Luxury Goods Market In-Depth Analysis on Size, Cost Structure, Segment, Regional outlook and Forecast 2022
Global Luxury Goods market is expected to garner $429,762 million by 2022, registering a CAGR of 3.9% during the period 2016 – 2022. Luxury goods market trends such as rise in disposable income, upgradation in consumer lifestyle and inclination towards exquisite jewelry, watches, designer apparels, leather goods, and other merchandise has boosted the demand for luxury goods. Designer apparels segment dominated the global market in 2015 and is expected to maintain this trend in the future.
This Report encloses comprehensive analysis on the Luxury Goods market and are assessed through volume and value data validated on three approaches including top companies revenues. It concludes with precise and authentic market estimations considering all the parameters and market dynamics.
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Some of the major players operating in the market are Estee Lauder Companies Inc., L’Oral International, LVMH Group, Kering SA, The Shiseido Company, Ltd., Prada S.p.A., Ralph Lauren Corporation, Swatch Group, Luxottica Group S.p.A, and Compagnie Financire Richemont SA.
This market is segmented on the basis of product type, mode of sale, gender, and geography. The product type segment includes designer apparels & footwear, accessories, cosmetics, jewelry, travel goods, fine wines/champagne & spirits, and others. In the year 2015, designer apparels and jewelry were the most popular segments and held a cumulative share of more than 59% in global luxury goods market.
The mode of sale could either be retail or online sale, wherein retail mode includes brand outlets, franchise stores, flagship stores, and retail outlets. Most customers prefer the retail mode of sale while buying luxury goods. However, online mode of sale is steadily gaining momentum and is expected to grow at the highest CAGR of 6.2% during the forecast period.
Increase in the number of working women and their economic independence are the key reasons for the market growth for female consumers. In the year 2015, female consumers accounted for almost 65% of global luxury goods market. However, increase in inclination of men towards designer apparels, leather bags, and footwear could result in high demand of luxury goods from male consumers. This segment is anticipated to grow at a CAGR of 4.4% during the forecast period.
The market is analyzed across four regions-North America, Europe, Asia-Pacific, and LAMEA. Europe is expected to dominate the global market during the analysis period due to the presence of large number of established manufacturers of luxury goods in Italy, France, and UK. The market in Asia-Pacific is expected to grow at a significant rate due to increase in number of high net worth individuals and growing tourism industry.
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Table Of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Luxury Goods Market by Product Type
Chapter 5: Luxury Goods Market, By Gender
Chapter 6 Luxury Goods Market, By Mode of Sale
Chapter 7: Luxury Goods Market by Geography
Chapter 8: Company Profiles
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