Global Luxury Goods Market is valued at approximately USD 331.6 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 4.62% over the forecast period 2023-2030. Rapidly growing e-commerce enables easy access to buying and selling of luxury items across the globe and helps in generating revenue for the brands, increasing social media users anticipated to bring a positive impact on the Global Luxury Goods Market because it provides a platform to promote and advertise their brands and luxury items by hiring social media influencers to reach a wide range of customers around the globe.
According to India Brand Equity Foundation (IBEF) in 2021, the Digital India program has resulted in a significant increase in internet connections, reaching a total of 830 million. Urban areas accounted for approximately 55% of connections, with 97% of those being wireless. According to the same source mentioned above The number of smartphones in use has also increased dramatically and is predicted to reach 1 billion by 2026. This has a direct impact on the e-commerce market due to which the Global Luxury Market should get benefited. According to Statista in 2021 The number of social media users was 4.59 billion and is expected to grow to approximately 6 billion by 2027. All these factors expected to bring a positive impact on the Global Luxury Goods Market as it makes the demand and supply of the goods easy and accessible to the world. Moreover, personalization and emerging markets such as China, India, and so on, may emerge as to be growth opportunities for this market. However, economic fluctuation and counterfeit products are some of the factors that may hamper the overall growth of the market during the forecast years 2023-2030.
The key regions considered for the Global Luxury Goods Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Europe region dominated the market owing to the fact that the region has the presence of most of the key players in the global market such as Burberry, L'Oreal, and Others. Asia Pacific region emerges as to be the fastest growing region because of the rise in population and growing use of smartphones and internet connection. Moreover, countries such as India emerge as the fastest growing economy in the world which constitutes the rise in Per Capita Income of the Consumers, Disposable Income of the Consumers and Purchasing Power Parity (PPP).
Major market players included in this report are:
- LVMH Moet Hennessy Louis Vuitton SE
- Gucci Fashion Company
- Chanel Fashion Company
- Hermes International S.A.
- Cartier International SNC
- Christian Dior SE
- Montres Rolex SA
- Estee Lauder Companies Inc.
- Tiffany & Company
- Gianni Versace S.r.I.
Recent Developments in the Market:
- In November 2022, Estee Lauder Cos Inc. is making a deal to buy Tom Ford for about USD 2.8 billion including debt to bet the competition of others in acquiring the luxury fashion brands in the global market.
- In September 2020, Amazon revealed the plan for a new online luxury store that was expected to help in connecting well-heeled customers with the top-notch brands. The first company that got listed on this platform was Oscar de la Renta which has shown its 2020 collection.
Global Luxury Goods Market Report Scope:
- Historical Data: 2020 - 2021
- Base Year for Estimation: 2022
- Forecast period: 2023-2030
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Product, Distribution Channel, End Users, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product:
- Watches & jewelry
- Perfumes & Cosmetics
- Clothing
- Bags & Purses
- Other
By Distribution Channel:
By End Users:
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Luxury Goods Market, by Region, 2020-2030 (USD Billion)
- 1.2.2. Luxury Goods Market, by Product, 2020-2030 (USD Billion)
- 1.2.3. Luxury Goods Market, by Distribution Channel, 2020-2030 (USD Billion)
