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 Russia–Ukraine 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
No. of Pages
2022 – 2030
Estimated Market Value (USD) in 2022
Forecasted Market Value (USD) by 2030
Compound Annual Growth Rate
Key Topics Covered:
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
- 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
For more information about this report visit https://www.researchandmarkets.com/r/6l0yej
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets
Originally published at https://www.prnewswire.com/news-releases/global-luxury-goods-market-report-to-2030—e-commerce-retail-spurs-sales-of-luxury-goods-301771917.html
Some images courtesy of https://pixabay.com
The post Global Luxury Goods Market Report to 2030 – E-Commerce Retail Spurs Sales of Luxury Goods first appeared on TREND MAG.