Global Luxury Goods Market Report to 2030 - E-Commerce Retail Spurs Sales of Luxury Goods
Sunday, April 16, 2023
DUBLIN, March 14, 2023 /PRNewswire/ -- The "Luxury Goods: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
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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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