Market Overview:
The global luxury goods market is expected to reach a value of USD 1,521.8 billion by 2030, registering a CAGR of 5.1% during the forecast period (2018-2030). The market growth can be attributed to the increasing disposable income and rising demand for luxury products from the emerging economies. On the basis of type, the luxury watches & jewelry segment is projected to account for the highest share in terms of revenue in 2018 and is expected to maintain its dominance throughout 2030. This can be attributed to factors such as increase in purchasing power parity (PPP) and growing inclination towards luxurious lifestyle among consumers across regions. On the other hand, on account of high penetration rates and saturation levels in developed countries, apparel & leather goods segment is anticipated exhibit sluggish growth over forecast period. Regionally, North America accounted for majority share in 2017 and it is projected that this trend will continue during forecast period owing to presence major luxury brands headquartered in this region coupled with rising consumer awareness about these products through various marketing channels including social media platforms such as Instagram and Snapchat .
Product Definition:
Luxury good is a term for a good or service that is not necessary for survival but is considered desirable by many people. The term can be used to refer to both material and experiential goods.
Luxury Watches & Jewelry:
Luxury watches & jewelry is a type of product, which is perceived as an accessory and a status symbol by the consumers. The market for luxury watches & jewelry has been witnessing growth in terms of sales volume and revenue over the past few years. This growth can be attributed to rising consumer disposable income, especially in emerging countries such as China and India.
Apparels And Leather Goods:
Apparels & Leather Goods (ALS) is a segment that caters to both men's and women's apparel and leather goods. ALS includes products such as suits, jackets, footwear, handbags & wallets, belts & accessories among others. The growth of this segment can be attributed to the growing demand for luxury clothing across all age groups in emerging economies including China and India.
Application Insights:
The commercial application segment held the largest share of over 70.0% in 2017. The growing corporate sector, particularly in developed economies including U.K., Germany, France and the U.S., is expected to contribute significantly towards growth over the forecast period as companies focus on increasing their brand value by investing in luxury goods for their employees¢â‚¬â„¢ benefit programs or company incentives program offerings among others which include travel and stay incentives for employees working remotely from home or abroad at a particular time of year etcetera.
In addition, companies operating globally are increasingly focusing on offering an experience that complements product functionality by developing unique features such as biometric access systems that ensure maximum security while allowing easy access to valuables such as computers.
Regional Analysis:
Asia Pacific dominated the global luxury goods market in 2017 and is expected to continue its dominance over the forecast period. This can be attributed to increasing disposable income, growing middle-class population, improving standards of living, and rising real estate prices. China has emerged as a major player in this industry owing to low manufacturing cost coupled with availability of cheap labor.
North America accounted for a significant share of the market due to high purchasing power parity along with growth in residential construction sector which is boosting consumer confidence & spending on personal care products such as cosmetics and fragrances among others. Europe also held a considerable share owing to high demand for expensive watches manufactured by brands such as Rolex, Omega, Tag Heuer amongst others from countries including Switzerland and Germany among other European countries that have strict laws regarding export & import of luxury goods thus making them more expensive than their counterparts manufactured elsewhere thereby driving up the overall regional market growth over last few years.
Growth Factors:
- Increasing disposable income of the consumers
- Rising number of high net worth individuals
- Growth in tourism and travel industry
- Proliferation of luxury lifestyle brands
- Emergence of online luxury retail
Scope Of The Report
Report Attributes
Report Details
Report Title
Luxury Goods Market Research Report
By Type
Luxury Watches & Jewelry, Apparels And Leather Goods, Luxury Personal Care & Cosmetics, Wines/Champagne And Spirits, Fragrances, Others
By Application
Individual, Commercial
By Companies
LVMH, Kering, Rolex, Tiffany, Coty, Swatch, Prada, Financière Richemont, Hermes, Graff Diamonds, Burberry
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
242
Number of Tables & Figures
170
Customization Available
Yes, the report can be customized as per your need.
