Global Luxury Goods Market to Reach $429.81 Billion by 2026 at a CAGR of 8.52%

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Sep 13, 2022, 11:45 ET

DUBLIN, Sept. 13, 2022 /PRNewswire/ -- The "Global Luxury Goods Market, By Type (Jewelry & Watches, Clothing & Footwear, Bags & Accessories, Cosmetics & Fragrances), By Distribution Channel, By Region, Competition, Forecast & Opportunities, 2026" report has been added to ResearchAndMarkets.com's offering.

The Global Luxury Goods Market stood at USD258.12 billion in 2020 is forecast to grow at a CAGR of 8.52% in value terms to reach around USD429.81 billion by 2026. The increasing young working-class population, growing consumer awareness about the benefits of using quality products, and the surge in purchasing power of consumers are the primary factors driving the demand for the Global Luxury Goods Market in the forecast period.

Globalization has increased the accessibility and reach of consumers to purchase from international and national brands, which has positively impacted the demand for luxury goods worldwide. The rising prevalence of skin-related disorders, growing pollution levels, and the surge in consumer awareness about the benefits of taking preventive measures bolster the adoption of high-priced skincare products among consumers.

High internet penetration and the proliferation of smart devices have spurred the e-commerce industry's reach to each and every corner around the globe. The market players are making quick doorstep deliveries and providing huge discounts on their products, thereby creating huge potential for growth in the Global Luxury Goods Market.

However, continuous change in consumer preference is lowering the brand loyalty rate, which may hinder the growth of the Global Luxury Goods Market in the forecast period.

Years considered for this report:

Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021E
Forecast Period: 2022F-2026F

Objective of the Study:

To analyze the historical growth in the market size of the Global Luxury Goods Market from 2016 to 2020.
To estimate and forecast the market size of the Global Luxury Goods Market from 2021 to 2026 and growth rate until 2026.
To classify and forecast the Global Luxury Goods Market based on by type, by distribution channel, by region and by company.
To identify dominant region or segment in the Global Luxury Goods Market.
To identify drivers and challenges for the Global Luxury Goods Market.
To examine competitive developments such as expansions, new product launches, mergers and acquisitions, etc., in the Global Luxury Goods Market.
To identify and analyze the profile of leading players operating in the Global Luxury Goods Market.
To identify key sustainable strategies adopted by the market players in the Global Luxury Goods Market.

Key Target Audience:

Manufacturers, distributors, and end-users
Market research and consulting firms
Government bodies such as regulating authorities and policymakers
Organizations, forums, and alliances related to luxury goods market

Report Scope:
In this report, the Global Luxury Goods Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Global Luxury Goods Market, By Type

Jewelry & Watches
Clothing & Footwear
Bags & Accessories
Cosmetics & Fragrances

Global Luxury Goods Market Size, By Distribution Channel:

Exclusive Stores
Airports
E-Commerce
Specialty Store
Others

Global Luxury Goods Market, By Region

Europe
France
Italy
Germany
Spain
Switzerland
North America
United States
Canada
Mexico
Asia Pacific
China
Japan
South Korea
India
Singapore
Middle East and Africa
UAE
Saudi Arabia
South Africa
Turkey
South America
Brazil
Argentina
Colombia

Key Topics Covered:

1. Product Overview

2. Research Methodology

3. Executive Summary

4. Impact of COVID-19 on Global Luxury Goods Market

5. Voice of Customer

6. Global Luxury Goods Market Outlook

7. Europe Luxury Goods Market Outlook

8. North America Luxury Goods Market Outlook

9. Asia-Pacific Luxury Goods Market Outlook

10. Middle East and Africa Luxury Goods Market Outlook

11. South America Luxury Goods Market Outlook

12. Market Dynamics

13. Market Trends and Developments

14. Competitive Landscape

15. Strategic Recommendations

Companies Mentioned