Market Overview:
The global consumer luxury goods market is expected to grow at a CAGR of 5.8% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing disposable income of consumers, rising demand for luxury goods in developing countries, and growing online sales of luxury goods. The apparel segment is expected to account for the largest share of the global consumer luxury goods market in 2018, followed by bags and accessories, cosmetics, watches and jewelry, and others segments. The online sales segment is expected to grow at a higher CAGR than the offline sales segment during the forecast period. North America accounted for the largest share of the global consumer luxury goods market in 2017; however, Asia Pacific is projected to grow at a higher CAGR during the forecast period owing to rising income levels and growing demand for premium products in countries such as China and India.
Product Definition:
A type of good that is not necessary for survival but is instead seen as a luxury, such as designer clothes or jewelry. Consumer luxury goods are important because they can help to improve the quality of someone's life and make them feel more comfortable and confident. They can also be a way to show off one's wealth or status.
Apparel:
Apparel is a type of clothing which covers the body from head to foot. It can be used for different purposes such as protection, fashion, comfort or exercise. The primary function of apparel is to provide the wearer with enhanced comfort and increased thermal efficiency. Apparel has been witnessing significant demand from the fast-growing consumer luxury goods sector over the past few years owing to changing lifestyles and increasing disposable income among consumers across various regions globally.
Bags and Accessories:
Bags and accessories are the part of consumer luxury goods that include handbags, luggage, suitcases, backpacks and other travel bags. Bags act as a protective casing for the product inside. They have different compartments to store various products such as electronic gadgets or personal belongings. Some bags also have zippers or lids to protect the contents from dust and external impact.
Application Insights:
The consumer luxury goods are purchased by individuals who have a high income and spend on personal care products, apparel, accessories and jewelry. The application of the product is based on where the consumers live. For instance, in countries like U.S., China, Japan or Germany where online sales account for a major share of the total revenue generated by these markets; then it can be presumed that online sales will continue to grow at significant rates over the forecast period as well.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to retain its dominance over the forecast period as well, owing to high disposable income and improved standard of living. Furthermore, increasing demand for luxury consumer goods from emerging economies such as China and India will drive growth in this region. Asia Pacific is anticipated to witness significant growth over the next eight years due to improving economic conditions and rising disposable income levels in countries like China, Japan, Singapore, South Korea & India among others.
Growth Factors:
- Increasing disposable income of consumers: The growth in the consumer luxury goods market is mainly attributed to the increase in disposable income of consumers, especially in developing countries. This has led to an increase in demand for high-end products and services.
- Rise in number of high net worth individuals (HNIs): There has been a rise in the number of HNIs across the world, who are increasingly spending on luxury goods and services. This is providing a major impetus to the growth of the consumer luxury goods market.
- Proliferation of online retail channels: The proliferation of online retail channels has made it easier for consumers to purchase luxury products and services at their convenience. This is aiding the growth of the consumer luxury goods market significantly.
- . Growing trend towards experiential consumption: There is a growing trend among consumers towards experiential consumption, wherein they seek unique experiences that can be enjoyed with friends or family members. Luxury brands are capitalizing on this trend by offering exclusive experiences such as VIP access to events, concerts, etc., which is helping them boost their sales significantly . 5) Innovation & creativity: Consumer demand for new and innovative products continues to drive innovation within the global luxury sector
Scope Of The Report
Report Attributes
Report Details
Report Title
Consumer Luxury Goods Market Research Report
By Type
Apparel, Bags and Accessories, Cosmetics, Watches and Jewelry, Others
By Application
Online Sales, Offline Sales
By Companies
LVMH, Estee Lauder, Richemont, Essilor International S.A., Kering, L'Oreal Luxe, The Swatch Group, Ralph Lauren, PVH, Chow Tai Fook Jewellery, Hermes, Rolex, Lao Feng Xiang, Michael Kors, Tapestry (Coach), Tiffany, Shiseido, Burberry, Prada, Pandora
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
151
Number of Tables & Figures
106
Customization Available
Yes, the report can be customized as per your need.
Global Consumer Luxury Goods Market Report Segments:
The global Consumer Luxury Goods market is segmented on the basis of:
Types
Apparel, Bags and Accessories, Cosmetics, Watches and Jewelry, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Online Sales, Offline Sales
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- LVMH
- Estee Lauder
- Richemont
- Essilor International S.A.