- 1.2.4. Luxury Goods Market, by End Users, 2020-2030 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Luxury Goods Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Luxury Goods Market Dynamics
- 3.1. Luxury Goods Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
- 3.1.1.1. Growing E-Commerce industry
- 3.1.1.2. Increasing Social Media Users
- 3.1.2. Market Challenges
- 3.1.2.1. Economic Fluctuation
- 3.1.2.2. Counterfeit Products
- 3.1.3. Market Opportunities
- 3.1.3.1. Personalization of Products
- 3.1.3.2. Emerging Markets for Social Networking App
Chapter 4. Global Luxury Goods Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Porter's 5 Force Impact Analysis
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. COVID-19 Impact Analysis
- 4.7. Disruptive Trends
- 4.8. Industry Expert Perspective
- 4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Luxury Goods Market, by Product
- 5.1. Market Snapshot
- 5.2. Global Luxury Goods Market by Product, Performance - Potential Analysis
- 5.3. Global Luxury Goods Market Estimates & Forecasts by Product 2020-2030 (USD Billion)
- 5.4. Luxury Goods Market, Sub Segment Analysis
- 5.4.1. Watches & Jewelry
- 5.4.2. Perfumes & Cosmetics
- 5.4.3. Clothing
- 5.4.4. Bags & Purses
- 5.4.5. Other
Chapter 6. Global Luxury Goods Market, by Distribution Channel
- 6.1. Market Snapshot
- 6.2. Global Luxury Goods Market by Distribution Channel, Performance - Potential Analysis
- 6.3. Global Luxury Goods Market Estimates & Forecasts by Distribution Channel 2020-2030 (USD Billion)
- 6.4. Luxury Goods Market, Sub Segment Analysis
- 6.4.1. Online
- 6.4.2. Offline
Chapter 7. Global Luxury Goods Market, by End Users
- 7.1. Market Snapshot
- 7.2. Global Luxury Goods Market by End Users, Performance - Potential Analysis
- 7.3. Global Luxury Goods Market Estimates & Forecasts by End Users 2020-2030 (USD Billion)
- 7.4. Luxury Goods Market, Sub Segment Analysis
Chapter 8. Global Luxury Goods Market, Regional Analysis
- 8.1. Top Leading Countries
- 8.2. Top Emerging Countries
- 8.3. Luxury Goods Market, Regional Market Snapshot
- 8.4. North America Luxury Goods Market
- 8.4.1. U.S. Luxury Goods Market
- 8.4.1.1. Product breakdown estimates & forecasts, 2020-2030
- 8.4.1.2. Distribution Channel breakdown estimates & forecasts, 2020-2030
- 8.4.1.3. End Users breakdown estimates & forecasts, 2020-2030
- 8.4.2. Canada Luxury Goods Market
- 8.5. Europe Luxury Goods Market Snapshot
- 8.5.1. U.K. Luxury Goods Market
- 8.5.2. Germany Luxury Goods Market
- 8.5.3. France Luxury Goods Market
- 8.5.4. Spain Luxury Goods Market
- 8.5.5. Italy Luxury Goods Market
- 8.5.6. Rest of Europe Luxury Goods Market
- 8.6. Asia-Pacific Luxury Goods Market Snapshot
- 8.6.1. China Luxury Goods Market
- 8.6.2. India Luxury Goods Market
- 8.6.3. Japan Luxury Goods Market
- 8.6.4. Australia Luxury Goods Market
- 8.6.5. South Korea Luxury Goods Market
- 8.6.6. Rest of Asia Pacific Luxury Goods Market
- 8.7. Latin America Luxury Goods Market Snapshot
- 8.7.1. Brazil Luxury Goods Market
- 8.7.2. Mexico Luxury Goods Market
- 8.8. Middle East & Africa Luxury Goods Market
- 8.8.1. Saudi Arabia Luxury Goods Market
- 8.8.2. South Africa Luxury Goods Market
- 8.8.3. Rest of Middle East & Africa Luxury Goods Market
Chapter 9. Competitive Intelligence
- 9.1. Key Company SWOT Analysis
- 9.1.1. Company 1
- 9.1.2. Company 2
- 9.1.3. Company 3
- 9.2. Top Market Strategies
- 9.3. Company Profiles
- 9.3.1. LVMH Moet Hennessy Louis Vuitton SE
- 9.3.1.1. Key Information
- 9.3.1.2. Overview
- 9.3.1.3. Financial (Subject to Data Availability)
- 9.3.1.4. Product Summary
- 9.3.1.5. Recent Developments
- 9.3.2. Gucci Fashion Company
- 9.3.3. Chanel Fashion Company
- 9.3.4. Hermes International S.A.
- 9.3.5. Cartier International SNC
- 9.3.6. Christian Dior SE
- 9.3.7. Montres Rolex SA
- 9.3.8. Estee Lauder Companies Inc.
- 9.3.9. Tiffany Company
- 9.3.10. Gianni Versace S.r.I.
Chapter 10. Research Process
- 10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
- 10.2. Research Attributes
- 10.3. Research Assumption