Market Research Reports

Global Luxury Goods Market - Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2014 - 2020

42pages
Published Date: 2014-10-27
 

Description


The luxury goods market has been witnessing major growth due to the addition of new high net-worth customers.. A major transformation has happened with regard to lifestyle of wealthy young and affluent customers, who are extremely brand-conscious these days. Companies are forming various strategies to cater to customers in the most effective manner. Development of mobile applications, websites, and campaigns on social networking sites are some initiatives companies are adopting in order to attract new customers and engage old ones. The global luxury goods market is characterized by large number of mergers and acquisitions, thus making it highly consolidated in the near future. Different segments adopt unique strategies to develop their product lines. Some companies are focusing on distribution, while others are producing unique high-priced products in the form of limited editions.

This study offers a competitive analysis of the global luxury goods market by type and by geography. The report also contains further segmentation by type across major geographies. In addition, it provides current and forecast market size by revenue for major luxury products for the period 2014–2020. The report discusses current and future trends for major regions and countries in a precise manner. Furthermore, the report also presents the current market size of each country in major regions and their respective projected market size in 2020. Major players in the global luxury goods market include LVMH Group, Kering S.A., Rolex S.A., L’Oreal Group, Tiffany & Co., Coty, Inc., The Swatch Group Ltd., Prada S.p.A, Compagnie Financière Richemont S.A., Hermes International SCA, Graff Diamonds, Burberry Group plc, Revlon, Inc., and Avon Products, Inc.

The global luxury goods market is expected to grow moderately over the forecast period. However, the market in Rest of the World (RoW) and Asia Pacific (APAC) is likely to grow at a healthy CAGR, owing to major lifestyle changes among consumers in these regions. In addition, consumers in these regions are well-informed about the various fashion trends around the world. Therefore, the market in RoW and APAC regions are poised to grow briskly between 2014 and 2020. The market has been segmented by product type into luxury watches & jewelry, apparels and leather goods, luxury personal care & cosmetics, wines/champagne and spirits, fragrances, and others.

The report includes major drivers of the luxury goods market in the present scenario. Additionally, restraints and opportunities for the same are discussed in detail. The market overview comprises value chain analysis, which describes various stages where companies can add value and strengthen their positions in the market. Furthermore, the report analyzes macro economic factors influencing and inhibiting growth of the global luxury goods market. Porter’s Five Forces analysis offers insights on market competition throughout its value chain. The market attractiveness analysis highlights key investing areas in this industry.

Extensive secondary research and primary interviews has been performed to capture only genuine information for analysis in this report. 

The global luxury goods market here refers to the market by type and by geography, and is categorized into the following segments:

Global luxury goods market by type

The different types covered under this research study are defined as follows:
  • Luxury Watches & Jewelry
  • Apparels and Leather Goods
  • Luxury Personal Care & Cosmetics
  • Wines/Champagne and Spirits
  • Fragrances
  • Others (tableware, luxury pens)
In addition, the report provides a cross-sectional analysis of all the above segments with respect to the following geographical markets:
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
In-depth research and high-level analysis will enable market vendors and research and development agencies to make informed decisions about the global luxury goods market, formulate growth strategies, and gain competitive advantage. This study serves to assist manufacturers, suppliers, distributors, and retailers in this market and industry to formulate and develop their strategies.

Table of Contents



Chapter 1 Preface
1.1 Report Description
1.2 Research Scope
1.3 Market Segmentation
1.4 Research Methodology

Chapter 2 Executive Summary
2.1 Global Luxury Goods Market, 2012–2020 (USD Million)
2.2 Global Luxury Goods Market Snapshot, 2013 Vs. 2020 (USD Billion)

