Executive Summary
The Global Luxury Goods Market attained a market value of USD 262.66 Billion in 2021 and is expected to grow at a CAGR of 5.63 % during the forecast period of 2023-2028. The demand for Luxury Goods is influenced by the increasing purchasing power of High Net Worth Individuals and Ultra High Net Worth Individuals. Authenticity, prestige and exclusivity are key factors responsible for the significant growth of luxury goods. Further, the market for luxury goods is being driven by Millennials and Gen Z, who are heavily influenced by the status quo and social media influencers.
According to Capgemini's World Wealth Report 2022, the High Net Worth Individuals population expanded by 7.8% and global wealth expanded by 8% in the year 2021. Consequently, the demand for luxury goods is witnessing an upward shift across developed nations such as the United States and Western European countries. However, Asia-Pacific acquires the largest share and is expected to grow at the fastest rate at a CAGR of 6.56%.
The increasing average ratio of wealth from women to men's wealth is boosting the demand for women's luxury goods such as handbags, cosmetics, perfumes and footwear. Furthermore, luxury beauty brands are growing rapidly as the beauty industry grows and the demand for premium cosmetics rises. However, Luxury clothing and footwear continue to hold a prominent position in the market throughout the forecast period.
Luxury goods companies are attempting to use technology to create eco-friendly advanced materials. Luxury brands are also focusing on the High earners Not rich yet (HENRY) group which is likely to gain substantial wealth in the future and become important buyers.
Scope of the Report
• The report analyses the Luxury goods Market by Value (USD Billion).
• The report presents the analysis of the Luxury goods market for the historical period of 2018-2021, the base year 2022 and the forecast period of 2023-2028.
• The report analyses the Luxury goods Market by Product Type (Bags and Accessories, Jewelry and Watches, Cosmetics and Fragrances, Clothing and Footwear, Other Product Types)
• The report analyses the Luxury goods Market By Gender (Men, Women).
• The report analyses the Luxury goods Market By Sales Channel (Branded Stores, Specialty Stores, Online Channels).
• The Global Luxury goods Market has been analysed by countries (United States, Canada, Brazil, Germany, UK, France, Italy, Spain, Switzerland, China, Japan, India, South Korea, Australia, GCC).
• The key insights of the report have been presented through the frameworks of SWOT and Porter's Five Forces Analysis. Also, the attractiveness of the market has been presented by region, by component, by vehicle.
• Also, the major opportunities, trends, drivers and challenges of the industry have been analysed in the report.
• The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include LVMH Moët Hennessy-Louis Vuitton SE, Kering SA, Richemont, PVH Corp., Hermès International SCA, Chanel Ltd., EssilorLuxottica SA, Chow Tai Fook Jewelry Group Limited, The Estée Lauder Companies Inc., L'Oréal SA.
Key Target Audience
• Luxury Goods Companies
• High Net Worth Individuals
• Ultra-High Net Worth Individuals
• Luxury goods Designers
• Investment Banks
1. Market Background
1.1 Scope and Product Outlook
1.2 Executive Summary
1.3 Research Methodology
2. Strategic Recommendations
2.1 Expansion in Asia Pacific Countries
2.2 High Degree of Customization via Digital Learning
3. Global Luxury Goods Market: Historic and Forecast (2018-2028)
3.1 Impact Analysis of Macro Economic Factors on the Luxury Goods Market
3.2 Global Luxury Goods Market: Additional Pointers
