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Global Luxury Goods Market Report 2022: Rapid Rise of eCommerce Industry Fueling Sector Growth

·4-min read
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Global Luxury Goods Market

Global Luxury Goods Market
Global Luxury Goods Market

Dublin, Sept. 07, 2022 (GLOBE NEWSWIRE) -- 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

  • LVMH Group

  • Compagnie Financiere Richemont SA

  • Kering SA

  • L'Oreal S.A.

  • Chanel Limited

  • PVH Corp.

  • The Estee Lauder Companies Inc.

  • The Swatch Group Ltd.

  • Rolex SA

  • Prada S.p.A

For more information about this report visit https://www.researchandmarkets.com/r/mozwkc

Attachment

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood,Senior Press Manager press@researchandmarkets.com 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