Chapter 3 Global Luxury Goods Market: Product Segment Analysis
3.1 Global Luxury Goods Market By Product Segment: Overview
      3.1.1 Luxury Goods, By Product Segment: Market Analysis
      3.1.2 Global Luxury Goods Market, By Product Segments: Revenue Share
3.2 Luxury Watches & Jewelry
      3.2.1 Luxury Goods In Luxury Watches & Jewelry: Market Analysis
      3.2.2 Luxury Goods In Luxury Watches & Jewelry: Trend Analysis
3.3 Apparels And Leather Goods
      3.3.1 Luxury Goods In Apparels And Leather Goods: Market Analysis
      3.3.2 Luxury Goods In Apparels And Leather Goods: Trend Analysis
3.4 Luxury Personal Care & Cosmetics
      3.4.1 Luxury Goods In Luxury Personal Care & Cosmetics: Market Analysis
      3.4.2 Luxury Goods In Luxury Personal Care & Cosmetics: Trend Analysis
3.5 Wines/Champagne And Spirits
      3.5.1 Luxury Goods In Wine/Champagne And Spirits: Market Analysis
      3.5.2 Luxury Goods In Wine/Champagne And Spirits: Trend Analysis
3.6 Fragrances
      3.6.1 Luxury Goods In Fragrances: Market Analysis
      3.6.2 Luxury Goods In Fragrances: Trend Analysis
3.7 Others
      3.7.1 Luxury Goods In Others Segment: Market Analysis
      3.7.2 Luxury Goods In Others Segment: Trend Analysis

Chapter 4 Luxury Goods Market: Geographic Analysis
4.1 Global Luxury Goods Market, By Geography: Market Overview
      4.1.1 Luxury Goods, By Geography: Market Analysis
      4.1.2 Luxury Goods Market, By Geography: Market Share
4.2 North America
      4.2.1 North America Luxury Goods Market Analysis: By Type
      4.2.2 North America Luxury Goods Market: Trend Analysis
      4.2.3 North America Luxury Goods Market, By Country: Market Share
4.3 Europe
      4.3.1 Europe Luxury Goods Market Analysis: By Type
      4.3.2 Europe Luxury Goods Market: Trend Analysis
      4.3.3 Europe Luxury Goods Market, By Country: Market Share
4.4 Asia Pacific
      4.4.1 Asia Pacific Luxury Goods Market Analysis, By Type
      4.4.2 Asia Pacific Luxury Goods Market: Trend Analysis
      4.4.3 Asia Pacific Luxury Goods Market, By Country: Market Share
4.5 Row
      4.5.1 Row Luxury Goods Market Analysis, By Type
      4.5.2 Row Luxury Goods Market: Trend Analysis
      4.5.3 Row Luxury Goods Market By Country: Market Share

LIST OF FIGURES 

fig. 1 Luxury Goods Market Segmentation, By Product Segment & By Geography
Fig. 2 Global Luxury Goods Market, 2012–2020 (USD Million)
Fig. 3 Global Luxury Goods Market Revenue Share, By Product Segment, 2013 And 2020 (Value %)
Fig. 4 Global Luxury Goods In Luxury Watches & Jewelry, 2012–2020 (USD Billion)
Fig. 5 Global Luxury Goods In Apparels And Leather Goods, 2012–2020 (USD Billion)
Fig. 6 Global Luxury Goods In Luxury Personal Care & Cosmetics, 2012–2020 (USD Billion)
Fig. 7 Global Luxury Goods In Wine/Champagne And Spirits, Revenue, 2012–2020 (USD Billion)
Fig. 8 Global Luxury Goods In Fragrances, Revenue, 2012–2020 (USD Billion)
Fig. 9 Global Luxury Goods In Others, Revenue, 2012–2020 (USD Billion)
Fig. 10 Global Luxury Goods Market Share, By Geography, 2013 And 2019 (%)
Fig. 11 North America Luxury Goods, By Revenue, 2012–2020 (USD Million)
Fig. 12 North America Luxury Goods Market Share, By Countries, 2013 And 2019 (%)
Fig. 13 Europe Luxury Goods, By Revenue, 2012–2020 (USD Million)
Fig. 14 Europe Luxury Goods Market Share, By Countries, 2013 And 2019 (%)
Fig. 15 Asia Pacific Luxury Goods, By Revenue, 2012–2020 (USD Million)
Fig. 16 Asia Pacific Luxury Goods Market Share, By Countries, 2013 And 2019 (%)
Fig. 17 Row Luxury Goods Market, By Revenue, 2012–2020 (USD Million)
Fig. 18 Row Luxury Goods Market Share, By Countries, 2013 And 2019 (%)

