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Global Luxury Goods Market to reach USD 468 billion by the end of 2030.

Global Luxury Goods Market Size study & Forecast, by Product (Watches & Jewelry, Perfumes & Cosmetics, Clothing, Bags & Purses, Others), by Distribution Channel (Online and Offline), by End User (Women and Men), and Regional Analysis, 2023-2030

Product Code: OIRCGS-67464172
Publish Date: 19-06-2023
Page: 200

Global Luxury Goods Market is valued at approximately USD 331.6 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 4.62% over the forecast period 2023-2030. Rapidly growing e-commerce enables easy access to buying and selling of luxury items across the globe and helps in generating revenue for the brands, increasing social media users anticipated to bring a positive impact on the Global Luxury Goods Market because it provides a platform to promote and advertise their brands and luxury items by hiring social media influencers to reach a wide range of customers around the globe.

According to India Brand Equity Foundation (IBEF) in 2021, the Digital India program has resulted in a significant increase in internet connections, reaching a total of 830 million. Urban areas accounted for approximately 55% of connections, with 97% of those being wireless. According to the same source mentioned above The number of smartphones in use has also increased dramatically and is predicted to reach 1 billion by 2026. This has a direct impact on the e-commerce market due to which the Global Luxury Market should get benefited. According to Statista in 2021 The number of social media users was 4.59 billion and is expected to grow to approximately 6 billion by 2027. All these factors expected to bring a positive impact on the Global Luxury Goods Market as it makes the demand and supply of the goods easy and accessible to the world. Moreover, personalization and emerging markets such as China, India, and so on, may emerge as to be growth opportunities for this market. However, economic fluctuation and counterfeit products are some of the factors that may hamper the overall growth of the market during the forecast years 2023-2030.

The key regions considered for the Global Luxury Goods Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Europe region dominated the market owing to the fact that the region has the presence of most of the key players in the global market such as Burberry, L’Oréal, and Others. Asia Pacific region emerges as to be the fastest growing region because of the rise in population and growing use of smartphones and internet connection. Moreover, countries such as India emerge as the fastest growing economy in the world which constitutes the rise in Per Capita Income of the Consumers, Disposable Income of the Consumers and Purchasing Power Parity (PPP).

Major market player included in this report are:
LVMH Moët Hennessy Louis Vuitton SE
Gucci Fashion Company
Chanel Fashion Company
Hermès International S.A.
Cartier International SNC
Christian Dior SE
Montres Rolex SA
Estée Lauder Companies Inc.
Tiffany & Company
Gianni Versace S.r.I.

Recent Developments in the Market:
Ø In November 2022, Estee Lauder Cos Inc. is making a deal to buy Tom Ford for about USD 2.8 billion including debt to bet the competition of others in acquiring the luxury fashion brands in the global market.
Ø In September 2020, Amazon revealed the plan for a new online luxury store that was expected to help in connecting well-heeled customers with the top-notch brands. The first company that got listed on this platform was Oscar de la Renta which has shown its 2020 collection.

Global Luxury Goods Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Product, Distribution Channel, End Users, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product:
Watches & jewelry
Perfumes & Cosmetics
Bags & Purses

By Distribution Channel:

By End Users:

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Luxury Goods Market, by Region, 2020-2030 (USD Billion)
1.2.2. Luxury Goods Market, by Product, 2020-2030 (USD Billion)
1.2.3. Luxury Goods Market, by Distribution Channel, 2020-2030 (USD Billion)
1.2.4. Luxury Goods Market, by End Users, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Luxury Goods Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Luxury Goods Market Dynamics
3.1. Luxury Goods Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Growing E-Commerce industry Increasing Social Media Users
3.1.2. Market Challenges Economic Fluctuation Counterfeit Products
3.1.3. Market Opportunities Personalization of Products Emerging Markets for Social Networking App
Chapter 4. Global Luxury Goods Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Luxury Goods Market, by Product
5.1. Market Snapshot
5.2. Global Luxury Goods Market by Product, Performance – Potential Analysis
5.3. Global Luxury Goods Market Estimates & Forecasts by Product 2020-2030 (USD Billion)
5.4. Luxury Goods Market, Sub Segment Analysis
5.4.1. Watches & Jewelry
5.4.2. Perfumes & Cosmetics
5.4.3. Clothing
5.4.4. Bags & Purses
5.4.5. Other
Chapter 6. Global Luxury Goods Market, by Distribution Channel
6.1. Market Snapshot
6.2. Global Luxury Goods Market by Distribution Channel, Performance – Potential Analysis
6.3. Global Luxury Goods Market Estimates & Forecasts by Distribution Channel 2020-2030 (USD Billion)
6.4. Luxury Goods Market, Sub Segment Analysis
6.4.1. Online
6.4.2. Offline
Chapter 7. Global Luxury Goods Market, by End Users
7.1. Market Snapshot
7.2. Global Luxury Goods Market by End Users, Performance – Potential Analysis
7.3. Global Luxury Goods Market Estimates & Forecasts by End Users 2020-2030 (USD Billion)
7.4. Luxury Goods Market, Sub Segment Analysis
7.4.1. Women
7.4.2. Men
Chapter 8. Global Luxury Goods Market, Regional Analysis
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Luxury Goods Market, Regional Market Snapshot
8.4. North America Luxury Goods Market
8.4.1. U.S. Luxury Goods Market Product breakdown estimates & forecasts, 2020-2030 Distribution Channel breakdown estimates & forecasts, 2020-2030 End Users breakdown estimates & forecasts, 2020-2030
8.4.2. Canada Luxury Goods Market
8.5. Europe Luxury Goods Market Snapshot
8.5.1. U.K. Luxury Goods Market
8.5.2. Germany Luxury Goods Market
8.5.3. France Luxury Goods Market
8.5.4. Spain Luxury Goods Market
8.5.5. Italy Luxury Goods Market
8.5.6. Rest of Europe Luxury Goods Market
8.6. Asia-Pacific Luxury Goods Market Snapshot
8.6.1. China Luxury Goods Market
8.6.2. India Luxury Goods Market
8.6.3. Japan Luxury Goods Market
8.6.4. Australia Luxury Goods Market
8.6.5. South Korea Luxury Goods Market
8.6.6. Rest of Asia Pacific Luxury Goods Market
8.7. Latin America Luxury Goods Market Snapshot
8.7.1. Brazil Luxury Goods Market
8.7.2. Mexico Luxury Goods Market
8.8. Middle East & Africa Luxury Goods Market
8.8.1. Saudi Arabia Luxury Goods Market
8.8.2. South Africa Luxury Goods Market
8.8.3. Rest of Middle East & Africa Luxury Goods Market

Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. LVMH Moët Hennessy Louis Vuitton SE Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.3.2. Gucci Fashion Company
9.3.3. Chanel Fashion Company
9.3.4. Hermès International S.A.
9.3.5. Cartier International SNC
9.3.6. Christian Dior SE
9.3.7. Montres Rolex SA
9.3.8. Estée Lauder Companies Inc.
9.3.9. Tiffany Company
9.3.10. Gianni Versace S.r.I.
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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