- Kering
- L'Oreal Luxe
- The Swatch Group
- Ralph Lauren
- PVH
- Chow Tai Fook Jewellery
- Hermes
- Rolex
- Lao Feng Xiang
- Michael Kors
- Tapestry (Coach)
- Tiffany
- Shiseido
- Burberry
- Prada
- Pandora
Highlights of The Consumer Luxury Goods Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Apparel
- Bags and Accessories
- Cosmetics
- Watches and Jewelry
- Others
- By Application:
- Online Sales
- Offline Sales
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Consumer Luxury Goods Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Consumer luxury goods are items that are typically associated with a high level of spending or quality. These items may include expensive clothing, accessories, and home decor.
Some of the key players operating in the consumer luxury goods market are LVMH, Estee Lauder, Richemont, Essilor International S.A., Kering, L'Oreal Luxe, The Swatch Group, Ralph Lauren, PVH, Chow Tai Fook Jewellery, Hermes, Rolex, Lao Feng Xiang, Michael Kors, Tapestry (Coach), Tiffany, Shiseido, Burberry, Prada, Pandora.
The consumer luxury goods market is expected to grow at a compound annual growth rate of 5.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Consumer Luxury Goods Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Consumer Luxury Goods Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Consumer Luxury Goods Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Consumer Luxury Goods Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Consumer Luxury Goods Market Size & Forecast, 2018-2028
4.5.1 Consumer Luxury Goods Market Size and Y-o-Y Growth
4.5.2 Consumer Luxury Goods Market Absolute $ Opportunity
Chapter 5 Global Consumer Luxury Goods Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Consumer Luxury Goods Market Size Forecast by Type
5.2.1 Apparel
5.2.2 Bags and Accessories
5.2.3 Cosmetics
5.2.4 Watches and Jewelry
5.2.5 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Consumer Luxury Goods Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Consumer Luxury Goods Market Size Forecast by Applications
6.2.1 Online Sales
6.2.2 Offline Sales
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Consumer Luxury Goods Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Consumer Luxury Goods Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Consumer Luxury Goods Analysis and Forecast
9.1 Introduction
9.2 North America Consumer Luxury Goods Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Consumer Luxury Goods Market Size Forecast by Type
9.6.1 Apparel
9.6.2 Bags and Accessories
9.6.3 Cosmetics
9.6.4 Watches and Jewelry
9.6.5 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Consumer Luxury Goods Market Size Forecast by Applications
9.10.1 Online Sales
9.10.2 Offline Sales
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Consumer Luxury Goods Analysis and Forecast
10.1 Introduction
10.2 Europe Consumer Luxury Goods Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Consumer Luxury Goods Market Size Forecast by Type
10.6.1 Apparel
10.6.2 Bags and Accessories
10.6.3 Cosmetics
10.6.4 Watches and Jewelry
10.6.5 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Consumer Luxury Goods Market Size Forecast by Applications
10.10.1 Online Sales
10.10.2 Offline Sales
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Consumer Luxury Goods Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Consumer Luxury Goods Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Consumer Luxury Goods Market Size Forecast by Type
11.6.1 Apparel
11.6.2 Bags and Accessories
11.6.3 Cosmetics
11.6.4 Watches and Jewelry
11.6.5 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Consumer Luxury Goods Market Size Forecast by Applications
11.10.1 Online Sales
11.10.2 Offline Sales
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Consumer Luxury Goods Analysis and Forecast
12.1 Introduction
12.2 Latin America Consumer Luxury Goods Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Consumer Luxury Goods Market Size Forecast by Type
12.6.1 Apparel
12.6.2 Bags and Accessories
12.6.3 Cosmetics
12.6.4 Watches and Jewelry
12.6.5 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Consumer Luxury Goods Market Size Forecast by Applications
12.10.1 Online Sales
12.10.2 Offline Sales
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Consumer Luxury Goods Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Consumer Luxury Goods Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Consumer Luxury Goods Market Size Forecast by Type
13.6.1 Apparel
13.6.2 Bags and Accessories
13.6.3 Cosmetics
13.6.4 Watches and Jewelry
13.6.5 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Consumer Luxury Goods Market Size Forecast by Applications
13.10.1 Online Sales
13.10.2 Offline Sales
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Consumer Luxury Goods Market: Competitive Dashboard
14.2 Global Consumer Luxury Goods Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 LVMH
14.3.2 Estee Lauder
14.3.3 Richemont
14.3.4 Essilor International S.A.
14.3.5 Kering
14.3.6 L'Oreal Luxe
14.3.7 The Swatch Group
14.3.8 Ralph Lauren
14.3.9 PVH
14.3.10 Chow Tai Fook Jewellery
14.3.11 Hermes
14.3.12 Rolex
14.3.13 Lao Feng Xiang
14.3.14 Michael Kors
14.3.15 Tapestry (Coach)
14.3.16 Tiffany
14.3.17 Shiseido
14.3.18 Burberry
14.3.19 Prada
14.3.20 Pandora
