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Global Luxury Goods Market Report to 2030 – E-Commerce Retail Spurs Sales of Luxury Goods

DUBLIN, March 14, 2023 /PRNewswire/ — The “Luxury Goods: Global Strategic Business Report” report has been added to  ResearchAndMarkets.com’s offering.


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 RussiaUkraine 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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SOURCE Research and Markets

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