Saudi Arabia Luxury Market Report 2025-2033: Luxury Cars Dominate Saudi Arabia's Expanding High-End Market

(MENAFN- GlobeNewsWire - Nasdaq) Saudi Arabia's luxury market, valued at USD 10.1 Billion in 2024, is projected to hit USD 23.3 Billion by 2033, growing at a 9.7% CAGR. E-commerce, rising disposable incomes, and luxury tourism boost the market. Female consumers and mono-brand stores dominate, while luxury cars lead category shares.

Dublin, July 04, 2025 (GLOBE NEWSWIRE) -- The "Saudi Arabia Luxury Market Report by Distribution Channel, Category, Gender 2025-2033" has been added to ResearchAndMarkets.com's offering.
The Saudi Arabia luxury market is projected to experience substantial growth, with its market size anticipated to climb from USD 10.1 billion in 2024 to USD 23.3 billion by 2033, driven by a compound annual growth rate (CAGR) of 9.7% during the period of 2025-2033. The expansion of the e-commerce sector coupled with the rise of upscale malls are key factors stimulating market growth across the country.

The economic growth in Saudi Arabia is fueled by increasing disposable incomes and a stable banking and financial system. This prosperity has sparked demand for luxury goods, including cars, watches, fragrances, and leather products. The younger population is a significant driving force in the luxury industry's expansion. The country's world-class hospitality sector, with opulent hotels and resorts, further boosts market growth, along with advancements in infrastructure, internet penetration, and tourism.

The Government of Saudi Arabia is progressing with the development of four economic cities aimed at boosting domestic trade, attracting foreign direct investment (FDI), and diversifying the economy. This strategy has significantly impacted the luxury products market. Noteworthy luxury brands like Prada, Tiffany, and Mulberry are enhancing their presence by launching exclusive stores that cater to regional preferences, alongside new product lines to target middle and upper-middle-class consumers.

Upscale malls offer luxury brands increased opportunities for growth. Social media's influence on brand connection and the ease of online luxury shopping contribute to industry expansion. Luxury tourism is emerging as a key trend, with investments in tourism infrastructure drawing high-spending travelers. The Vision 2030 plan is pivotal in reducing oil dependence, facilitating market growth. Visa regulation relaxation invites international luxury tourists, boosting luxury tourism's attractiveness through events like the Formula E Championship and Diriyah Season.

The robust growth in e-commerce has transformed the luxury market. Rising internet access encourages luxury product purchases online, expanding reach to remote consumers. The luxury e-commerce trend aligns with the shifting consumer preferences of the younger demographic, fostering acceptance of online luxury shopping due to the diverse product availability and curated luxury platforms.

Research highlights market trends and forecasts for the Saudi Arabia luxury market from 2025 to 2033, segmenting by distribution channel, category, and gender. Mono-brand stores dominate the distribution segment, emphasizing brand-specific shopping experiences, and ensuring brand image continuity. Cars lead in the category segment, reflecting cultural prestige and growing disposable incomes enabling luxury car acquisitions.

In terms of gender, females enjoy the largest market share. Shifting societal norms, increased female workforce participation, and rising disposable incomes are pivotal. Luxury brands tailor marketing strategies towards women, capitalizing on social media and influencer culture.

The competitive market landscape is defined by companies establishing flagship stores in major cities, adapting products to cultural preferences, and growing e-commerce presence to enhance shopping experiences.

The report delivers a comprehensive analysis of market competition, including detailed profiles of major companies.

Key Attributes:

Report Attribute	Details
No. of Pages	117
Forecast Period	2024 - 2033
Estimated Market Value (USD) in 2024	$10.1 Billion
Forecasted Market Value (USD) by 2033	$23.3 Billion
Compound Annual Growth Rate	9.7%
Regions Covered	Saudi Arabia

Key Topics Covered:

Preface

Scope and Methodology

• Objectives of the Study
• Stakeholders
• Data Sources
• Market Estimation
• Forecasting Methodology

Executive Summary

Introduction

• Overview
• Key Industry Trends

Saudi Arabia Luxury Market

• Market Overview
• Market Performance
• Impact of COVID-19
• Market Breakup by Category
• Market Breakup by Gender
• Market Breakup by Distribution Channel
• Market Forecast
• SWOT Analysis
• Value Chain Analysis
• Porter's Five Forces Analysis
• Key Success and Risk Factors

Market Performance by Category

• Travel and Hotel
• Cars
• Personal Luxury Goods
• Food and Drinks
• Others

Market Performance by Gender

• Male
• Female

Market Performance by Distribution Channel

• Mono-brand Stores
• Multi-brand Stores
• Online Stores
• Others

Competitive Landscape

• Market Structure
• Key Players
• Profiles of Key Players

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Attachment

• Saudi Arabian Luxury Market

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