Global Luxury Goods
Market Report
2025
Delivery Includes:- Market Timeline 2021 till 2033, Market Size, Revenue/Volume Share, Forecast and CAGR, Competitor Analysis, Regional Analysis, Country Analysis, Segment Analysis, Market Trends, Drivers, Opportunities, Restraints, ESG Analysis, Porters Analysis, PESTEL Analysis, Market Attractiveness, Patent Analysis, Technological Trend, SWOT Analysis, COVID-19 Analysis, Consumer Behavior Analysis, etc.
The base year for the calculation is 2024. The historical will be 2021 to 2024. The year 2025 will be estimated one while the forecasted data will be from year 2025 to 2033. When we deliver the report that time we updated report data till the purchase date.
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According to cognitive market research, the global Luxury Goods Market size was valued at USD xx billion in 2024 and is expected to reach USD xx billion at a CAGR of xx% during the forecast period.
2024 | 2025 | 2032 | 2033 | CAGR | |
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Global Market Size | 121212 | 121212 | 121212 | 121212 | 121212 |
Country Market Size | 121212 | 121212 | 121212 | 121212 | 121212 |
North Americ Market Size | 121212 | 121212 | 121212 | 121212 | 121212 |
Europe Market Size | 121212 | 121212 | 121212 | 121212 | 121212 |
Asia Pacific Market Size | 121212 | 121212 | 121212 | 121212 | 121212 |
South America Market Size | 121212 | 121212 | 121212 | 121212 | 121212 |
Middle East and Africa Market Size | 121212 | 121212 | 121212 | 121212 | 121212 |
Base Year | 2024 |
Historical Data Time Period | 2021-2024 |
Forecast Period | 2025-2033 |
Market Split by Product Type |
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Market Split by End User |
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Market Split by Distribution Channel |
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Market Split by Conclusion | |
List of Competitors |
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Regional Analysis |
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Country Analysis |
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Market Drivers:
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Market Restrains:
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Market Trends:
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Report scope is customizable as we have a huge database of Luxury Goods industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Luxury Goods Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Luxury items are not necessarily to be live but they are highly desirable to the culture or society. Luxury goods are sensitive to a person’s income as the income increases the demand for luxury goods also increases. Premium goods are the key to showing the entire status of the owner as only a small amount of the population can afford these luxury goods. According to data, 14% of Americans can afford to buy luxury goods and South Korea is the country that spends maximum on luxury goods. As only a small population buys them the companies only target them with creative designs and product cost is not the criteria for this group. The luxury market by 7% year after year. Luxury goods comprise watches, cosmetics, perfumes, jewelry, handbags, accessories, travel goods, and many more. Increasing consumer's income and appetite for high-end fashion and accessories is leading to an increase in the market of luxury goods.
Luxury goods are the primary product for the wealthy population and an increasing number of them led to the expansion of the market. There are 2,781 billionaires in the world, and according to the Hurun Global Rich List, china has the highest number of billionaires 814 in the world. To attract the Gen Z generation and millennials to luxury products businesses are tailoring their product offerings. For example, brands like Louis Vuitton have added customized options or the option of hand paints or adding a hot stamp to their bags. This attracts Gen Z and the wealthy population’s rising desire for high-end fashion goods.
• For Instance, the report by ET BRAND EQUITY.com the billionaires' spending on luxury brands has increased as global financial wealth grew by 10.6% at the fastest rate as compared to the last decade, a hike of $26 trillion in wealth can be seen. Also Hermes International said that they have seen a growth of 24% excluding currency swings.
• For instance, according to the report consultancy.eu there will be a hike in the luxury goods market by 12% and the luxury goods market considering watches, jewelry, and fashion brands are expected to reach €570 billion by 2030, and the market of personal luxury personal care is expected to grow around 10-12%.
(Source:https://www.consultancy.eu/news/9073/global-luxury-goods-industry-could-grow-by-12-this-year).
