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Sales of the luxury goods market worldwide 2016-2018, by product category

Total sales of the luxury goods market worldwide from 2016 to 2018, by product category (in billion euros)

by Liam O'Connell, last edited Jul 9, 2019
Sales of the luxury goods market worldwide 2016-2018, by product category This statistic shows the total sales of the personal luxury goods market worldwide from 2016 to 2018, broken down by product category. In 2018, the global luxury goods market generated 56 billion euros worth of sales from the perfume and cosmetics category.
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 2017, LVMH (Louis Vuitton Moet Hennessy) was the most valuable luxury brand in the world, with a brand value of about 23 billion U.S. dollars.
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Total sales of the luxury goods market worldwide from 2016 to 2018, by product category (in billion euros)

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