3.3.1 Global Luxury Goods Market: Brand Ownership Matrix of Top 15 Luxury Goods Companies
3.3.2 E-Commerce Models of Top Luxury Goods Companies
3.3.3 Product-Wise Company Positioning in Leading Countries
3.3.4 Latest Brands/Companies in Luxury Goods Market
3.3 Global Luxury Goods Market: Dashboard
3.4 Global Luxury Goods Market: Market Size and CAGR, 2018-2028 (USD Billion & CAGR)
3.5 Impact of COVID-19 on the Luxury Goods Market
3.6 Global Luxury Goods Market Segmentation: By Product Type
3.6.1 Global Luxury Goods Market, By Product Type Overview
3.6.2 Global Luxury Goods Market Size, By Bags and Accessories, By Value, 2018H-2028F (USD Billion & CAGR)
3.6.3 Global Luxury Goods Market Size, By Jewelry and Watches, By Value, 2018H-2028F (USD Billion & CAGR)
3.6.4 Global Luxury Goods Market Size, By Cosmetics and Fragrances, By Value, 2018H-2028F (USD Billion & CAGR)
3.6.5 Global Luxury Goods Market Size, By Clothing and Footwear, By Value, 2018H-2028F (USD Billion & CAGR)
3.6.5 Global Luxury Goods Market Size, By Others, By Value, 2018H-2028F (USD Billion & CAGR)
3.7 Global Luxury Goods Market Segmentation: By Gender
3.7.1 Global Luxury Goods Market, By Gender Overview
3.7.2 Global Luxury Goods Market Size, By Men, By Value, 2018H-2028F (USD Billion & CAGR)
3.7.3 Global Luxury Goods Market Size, By Women, By Value, 2018H-2028F (USD Billion & CAGR)
3.8 Global Luxury Goods Market Segmentation: By Sales Channel
3.8.1 Global Luxury Goods Market, By Sales Channel Overview
3.8.2 Global Luxury Goods Market Size, By Branded Stores, By Value, 2018H-2028F (USD Billion & CAGR)
3.8.3 Global Luxury Goods Market Size, By Specialized Stores, By Value, 2018H-2028F (USD Billion & CAGR)
3.8.3 Global Luxury Goods Market Size, By Online Channel, By Value, 2018H-2028F (USD Billion & CAGR)
4. Global Luxury Goods Market, Region Analysis
4.1 Regional Coverage of the Study
4.2 Regional Snapshot
5. Americas Luxury Goods Market: Historic and Forecast (2018-2028)
5.1 Americas Luxury Goods Market: Snapshot
5.2 Americas Luxury Goods Market: Market Size and CAGR, 2018-2028 (USD Billion & CAGR)
5.4 Americas Luxury Goods Market: Key Factors
5.5 Americas Luxury Goods Market Segmentation: By Product Type
5.5.1 Americas Luxury Goods Market, By Product Type Overview
5.5.2 Americas Luxury Goods Market Size, By Bags and Accessories, By Value, 2018H-2028F (USD Billion & CAGR)
5.5.3 Americas Luxury Goods Market Size, By Jewelry and Watches, By Value, 2018H-2028F (USD Billion & CAGR)
5.5.4 Americas Luxury Goods Market Size, By Cosmetics and Fragrances, By Value, 2018H-2028F (USD Billion & CAGR)
5.5.5 Americas Luxury Goods Market Size, By Clothing and Footwear, By Value, 2018H-2028F (USD Billion & CAGR)
5.5.5 Americas Luxury Goods Market Size, By Others Product Type, By Value, 2018H-2028F (USD Billion & CAGR)
5.6 Americas Luxury Goods Market Segmentation: By Gender
5.6.1 Americas Luxury Goods Market, By Gender Overview
5.6.2 Americas Luxury Goods Market Size, By Men, By Value, 2018H-2028F (USD Billion & CAGR)
5.6.3 Americas Luxury Goods Market Size, By Women, By Value, 2018H-2028F (USD Billion & CAGR)
5.7 Americas Luxury Goods Market Segmentation: By Sales Channel
5.7.1 Americas Luxury Goods Market, By Sales Channel Overview
5.7.2 Americas Luxury Goods Market Size, By Branded Stores, By Value, 2018H-2028F (USD Billion & CAGR)
5.7.3 Americas Luxury Goods Market Size, By Specialized Stores, By Value, 2018H-2028F (USD Billion & CAGR)
5.7.3 Americas Luxury Goods Market Size, By Online Channel, By Value, 2018H-2028F (USD Billion & CAGR)
5.8 Americas Luxury Goods Market Segmentation: By Country
