Luxury Goods - China

  • China
  • In 2024, the revenue in the Luxury Goods market in China is estimated to be US$56.08bn.
  • It is projected that the market will experience an annual growth rate of 3.93% (CAGR 2024-2028).
  • The largest segment within this market is Luxury Watches & Jewelry, which is expected to have a market volume of US$25.25bn in 2024.
  • In comparison to other countries worldwide, in the United States generates the most revenue in the Luxury Goods market, reaching US$77,280m in 2024.
  • When considering the population size, the per person revenue in China amounts to US$39.15 in 2024.
  • Furthermore, online sales are predicted to contribute 21.5% of the total revenue in the Luxury Goods market by 2024.
  • China's growing middle class is fueling a surge in demand for luxury goods, making it a lucrative market for high-end brands.

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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