Global Luxury Goods Market By Type (Jewelry & Watches, Clothing & Footwear, Bags & Accessories, Cosmetics & Fragrances), By Distribution Channel (By Distribution Channel (Exclusive Stores, Airports, E-Commerce, Specialty Store & Others (Departmental Stores, Hypermarket/Supermarket, Multi-Branded Stores etc.)), By Region, Competition, Forecast & Opportunities, 2026

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Summary

Report Description

The global luxury goods market is forecast to grow over a CAGR of more than 8% in value terms to reach around USD430 billion by 2026. The global luxury goods market is witnessing consistent growth, owing to the changing consumer taste & preferences, improving standards of living, and increasing innovation in existing luxury product offerings.

The popularity of luxury goods items has increased with the expansion of technological advancements and rapid urbanization and continuous change in consumer tastes and preferences. Consumers have become more health-conscious in recent years, and as a result, increased awareness of skin-related issues among consumers is shifting their preferences towards higher-priced skincare products. The demand for luxury cosmetics is increasing at a faster rate, especially since the COVID-19 lockdown, when people were unable to leave their homes and instead focus on meeting their healthcare needs online.

The global luxury goods market can be segregated into type, distribution channel, region, and company. Based on type, the global luxury goods market is further split into Jewelry & Watches, Clothing & Footwear, Bags & Accessories and Cosmetics & Fragrances. Among which, the jewelry & watches segment have accounted for the majority of the share around 30% in the global luxury goods market in 2020. This is due to increasing penetration of the organized sector, coupled with evolving consumer lifestyle and growing disposable income. Furthermore, with the growing magnitude of festival celebrations across the world, the jewelry demand is visibly going up.

Based on distribution channels, the global luxury goods market is divided into By Distribution Channel (Exclusive Stores, Airports, E-Commerce, Specialty Store & Others (Departmental Stores, Hypermarket/Supermarket, Multi-Branded Stores etc.). Among which, Exclusive Stores hold the majority of the market share in the global luxury goods market and will continue to dominate the market throughout the forecast period. Among the other distribution channels in the global luxury goods market, the e-commerce sales channel is expected to grow the fastest. During the forecast period, the segment is expected to grow at a CAGR of 10.85 percent. The rapid growth of online retail, particularly in the post-COVID-19 era, has caused companies to reconsider their distribution strategy. Because of the low operating costs, the online retail market is an appealing option for apparel companies.

In terms of region, the global luxury goods market is segmented into Europe, North America, Asia-Pacific, Middle East & Africa & South America. Among which, the Europe region has accounted for the majority of market share in the global luxury goods market followed by North America in 2020 and will continue to dominate the market throughout the forecast period as well. This is due to the presence of large number of millennium consumer, strong economic condition and presence of various brands across the region.

Some of the leading players in the global luxury goods market are LVMH Group, Compagnie Financière Richemont SA, Kering SA, L’Oréal S.A., Chanel Limited, PVH Corp., The Estée Lauder Companies Inc., The Swatch Group Ltd., Rolex SA, Prada S.p.A, etc. The companies are developing advanced technologies and launching new products to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new service developments.

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 global luxury goods market from 2016 to 2020.
  • To estimate and forecast the market size of global luxury goods market from 2021 to 2026 and growth rate until 2026.
  • To classify and forecast 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 global luxury goods market.
  • To examine competitive developments such as expansions, new product launches, mergers and acquisitions, etc., in global luxury goods market.
  • To identify and analyze the profile of leading players operating in global luxury goods market.
  • To identify key sustainable strategies adopted by market players in global luxury goods market.

      

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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, and presence of all major players across the globe.

TechSci Research calculated the market size of the global luxury goods market using a bottom-up approach, wherein data for various segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated them through analyzing historical data of these types and other segments for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations, and financial reports were also studied by TechSci Research.

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

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities. 

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:

o   Jewelry & Watches

o   Clothing & Footwear

o   Bags & Accessories

o   Cosmetics & Fragrances

·         Global Luxury Goods Market Size, By Distribution Channel:             

o   Exclusive Stores

o   Airports

o   E-Commerce

o   Specialty Store

o   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

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the global luxury goods market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Table of content

1.    Product Overview

2.    Research Methodology

3.    Executive Summary

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

5.    Voice of Customer

5.1.  Factors Affecting Purchasing Decision

5.2.  Brand Awareness

5.3.  Challenges Faced Post Purchasing

6.    Global Luxury Goods Market Outlook

6.1.  Market Size and Forecast

6.1.1.     By Value

6.2.  Market Share and Forecast

6.2.1.     By Type (Jewelry & Watches, Clothing & Footwear, Bags & Accessories, Cosmetics & Fragrances)

6.2.2.     By Distribution Channel (Exclusive Stores, Airports, E-Commerce, Specialty Store & Others (Departmental Stores, Hypermarket/Supermarket, Multi-Branded Stores etc.)

