Product Overview

Luxury goods are products of superior performance. Such goods have distinctive craftsmanship and exclusivity that draw buyers to these goods. Consumers and individuals strongly crave luxury items to increase their social status and self-worth. These goods are widely available and can be bought through different distribution outlets, such as wholesale, online, or e-commerce.

Market Highlights

Luxury Goods Market is expected to project a notable CAGR of 3.9% in 2030.

Luxury Goods Market to surpass USD 115.3 Billion by 2030 from USD 29.7 Billion in 2019 in terms of value growing at a CAGR of 3.9% throughout the forecast period, i.e., 2021-30. Significant factors driving global market growth are growing numbers of high-net-worth individuals worldwide, increasing people's disposable income, and increasing spending on luxury goods. In addition, increasing consumer demand for various luxury goods such as jewelry, fragrances and perfumes, cosmetics, clothes, and many more is a key factor expected to drive the growth of the target market due to improved living standards and lifestyles. Growing penetration of the e-commerce industry along with the number of smartphone users around the world are some other factors that are expected to proliferate growth in the global market, resulting in demand for different luxury goods. Moreover, the increasing tendency of jewelry, cosmetics, watches, wine, and spirit products worldwide to buy luxury products is another key factor expected to help the growth of the global luxury goods market during the forecast period due to their premium quality, uniqueness in design, and socioeconomic significance. Besides, other factors that are expected to drive target market growth over the coming years are growing product advertising across social media and increasing perception of personal appearance.

Luxury Goods Market: Segments

Accessories and other luxury goods segment to grow with the highest CAGR during 2021-30

Luxury Goods Market is segmented by product type as designer apparel & footwear, cosmetics, travel goods, fine wines/champagne, jewelry & timepieces, and other luxury goods. The designer apparel & footwear segment is estimated to lead the market with a share of over XX.X% in 2019 followed by jewelry & timepieces. However, the accessories and other luxury goods segments are likely to grow at a fast pace during the forecast period, especially in emerging markets. As the industry experiences an increase in demand for all product segments, manufacturers focus on the craftsmanship and quality of the product. The market for designer wears is high due to regular changes / modifications in fashion style. Trends in fashion mainly depend on culture. Fashion designers face difficulties in adapting their designs to meet consumer requirements due to the differences in cultures between clients in developing economies and those in developed economies.

Female Segment to grow with the highest CAGR during 2021-30

Luxury Goods Market is segmented by Gender into Male and Female. The Female segment accounted for the largest revenue share of XX.X% in 2019 owing to the growing demand among the female population for different luxury items such as cosmetic products, apparel and leather goods, and jewelry and watches, according to current fashion trends around the world. Moreover, the producers of luxury goods are now making significant investments to gain the interest of the younger segment of the population, which includes the potential buyers of luxury goods. Attempts to create demand from the younger generation are likely to drive growth in the world market for luxury goods.

Luxury Goods Market: Market Dynamics

Drivers

Increase in the Rate of Urbanization

Increase in the urban population is one of the influencing factors for the demand for luxury goods. The way people live is influenced by urban culture. In reality, over one-fourth of the world's population lives in rural areas. The influence of this factor is expected to increase over the forecast period, thus fueling the demand for luxury goods. The standard of living among individuals is rising due to higher disposable incomes, lifestyle changes, and a rise in corporate culture. In developing countries, the increased influx of multinational corporations has popularized the market culture of expensive and luxury products. Online purchases are the latest growth in the global luxury goods industry. An increase in the number of online portals as well as their rising popularity has fueled the growth of the industry. Growth in the number of working professionals and busy lifestyles augmented by technological knowledge are the key factors responsible for improving online sales. Online purchases also offer options for direct-to-home delivery, which is one of the key driving factors for both urban and semi-urban clients. The growth in online sales has been limited to developed countries, but in developing countries, it has recently gained prominence.

Restrain

Rising availability of counterfeit products

Increased market availability of counterfeit goods, unpredictable economic conditions in developed and developing countries around the world, and currency depreciation are some of the key factors that may limit global market development. The previous economic recession had a negative impact on worldwide luxury goods sales. Market limiting variables may be currency volatility and fewer brand outlets in developing economies. In the luxury goods sector, raw materials also play a critical role and their prices have risen dramatically in the past few years.

Luxury Goods Market: Key Players

The Estee Lauder Companies Inc.