The global luxury brand is promoting the use of sustainable and eco-friendly raw material products instead of using animal-based products like leather, the luxury brands have started using plant-based leather like pineapple and other organic resources that can be used to make jackets, footwear, and handbags. Consumers are also demanding sustainable and eco-friendly products. Here are some brands that use vegan or plant-based leather for manufacturing luxury goods Stella McCartney, Gunas, Angela Roi, MATT & NAT, etc. Additionally, the brands also emphasize safe raw materials, less water consumption, and less electricity use throughout the supply chain. Some brands have also used the offer of high-end solar watches made from recycled material.
• For instance, according to the article by Appnova, the demand for sustainability in luxury brands is increasing as per the report there are around 85% of millennials and the Generation Z population help to increase the sales of luxury brands. The study indicates that around 73% of millennials are looking forward to spending more on sustainable luxury products.
(Source:https://www.appnova.com/sustainability-in-luxury-fashion-top-brands-and-their-sustainable-practices/).
The global luxury market is hampered due to the increasing use of secondhand branded products or rental luxury items which are available at lower prices compared to the original price of the luxury items. Also, the products resembling the original brand are sold at a lower price which also restrains the market. One-third of consumers consuming luxury goods are second-hand or pre-owned.
• For Instance, the report by WAVESTONE states that the global luxury second-hand market has been valued at around 35 billion euros with an annual growth rate of 15.50%. The secondhand market is more profitable for the consumers but is a restraint for the market.
(Source:https://www.wavestone.com/en/insight/second-hand-an-expanding-market-for-2024/).
The lower and middle-class population does not usually invest in luxury goods. And being a not-so-essential product, luxury goods suffered a negative impact during the COVID-19 pandemic as consumers were struggling to purchase the essential goods. During the pandemic loss of employment and reduction in salaries led to a reduction in the buying of luxury goods also due to the lockdown there were cancellations and postponements of many fashion-related events and celebrations which impacted the purchase of luxury goods. Also, there were cancellations of trips and tours which reduced the purchase of duty-free goods at the airport and also reduced the buying of luxury goods.
Social media can create brand influence and this would create an opportunity for the brand to grow. The scholar has found that platforms like Weibo can help in disseminating information at a fast pace. Additionally, the brands have to keep up with the time by establishing their presence on social media apps. These luxury brands use apps like Facebook, TikTok, etc for product promotion, new product releases, and even release videos of offline events. These videos help create a more intuitive understanding of the brand for the customers. Promotion and reputation are crucial factors for luxury brands. Exposure is the major factor in social media increasing followers gaining the attention of people and gaining potential consumers for their brand. Luxury brands focus more on the feelings and experiences that their product bring to customers. The analysis states that around 75% of people use social media to gain insights into luxury brand products and around 62.5% of respondents said that they desire to buy luxury brand products after seeing the promotional content.
• For instance, the article published by Croud LUXE states the use of social media in creating opportunities for the luxury brands market to grow. The article states that there is a hike of 8-10% as compared to the last year and the sales are expected to reach £1.17 trillion by the end of 2023, social media plays an important role in driving sales for luxury brands with 87% and 68% consumers have shopped directly one or more than one time directly from social media platform.
• On 1 June 2021, Oerlikon is pleased to announce the successful acquisition of Coeurdor, a top full-service supplier of parts to the rapidly expanding luxury goods market.
• On 19 April 2022, as part of its effort to expand its clean beauty portfolio, Shiseido is launching a new clean beauty brand called Ulé. By 2022, it wants to increase its skin beauty portfolio to make up 75% of overall sales.
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The competitive landscape is the major key players adopt various strategies to maintain growth including joint ventures, introduction of novel products, and merger and acquisition to increase the market growth. Luxury brands have priorities like new product development and partnerships to increase the market. Moreover, to strengthen their position in the market these brands come up with various initiatives such as alliances with other brands, product launches, and acquisitions. Luxury brands are also into exclusivity, quality, and unique designs they also try to evolve with the changing demands and preferences of the customers. Additionally, these key players also are into research and development (R&D) to enhance and expand their product portfolios.
Top Companies Market Share in Luxury Goods Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
Asia-Pacific dominates the luxury goods market, the dominance is supported by the growing income of the middle class and fueled the demand for the luxury goods. The younger generation wants to possess a prominent brand. Additionally, this region has good digital infrastructure which helps this region to access the luxury goods market easily. These factors have made the Asia-Pacific the world's largest spender on luxury goods. Moreover, the growing trend of luxury tourism and the influence of social media has also contributed to the region's dominance in the world luxury market.