Global Luxury Goods Market Report Segments:
The global Luxury Goods market is segmented on the basis of:
Types
Luxury Watches & Jewelry, Apparels And Leather Goods, Luxury Personal Care & Cosmetics, Wines/Champagne And Spirits, Fragrances, 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
Individual, Commercial
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
- Kering
- Rolex
- Tiffany
- Coty
- Swatch
- Prada
- Financière Richemont
- Hermes
- Graff Diamonds
- Burberry
Highlights of The 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:
- Luxury Watches & Jewelry
- Apparels And Leather Goods
- Luxury Personal Care & Cosmetics
- Wines/Champagne And Spirits
- Fragrances
- Others
- By Application:
- Individual
- Commercial
- 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 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?
Luxury goods are items that are typically associated with a higher income level. They may include items like expensive cars, high-end clothing, and jewelry.
Some of the key players operating in the luxury goods market are LVMH, Kering, Rolex, Tiffany, Coty, Swatch, Prada, FinanciƒÂ¨re Richemont, Hermes, Graff Diamonds, Burberry.
The luxury goods market is expected to register a CAGR of 5.1%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 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 Luxury Goods Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 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 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 Luxury Goods Market Size & Forecast, 2018-2028
4.5.1 Luxury Goods Market Size and Y-o-Y Growth
4.5.2 Luxury Goods Market Absolute $ Opportunity
Chapter 5 Global 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 Luxury Goods Market Size Forecast by Type
5.2.1 Luxury Watches & Jewelry
5.2.2 Apparels And Leather Goods
5.2.3 Luxury Personal Care & Cosmetics
5.2.4 Wines/Champagne And Spirits
5.2.5 Fragrances
5.2.6 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global 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 Luxury Goods Market Size Forecast by Applications
6.2.1 Individual
6.2.2 Commercial
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global 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 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 Luxury Goods Analysis and Forecast
9.1 Introduction
9.2 North America 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 Luxury Goods Market Size Forecast by Type
9.6.1 Luxury Watches & Jewelry
9.6.2 Apparels And Leather Goods
9.6.3 Luxury Personal Care & Cosmetics
9.6.4 Wines/Champagne And Spirits
9.6.5 Fragrances
9.6.6 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 Luxury Goods Market Size Forecast by Applications
9.10.1 Individual
9.10.2 Commercial
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 Luxury Goods Analysis and Forecast
10.1 Introduction
10.2 Europe 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 Luxury Goods Market Size Forecast by Type
10.6.1 Luxury Watches & Jewelry
10.6.2 Apparels And Leather Goods
10.6.3 Luxury Personal Care & Cosmetics
10.6.4 Wines/Champagne And Spirits
10.6.5 Fragrances
10.6.6 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 Luxury Goods Market Size Forecast by Applications
10.10.1 Individual
10.10.2 Commercial
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 Luxury Goods Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific 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 Luxury Goods Market Size Forecast by Type
11.6.1 Luxury Watches & Jewelry
11.6.2 Apparels And Leather Goods
11.6.3 Luxury Personal Care & Cosmetics
11.6.4 Wines/Champagne And Spirits
11.6.5 Fragrances
11.6.6 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 Luxury Goods Market Size Forecast by Applications
11.10.1 Individual
11.10.2 Commercial
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 Luxury Goods Analysis and Forecast
12.1 Introduction
12.2 Latin America 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 Luxury Goods Market Size Forecast by Type
12.6.1 Luxury Watches & Jewelry
12.6.2 Apparels And Leather Goods
12.6.3 Luxury Personal Care & Cosmetics
12.6.4 Wines/Champagne And Spirits
12.6.5 Fragrances
12.6.6 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 Luxury Goods Market Size Forecast by Applications
12.10.1 Individual
12.10.2 Commercial
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) Luxury Goods Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) 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) Luxury Goods Market Size Forecast by Type
13.6.1 Luxury Watches & Jewelry
13.6.2 Apparels And Leather Goods
13.6.3 Luxury Personal Care & Cosmetics
13.6.4 Wines/Champagne And Spirits
13.6.5 Fragrances
13.6.6 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) Luxury Goods Market Size Forecast by Applications
13.10.1 Individual
13.10.2 Commercial
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 Luxury Goods Market: Competitive Dashboard
14.2 Global Luxury Goods Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 LVMH
14.3.2 Kering
14.3.3 Rolex
14.3.4 Tiffany
14.3.5 Coty
14.3.6 Swatch
14.3.7 Prada
14.3.8 Financière Richemont
14.3.9 Hermes
14.3.10 Graff Diamonds
14.3.11 Burberry
