Global Luxury Goods Industry

Global Luxury Goods Industry

  • January 2021 •
  • 409 pages •
  • Report ID: 5817957 •
  • Format: PDF
Project Details:
- StrategyR - A Trademark of Global Industry Analysts, Inc.
- Project Edition: 18
- Influencer Pool: 1841
- MarketGlass™ Platform - Our influencer driven interactive research platform draws from unique perspectives of participating executives from featured companies. In addition to being a global intelligence exchange platform, MarketGlass™ is a powerful knowledge center that delivers dynamic project-focused market intelligence. Client companies will have complete insider access to the project Data stack.
- Interactive peer-to-peer and enterprise-to-enterprise ideation and market intelligence exchange is facilitated via a robust, secure, and validated process. The process draws from uniquely qualified project-specific and geographically focused executives overseeing business development, marketing and sales operations.
  • Trends & Factors - Identifying and validating local trends and factors driving each competitive marketplace. These factors include pricing variances, market trajectories, Covid-19 impact and recovery, locally active leading brands, and other parameters impacting the region in the short to medium term such as supply chain realignments.
  • Mobile Access & App - Our mobile version of the report may be accessed via our mobile app or directly for a full mobile experience.
  • Complimentary Updates - for one year. At least one update in 12-month period is normal and anytime there’s a significant change affecting the market dynamics.
  • Bespoke Updates & Team Collaborations - Clients may build a bespoke version of our report with peers on our MarketGlass™ platform which enables multidimensional data simulations.
  • Knowledge Center - clients have full-stack data access for project data they support or purchase including primary research engagement stats, companies and executives.


Abstract:
- Global Luxury Goods Market to Reach $312.8 Billion by 2027
- Amid the COVID-19 crisis, the global market for Luxury Goods estimated at US$224.8 Billion in the year 2020, is projected to reach a revised size of US$312.8 Billion by 2027, growing at a CAGR of 4.8% over the analysis period 2020-2027. Apparel, one of the segments analyzed in the report, is projected to record a 6.2% CAGR and reach US$93.9 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Cosmetics & Perfumes segment is readjusted to a revised 5.1% CAGR for the next 7-year period.
- The U.S. Market is Estimated at $49.5 Billion, While China is Forecast to Grow at 6.7% CAGR
- The Luxury Goods market in the U.S. is estimated at US$49.5 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$33.9 Billion by the year 2027 trailing a CAGR of 6.7% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.8% and 5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.5% CAGR.
- Watches & Jewelry Segment to Record 4.2% CAGR
- In the global Watches & Jewelry segment, USA, Canada, Japan, China and Europe will drive the 3.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$34.2 Billion in the year 2020 will reach a projected size of US$44.5 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$49.2 Billion by the year 2027, while Latin America will expand at a 4.8% CAGR through the analysis period.

Select Competitors (Total 169 Featured) -
  • Burberry Group Plc
  • Chanel S.A.
  • Cie Financiere Richemont SA
  • Giorgio Armani SpA
  • Hermès International S.A.
  • Kering S.A.
  • L’Oréal S.A.
  • Luxottica Group S.p.A.
  • LVMH Moët Hennessy Louis Vuitton
  • Mulberry Group PLC
  • Prada S.p.A.
  • Ralph Lauren Corporation
  • Rolex SA
  • The Estée Lauder Companies Inc.
  • The Swatch Group Ltd.
  • Gianni Versace S.r.l.