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, and SWOT Analysis.

LOral International

LVMH Group

Kering SA

The Shiseido Company, Ltd.

Prada S.p.A.

Ralph Lauren Corporation

Swatch Group

Luxottica Group S.p.A

Compagnie Financire Richemont SA

Luxury Goods Market: Regions

Luxury Goods Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and Middle East, and Africa.

Luxury Goods Market in Europe led the market with a lion share of more than XX.X% in 2019 and is projected to maintain its lead over the forecast period followed by the market in North America, because of the high disposable income of individuals, the high capacity to spend on luxury goods and the large availability of luxury goods in countries in the region, such as Germany, France, the US, and Canada. The Asia-Pacific market is projected to expand significantly in the global market, followed by the Latin American and Middle East & African markets, owing to rising luxury goods spending by individuals, the increasing e-commerce industry, and the growing customer base in countries within these regions.

Competitive Landscape:

Luxury Goods market, which is highly competitive, consists of several major players such as The Estee Lauder Companies Inc., LOral International, LVMH Group hold a substantial market share in the Luxury Goods market. Other players analyzed in this report are Kering SA, The Shiseido Company, Ltd., Prada S.p.A., Ralph Lauren Corporation, Swatch Group, Luxottica Group S.p.A, and Compagnie Financire Richemont SA. LVMH Mot Hennessy-Louis Vuitton SA among others.

Luxury Goods Market is further segmented by region into:

North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada

Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America

Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe

APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC

MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Luxury Goods Market report also contains analysis on:

Luxury Goods Market Segments:

By Product Type:

Designer apparels & Footwear

Jewelry

Accessories

Cosmetics

Fine Wines/Champagne and Spirits

Travel Goods

Others

By Gender:

Male

Female

By Mode of Sale:

Retail

Online

Luxury Goods Market Dynamics

Luxury Goods Market Size

Supply & Demand

Current Trends/Issues/Challenges

Competition & Companies Involved in the Market

Value Chain of the Market

Market Drivers and Restraints

FAQs on Luxury Goods Market

Which segment is anticipated to hold the largest market share

At what CAGR is the market anticipated to grow between 2020 and 2030

Who are the key players in the Luxury Goods Market

What could be the challenging factors in the growth of Luxury Goods Market

What are the growth drivers for the Luxury Goods Market

Contents

1. Executive Summary

2. Luxury Goods Market

1. Product Overview

2. Market Definition

3. Segmentation

4. Assumptions and Acronyms

3. Research Methodology

1. Research Objectives

2. Primary Research

3. Secondary Research

4. Forecast Model

5. Market Size Estimation

4. Average Pricing Analysis

5. Macro-Economic Indicators

6. Market Dynamics

1. Growth Drivers

2. Restraints

3. Opportunity

4. Trends

7. Correlation & Regression Analysis

1. Correlation Matrix

2. Regression Matrix

8. Recent Development, Policies & Regulatory Landscape

9. Risk Analysis

1. Demand Risk Analysis

2. Supply Risk Analysis

10. Luxury Goods Systems Analysis

1. Porters Five Forces

1. Threat of New Entrants

2. Bargaining Power of Suppliers

3. Threat of Substitutes

4. Rivalry

2. PEST Analysis

1. Political

2. Economic

3. Social

4. Technological

11. Luxury Goods Market

1. Market Size & forecast, 2020A-2030F

1. By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

2. By Volume 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12. Luxury Goods: Market Segmentation

1. By Regions

1. North America:(U.S. and Canada), By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

2. Latin America: (Brazil, Mexico, Argentina, Rest of Latin America), By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

3. Europe: (Germany, UK, France, Italy, Spain, BENELUX, NORDIC, Hungary, Poland, Turkey, Russia, Rest of Europe), By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

4. Asia-Pacific: (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific), By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

5. Middle East and Africa: (Israel, GCC, North Africa, South Africa, Rest of Middle East and Africa), By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

