Global Luxury Goods Market By Type (Jewelry & Watches, Clothing & Footwear, Bags & Accessories, Cosmetics & Fragrances), By Distribution Channel (By Distribution Channel (Exclusive Stores, Airports, E-Commerce, Specialty Store & Others (Departmental Stores, Hypermarket/Supermarket, Multi-Branded Stores etc.)), By Region, Competition, Forecast & Opportunities, 2026
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Consumer Goods and Retail | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationThe global luxury goods market is forecast to grow over a CAGR of more than 8% in value terms to reach around USD430 billion by 2026. The global luxury goods market is witnessing consistent growth, owing to the changing consumer taste & preferences, improving standards of living, and increasing innovation in existing luxury product offerings.
The popularity of luxury goods items has increased with the expansion of technological advancements and rapid urbanization and continuous change in consumer tastes and preferences. Consumers have become more health-conscious in recent years, and as a result, increased awareness of skin-related issues among consumers is shifting their preferences towards higher-priced skincare products. The demand for luxury cosmetics is increasing at a faster rate, especially since the COVID-19 lockdown, when people were unable to leave their homes and instead focus on meeting their healthcare needs online.
Okay, so the luxury market? Think of it as being sliced up in a few wayswhat you're buying (the type), how you're buying it (the distribution channel), where you are in the world (the region), and of course, which company you're buying from. Now, if we zoom in on the type of luxury goods, we see the big categories are Jewelry & Watches, Clothing & Footwear, Bags & Accessories, and Cosmetics & Fragrances. Guess what? Jewelry and watches were the rockstars, grabbing about 30% of the whole luxury pie back in 2020! Why? Well, more organized stores are selling them, people's lifestyles are changing, and they've got more cash to splash. Plus, let's face it, with all those festivals happening, who doesn't want a little extra sparkle?
Based on distribution channels, the global luxury goods market is divided into By Distribution Channel (Exclusive retailers, Airports, E-Commerce, Specialty Store & Others (Departmental retailers, Hypermarket/Supermarket, Multi-Branded retailers etc.). Among which, Exclusive retailers hold the majority of the market share in the global luxury goods market and will continue to dominate the market throughout the forecast period.
In terms of region, the global luxury goods market is segmented into Europe, North America, Asia-Pacific, Middle East & Africa & South America. Among which, the Europe region has accounted for the majority of market share in the global luxury goods market followed by North America in 2020 and will continue to dominate the market throughout the forecast period as well. This is due to the presence of large number of millennium consumer, strong economic condition and presence of various brands across the region.
Some of the leading players in the global luxury goods market are LVMH Group, Compagnie Financière Richemont SA, Kering SA, L’Oréal S.A., Chanel Limited, PVH Corp., The Estée Lauder Companies Inc., The Swatch Group Ltd., Rolex SA, Prada S.p.A, etc. The companies are developing advanced technologies and launching new products to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new service developments.
Years considered for this report
Historical Years2016-
Base Year2020
Estimated Year2021E
Forecast Period2022F-2026F
Objective of the Study
- To analyze the historical growth in the market size of global luxury goods market from 2016 to 2020.
- To estimate and forecast the market size of global luxury goods market from 2021 to 2026 and growth rate until 2026.
- To classify and forecast global luxury goods market based on by type, by distribution channel, by region and by company.
- To identify dominant region or segment in the global luxury goods market.
- To identify drivers and challenges for global luxury goods market.
- To examine competitive developments such as expansions, new product launches, mergers and acquisitions, etc., in global luxury goods market.
- To identify and analyze the profile of leading players operating in global luxury goods market.
- To identify key sustainable strategies adopted by market players in global luxury goods market.
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marketinsights Research performed both primary as well as exhaustive secondary research for this study. Initially, marketinsights Research sourced a list of manufacturers
marketinsights Research calculated the market size of the global l
Key Target Audience
- Manufacturers, distributors, and end-users
- Market research and consulting firms
- Government bodies such as regulating authorities and policymakers
- Organizations, forums, and alliances related to luxury goods market
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as
Report Scope
In this report, the global luxury goods market has been segmented into following categories, in addition to the industry trends which have also been detailed below
Global Luxury Goods Market, By Type
Global Luxury Goods Market Size, By Distribution Channel
- Global Luxury Goods Market, By Region
- Europe
- France
- Italy
- Germany
- Spain
- Switzerland
- North America
- United States
- Canada
- Mexico
- Asia Pacific
- China
- Japan
- South Korea
- India
- Singapore
- Middle East and Africa
- UAE
- Saudi Arabia
- South Africa
- Turkey
- South America
- Brazil
- Argentina
- Colombia
Competitive Landscape
Company Profiles
found at Customizations
With the given market data, marketinsights Research offers customizations according to a compa
Company Information
- Detailed analysis and profiling of additional market players (up to five).
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