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Global Luxury Goods Market, By Type, By Distribution Channel, By Region, Competition, Forecast and Opportunities, 2026

Global Luxury Goods Market, By Type, By Distribution Channel, By Region, Competition, Forecast and Opportunities, 2026

  • October 2021
  • 112 pages
  • ID: 6156161
  • Format: PDF
  • TechSci Research

Summary

Table of Contents

Global Luxury Goods Market, By Type (Jewelry & Watches, Clothing & Footwear, Bags & Accessories and Cosmetics & Fragrances), By Distribution Channel (Exclusive Stores, Airports, E-Commerce, Specialty Stores and Others (Departmental Stores, Hypermarket/Supermarket, Multi-Branded Stores, etc.)), By Region, Competition, Forecast and Opportunities, 2026

Global luxury goods market valued at USD258.12 billion in 2020 and is expected to reach USD429.81billion in 2026, growing at a CAGR of 9.22% during the forecast period. The global luxury goods market is driven by rising disposable income, increasing social media penetration, increasing per capita expenditure and evolution in fashion industry. Moreover, globalization of entertainment industry through televisions shows and online video content has changed the consumer preferences toward the luxury goods across the globe. The demand for luxury goods has witnessed a considerable increase worldwide, due to various social, economic, and cultural changes across the globe.

The global luxury goods market is segmented on the basis of type, distribution channel, company, and region.In terms of type the jewelry & watches segment is dominating the global luxury goods market due to growing focus on changing lifestyle and latest fashion trends.

However, cosmetics & fragrances segment is expected to grow at the fastest rate due to growing concerns regarding appearance and increasing aging population.

Regionally, global luxury goods market has been segmented into various regions including Asia-Pacific, Europe, North America, South America and Middle East and Africa. Among these regions, Europe is the leading market followed by North America and Asia-Pacific, due to the presence of large number of millennial consumers, strong economic condition and presence of various brands.

The major players operating in the global luxury goods market are LVMH Moët Hennessy Louis Vuitton, Compagnie Financière Richemont SA, Kering, The Estée Lauder Companies Inc., L’Oréal S.A, and others. To remain competitive in the market companies are continuously engaging in mergers & acquisitions, store network expansion, new brands and product launches, and are shifting towards e-commerce and adopting other strategic developments. In June 2021, Swatch Group introduced the first bio ceramic watch, which reflects a new era of sustainability and design in the watch industry. This latest bio ceramic watch is made from two-third ceramic and one-third bio-sourced plastic which is soft and silky to touch and resilient for everyday wear. Thus, the companies are introducing various models that suit the evolving consumer demand. Additionally, during the pandemic the companies were taking virtual initiatives to get closer to customers. During March 2020, Prada Group opened two flagship stores, one for Prada brand and one for Miu Miu fashion label and these stores attracted approximately 47000 followers for Prada brand and 24000 followers for Miu Miu within couple of weeks after the launch. Likewise, during the coronavirus crisis, Gucci brand designed a new app to engage with customers which has variety of features including wall papers, video games, stickers, emojis and motifs and AR virtual try-on and virtual interior decorating capabilities. The brand has also launched Spotify and playlists for customers with ‘music to cook to’ during quarantine. Nowadays, sustainability becomes a core value for luxury goods companies since fashion designers and companies have started adopting sustainability as a part of their corporate strategies, which is changing mindset in the industry.

Years considered for this report:

Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021E
Forecast Period: 2022F–2026F

Objective of the Study:

• To analyze historical growth in the market size of the global luxury goods market from 2016-2020.
• To estimate and forecast the market size of global luxury goods market from 2021 to 2026 and growth rate until 2026.
• To define, classify and forecast the global luxury goods market based on Type, distribution channel, region and company.
• To identify the dominant region or segment in the global luxury goods market.
• To identify drivers and challenges for the global luxury goods market.
• To examine competitive developments such as expansion, new product launches, mergers and acquisitions, etc. in the global luxury goods market.
• To identify and analyze the profile of leading players operating in the global luxury goods market.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of manufacturers across the globe.

Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.

Through this technique, the analyst could include the manufacturers which could not be identified due to the limitations of secondary research. The analyst examined the manufacturers, distribution channels and presence of all major players across the globe.
The analyst calculated the market size of the global luxury goods market using a bottom-up and top-down approach, wherein data for various types of luxury goods segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated them through analyzing historical data of these types and distribution channels for getting an appropriate, overall market size.

Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations, and financial reports were also studied by the analyst.

Key Target Audience:

• Luxury goods manufacturers, suppliers, distributors and other stakeholders.
• Government bodies such as regulating authorities and policy makers.
• Market research and consulting firms.
• Organizations, forums and alliances related to luxury goods.
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, global luxury goods market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

o Global Luxury Goods Market, By Type:
o Jewelry & Watches
o Clothing & Footwear
o Bags & Accessories
o Cosmetics & Fragrances
o Global Luxury Goods Market, By Distribution Channel:
o Exclusive Stores
o Airports
o E-Commerce
o Specialty Stores
o Others (Departmental Stores, Hypermarket/Supermarket, Multi-Branded Stores, etc.)
o Global Luxury Goods Market, By Region:
o Europe
o France
o Italy
o Germany
o Spain
o Switzerland
o North America
o United States
o Canada
o Mexico
o Asia-Pacific
o China
o Japan
o South Korea
o India
o Singapore
o South America
o Brazil
o Argentina
o Colombia
o Middle East and Africa
o UAE
o Saudi Arabia
o South Africa
o Turkey

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global luxury goods market.

Available Customizations:

With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

o Detailed analysis and profiling of additional market players (up to five).

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