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Published Date: 2014-10-27Number of Pages: 42

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

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.

 

 

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.

 

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)

Luxury goods are consumer goods marked by high quality, craftsmanship, refinement, and, more often than not, a reputed manufacturer. Luxury goods include items such as jewelry, watches, fragrances and perfumes, apparel, and fine liquor. The demand for luxury goods from a particular region is directly dependent on its economic prosperity, since only the upper economic classes can afford to be sustained buyers of luxury goods. Due to the rising living standards and economic prosperity globally, the global luxury goods market has expanded steadily in the last few years. 

The global luxury goods market was worth US$296.1 bn in 2013 and is expected to rise to a valuation of US$374.8 bn by 2020. This jump illustrates a CAGR of 3.4% from 2014 to 2020.

Overview of the Luxury Goods Market

The report segments the global luxury goods market on the basis of product type and geography. Europe was the largest regional luxury goods market in 2013 and is expected to remain dominant in terms of revenue through the forecast period. The long-established presence of several luxury goods manufacturers in countries such as Italy, France, Switzerland, Germany, and the U.K. is responsible for the dominance of the Europe luxury goods market, since it has resulted in a widespread network of marketing and selling channels for luxury goods. Europe also has a highly dense travel retail network and a high number of duty-free shops, both of which encourage customers to indulge in luxury goods.

The global luxury goods market posted strong growth figures hand in hand with the economic recovery following the 2008 recession, but it has now become a mature market in developed regions. Developing regions such as Asia Pacific and the Middle East present lucrative opportunities for the global luxury goods market owing to the rising living standards and disposable incomes of customers in these regions. The number of high net worth individuals in these regions is also rising rapidly, directly fuelling the global luxury goods market.

Countries with dynamic economies such as the UAE, China, India, Brazil, Thailand, Saudi Arabia, Egypt, Indonesia, Malaysia, Vietnam, South Africa, and Singapore are the most promising regional markets for luxury goods in the forecast period. The number of high net worth individuals in these countries is steadily rising, along with their GDP, resulting in promising opportunities for the luxury goods market. Making the purchase of luxury goods easier for customers in these countries by expanding the sales network has thus emerged as a promising avenue for players in the global luxury goods market.

Based on product type, apparel and leather goods emerged as the largest segment of the global luxury goods market in 2013. Luxury watches and jewelry comprise the second largest product segment of the global market, with other luxury products such as perfumes, wines and spirits, etc. following these two segments.

Global Luxury Goods Market by Product Type

  • Luxury Watches and Jewelry
  • Apparel and Leather Goods
  • Luxury Personal Care Products and Cosmetics
  • Wines and Spirits
  • Fragrances and Perfumes
  • Others

Major regions analyzed in this research report are:

  • Europe
  • North America
  • Asia Pacific
  • Rest of the World

This report gives you access to decisive data such as:

  • Market growth drivers
  • Factors limiting market growth
  • Current market trends
  • Market structure
  • Market projections for the coming years

Key highlights of this report

  • Overview of key market forces propelling and restraining market growth
  • Up-to-date analyses of market trends and technological improvements
  • Pin-point analyses of market competition dynamics to offer you a competitive edge
  • An analysis of strategies of major competitors
  • An array of graphics and SWOT analysis of major industry segments
  • Detailed analyses of industry trends
  • A well-defined technological growth map with an impact-analysis
  • Offers a clear understanding of the competitive landscape and key product segments


 
 
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