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Saudi Arabia Gold and Diamond Jewelry

Publisher UnivDatos Market Insights
Published Aug 01, 2025
Length 85 Pages
SKU # Univ20387075

Description

Gold and diamond jewelry is a type of jewelry primarily composed of gold and set with genuine diamonds or synthetic diamonds, such as rings, necklaces, earrings, bracelets, and pendants. It is used both decoratively and for investment. It holds significant cultural and financial importance, particularly in places such as Saudi Arabia, where it forms part of the social customs, wedding customs, and gift-giving traditions of the people.

The Saudi Arabia Gold and Diamond Jewelry market is expected to show a growth rate of 10.10% during the forecast period (2025-2033F) due to the high disposable income, a cultural preference for gold, rising female employment, and increasing tourism. Furthermore, the demand includes growing e-commerce penetration and brand awareness of premium brands. Moreover, Vision 2030 is localization-based, promoting the growth of the manufacturing and retail sectors. Therefore, the fashion trends promoted by young people are influencing product innovation and marketing.

On April 8, 2025, GJEPC announced to organise SAJEX 2025– The Saudi Arabia Jewellery Exposition from 11 to 13 September 2025 at Jeddah Superdome. It will be the first dedicated B2B gem & jewellery show in the Kingdom of Saudi Arabia. Backed by Vision 2030: SAJEX aligns with the Kingdom’s ambitious economic diversification plan, making it the ideal time to enter this flourishing market.
  • Based on the type, the market is segmented into gold jewelry, diamond jewelry, and lab-grown diamonds. Among these, the gold jewelry segment dominated the market share in 2024 due to the Saudi jewelry industry's reliance on gold, which holds significant religious and cultural significance. It is still the preferred practice at weddings to give dowries and gifts during the festive season, ensuring constant demand throughout the year. The fact that it serves as a fashion accessory and a financial asset also makes it a significant growth factor. In the last five years, Saudi Arabia used 228.1 tonnes of gold, according to the World Gold Council (WGC), as of April 1, 2025. People bought 167.1 tonnes as jewelry and 61 tonnes as gold bars and coins. Gold jewelry demand increased from 22.7 tonnes in 2020 to a peak of 38.1 tonnes in 2023, helped by post-pandemic recovery and strong interest. However, in 2024, it dropped slightly to 35 tonnes. Gold bars and coins have been selling more each year since 2020, reaching 15.4 tonnes in 2024—the highest since 2014, when it was 15.6 tonnes. This shows people in Saudi Arabia still see gold as a good investment.
  • Based on product, the Saudi Arabian Gold and Diamond Jewelry market is segmented into necklaces, rings, earrings, bracelets, and others. Among them, the rings are expected to grow with the highest CAGR during the forecast period (2025-2033F). The rings are becoming increasingly popular among customers, as they wear them in their daily lives and as part of their style. The fact that more people are engaging in self-purchasing and experiencing increased instances of gifting, such as engagements and anniversaries, helps keep demand steady. They also have a lower ticket size, making them more affordable and allowing brands to reach a broader range of customers.
  • Based on the sales channel, the market is segmented into offline and online. The online segment is expected to grow with a considerable CAGR during the forecast period (2025-2033F). The online jewelry market is expanding rapidly, driven by increasing internet penetration and the growing adoption of smartphones. Additionally, digital platforms are preferred because they are convenient, offer more options, and are more transparent to younger consumers. To establish credibility, brands are investing in virtual shops, verified payment gateways, and certification assurances. Moreover, social media marketing and the use of influencers enhance coverage and online sales. For example, in May 2024, BigCommerce announced that L’azurde Company had been introduced on the BigCommerce platform. L'azurde recognized that a compelling online storefront was pivotal to their digital transformation.
  • For a better understanding of the market adoption of the Saudi Arabia Gold and Diamond Jewelry market, it is analyzed based on its regional presence in Saudi Arabia, including the Central Region, Western Region, Eastern Region, Southern Region, and Northern Region. The Central Region held a dominant market share in 2024. In the case of gold and diamond jewelry, the Central region, led by Riyadh, has the highest share of this market due to its concentration of wealth and urbanization. It is the location of the headquarters of leading national jewelry brands and is also home to high-quality foreign brands. Additionally, high-value consumers, high-quality and luxury shopping districts, and large shopping malls all contribute to high-value purchases. Cultural events, such as weddings, spur demand; however, the emerging trend of self-purchase by professionals is also proving to be a significant contributor to the rising demand. Other government projects, such as Vision 2030, are also promoting the creation of local production points in this region. Consequently, companies prioritize Riyadh when launching products and flagship stores. On June 2, 2025, Damiani unveiled its very first boutique in Riyadh, the capital of the Kingdom of Saudi Arabia, in the iconic Solitaire Mall.
  • The new boutique of 150sqm follows the new global store concept, characterised by a new design and original decor that pays tribute to the Maison’s quintessential Italian origins, expressed through meticulously designed spaces and the choice of precious materials. The boutique draws inspiration from the refined atmosphere of a luxurious Italian home, a place that reflects the brand’s iconic style, where jewelry lovers can discover the Maison’s creations in a bright, comfortable, and homely environment.
  • Some major players running in the market include L'azurde, Najd Deer, Al Romaizan Gold & Jewellery, MADINA JEWELLERY, Charmaleena Jewellery, Abdulaziz Jewelry and Diamonds, Mouawad MENA DMCC, Al Yamama Jewellers, Dalal Jewelry, and Glow by Dana Alalami.

