According to Goldstein Research, global luxury goods market is expected to reach USD 295.7 billion by 2024 from USD 214.5 billion in 2016, growing at a CAGR of 4.0% over the forecast period 2016-2024. Growing high net worth income (HNWI) of people across the globe is one of the major factors driving the growth of luxury goods market. Global HNWI value is expected to reach USD 100 trillion by the end of 2025. Global luxury goods market segmentation has been done on the basis of product type, distribution channel and geography. Wearable accessories contribute the major share in the luxury goods market followed by the designer apparels and beauty products.

Global luxury goods industry is largely dominated by North America with 34% revenue share in the total market. North America is closely followed by Europe with 32% share in global luxury goods market. Europe's luxury good market is growing on the back of high net worth income of people in the region.

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Market Segmentation

On the basis of our in-depth analysis, Global Luxury Goods Market can be segmented as follows:

By Product Type

o Designer Apparel and footwear
o Accessories
o Luxury Jewellery
o Cosmetic and Beauty Products
o Fine wine & Spirits
o Others (Electric gadgets, etc)

By Distribution Channels

o Offline Channels
o Online Channels

By Region

o North America (US, Canada) {Market Share (%), Market Size (USD Billion, Adoption Rate (%)}
o Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
o Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
o Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
o Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
o Rest of the World {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}

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“Global Luxury Goods Market Outlook 2024” contains detailed overview of the global luxury goods market. On the basis of our in-depth analysis, market can be segmented in terms of market segmentation by product type and distribution channel.

Further, for the in-depth analysis, Global Luxury Goods Market Report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This market report also includes competitive outlook of some of the major players profiling of companies such as LVMH, Luxottica Group, Kering SA, The Swatch Group Ltd., Ralph Lauren corporation, Hermes International Group, L'Oreal Luxe, Rolex SA, Prada Group, Burberry Group plc, etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.

Overall, the report represents the global luxury goods market size along with market forecast that will help industry consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

About Goldstein Research

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Our mission is simple: to develop insightful business solutions, help our clients make powerful future decisions to keep them well ahead of the game which is the market, and leave a mark across businesses and communities through our well-defined ideas and clear cut forecasts. Our industry analysis reports provide in-depth analysis of global and regional variations along with competitors’ overview.

Our analysts working on consumer goods industry analysis reports to help various tech-giants, tech start-ups and entry players to assess the current and upcoming business scenario. We believe in vigorous examination of the current market scenario and build around creative ideas and approaches that are most suitable to our clients’ needs and business agenda.


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