DUBLIN, March 14, 2023 /PRNewswire/ — The “Luxury Goods: Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
The global market for Luxury Goods estimated at US$242.8 Billion in the year 2022, is projected to reach a revised size of US$369.8 Billion by 2030, growing at a CAGR of 5.4% over the analysis period 2022-2030.
Apparel, one of the segments analyzed in the report, is projected to record a 6.7% CAGR and reach US$115.4 Billion by the end of the analysis period.
Taking into account the ongoing post pandemic recovery, growth in the Cosmetics & Perfumes segment is readjusted to a revised 5.6% CAGR for the next 8-year period.
The U.S. Market is Estimated at $53.1 Billion, While China is Forecast to Grow at 7.3% CAGR
The Luxury Goods market in the U.S. is estimated at US$53.1 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$42.4 Billion by the year 2030 trailing a CAGR of 7.3% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.2% and 5.6% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$60.9 Billion by the year 2030.
Select Competitors (Total 175 Featured) –
- Burberry Group Plc
- Chanel S.A.
- Cie Financiere Richemont SA
- Giorgio Armani SpA
- Hermes International S.A.
- Kering S.A.
- L’Oreal S.A.
- Luxottica Group S.p.A.
- LVMH Moet Hennessy Louis Vuitton
- Mulberry Group PLC
- Prada S.p.A.
- Ralph Lauren Corporation
- Rolex SA
- The Estee Lauder Companies Inc.
- The Swatch Group Ltd.
- Gianni Versace S.r.l.
What`s New for 2023?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies – Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 494 |
| Forecast Period | 2022 – 2030 |
| Estimated Market Value (USD) in 2022 | $242.8 Billion |
| Forecasted Market Value (USD) by 2030 | $369.8 Billion |
| Compound Annual Growth Rate | 5.4 % |
| Regions Covered | Global |
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of COVID-19 Pandemic and Looming Global Recession
- Luxury Brands Focus on Positive Contributions to Fight COVID-19
- Changing Consumer Behavior to Impact Luxury Goods Market in Post Pandemic Period
- Players Devise Digital Strategies to Stay Afloat During the Pandemic
- Taking Steps to Deal with Unsold 2020 Inventory and Plan for 2021 Collections
- COVID-19 Presents Significant Challenges to Luxury Brands and Wholesalers
- Pandemic Crisis Weakens Economic Environment, Affecting Luxury Goods Market
- World Economic Growth Projections (Real GDP, Annual % Change) for 2019, 2020 & 2021
- An Introduction to Luxury Goods
- Types of Luxury Goods
- Global Market Prospects & Outlook
- Competition
- Global Luxury Goods Market Breakdown by Leading Competitors (in %) for 2019
- Valuable Luxury Brands Worldwide: Ranked by Brand Value (in US$ Billion) for 2020E
- COVID-19 Crisis Presents Opportunity to Acquire High-Potential Luxury Brands
- Luxury Brands Differentiate Even in Digital Transition Efforts
- Key Competitors in the Luxury Watches Domain
- Swiss Watches Global Competitor Share Positioning for 2019
- World Brands
- Recent Market Activity
- Luxury Goods – Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Collapse of Global Travel & Tourism Industry Dents Prospects in Luxury Goods Market
- COVID-19 Impact on Travel & Tourism Industry: Growth Rate (%) of Industry Revenues in Select Countries for 2020 Vs 2019
- COVID-19 Impact on Tourism Industry: % Change in International Tourist Arrivals by Region for 2019 and Q1 2020
- Countries with Maximum Vulnerability to COVID-19 Impact on Tourism Industry: Travel & Tourism Industry as % of GDP by Country for 2019
- As Airlines Industry Struggles Amidst the COVID-19 Crisis, Impact Imminent on Airport Luxury Retail Sales
- COVID-19 Pandemic Dents Airline Revenues: Commercial Airline Revenue Growth (in %) for 2010-2020E
- Personal Incomes of People: A Critical Factor Influencing Market Prospects
- High Net Worth Individuals and Changing Lifestyles Boost Luxury Goods Market
- High Net Worth Individuals Influence Sales of Luxury Goods: Number of Ultra-High Net Worth Individuals (UHNWIs) by Region for 2019
- Younger Generation & Millennials Redefine and Drive Growth in Luxury Market
- Personal Luxury Goods Market by Generation (in %) for 2020E
- Global Millennials Population Spread by Region: 2019
- Millennial Population as a Percentage (%) of Total Population in Select Countries: 2019
- Notable Trends Impacting Global Luxury Goods Industry
- Affordable Luxury to Influence Market Outlook
- Rising Sales of Second Hand Luxury Goods
- Global Personal Luxury Goods Market by New Sales and Resale (in %) for 2019 and 2021
- Role of Digital Technologies in Shaping the Luxury Goods Market
- Augmented Reality Transforms Luxury Retail Experience
- Artificial Intelligence: Playing a Critical Part in Personalizing Shopping Recommendations
- Luxury Watches: A Strong Growth Driver for the Watch Market
- Luxury Watch Market in the US: Percentage Breakdown of Value Sales by Product for 2019 and 2025
- Luxury Wristwatches Market Set to Decline amidst COVID-19 Crisis
- Swiss Watches: The Primary Luxury Watch Category
- Global Swiss Watch Exports: Percentage Breakdown of Export Value by Region for 2019
- Online Channels: A Possible Way Out for Luxury Watchmakers
- Global Luxury Watch Market: Percentage Breakdown of Sales by Distribution Channel for 2019
- Luxury Footwear Designers Gain Traction
- Affordable Luxury: Not just an Oxymoron in Footwear Space
- Luxury, Premium Fragrances: Key Segment in Overall Fragrances & Perfumes Market
- Pandemic Hurts Prospects of Luxury Apparel Brands
- Resale of Luxury Apparel Gains Momentum
- E-Commerce Retail Spurs Sales of Luxury Goods
- COVID-19 Driven Rise in E-Commerce Sales Benefit Luxury Goods Market: Global Retail E-Commerce Website Traffic in Average Monthly Visits (in Billions) for Jun-2019 to Jun-2020
- Popular Luxury Brands Online: Percentage Share of Search Interest by Brand for 2020
- Counterfeits: A Major Concern for the Luxury Goods Market
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/6l0yej
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