Global Luxury Goods Market Size, Share, Analysis, Forecast, Industry Strategy, Opportunity, Trends, Insights, Growth, Price, Research Survey, Segment, Outlook and Challenges Report To 2022 Luxury Goods Market Report, forecasts that the global market is expected to garner $429,762 million by 2022, registering a CAGR of 3.9% during the period 2016 - 2022. Luxury goods market trends such as rise in disposable income, upgradation in consumer lifestyle and inclination towards exquisite jewelry, watches, designer apparels, leather goods, and other merchandise has boosted the demand for luxury goods. Designer apparels segment dominated the global market in 2015 and is expected to maintain this trend in the future. The luxury goods industry comprises products of superior quality and high value. Developing countries such as India, Japan, China, and South Korea are anticipated to exhibit an increase in demand for luxury goods, owing to increased disposable income and rise in the living standards. Manufacturers focus on developing elegantly designed and affordable products for upper-middle and upper class customers. To Get Complete Details: https://marketreportscenter.com/reports/492786/global-luxurygoods-market-opportunities-and-forecasts-2014-2022 Based on product type, the global luxury goods market is segmented into designer apparel & footwear, jewelry, accessories, cosmetics & beauty products, fine wines/champagne & spirits, travel goods, and others. The others segment includes luxury products such as writing instruments and electronic gadgets. In terms of revenue, designer apparels & footwear segment was the most popular in 2015 and generated a revenue of $128,167 million and is expected to lead the luxury goods industry during the forecast period. The growth of tourism industry and travel retail is expected to boost the sales of products in the luxury travel goods segment. In developing regions such as Asia-Pacific and LAMEA, higher demand for luxury goods and accessories is anticipated owing to the higher tourism rate and evolving fashion trends. The luxury cosmetics market witnessed an escalation in demand for skin care products due to varying climatic conditions. In the year 2015, luxury cosmetics generated a revenue of $37,093 million and are estimated to reach $45,998 million by 2022. The mode of sale is either retail or online. Retail sector is the major channel in terms of revenue generation that includes physical stores, flagship stores, brand outlets, retail shops, and others. It
accounted for around 90% share of the global market revenue in 2015 as it is the most approachable and preferred mode among consumers. However, the online sales segment is anticipated to grow at the highest CAGR during the forecast period due to improvements in various digital platforms and increasing e-commerce websites in various regions. Traditionally, beauty products, cosmetics, accessories, and designer apparel were majorly used by women. However, these products are gradually gaining popularity among men as well. Luxury travel goods, designer apparel, and other products are largely used by men owing to the change in spending habits and improved shopping experiences. Females account for more than 65% share in global luxury goods market while the share of male customers is comparatively lower. However, male consumers segment is anticipated to grow at the highest CAGR of 4.6% during the forecast period. In the year 2015, Europe and Asia-Pacific collectively accounted for nearly two-third of the worldwide luxury goods market size and are expected to maintain their dominant position throughout the forecast period. However, Asia-Pacific is projected to be the fastest growing region, followed by LAMEA. For Sample Copy, click here: https://marketreportscenter.com/request-sample/492786 Key findings of Luxury Goods Market study The others segment in product type is expected to witness highest CAGR of 6.0%. Designer apparels and luxury jewelry segment together accounted for more than half of the luxury goods market share in 2015. Females accounted for the highest market share in 2015, however, male segment is expected to register highest growth. Asia-Pacific is estimated to witness significant growth during the forecast period with China and Japan being the major stakeholders. In the year 2015, U.S. led the global demand in the luxury goods market. The report provides comprehensive analysis of the key players that operate in the global Luxury Goods Market such as The Estee Lauder Companies Inc., LOral International, LVMH Group, 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. These players occupy a major share in the luxury goods market followed by other tier 2 and tier 3 players worldwide. Luxury goods include designer apparels, ornaments, and other expensive merchandises that are typically accessible to the wealthy and often indicate status. The global luxury goods market is expected to reach $428,509 million by 2022, registering a CAGR of 3.8% during the forecast period.
