Market Insights Report
This report from the series of Consumer Market Insights reports gives an overview of the Luxury Goods market from an international perspective. The Luxury Goods market has enjoyed a remarkable upsurge during the last decade with growth rates exceeding mass consumer goods markets by a wide margin. However, the luxury goods industry has recently faced challenges, including inflation, geopolitical tensions, and reduced spending in the U.S. and Europe, particularly among mid-tier consumers. Nevertheless, strong demand from high-net-worth individuals and a recovery in China have bolstered growth. To stay competitive, brands are targeting younger consumers' preferences for experiences and sustainability, integrating digital and omnichannel strategies.. Key players include the multi-segment and multi-label companies LVMH (Moët Hennessy Louis Vuitton), Kering and Richemont as well as specialized companies like L'Oréal Luxe, Estée Lauder, Swatch or Rolex.
What's included?
In the Consumer Market Insights, Luxury Goods encompass highly exclusive personal items that convey the taste and status of their owners.
The market is divided into five segments: Luxury Leather Goods, Luxury Watches & Jewelry, Luxury Fashion, Luxury Eyewear and Prestige Cosmetics & Fragrances. 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 Western Europe, North America and Japan to Greater China and other emerging markets and a bigger role of the still underdeveloped eCommerce channel.This report from the series of Consumer Market Insights reports gives an overview of the Luxury Goods market from an international perspective. Besides all relevant market figures like total and per capita revenues for the years from 2018 to 2029, we furthermore give detailed insights into current trends, key players and important background information on the Luxury Goods market.
In general, the Luxury Goods market is expected to grow at a CAGR of 4.04% between 2024 and 2029. Within the Luxury Goods market, the Luxury Leather Goods market shows the highest growth potential and are expected to increase reaching US$90.78 billion in 2029.
Note: CAGR: Compound Annual Growth Rate
Market Outlook
Market Outlook
We provide information on industries, companies, consumers, trends, countries, and politics, covering the latest and most important issues in a condensed format.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)