Imitation Jewellery Market in Saudi Arabia
Market Overview
The Saudi imitation jewellery market declined to $
in , dropping by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $. From to , the growth of the market failed to regain momentum.
in , dropping by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $. From to , the growth of the market failed to regain momentum.Consumption
In , consumption of imitation jewelry increased by % to tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption, however, recorded a deep slump. As a result, consumption attained the peak volume of tons. From to , the growth of the consumption failed to regain momentum.
The value of the imitation jewellery market in Saudi Arabia fell to $ in , dropping by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $. From to , the growth of the market failed to regain momentum.
, consumption of imitation jewelry increased by % to tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption, however, recorded a deep slump. As a result, consumption attained the peak volume of tons. From to , the growth of the consumption failed to regain momentum.The value of the imitation jewellery market in Saudi Arabia fell to $
in , dropping by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $. From to , the growth of the market failed to regain momentum.Market Forecast
Depressed by shrinking demand for imitation jewellery in Saudi Arabia, the market is expected to continue its downward consumption trend over the next eight years. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to depress the market volume to tons by the end of .
In value terms, the market is forecast to contract with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .
% for the period from to , which is projected to depress the market volume to tons by the end of .In value terms, the market is forecast to contract with an anticipated CAGR of +
% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .Market Structure
Imitation jewellery market in Saudi Arabia consists almost entirely of imported products. In recent years, import price have increased sharply. Despite the hike in price, Saudi Arabia relies completely on foreign supplies: the volume of domestic output remains insufficient to satiate market demand.
Trade Balance
Saudi Arabia remains a net importer of imitation jewellery; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
. In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
Download XLSX
Download all the data in the form of a report