Luxury Goods Global Strategic Business Report 2024-2030: Role Of Digital Technologies In Shaping The Multi-Billion Landscape

(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Aug. 08, 2024 (GLOBE NEWSWIRE) -- The "Luxury Goods - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Luxury Goods is estimated at US$253.7 Billion in 2023 and is projected to reach US$369.8 Billion by 2030, growing at a CAGR of 5.5% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

The growth in the luxury goods market is driven by several factors, including increasing wealth among high-net-worth individuals, technological advancements, and evolving consumer preferences. The expanding global middle class, particularly in emerging markets like China and India, has fueled demand for luxury items, as rising disposable incomes allow more consumers to indulge in premium products. Technological advancements have not only improved the quality and production of luxury goods but also revolutionized their marketing and distribution.

The adoption of digital channels has made luxury goods more accessible to a global audience, while innovations such as blockchain technology enhance authenticity verification and combat counterfeiting. Consumer preferences are also shifting, with a growing emphasis on experiences over possessions, driving demand for experiential luxury, such as exclusive travel, fine dining, and bespoke services. Sustainability and ethical considerations are increasingly influencing purchasing decisions, prompting luxury brands to adopt eco-friendly practices and transparent supply chains.

Additionally, the resilience of the luxury market during economic downturns underscores its appeal as a stable investment for both consumers and investors. These factors collectively highlight the dynamic and evolving nature of the luxury goods market, underscoring its ability to adapt to changing economic conditions and consumer demands while maintaining its hallmark of exclusivity and prestige.
Key Insights:

• Market Growth: Understand the significant growth trajectory of the Luxury Apparel segment, which is expected to reach US$115.4 Billion by 2030 with a CAGR of a 6.8%. The Luxury Cosmetics & Perfumes segment is also set to grow at 5.7% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, estimated at $55.4 Billion in 2023, and China, forecasted to grow at an impressive 7.5% CAGR to reach $42.4 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of major players such as Benetton Group Srl, 3B International LLC, Absolument Parfumeur, and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Key Attributes:

Report Attribute	Details
No. of Pages	494
Forecast Period	2023 - 2030
Estimated Market Value (USD) in 2023	$253.7 Billion
Forecasted Market Value (USD) by 2030	$369.8 Billion
Compound Annual Growth Rate	5.5%
Regions Covered	Global

MARKET OVERVIEW

• An Introduction to Luxury Goods
• Types of Luxury Goods
• Global Market Prospects & Outlook
• Competition
• Valuable Luxury Brands Worldwide: Ranked by Brand Value (in US$ Billion) for 2023
• Luxury Brands Differentiate Even in Digital Transition Efforts
• Key Competitors in the Luxury Watches Domain
• Swiss Watches Global Competitor Share Positioning for 2023
• World Brands
• Recent Market Activity
• Luxury Goods - Global Key Competitors Percentage Market Share in 2024 (E)
• Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)

MARKET TRENDS & DRIVERS

• Travel & Tourism Industry Trends Influence Prospects in Luxury Goods Market
• As Airlines Industry Struggles Amidst the COVID-19 Crisis, Impact Imminent on Airport Luxury Retail Sales
• Personal Incomes of People: A Critical Factor Influencing Market Prospects
• High Net Worth Individuals and Changing Lifestyles Boost Luxury Goods Market
• High Net Worth Individuals Influence Sales of Luxury Goods: Number of Ultra-High Net Worth Individuals (UHNWIs) by Region for 2023
• Younger Generation & Millennials Redefine and Drive Growth in Luxury Market
• Personal Luxury Goods Market by Generation (in %) for 2023
• Global Millennials Population Spread by Region: 2023
• Millennial Population as a Percentage (%) of Total Population in Select Countries: 2023
• Notable Trends Impacting Global Luxury Goods Industry
• Affordable Luxury to Influence Market Outlook
• Rising Sales of Second Hand Luxury Goods
• Role of Digital Technologies in Shaping the Luxury Goods Market
• Augmented Reality Transforms Luxury Retail Experience
• Artificial Intelligence: Playing a Critical Part in Personalizing Shopping Recommendations
• Luxury Watches: A Strong Growth Driver for the Watch Market
• Swiss Watches: The Primary Luxury Watch Category
• Online Channels: A Possible Way Out for Luxury Watchmakers
• Luxury Footwear Designers Gain Traction
• Affordable Luxury: Not just an Oxymoron in Footwear Space
• Luxury, Premium Fragrances: Key Segment in Overall Fragrances & Perfumes Market
• Pandemic Hurts Prospects of Luxury Apparel Brands
• Resale of Luxury Apparel Gains Momentum
• E-Commerce Retail Spurs Sales of Luxury Goods
• Counterfeits: A Major Concern for the Luxury Goods Market

FOCUS ON SELECT PLAYERS (Total 175 Featured)

• Benetton Group Srl
• 3B International LLC
• Absolument Parfumeur
• Amouage Ltd.
• Arabian Oud
• Aspects Beauty Co., Ltd.
• Beauty San SpA
• Bond No. 9
• Abercrombie & Kent USA, LLC
• A.L.B Watches
• Alexander Shorokhoff Uhrenmanufaktur GmbH
• Auguste Reymond SA
• Baume & Mercier
• A. Favre & fils
• Asprey London Limited

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Attachment

• Global Luxury Goods Market

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