Luxury Goods - Africa

  • Africa
  • In 2024, the Luxury Goods market in Africa is projected to generate a revenue of US$5.82bn.
  • With an annual growth rate of 1.31% (CAGR 2024-2028), the market is expected to expand steadily.
  • The largest segment within this market is Prestige Cosmetics & Fragrances, which is estimated to have a market volume of US$3.11bn in 2024.
  • When compared globally, in the United States leads in revenue generation, with an expected revenue of US$77,280m in 2024.
  • This showcases the significant presence of the Luxury Goods market industry in the United States.
  • In terms of per capita revenue, each individual in Africa is anticipated to contribute US$4.48 to the Luxury Goods market in 2024.
  • This metric provides insight into the level of luxury spending within the region.
  • Furthermore, online sales are expected to account for 3.9% of the total revenue in the Luxury Goods market by 2024.
  • This highlights the growing importance of e-commerce in the industry.
  • in Africa, as a region, presents a promising landscape for the Luxury Goods market, with substantial revenue potential and opportunities for growth.
  • Luxury goods market in South Africa has seen a surge in demand for high-end safari experiences and luxury wildlife products.

Key regions: United States, Russia, India, Singapore, United Kingdom

Region comparison

Analyst Opinion

When marketing luxury, exclusivity constitutes the conceptual key element. This exclusivity is maintained mainly by a high price point but also by consciously limiting sales volumes and outlets. 2018 was a good year for luxury goods companies, continuing the rebound of the global luxury goods industry which started in 2017 after two relatively sluggish years. Key trends shaping the industry are a continued emphasis on manufacturer-owned retail, a more pronounced shift of sales from the established core markets in Central & Western Europe, North America, and Japan to Greater China and other emerging markets, as well as the increasing role of a fast-growing eCommerce channel.


The Luxury Goods market is built on resources from the Statista platform as well as on in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. We evaluate the status quo of the market, monitor trends, and create an independent forecast regarding market developments of the global Luxury Goods industry.


  • Revenue
  • Analyst Opinion
  • Sales Channels
  • Key Players
  • Global Comparison
  • Methodology
  • Key Market Indicators
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