6.2.3.     By Region

6.2.4.     By Company (2020)

6.3.  Market Map (By Type, By Region)

7.    Europe Luxury Goods Market Outlook

7.1.  Market Size and Forecast       

7.1.1.     By Value

7.2.  Market Share and Forecast

7.2.1.1.         By Type

7.2.1.2.         By Distribution Channel

7.2.1.3.         By Country

7.3.  Europe: Country Analysis

7.3.1.     France Luxury Goods Market Outlook

7.3.1.1.         Market Size and Forecast

7.3.1.1.1.             By Value

7.3.1.2.         Market Share and Forecast

7.3.1.2.1.             By Type

7.3.1.2.2.             By Distribution Channel

7.3.2.     Italy Luxury Goods Market Outlook

7.3.2.1.         Market Size and Forecast

7.3.2.1.1.             By Value

7.3.2.2.         Market Share and Forecast

7.3.2.2.1.             By Type

7.3.2.2.2.             By Distribution Channel

7.3.3.     Germany Luxury Goods Market Outlook

7.3.3.1.         Market Size and Forecast

7.3.3.1.1.             By Value

7.3.3.2.         Market Share and Forecast

7.3.3.2.1.             By Type

7.3.3.2.2.             By Distribution Channel

7.3.4.     Spain Luxury Goods Market Outlook

7.3.4.1.         Market Size and Forecast

7.3.4.1.1.             By Value

7.3.4.2.         Market Share and Forecast

7.3.4.2.1.             By Type

7.3.4.2.2.             By Distribution Channel

7.3.5.     Switzerland Luxury Goods Market Outlook

7.3.5.1.         Market Size and Forecast

7.3.5.1.1.             By Value

7.3.5.2.         Market Share and Forecast

7.3.5.2.1.             By Product

7.3.5.2.2.             By Distribution Channel

8.    North America Luxury Goods Market Outlook

8.1.  Market Size and Forecast       

8.1.1.     By Value

8.2.  Market Share and Forecast

8.2.1.     By Type

8.2.2.     By Distribution

8.2.3.     By Country

8.3.  North America: Country Analysis

8.3.1.     United States Luxury Goods Market Outlook

8.3.1.1.         Market Size and Forecast

8.3.1.1.1.             By Value

8.3.1.2.         Market Share and Forecast

8.3.1.2.1.             By Type

8.3.1.2.2.             By Distribution Channel

8.3.2.     Canada Luxury Goods Market Outlook

8.3.2.1.         Market Size and Forecast

8.3.2.1.1.             By Value

8.3.2.2.         Market Share and Forecast

8.3.2.2.1.             By Type

8.3.2.2.2.             By Distribution Channel

8.3.3.     Mexico Luxury Goods Market Outlook

8.3.3.1.         Market Size and Forecast

8.3.3.1.1.             By Value

8.3.3.2.         Market Share and Forecast

8.3.3.2.1.             By Type

8.3.3.2.2.             By Distribution Channel

8.3.3.2.3.              

