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Leading personal luxury goods markets worldwide in 2020, by country

In 2020, the United States was the top ranked personal luxury goods market with an estimated market value of about 55 billion euros.

Luxury Goods

The global luxury goods industry, which includes drinks, fashion, cosmetics, fragrances, watches, jewelry, luggage and handbags, has been on an upward climb for many years. Although the technical term 'luxury good' is independent of the goods' quality, they are generally considered to be goods at the highest end of the market in terms of quality and price. Luxury goods manufacturers meet consumer demand by focusing on brand, aesthetics, quality materials, superior craftsmanship and pricing to transform everyday objects into status symbols. The industry rises and falls with the gross domestic product (GDP), seeing demand climb in times of economic stability and plummeting in unfavorable economic climates.

As of 2020, LVMH (Louis Vuitton Moet Hennessy) was the most valuable luxury brand in the world, with a brand value of about 31.72 billion U.S. dollars.

Value of the leading personal luxury goods markets worldwide in 2020, by country

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Sources

Release date

February 2021

Region

Worldwide

Survey time period

2020

Supplementary notes

* All figures are estimates.

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Statistics on "Luxury personal goods industry worldwide"

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