The rise in disposable income has elevated the consumer lifestyle and shifted their preference towards deluxe cosmetics products. Moreover, the escalation in demand for luxury accessories and jewelry due to unique craftsmanship, refinement, quality, and brand name, further fuel the market. In addition, upgradation in product packaging styles and attractive marketing strategies by key players drive this market. However, currency depreciation, increased prices of raw materials, and economic turbulence in some developed countries could hamper the market growth. This market is segmented on the basis of product type, mode of sale, gender, and geography. The product type segment includes designer apparels & footwear, accessories, cosmetics, jewelry, travel goods, fine wines/champagne & spirits, and others. In the year 2015, designer apparels and jewelry were the most popular segments and held a cumulative share of more than 59% in global luxury goods market. Check Discount on this report @ https://marketreportscenter.com/request-discount/492786 The mode of sale could either be retail or online sale, wherein retail mode includes brand outlets, franchise stores, flagship stores, and retail outlets. Most customers prefer the retail mode of sale while buying luxury goods. However, online mode of sale is steadily gaining momentum and is expected to grow at the highest CAGR of 6.2% during the forecast period. Increase in the number of working women and their economic independence are the key reasons for the market growth for female consumers. In the year 2015, female consumers accounted for almost 65% of global luxury goods market. However, increase in inclination of men towards designer apparels, leather bags, and footwear could result in high demand of luxury goods from male consumers. This segment is anticipated to grow at a CAGR of 4.4% during the forecast period. Luxury goods market is extremely dependent on economic stability of any particular region as these goods are mainly purchased by the upper economic classes. Furthermore, with the advancements in technology and increase in consumer demands, leading market players have developed various products in different categories of luxury goods and adopted different strategies to combat competition. Acquisition is one of the most prominent strategy in the market. For instance, in 2016, LVMH Group, a French luxury giant, purchased a minority stake in Repossi to expand its business in luxury jewelry segment. Similarly, in June 2016, L’ Oreal International acquired Atelier Cologne, a French perfume manufacturer, to enhance its luxury perfume product portfolio.
The market is analyzed across four regions-North America, Europe, Asia-Pacific, and LAMEA. Europe is expected to dominate the global market during the analysis period due to the presence of large number of established manufacturers of luxury goods in Italy, France, and UK. The market in Asia-Pacific is expected to grow at a significant rate due to increase in number of high net worth individuals and growing tourism industry. In the year 2013, Chinese government launched anti-extravagance campaign that resulted in a slight decrease in the sales of luxury goods. However, in 2014, the market slowly gained pace in this sector. The report includes comprehensive analysis of the key players in this market such as Estee Lauder Companies Inc., L’ Oréal International, LVMH Group, Kering SA, The Shiseido Company, Ltd., Prada S.p.A., Ralph Lauren Corporation, Swatch Group, Luxottica Group S.p.A, and Compagnie Financière Richemont SA. Browse All Reports of This Category at: https://marketreportscenter.com/reports/category/retail KEY BENEFITS This report provides an in-depth analysis of the global luxury goods market to identify the potential investment pockets. It outlines the current trends and future scenarios to determine the overall market potential and gain stronger market foothold. Key drivers, restraints, and opportunities along with their detailed impact analysis have been elucidated. Quantitative analysis of the market for the period of 2014-2022 are highlighted to recognize the financial competency of the market. Porter’ s Five Forces model illustrates the threat of new entrants, threat of substitutes, strength of the buyers, and strength of suppliers. Value chain analysis provides a clear understanding on the roles of stakeholders involved. Market Segmentation Luxury Goods Market by Product Type Designer Apparels & Footwear Jewelry Accessories Cosmetics
Fine Wines/Champagne and Spirits Travel Goods Others Luxury Goods Market by Gender Male Female Luxury Goods Market by Mode of Sale Retail Online Luxury Goods Market by Region North America U.S. Canada Mexico Europe UK. About Us: Market Reports Center is an e-commerce platform obliging the needs of knowledge workers, experts, professionals who are subject to market research information for their work, or to make strategic business decisions. Market Reports Center’s team consistently works to update and extend our existing repository of market research reports by partnering with new publishers and adding their studies to our website. Media Contact: Sam Collins Market Reports Center Phone No: 1-646-883-3044 Email: info@marketreportscenter.com Website: Market Reports Center Visit Our Blog: https://marketgrowthresearch.wordpress.com/