North American market is Expanding with the fastest CAGR. The region has a well-established economy and a higher demand of the consumers for luxury goods. The affluent population demands luxury products and that contributes to the expansion of the North American market.
The current report Scope analyzes Luxury Goods Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
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According to cognitive market research, the North American Luxury Goods Market size was valued at USD xx billion in 2024 and is expected to reach USD xx billion at a CAGR of xx% during the forecast period.
According to cognitive market research, the Europe Luxury Goods Market size was valued at USD xx billion in 2024 and is expected to reach USD xx billion at a CAGR of xx% during the forecast period.
According to cognitive market research, the Asia-Pacific Luxury Goods Market size was valued at USD xx billion in 2024 and is expected to reach USD xx billion at a CAGR of xx% during the forecast period.
According to cognitive market research, the South American Luxury Goods Market size was valued at USD xx billion in 2024 and is expected to reach USD xx billion at a CAGR of xx% during the forecast period.
According to cognitive market research, the Middle East and Africa Luxury Goods Market size was valued at USD xx billion in 2024 and is expected to reach USD xx billion at a CAGR of xx% during the forecast period.
Global Luxury Goods Market Report 2025 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Luxury Goods Industry growth. Luxury Goods market has been segmented with the help of its Product Type, End User Distribution Channel , and others. Luxury Goods market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Based on the product type the market is divided into different- different segments like cosmetics & Fragrance, Designer clothing and accessories, Jewelry & timepieces, Travel goods, Fine wines & spirits. Designer apparel and accessories dominate the luxury goods market as they show markers of class and style, which attracts customers. These objects show the peak of the fashion trend craftsmanship and luxury brands try to satisfy the desire for exclusive and distinct products. The regular launching of new clothes and accessories keeps this department fresh and intriguing. Additionally, these luxury fashion brands invest more in the promotion and marketing of the brand so that they can have the upper hand and lead the market position.
• For Instance, the article by FASHION UNITED states that the United States and China are the largest apparel retail markets in the world. The world’s apparel retail market is expected to enjoy 6.1% growth in the year 2022-2023 to $1.95 billion in 2023. China is the largest export.
(Source:https://fashionunited.com/global-fashion-industry-statistics).
• For instance, according to the article published by EMARKETER the top product categories on which US customers spend. Personal luxury sales are around $109.25 billion and more than one-fifth of that comes from e-commerce. And the maximum spend is on footwear, then handbags followed by cosmetics apparel, and so on.
(Source:https://www.emarketer.com/content/top-luxury-categories-among-us-consumers).
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Luxury Goods Industry. Request a Free Sample PDF!
Based on the end-users the market is divided into Women, Men,. The women’s section dominated the market in terms of luxury goods. Women do spend more the luxury goods like jewelry, clothing, cosmetics, and accessories. Women tend to spend more on self-expression and personal care through high-quality and brand products. Additionally, luxury brands have targeted female consumers since starting with marketing methods that can cater to their likes and preferences. The women’s growing purchase power and becoming financially independent have strengthened their position in the market. According to the HARWARD REVIEW, women control about $20 trillion in annual consumer spending, and this figure is expected to reach about $28 trillion by the next 5 years.
• For Instance, the article published by Savemycents states that luxury goods generated $224.8 billion in 2020, and the top 100 luxury companies generated around $2.8 billion while the market is expected to reach $68.5 billion. And women within the age range of 25-34 are the most frequent visitors to the luxury stores
(Source:https://savemycent.com/luxury-shopping-statistics/).
The above Graph is for representation purposes only. This chart does not depict actual Market share.
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Research Analyst at Cognitive Market Research
I am a research analyst working in various domains including the Consumer Goods domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.
Sneha Mali is a research analyst working in various domains including the Consumer Goods, market research and transport & logistics and her primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. Her knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively.Sneha stay up-to-date with the latest research trends, methodologies, and technologies to ensure that her research is accurate, relevant, and impactful.
