Saudi Arabia Gems and Jewelry Market Overview, 2031

Saudi Arabia’s gems and jewellery market has evolved into one of the most lucrative and vibrant in the Middle East, driven by the region's increasing affluence, cultural significance of jewellery, and a growing appetite for luxury goods. Over the years, the demand for high-end and personalized jewellery has surged, particularly among the young, wealthy population and expatriates who are drawn to the Kingdom’s cosmopolitan cities like Riyadh and Jeddah. As Saudi Arabia embraces modernization through its Vision 2030 initiative, the jewellery market has seen a shift from traditional designs towards more innovative and bespoke creations. The country's unique position as a global trading hub has led to the importation of premium gemstones like emeralds, rubies, and diamonds, which are crafted into stunning pieces by both local and international jewellers. Luxury shopping malls, such as Kingdom Centre and Red Sea Mall, have become key destinations, offering a mix of global luxury brands like Cartier and Tiffany & Co., alongside high-quality Saudi brands like L'azurde, which is one of the largest jewellery manufacturers in the region. Moreover, Saudi jewellery trends are influenced by cultural and religious events, with significant demand for bridal jewellery and pieces meant for special occasions, making it a booming segment in the local market.

According to the research report, "Saudi Arabia Gems and Jewellery Market Outlook, 2031," published by Bonafide Research, the Saudi Arabia Gems and Jewellery market is anticipated to add to more than USD 6.26 Billion by 2026–31. In recent years, Saudi Arabia has experienced significant changes in its jewellery market, particularly with the younger generation’s rising influence. While gold jewellery remains highly popular, there has been an increasing shift towards luxury and ethically sourced pieces, such as lab-grown diamonds and recycled materials. Local designers and international brands alike are catering to this demand by integrating sustainable practices into their production processes. Notably, Areej Al Otaiba is one of the local brands focusing on eco-friendly jewellery, while global luxury players like Bvlgari continue to dominate high-end sales. The increasing influence of social media in shaping fashion trends, especially on platforms like Instagram, has led to a rise in demand for customized jewellery that reflects personal style and unique stories. Bridal jewellery remains an evergreen segment in Saudi Arabia’s market, with consumers increasingly looking for exclusive, one-of-a-kind designs for weddings and engagements. Furthermore, Saudi Arabia’s strategic location between Europe, Asia, and Africa makes it a critical player in the global gemstone trade, with gemstone mining becoming a growing focus for some local suppliers. As Saudi Arabia continues to modernize and diversify its economy, the jewellery sector is expected to expand even further, tapping into the lucrative luxury market while maintaining its cultural ties to craftsmanship and tradition.

Gold holds a significant position in Saudi Arabia's jewellery market due to both its cultural importance and status as a store of wealth. Historically, gold has been an integral part of Saudi culture, used in everything from traditional bridal jewellery to daily adornment. The country’s rich gold reserves, particularly in the cities of Jeddah and Riyadh, contribute to its dominance in the local jewellery sector. Gold is particularly favored for its symbolic value in weddings, where gold jewellery is not only considered an essential part of the bridal trousseau but also a representation of wealth and prosperity. The preference for 21k and 22k gold is strong in Saudi Arabia, as these higher karats offer a rich yellow hue and are regarded as purer and more valuable. Recently, there has also been an increasing demand for white and rose gold, particularly for engagement rings and modern jewellery designs. Additionally, Saudi Arabia's jewellery market has embraced international trends, with high-end designers incorporating gemstones and diamonds into their gold collections. The growing middle class and increasing disposable incomes have further fueled the demand for high-quality gold jewellery, making it the leading material in the country’s gems and jewellery sector.

