The new report by Expert Market Research titled, ‘Luxury Goods Market Value, Report and Forecast 2022-2027’, gives an in-depth analysis of the global luxury goods market, assessing the market based on its segments like product, distribution channel, end-users, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
Luxury Goods Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Size (2021): USD 269.4 billion
- Forecast CAGR (2022-2027): 4.73%
- Forecast Market Size (2027): USD 355.5 billion
Report Attribute | Details |
Historical Period | 2017-2021 |
Forecast Period | 2022-2027 |
Base Year | 2021 |
Market Size in 2021 | 269.4 billion |
Revenue Forecast in 2027 | 355.5 billion |
Growth Rate CAGR | 4.73% |
Major Players | LVMH Moet Hennessy-Louis Vuitton SA, Compagnie Financiere Richemont SA, Kering SA, Chow Tai Fook Jewelry Group Limited, and Luxottica Group SpA. |
Based on the mode of distribution channel, the offline channel accounts for a significant market share in the global luxury goods market, owing to the accessibility of offline shops to a large number of people and the availability of a broad range of options. However, in the coming years, the purchase of luxury goods through online channels is likely to witness the fastest growth due to the increasing penetration of the internet and the convenience offered by e-commerce platforms.
The growing disposable income of people and their increasing preference for spending more on luxury items are driving the growth of the luxury goods market.
Luxury Goods Industry Definition and Major Segments
Luxury goods are non-essential items that are bought for reasons like to support self-worth and enhance one’s status in society. As per the economics, the demand for luxury goods rises proportionally with the increase in income.
Various products are being considered luxury goods:
- Watches and Jewelry
- Perfumes and Cosmetics
- Clothing
- Bags/Purse
- Others
Based on the distribution channel, the luxury goods market is segmented as:
- Offline
- Online
By end-users, the market is bifurcated as:
- Women
- Men
- Others
Luxury Goods Market Trends
The key trend observed in the market is the increasing inclination towards customized luxury items like bags and watches. Also, the increasing purchase of luxury items to showcase or highlight one’s status in society is gaining traction. In addition to this, the consumers are also showing greater interest in items that are sustainable like vegan bags.
Market players are using strategies like digital engagement through fashion bloggers and celebrities to attract more people to their products.
Key Market Players
The major players in the luxury goods market are:
- LVMH Moet Hennessy-Louis Vuitton SA
- Compagnie Financiere Richemont SA
- Kering SA
- Chow Tai Fook Jewelry Group Limited
- Luxottica Group SpA
- Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
Wow, awesome weblog layout! How long have you been blogging for?
you made running a blog look easy. The full look of your site is fantastic, let alone the content material!
You can see similar here sklep online
Hey there! I could have sworn I’ve been to this website before but
after browsing through some of the post I realized it’s new to me.
Anyways, I’m definitely delighted I found it and I’ll be book-marking and checking back
often! I saw similar here: Sklep internetowy
Hi! Do you know if they make any plugins to help with SEO?
I’m trying to get my blog to rank for some targeted keywords but I’m not seeing very good gains.
If you know of any please share. Appreciate it! You can read similar article here: Sklep online
It’s very interesting! If you need help, look here: ARA Agency
However, to ensure a satisfying journey it is important to
bear in mind that generally there are spots that provide services which can be under the acceptable requirements.
But there seems to be nothing worse than doing nothing.
Command the drone to hover in a single small area and it will do so, combating a
breeze if mandatory. Here’s one of the all-time
classics: teriyaki marinade. These modifications may also
make this marinade inexpensive to arrange. When you’ve got any issues applying, the SCA has an admissions group that can information you through the process.
Flavors from the brine infuse the meat on this deep marinating course of.
Brines are nicely-identified for making meats extra tender and succulent, and this all-objective brine for smoked meats lives up to that popularity.
Brines tend to be quite salty, so you possibly can at all times
use less salt if you happen to favor. Salt and sugar commonly appear in brines, however this one, specially formulated for pork, makes use
of apple vinegar as its dominant ingredient, which supplies it an unexpected kick.
Formaro, Amanda. “Salt Dough Oranges.” Family Corner. Household Culture.
“About the Chinese language New 12 months.” Undated.
james jeans couture collection
Most of the travel corporations or tour operators in these international locations specialising
in the Islamic religious tours typically come up
with special presents on packages for this month. This
mastery makes Bobby just about invincible and permits him to
travel at unimaginable speeds by large our bodies
of water. In the early twentieth century, the creek, although
incapable then of supporting massive scale transportation, served as a minor
port for dhows coming as far away as India or East Africa.
Traditionally, the event served to crystallize the Shia group into a distinct sect and remains an integral part of their religious identification to date.
Nonetheless, they must determine their date of departure and
the number of days they are keen to spend in Makkah
much earlier than they begin their seek for packages. Nonetheless, in the event you get umrah
package deal in December 2020 then you may fulfill
your need to climb up as a result of throughout umrah there isn’t any crowd at that blessed place.
Performing Umrah in December is preferred largely by Muslims residing in countries
located within the northern components of the European continent.
An Umrah in December offers Muslims living in such nations the
prospect to flee the chilly weather and fulfil their dream of
performing the lesser pilgrimage within the presence of Makkah’s pleasant
weather.