In her current role, Sneha is committed to continuous learning and staying abreast of emerging trends in research methodologies. Regular participation in workshops, webinars, and industry conferences ensures that her skills remain sharp and relevant. She have demonstrated ability to transform complex data sets into clear and concise narratives that inform key business strategies. Collaborating with cross-functional teams.Sneha remains an invaluable asset in the dynamic landscape of market research.
Luxury items are not necessarily to be live but they are highly desirable to the culture or society. Luxury goods are sensitive to a person’s income as the income increases the demand for luxury goods also increases. Premium goods are the key to showing the entire status of the owner as only a small amount of the population can afford these luxury goods. Despite challenges like economic fluctuations, counterfeiting, and changing consumer behavior, the market remains resilient. Leading brands are adopting new technology, expanding their digital presence, and prioritizing sustainability. The future of luxury goods looks promising with continuous expansion and evolution to meet the customer's demand.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Product Type | Watches & Jewelry, Perfumes & Cosmetics, Clothing, Bags/Purses, Others |
End User | Women, Men |
Distribution Channel | Online, Offline |
Conclusion | |
List of Competitors | LVMH Group, Chanel LTD, Burberry Group PLC, Prada S.p.A, Kering SA, Coty Inc., Estée Lauder Companies Inc., Shiseido Company, Limited, L'Oréal S.A., Hermès International S.A., Audemars Piguet Holding SA, PATEK PHILIPPE SA, Rolex SA, Omega, RALPH LAUREN, Richemont S.A., Swarovski, Pandora Inc., Hugo Boss AG |
This chapter will help you gain GLOBAL Market Analysis of Luxury Goods. Further deep in this chapter, you will be able to review Global Luxury Goods Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
This chapter will help you gain North America Market Analysis of Luxury Goods. Further deep in this chapter, you will be able to review North America Luxury Goods Market Split by various segments and Country Split.
Chapter 2 North America Market Analysis
This chapter will help you gain Europe Market Analysis of Luxury Goods. Further deep in this chapter, you will be able to review Europe Luxury Goods Market Split by various segments and Country Split.
Chapter 3 Europe Market Analysis
This chapter will help you gain Asia Pacific Market Analysis of Luxury Goods. Further deep in this chapter, you will be able to review Asia Pacific Luxury Goods Market Split by various segments and Country Split.
Chapter 4 Asia Pacific Market Analysis
This chapter will help you gain South America Market Analysis of Luxury Goods. Further deep in this chapter, you will be able to review South America Luxury Goods Market Split by various segments and Country Split.
Chapter 5 South America Market Analysis
This chapter will help you gain Middle East Market Analysis of Luxury Goods. Further deep in this chapter, you will be able to review Middle East Luxury Goods Market Split by various segments and Country Split.
Chapter 6 Middle East Market Analysis
This chapter will help you gain Middle East Market Analysis of Luxury Goods. Further deep in this chapter, you will be able to review Middle East Luxury Goods Market Split by various segments and Country Split.
Chapter 7 Africa Market Analysis
This chapter provides an in-depth analysis of the market share among key competitors of Luxury Goods. The analysis highlights each competitor's position in the market, growth trends, and financial performance, offering insights into competitive dynamics, and emerging players.
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
This chapter would comprehensively cover market drivers, trends, restraints, opportunities, and various in-depth analyses like industrial chain, PESTEL, Porter’s Five Forces, and ESG, among others. It would also include product life cycle, technological advancements, and patent insights.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Product Type Analysis 2019 -2031, will provide market size split by Product Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Product Type Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by End User Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 12 Market Split by Distribution Channel Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 13 Market Split by Conclusion Analysis 2021 - 2033
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Luxury Goods market
Chapter 14 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Chapter 15 Research Methodology and Sources
Why Watches & Jewelry have a significant impact on Luxury Goods market? |
What are the key factors affecting the Watches & Jewelry and Perfumes & Cosmetics of Luxury Goods Market? |
What is the CAGR/Growth Rate of Women during the forecast period? |
By type, which segment accounted for largest share of the global Luxury Goods Market? |
Which region is expected to dominate the global Luxury Goods Market within the forecast period? |
Segmentation Level Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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Report Format Alteration |
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