Table of Contents

85 Pages
1 Market Introduction
1.1. Market Definitions
1.2. Main Objective
1.3. Stakeholders
1.4. Limitation
2 Research Methodology or Assumptions
2.1. Research Process of the Saudi Arabia Gold and Diamond Jewelry Market
2.2. Research Methodology of the Saudi Arabia Gold and Diamond Jewelry Market
2.3. Respondent Profile
3 Executive Summary
3.1. Industry Synopsis
3.2. Segmental Outlook
3.2.1. Market Growth Intensity
3.3. Regional Outlook
4 Market Dynamics
4.1. Drivers
4.2. Opportunity
4.3. Restraints
4.4. Trends
4.5. PESTEL Analysis
4.6. Demand Side Analysis
4.7. Supply Side Analysis
4.7.1. Merger & Acquisition
4.7.2. Investment Scenario
4.7.3. Industry Insights: Leading Startups and Their Unique Strategies
5 Pricing Analysis
5.1. Price Influencing Factors
6 Saudi Arabia Gold and Diamond Jewelry Market Revenue (USD Mn), 2023-2033F
7 Market Insights By Type
7.1. Gold Jewelry
7.2. Diamond Jewelry
7.3. Lab-Grown Diamonds
8 Market Insights By Product
8.1. Necklaces
8.2. Rings
8.3. Earrings
8.4. Bracelets
8.5. Others
9 Market Insights By Sales Channel
9.1. Offline
9.2. Online
10 Market Insights By Region
10.1. Central Region
10.2. Western Region
10.3. Eastern Region
10.4. Southern Region
10.5. Northern Region
11 Value Chain Analysis
11.1. Marginal Analysis
11.2. List of Market Participants
12 Competitive Landscape
12.1. Competition Dashboard
12.2. Competitor Market Positioning Analysis
12.3. Porter Five Forces Analysis
13 Company Profiles
13.1. L'azurde
13.1.1. Company Overview
13.1.2. Key Financials
13.1.3. SWOT Analysis
13.1.4. Product Portfolio
13.1.5. Recent Developments
13.2. Najd Deer
13.3. Al Romaizan Gold & Jewellery
13.4. MADINA JEWELLERY
13.5. Charmaleena Jewellery
13.6. Abdulaziz Jewelry and Diamonds
13.7. Mouawad MENA DMCC
13.8. Al Yamama Jewellers
13.9. Dalal Jewelry
13.10. Glow by Dana Alalami
14 Acronyms & Assumptions
15 Annexure

Pricing

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