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The Worldwide Luxury Fashion Industry is Expected to Reach $153+ Billion by 2026

·5-min read

Dublin, Nov. 11, 2021 (GLOBE NEWSWIRE) -- The "Luxury Fashion Market - Global Outlook & Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.

The luxury fashion market size was valued at USD 110.64 billion in 2020 and is expected to reach USD 153.97 billion by 2026 growing at a CAGR of 5.66%.

The online sales of luxury fashion are expected to witness tremendous growth during the forecast period. The global luxury fashion industry is gaining momentum significantly with the rise in the number of high-net-worth individuals, the growing popularity among the young population belonging to the millennials and Gen Z generation, increasing brand loyalty among customers, and increasing association of luxury brands by the individuals. The rapidly changing technological landscape and the growing adoption of technology such as augmented reality (AR) by the fashion industry, supported by the growing penetration of digital channels across developing markets, provide new growth opportunities to vendors.

The following factors are likely to contribute to the growth of the luxury fashion market

  • Leveraging augmented reality

  • Growing inclination towards sustainable products

  • Internet shaping purchasing behaviour

  • Increasing acceptance by millennials & Gen Z population

  • Growing high net worth individuals

  • Growth in travel & tourism

Key Highlights

  • Millennials and the Gen Z population are the key drivers of the luxury fashion industry.This can be attributed to their higher focus on experiences, willingness to pay extra for premium products, and openness to experimentation with new things.

  • Psycho-graphical and demographical indicators of end-users have changed drastically over the past few years. Factors such as increased internet penetration, strong smartphone adoption, and rising social media users have provided end-users with unmatched access to information on the go, thus helping end-users make informed purchasing decisions.

Key Topics Covered:

1 Research Methodology

2 Research Objectives

3 Research Process

4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope Of The Study

5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation

6 Market at a Glance

7 Introduction
7.1 Overview
7.2 Influencer Role In Luxury Fashion
7.3 Value Chain Analysis
7.4 Impact Of Covid-19

8 Market Opportunities & Trends
8.1 Leveraging Augmented Reality
8.2 Growing Inclination Toward Sustainability
8.3 Internet Shaping Purchasing Behavior

9 Market Growth Enablers
9.1 Increasing Acceptance By Millennials & Generation Z
9.2 Growing Population Of High-Net-Worth Individuals
9.3 Rise In Travel & Tourism

10 Market Restraints
10.1 Proliferation Of Counterfeit Products
10.2 Availability Of Secondhand Luxury Products

11 Market Landscape
11.1 Market Overview
11.2 Digitalization Supporting Luxury Market
11.3 Demand Insights
11.4 Market Size & Forecast
11.5 Five Forces Analysis

12 Product Type
12.1 Market Snapshot & Growth Engine
12.2 Market Overview
12.3 Apparel
12.4 Footwear
12.5 Accessories

13 End User
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.3 Men
13.4 Women
13.5 Children

14 Generational Cohort
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.3 Generation X
14.4 Millennial & Generation Z
14.5 Baby Boomer & Silent Generation

15 Distribution Channel
15.1 Market Snapshot & Growth Engine
15.2 Market Overview
15.3 Online Stores
15.4 Mono-Brand Stores
15.5 Specialty Stores
15.6 Departmental Stores
15.7 Off-Price Stores
15.8 Airport Shops

16 Geography
16.1 Market Snapshot & Growth Engine
16.2 Geographic Overview

17 APAC
17.1 Market Overview
17.2 Market Size & Forecast
17.3 Product Type
17.4 End User
17.5 Generational Cohort
17.6 Distribution Channel
17.7 Key Countries

18 Europe
18.1 Market Overview
18.2 Market Size & Forecast
18.3 Product Type
18.4 End User
18.5 Generational Cohort
18.6 Distribution Channel
18.7 Key Countries

19 North America
19.1 Market Overview
19.2 Market Size & Forecast
19.3 Product Type
19.4 End User
19.5 Generational Cohort
19.6 Distribution Channel
19.7 Key Countries

20 Middle East & Africa
20.1 Market Overview
20.2 Market Size & Forecast
20.3 Product Type
20.4 End User
20.5 Generational Cohort
20.6 Distribution Channel
20.7 Key Countries

21 Latin America
21.1 Market Overview
21.2 Market Size & Forecast
21.3 Product Type
21.4 End User
21.5 Generational Cohort
21.6 Distribution Channel
21.7 Key Countries

22 Competitive Landscape
22.1 Competition Overview

23 Key Company Profiles
23.1 ARMANI Group
23.2 BURBERRY
23.3 CHANEL
23.4 HERMES
23.5 KERING
23.6 LVMH
23.7 PRADA GROUP

24 Other Prominent Vendors
24.1 CAPRI HOLDINGS
24.2 DOLCE & GABBANA
24.3 HUGO BOSS
24.4 MAX MARA GROUP
24.5 MCM
24.6 MONCLER
24.7 OSKLEN
24.8 SALVATORE FERRAGAMO
24.9 TAPESTRY
24.10 TOM FORD
24.11 VALENTINO
24.12 ZEGNA

25 Recent Developments
25.1 Merger, Acquisition & Partnerships
25.2 New Product Launches

26 Report Summary
26.1 Key Takeaways
26.2 Strategic Recommendations

27 Quantitative Summary
27.1 Market By Geography
27.2 APAC
27.3 EUROPE
27.4 NORTH AMERICA
27.5 MIDDLE EAST & AFRICA
27.6 LATIN AMERICA
27.7 PRODUCT TYPE
27.8 END USER
27.9 GENERATIONAL COHORT
27.10 DISTRIBUTION CHANNEL

28 Appendix

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

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


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