Rings, particularly engagement rings and wedding bands, are key products in Saudi Arabia’s jewellery market. Engagement rings, often featuring diamonds and precious gemstones, hold immense cultural and social significance in Saudi society. Many couples in the Kingdom opt for luxurious rings to mark their commitment, with a strong preference for high-quality diamonds, often from renowned international brands. The demand for bespoke engagement rings has risen in recent years, with couples seeking personalized designs that reflect their individual styles. Saudi jewelers, such as Al Haramain Jewellery and L’azurde, are well-known for creating exquisite rings that combine traditional elements with modern aesthetics. Wedding bands are also highly prized, with gold and platinum being the most popular metals. The rings are often crafted with intricate designs, showcasing the rich artistry of local craftsmen. The trend toward customization has also extended to rings, with more consumers opting for unique, one-of-a-kind pieces that represent personal or familial connections. As Saudi Arabia’s youth becomes more influenced by global trends, there has been a growing interest in diamond alternatives and ethically sourced gemstones, but rings remain at the core of the Kingdom’s jewellery market.

Weddings in Saudi Arabia are grand celebrations that feature significant use of jewellery, particularly gold. The bridal jewellery set, which includes rings, necklaces, bracelets, and earrings, is a focal point of the wedding ceremony. Gold, in particular, plays a vital role in these celebrations, where it is traditionally gifted by the groom's family to the bride as part of the dowry. The bride’s jewellery is often passed down through generations, symbolizing heritage and family wealth. In cities like Riyadh and Jeddah, wedding jewellery is often customized to meet the specific tastes of the couple, with engagement rings typically being large, elaborate, and featuring diamonds or other precious stones. Saudi couples also tend to favor luxurious gold necklaces and bracelets for their wedding day, with many opting for custom designs that reflect the opulence of the occasion. As weddings are often multi-day affairs, jewellery plays a significant role not only on the wedding day but also during related pre-wedding celebrations, such as the henna ceremony. The rising trend toward sustainable and ethically sourced jewellery has also begun to influence wedding jewellery choices, with a growing number of young Saudi couples turning to certified conflict-free diamonds and eco-friendly gold. As the wedding industry in Saudi Arabia continues to grow, so too does the demand for high-end, customized, and culturally significant jewellery that represents both personal and familial values.



Jewelry stores in Saudi Arabia are crucial in the distribution of fine jewellery, especially in major cities such as Riyadh, Jeddah, and Dammam. Renowned local jewellery brands such as L’azurde and Al Haramain Jewellery dominate the market, offering a wide range of gold and diamond pieces, as well as exclusive collections crafted by skilled artisans. These stores have gained a strong reputation for providing high-quality, luxurious jewellery that caters to the refined tastes of the Kingdom’s affluent clientele. The growth of retail chains has made jewellery more accessible across the country, and in addition to large shopping malls, standalone jewellery boutiques are increasingly popular, especially in upscale districts. While traditional brick-and-mortar jewellery stores remain dominant, online retail has begun to carve out a niche. Many established jewellers now offer online shopping platforms, which cater to a younger generation that prefers the convenience of shopping from home. Websites like Joyalukkas and other regional retailers have capitalized on this trend by providing detailed product information and virtual try-on features to attract online shoppers. In-store experiences remain essential, with many high-end jewellery stores offering personalized consultations, custom design services, and exclusive collections. The demand for luxury jewellery in Saudi Arabia is strongly supported by the high levels of disposable income in the Kingdom, and both online and offline channels continue to thrive as consumers seek the finest in jewellery.

Considered in this report
• Historic Year: 2020
• Base year: 2025
• Estimated year: 2026
• Forecast year: 2031

Aspects covered in this report
• Gems and Jewelry Market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Material
• Gold
• Silver
• Platinum
• Diamond
• Others(Gemstones, palladium, titanium, bronze, copper, brass)

By Product
• Rings
• Necklaces
• Earrings
• Bracelets
• Chains and Pendants
• Others(brooches, cufflinks, and hair accessories)

By Application
• Weddings
• Collections
• Festive Blessing
• Fashions
• Others(birthdays, graduations, or religious holidays. )

By Distribution Channel
• Jewelry Stores
• Multi Branded Stores
• Standalone
• Online