5.8.1 United States Luxury Goods Market: Market Size and CAGR, 2018-2028 (USD Billion & CAGR)
5.8.1.1 United States Luxury Goods Market, By Product Type
5.8.1.2 United States Luxury Goods Market, By Gender
5.8.1.2 United States Luxury Goods Market, By Sales Channel
5.8.1 Canada Luxury Goods Market: Market Size and CAGR, 2018-2028 (USD Billion & CAGR)
5.8.2.1 Canada Luxury Goods Market, By Product Type
5.8.2.2 Canada Luxury Goods Market, By Gender
5.8.2.2 Canada Luxury Goods Market, By Sales Channel
5.8.3 Brazil Luxury Goods Market: Market Size and CAGR, 2018-2028 (USD Billion & CAGR)
5.8.3.1 Brazil Luxury Goods Market, By Product Type
5.8.3.2 Brazil Luxury Goods Market, By Gender
5.8.3.2 Brazil Luxury Goods Market, By Sales Channel
5.8.4 Rest of Americas Luxury Goods Market: Market Size and CAGR, 2018-2028 (USD Billion & CAGR)
5.8.4.1 Rest of Americas Luxury Goods Market, By Product Type
5.8.4.2 Rest of Americas Luxury Goods Market, By Gender
5.8.4.2 Rest of Americas Luxury Goods Market, By Sales Channel
6. Europe Luxury Goods Market: Historic and Forecast (2018-2028)
6.1 Europe Luxury Goods Market: Snapshot
6.2 Europe Luxury Goods Market: Market Size and CAGR, 2018-2028 (USD Billion & CAGR)
6.4 Europe Luxury Goods Market: Key Factors
6.5 Europe Luxury Goods Market Segmentation: By Product Type
6.5.1 Europe Luxury Goods Market, By Product Type Overview
6.5.2 Europe Luxury Goods Market Size, By Bags and Accessories, By Value, 2018H-2028F (USD Billion & CAGR)
6.5.3 Europe Luxury Goods Market Size, By Jewelry and Watches, By Value, 2018H-2028F (USD Billion & CAGR)
6.5.4 Europe Luxury Goods Market Size, By Cosmetics and Fragrances, By Value, 2018H-2028F (USD Billion & CAGR)
6.5.5 Europe Luxury Goods Market Size, By Clothing and Footwear, By Value, 2018H-2028F (USD Billion & CAGR)
6.5.5 Europe Luxury Goods Market Size, By Others, By Value, 2018H-2028F (USD Billion & CAGR)
6.6 Europe Luxury Goods Market Segmentation: By Gender
6.6.1 Europe Luxury Goods Market, By Gender Overview
6.6.2 Europe Luxury Goods Market Size, By Men, By Value, 2018H-2028F (USD Billion & CAGR)
6.6.3 Europe Luxury Goods Market Size, By Women, By Value, 2018H-2028F (USD Billion & CAGR)
6.7 Europe Luxury Goods Market Segmentation: By Sales Channel
6.7.1 Europe Luxury Goods Market, By Sales Channel Overview
6.7.2 Europe Luxury Goods Market Size, By Branded Stores, By Value, 2018H-2028F (USD Billion & CAGR)
6.7.3 Europe Luxury Goods Market Size, By Specialized Stores, By Value, 2018H-2028F (USD Billion & CAGR)
6.7.3 Europe Luxury Goods Market Size, By Online Channel, By Value, 2018H-2028F (USD Billion & CAGR)
6.8 Europe Luxury Goods Market Segmentation: By Country
6.8.1 Germany Luxury Goods Market: Market Size and CAGR, 2018-2028 (USD Billion & CAGR)
6.8.1.1 Germany Luxury Goods Market, By Product Type
6.8.1.2 Germany Luxury Goods Market, By Gender
6.8.1.3 Germany Luxury Goods Market, By Sales Channel
6.8.1 United Kingdom Luxury Goods Market: Market Size and CAGR, 2018-2028 (USD Billion & CAGR)
6.8.1.1 United Kingdom Luxury Goods Market, By Product Type
6.8.1.2 United Kingdom Luxury Goods Market, By Gender
6.8.1.3 United Kingdom Luxury Goods Market, By Sales Channel
6.8.3 France Luxury Goods Market: Market Size and CAGR, 2018-2028 (USD Billion & CAGR)
6.8.3.1 France Luxury Goods Market, By Product Type
6.8.3.2 France Luxury Goods Market, By Gender
6.8.3.3 France Luxury Goods Market, By Sales Channel
6.8.4 Italy Luxury Goods Market: Market Size and CAGR, 2018-2028 (USD Billion & CAGR)
6.8.4.1 Italy Luxury Goods Market, By Product Type
6.8.4.2 Italy Luxury Goods Market, By Gender
6.8.4.3 Italy Luxury Goods Market, By Sales Channel