2. By Product Type: Market Share (2020-2030F)

1. Designer apparels & Footwear, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

2. Jewelry, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

3. Accessories, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

4. Cosmetics, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

5. Fine Wines/Champagne and Spirits, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

6. Travel Goods, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

7. Others, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

3. By Gender: Market Share (2020-2030F)

1. Male, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

2. Female, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

4. By Mode of Sale: Market Share (2020-2030F)

1. Retail, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

2. Online, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

Company Profile

1. The Estee Lauder Companies Inc.

1. Company Overview

2. Company Total Revenue (Financials)

3. Market Potential

4. Global Presence

5. Key Performance Indicators

6. SWOT Analysis

7. Product Launch

2. LOral International

3. LVMH Group

4. Kering SA

5. The Shiseido Company, Ltd.

6. Prada S.p.A.

7. Ralph Lauren Corporation

8. Swatch Group

9. Luxottica Group S.p.A

10. Compagnie Financire Richemont SA

Consultant Recommendation

**The above-given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.

Methodology/Research Approach

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Research Programs/Design

Historical Data (2015-2019)	Industry Trends Competitive Landscape By Company Expansion Mergers and Acquisitions Market Segment by Type by Application By Regions/ Geography	Value Status and Outlook Value for Major Players Market Share Growth Rate Present Situation Analysis Value Market Share Growth Rate Present Situation Analysis
Influencing Factors	Market Environment Government Policy Technological Changes Market Risks	Market Drivers Growing Demand of Downstream Reduction in Cost
Market Forecast (2021-2026)	Overall Size by Type by Application By Regions/Geography	Key Data (Value) Market Share Growth Rate CAGR (2021-2026)

Market Size Estimation

Top-down and bottom-up approaches are used to validate the global Voluntary Carbon Offset market size market and estimate the market size for Company, regions segments, product segments and Application (end users).

The market estimations in this report are based on the marketed sale price of Voluntary Carbon Offset (excluding any discounts provided by the player, distributor, wholesaler or traders). The percentage splits, market share, and breakdowns of the product segments are derived on the basis of weights assigned to each of the segments on the basis of their utilization rate and average sale price. The regional splits of the overall Voluntary Carbon Offset market and its sub-segments are based on the percentage adoption or utilization of the given product in the respective region or country.

Major Company in the market is identified through secondary research and their market revenues determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top Company; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs and marketing executives. The percentage splits, market share, Growth Rate and breakdowns of the product markets are determined through using secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or other factors are not accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Market Intellix and presented in this report

The following figure shows an illustrative representation of the overall market size estimation process used for this study.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation, extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report. Extensive qualitative and further quantitative analysis is also done from all the numbers arrived at in the complete market engineering process to list key information throughout the report.

Data Source

Secondary Sources

Secondary sources include such as press releases, annual reports, non-profit organizations, industry associations, governmental agencies and customs data, etc. This research study involves the usage of widespread secondary sources, directories, databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), and TRADING ECONOMICS, and News Network, statista, Federal Reserve Economic Data, annual reports, BIS Statistics, ICIS; company house documents; CAS(American Chemical Society); investor presentations; and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and Hospitals study of the Voluntary Carbon Offset market. It was also used to obtain important information about the top companies, market classification and segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives.

Market Size	Segmental value Geographic Penetration Product Adoption Rate for Different market	Journals, Websites, and Press Releases Annual Reports and SEC Filings Company Websites and Press Releases Public and Paid Databases Market Intellix Data Repository
Market Position of Top Company	Product Financials Geographic value Mix Total Company value Business/Segmental value Mix
Qualitative Analysis	Influence Factors Market Potential Market Risks and Opportunities Industry Trends Geographical Features Government Policies	Company Websites and Press Releases Public and Paid Databases Annual Reports Industry Associations Market Intellix Data Repository

Primary Sources

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product Company (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end use (product buyers), and related key executives from various key companies and organizations operating in the global market.

Primary research was conducted to identify segmentation Type, product price range, product Application, key Company, raw materials supply and the downstream demand, industry status and outlook, and key market dynamics such as risks, influence factors, opportunities, market barriers, industry trends, and key player strategies.

Key Executives Interviewed

Key Data Information from Primary Sources

Primary Sources	Parameters	Key Data
Market Segments(by Application, by Type)	Value by Type Status and Forecast Value by Application Value by Regions, Status and Forecast (2021-2026)	Value Market Share by Type Value Growth Rate by Type Value by Application Percentage and Growth Rate by Application Value Growth Rate and Market Share by Regions Market Size Status and Forecast (2021-2026)
Total Market	Overall Size, Status and Forecast	Market Size Status and Forecast (2021-2026)