LIST OF TABLES

Table 1 Global Luxury Goods Market Snapshot (2013–2020):
Table 2 Global Luxury Goods Market, By Product Segment, USD Billion (2013–2019)
Table 3 Luxury Goods In Luxury Watches & Jewelry, Regional Analysis, Revenue (USD Billion, 2014–2020)
Table 4 Luxury Goods In Apparels And Leather Goods, Regional Analysis, Revenue (USD Billion, 2014–2020)
Table 5 Luxury Goods In Personal Care & Cosmetics, Regional Analysis, Revenue (USD Billion, 2014–2020)
Table 6 Luxury Goods In Wine/Champagne And Spirits, Regional Analysis, Revenue (USD Billion, 2014–2020)
Table 7 Luxury Goods In Fragrances, Regional Analysis, Revenue (USD Billion, 2014–2020)
Table 8 Luxury Goods In Others, Regional Analysis, Revenue (USD Billion, 2014–2020)
Table 9 Global Luxury Goods Market, By Geography, USD Million (2014–2020)
Table 10 North America Luxury Goods Market, By Type, USD Billion (2014–2020)
Table 11 North America Luxury Goods Market, By Country, USD Million (2012–2020)
Table 12 Europe Luxury Goods Market, By Type, USD Million (2014–2020)
Table 13 Europe Luxury Goods Market, By Country, USD Million (2014–2019)
Table 14 Asia Pacific Luxury Goods Market, By Type, USD Million (2014–2020)
Table 15 Asia Pacific Luxury Goods Market, By Country, USD Million (2012–2020)
Table 16 Row Luxury Goods Market, By Type, USD Million (2014–2020)
Table 17 Row Luxury Goods Market, By Country, USD Million (2014–2020)

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Free Market Analysis


Despite economic turbulence in developed markets and currency devaluation in emerging markets, growth of luxury goods is projected to remain positive over the forecast period. The global market for luxury goods was valued at USD 296.15 billion in 2013 and is expected to reach USD 374.85 billion in 2020, growing at a CAGR of 3.4% from 2014 to 2020. The overall market is expected to demonstrate healthy growth during the forecast period due to increase in the number of high net-worth individuals worldwide, and resilient economy of some of the major developed markets. 

The demand for luxury goods is increasing globally due to the superior standards of living in developing countries. Moreover, increasing use of innovative marketing campaigns and activities through digital media platforms in the travel retail industry are acting as drivers for luxury goods. Currently, growth of this market is hampered by unavailability of raw materials and high tariffs in some potential markets such as Brazil, India, and China. .

Among the different segments, fragrances, premium liquors and luxury watches/jewelry are expected to witness rapid growth, primarily in emerging markets. Currently, leather goods and apparels is the largest application segment for the global luxury goods market, followed by luxury watches and jewelry and is expected to dominate the market by 2020. Luxury goods companies are offering a perfect mix of absolute and affordable luxury goods to capture maximum number of customers in all segments.

global-luxury-goods-market

Europe is the largest regional market for the global luxury goods market, followed by North America. Europe is expected to dominate the luxury goods market in terms of revenue by 2020, as it is still considered the best destination for domestic as well as international fashionable and luxury goods shoppers. Along with standalone own brand stores, online retail and high-end departmental stores is contributing greatly to the growth of global luxury goods market in Europe. Working women, high net-worth individuals, and young affluent buyers are among the potential customers expected to drive the global demand for luxury goods during the forecast period. APAC and RoW are fast-growing markets with large number of newly-listed high net-worth individuals in the past five years. These customers are well-travelled and aware of the latest fashions and trends. With upscale lifestyles and higher purchasing power, these customers are expected to fuel growth of the global luxury goods market in the developing markets of RoW and APAC. 

The global luxury goods market is dominated by several major players such as LVMH, Hermes International S.A., Prada S.p.A., Compagnie Financière Richemont S.A. (hereby referred as Richemont), Kering Group, The L'Oréal Group, Coty, Inc., Tiffany & Company, Rolex S.A., and others. The leading players in the global luxury goods market are acquiring partners to strengthen their respective product offerings. For instance, LVMH acquired Heng Long´s leather business in Singapore in October 2011, in order to strengthen its position in the market, by ensuring continuous supply of finished leather & hide.. Furthermore, Hermes International S.A. acquired d'Annonay tannerie in January 2013. Such acquisitions and mergers are expected to rise in the forecast period. The players in this market are engaging in acquisitions and mergers in order to gain greater control over raw materials supply, in order to produce exclusive goods and lower their total manufacturing costs.
 

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