6.8.5 Spain Luxury Goods Market: Market Size and CAGR, 2018-2028 (USD Billion & CAGR)
6.8.5.1 Spain Luxury Goods Market, By Product Type
6.8.5.2 Spain Luxury Goods Market, By Gender
6.8.5.3 Spain Luxury Goods Market, By Sales Channel
6.8.6 Switzerland Luxury Goods Market: Market Size and CAGR, 2018-2028 (USD Billion & CAGR)
6.8.6.1 Switzerland Luxury Goods Market, By Product Type
6.8.6.2 Switzerland Luxury Goods Market, By Gender
6.8.6.3 Switzerland Luxury Goods Market, By Sales Channel
6.8.7 Rest of Europe Luxury Goods Market: Market Size and CAGR, 2018-2028 (USD Billion & CAGR)
6.8.7.1 Rest of Europe Luxury Goods Market, By Product Type
6.8.7.2 Rest of Europe Luxury Goods Market, By Gender
6.8.7.3 Rest of Europe Luxury Goods Market, By Sales Channel
7. Asia Pacific Luxury Goods Market: Historic and Forecast (2018-2028)
7.1 Asia Pacific Luxury Goods Market: Snapshot
7.2 Asia Pacific Luxury Goods Market: Market Size and CAGR, 2018-2028 (USD Billion & CAGR)
7.3 Asia Pacific Luxury Goods Market: Key Factors
7.4 Asia Pacific Luxury Goods Market Segmentation: By Product Type
7.4.1 Asia Pacific Luxury Goods Market, By Product Type Overview
7.4.2 Asia Pacific Luxury Goods Market Size, By Bags and Accessories, By Value, 2018H-2028F (USD Billion & CAGR)
7.4.3 Asia Pacific Luxury Goods Market Size, By Jewelry and Watches, By Value, 2018H-2028F (USD Billion & CAGR)
7.4.4 Asia Pacific Luxury Goods Market Size, By Cosmetics and Fragrances, By Value, 2018H-2028F (USD Billion & CAGR)
7.4.5 Asia Pacific Luxury Goods Market Size, By Clothing and Footwear, By Value, 2018H-2028F (USD Billion & CAGR)
7.4.5 Asia Pacific Luxury Goods Market Size, By Other Product Types, By Value, 2018H-2028F (USD Billion & CAGR)
7.5 Asia Pacific Luxury Goods Market Segmentation: By Gender
7.5.1 Asia Pacific Luxury Goods Market, By Gender Overview
7.5.2 Asia Pacific Luxury Goods Market Size, By Men, By Value, 2018H-2028F (USD Billion & CAGR)
7.5.3 Asia Pacific Luxury Goods Market Size, By Women, By Value, 2018H-2028F (USD Billion & CAGR)
7.6 Asia Pacific Luxury Goods Market Segmentation: By Sales Channel
7.6.1 Asia Pacific Luxury Goods Market, By Sales Channel Overview
7.6.2 Asia Pacific Luxury Goods Market Size, By Branded Stores, By Value, 2018H-2028F (USD Billion & CAGR)
7.6.3 Asia Pacific Luxury Goods Market Size, By Specialized Stores, By Value, 2018H-2028F (USD Billion & CAGR)
7.6.4 Asia Pacific Luxury Goods Market Size, By Online Channel, By Value, 2018H-2028F (USD Billion & CAGR)
7.7 Asia Pacific Luxury Goods Market Segmentation: By Country
7.7.1 China Luxury Goods Market: Market Size and CAGR, 2018-2028 (USD Billion & CAGR)
7.7.1.1 China Luxury Goods Market, By Product Type
7.7.1.2 China Luxury Goods Market, By Gender
7.7.1.3 China Luxury Goods Market, By Online Channel
7.7.2 Japan Luxury Goods Market: Market Size and CAGR, 2018-2028 (USD Billion & CAGR)
7.7.2.1 Japan Luxury Goods Market, By Product Type
7.7.2.2 Japan Luxury Goods Market, By Gender
7.7.2.3 Japan Luxury Goods Market, By Sales Channel
7.7.3 South Korea Luxury Goods Market: Market Size and CAGR, 2018-2028 (USD Billion & CAGR)
7.7.3.1 South Korea Luxury Goods Market, By Product Type
7.7.3.2 South Korea Luxury Goods Market, By Gender
7.7.3.3 South Korea Luxury Goods Market, By Sales Channel
7.7.4 India Luxury Goods Market: Market Size and CAGR, 2018-2028 (USD Billion & CAGR)
7.7.4.1 India Luxury Goods Market, By Product Type
7.4.4.2 India Luxury Goods Market, By Gender
7.4.4.3 India Luxury Goods Market, By Sales Channel
7.7.5 Australia Luxury Goods Market: Market Size and CAGR, 2018-2028 (USD Billion & CAGR)
7.7.5.1 Australia Luxury Goods Market, By Product Type
