriers with developed countries, and the easy availability of luxury goods across online retail platforms are acting as significant growth-inducing factors. Moreover, the high prevalence of celebrity endorsements, the development of authentication procedures and quality check systems for providing a safe and reliable environment for customers, the introduction of limited capsule collections and fashion drops, etc., are also positively influencing the regional market. Apart from this, the widespread adoption of various advanced technologies to minimize the risk of product replication by counterfeiters is anticipated to fuel the GCC luxury market over the forecasted period.

Browse complete report with tables of contents and list of figures & tables: https://www.syndicatedanalytics.com/gcc-luxury-market

GCC Luxury Market Segmentation:

 The market is segmented on the basis of type, end-use, and region.

• Type
• End-use
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Competitive Landscape:

The report also provides insights on the competitive landscape of luxury with the leading players profiled in the report.

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