7.7.5.2 Australia Luxury Goods Market, By Gender
7.7.5.3 Australia Luxury Goods Market, By Sales Channel
7.7.6 Rest Of Asia Pacific Luxury Goods Market: Market Size and CAGR, 2018-2028 (USD Billion & CAGR)
7.7.6.1 Rest Of Asia Pacific Luxury Goods Market, By Product Type
7.7.6.2 Rest Of Asia Pacific Luxury Goods Market, By Gender
7.7.6.3 Rest Of Asia Pacific Luxury Goods Market, By Channel
8. Middle East & Africa Luxury Goods Market: Historic and Forecast (2018-2028)
8.1 Middle East & Africa Luxury Goods Market: Snapshot
8.2 Middle East & Africa Luxury Goods Market: Market Size and CAGR, 2018-2028 (USD Billion & CAGR)
8.4 Middle East & Africa Luxury Goods Market: Key Factors
8.5 Middle East & Africa Luxury Goods Market Segmentation: By Product Type
8.5.1 Middle East & Africa Luxury Goods Market, By Product Type Overview
8.5.2 Middle East & Africa Luxury Goods Market Size, By Bags and Accessories, By Value, 2018H-2028F (USD Billion & CAGR)
8.5.3 Middle East & Africa Luxury Goods Market Size, By Jewelry and Watches, By Value, 2018H-2028F (USD Billion & CAGR)
8.5.4 Middle East & Africa Luxury Goods Market Size, By Cosmetics and Fragrances, By Value, 2018H-2028F (USD Billion & CAGR)
8.5.5 Middle East & Africa Luxury Goods Market Size, By Clothing and Footwear, By Value, 2018H-2028F (USD Billion & CAGR)
8.5.6 Middle East & Africa Luxury Goods Market Size, By Other Product Types, By Value, 2018H-2028F (USD Billion & CAGR)
8.6 Middle East & Africa Luxury Goods Market Segmentation: By Gender
8.6.1 Middle East & Africa Luxury Goods Market, By Gender Overview
8.6.2 Middle East & Africa Luxury Goods Market Size, By Men, By Value, 2018H-2028F (USD Billion & CAGR)
8.6.3 Middle East & Africa Luxury Goods Market Size, By Women, By Value, 2018H-2028F (USD Billion & CAGR)
8.7 Middle East & Africa Luxury Goods Market Segmentation: By Sales Channel
8.7.1 Middle East & Africa Luxury Goods Market, By Sales Channel Overview
8.7.2 Middle East & Africa Luxury Goods Market Size, By Branded Stores, By Value, 2018H-2028F (USD Billion & CAGR)
8.7.3 Middle East & Africa Luxury Goods Market Size, By Specialized Stores, By Value, 2018H-2028F (USD Billion & CAGR)
8.7.4 Middle East & Africa Luxury Goods Market Size, By Online Channel, By Value, 2018H-2028F (USD Billion & CAGR)
8.8 Middle East and Africa Luxury Goods Market Segmentation: By Country
8.8.1 GCC Luxury Goods Market: Market Size and CAGR, 2018-2028 (USD Billion & CAGR)
8.8.1.1 GCC Luxury Goods Market, By Product Type
8.8.1.2 GCC Luxury Goods Market, By Gender
8.8.1.3 GCC Luxury Goods Market, By Online Channel
8.8.2 Rest of MEA Luxury Goods Market: Market Size and CAGR, 2018-2028 (USD Billion & CAGR)
8.8.2.1 Rest of MEA Luxury Goods Market, By Product Type
8.8.2.2 Rest of MEA Luxury Goods Market, By Gender
8.8.2.3 Rest of MEA Luxury Goods Market, By Sales Channel
9. Market Dynamics
9.1 Impact assessment of Market Dynamics on the Global Luxury Goods Market
9.2 Drivers
9.3 Restraints
9.4 Trends
10. Industry Ecosystem Analysis
10.1 Macro-Economic Factor Assessment
10.2 Value Chain Analysis
10.3 Porter's Five Forces Model
11. Competitive Positioning
11.1 Companies' Product Positioning
11.2 Market Position Matrix
11.3 Market Share of Leading Luxury Goods Brands: By Product Type
11.4 Market Share of Leading Luxury Goods Brands: By Country
11.5 Market Share Analysis of Luxury Goods Market
11.6 Company Profiles
11.6.1 LVMH
11.6.2 Kering S.A
11.6.3 Richemont S.A
11.6.4 The Estée Lauder Companies Inc.
11.6.5 L'Oréal SA
11.6.6 Chanel
11.6.7 EssilorLuxottica
11.6.8 PVH Corp.
11.6.9 Hermes International SA
11.6.10 Chow Tai Fook Jewelry Group Limited
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