9.    Asia-Pacific Luxury Goods Market Outlook

9.1.  Market Size and Forecast       

9.1.1.     By Value

9.2.  Market Share and Forecast

9.2.1.1.         By Type

9.2.1.2.         By Distribution Channel

9.2.1.3.         By Country

9.3.  Asia-Pacific: Country Analysis

9.3.1.     China Luxury Goods Market Outlook

9.3.1.1.         Market Size and Forecast

9.3.1.1.1.             By Value

9.3.1.2.         Market Share and Forecast

9.3.1.2.1.             By Type

9.3.1.2.2.             By Distribution Channel

9.3.2.     Japan Luxury Goods Market Outlook

9.3.2.1.         Market Size and Forecast

9.3.2.1.1.             By Value

9.3.2.2.         Market Share and Forecast

9.3.2.2.1.             By Type

9.3.2.2.2.             By Distribution Channel

9.3.3.     South Korea Luxury Goods Market Outlook

9.3.3.1.         Market Size and Forecast

9.3.3.1.1.             By Value

9.3.3.2.         Market Share and Forecast

9.3.3.2.1.             By Type

9.3.3.2.2.             By Distribution Channel

9.3.4.     India Luxury Goods Market Outlook

9.3.4.1.         Market Size and Forecast

9.3.4.1.1.             By Value

9.3.4.2.         Market Share and Forecast

9.3.4.2.1.             By Type

9.3.4.2.2.             By Distribution Channel

9.3.5.     Singapore Luxury Goods Market Outlook

9.3.5.1.         Market Size and Forecast

9.3.5.1.1.             By Value

9.3.5.2.         Market Share and Forecast

9.3.5.2.1.             By Product

9.3.5.2.2.             By Distribution Channel

10.  Middle East and Africa Luxury Goods Market Outlook

10.1.              Market Size and Forecast        

10.1.1.  By Value

10.2.              Market Share and Forecast

10.2.1.  By Type

10.2.2.  By Distribution Channel

10.2.3.  By Country

10.3.              MEA: Country Analysis

10.3.1.  UAE Luxury Goods Market Outlook

10.3.1.1.      Market Size and Forecast

10.3.1.1.1.           By Value

10.3.1.2.      Market Share and Forecast

10.3.1.2.1.           By Type

10.3.1.2.2.           By Distribution Channel

10.3.2.  Saudi Arabia Luxury Goods Market Outlook

10.3.2.1.      Market Size and Forecast

10.3.2.1.1.           By Value

10.3.2.2.      Market Share and Forecast

10.3.2.2.1.           By Type

10.3.2.2.2.           By Distribution Channel

10.3.3.  South Africa Luxury Goods Market Outlook

10.3.3.1.      Market Size and Forecast

10.3.3.1.1.           By Value

10.3.3.2.      Market Share and Forecast

10.3.3.2.1.           By Type

10.3.3.2.2.           By Distribution Channel

10.3.4.  Turkey Luxury Goods Market Outlook

10.3.4.1.      Market Size and Forecast

10.3.4.1.1.           By Value

10.3.4.2.      Market Share and Forecast

10.3.4.2.1.           By Type

10.3.4.2.2.           By Distribution Channel

11.  South America Luxury Goods Market Outlook

11.1.              Market Size and Forecast        

11.1.1.  By Value

11.2.              Market Share and Forecast

11.2.1.  By Type

11.2.2.  By Distribution Channel

11.2.3.  By Country

11.3.              South America: Country Analysis

11.3.1.  Brazil Luxury Goods Market Outlook

11.3.1.1.      Market Size and Forecast

11.3.1.1.1.           By Value

11.3.1.2.      Market Share and Forecast

11.3.1.2.1.           By Type

11.3.1.2.2.           By Distribution Channel

11.3.2.  Argentina Luxury Goods Market Outlook

11.3.2.1.      Market Size and Forecast

11.3.2.1.1.           By Value

11.3.2.2.      Market Share and Forecast

11.3.2.2.1.           By Type

11.3.2.2.2.           By Distribution Channel

11.3.3.  Colombia Luxury Goods Market Outlook

11.3.3.1.      Market Size and Forecast

11.3.3.1.1.           By Value

11.3.3.2.      Market Share and Forecast

11.3.3.2.1.           By Type

11.3.3.2.2.           By Distribution Channel

12.  Market Dynamics

12.1.              Drivers

12.2.              Challenges

13.  Market Trends and Developments

14.  Competitive Landscape

14.1.              LVMH Group

14.2.              Compagnie Financière Richemont SA

14.3.              Kering SA

14.4.              L’Oréal S.A.

14.5.              Chanel Limited

14.6.              PVH Corp.

14.7.              The Estée Lauder Companies Inc.

14.8.              The Swatch Group Ltd.

14.9.              Rolex SA

14.10.            Prada S.p.A

15.  Strategic Recommendations

16.  About Us and Disclaimer 

Figures and Tables

List of Figures

Figure 1: Global Luxury Goods Market Size, By Value (USD Billion), 2016-2026F

Figure 2: Global Population (Million), 2015-2020

Figure 3: Global Luxury Goods Market Share, By Type, By Value, 2016-2026F

Figure 4: Global Luxury Goods Market Share, By Distribution Channel, By Value, 2016-2026F

Figure 5: Global Luxury Goods Market Share, By Region, By Value, 2020 & 2026F

Figure 6: Global Luxury Goods Market Share, By Company, By Value, 2020

Figure 7: Global Luxury Goods Market Map, By Type, Market Size (USD Billion) & Growth Rate (%), 2020

Figure 8: Global Luxury Goods Market Map, By Region, Market Size (USD Billion) & Growth Rate (%), 2020

Figure 9: Europe Luxury Goods Market Size, By Value (USD Billion), 2016-2026F

Figure 10: Europe Country-wise Population (Million), 2020

Figure 11: Europe Luxury Goods Market Share, By Type, By Value, 2016-2026F

Figure 12: Europe Luxury Goods Market Share, By Distribution Channel, By Value, 2016-2026F

Figure 13: Europe Luxury Goods Market Share, By Country, By Value, 2016-2026F

Figure 14: France Luxury Goods Market Size, By Value (USD Billion), 2016-2026F

Figure 15: France GDP at Current Price (USD Billion), 2015-2020

Figure 16: France Luxury Goods Market Share, By Type, By Value, 2016-2026F

Figure 17: France Luxury Goods Market Share, By Distribution Channel, By Value, 2016-2026F

Figure 18: Italy Luxury Goods Market Size, By Value (USD Billion), 2016-2026F

Figure 19: Italy GDP at Current Price (USD Billion), 2015-2020

Figure 20: Italy Luxury Goods Market Share, By Type, By Value, 2016-2026F

Figure 21: Italy Luxury Goods Market Share, By Distribution Channel, By Value, 2016-2026F

Figure 22: Germany Luxury Goods Market Size, By Value (USD Billion), 2016-2026F

Figure 23: Germany GDP at Current Price (USD Billion), 2015-2020

Figure 24: Germany Luxury Goods Market Share, By Type, By Value, 2016-2026F

Figure 25: Germany Luxury Goods Market Share, By Distribution Channel, By Value, 2016-2026F

Figure 26: Spain Luxury Goods Market Size, By Value (USD Billion), 2016-2026F

Figure 27: Spain GDP at Current Price (USD Billion), 2015-2020

Figure 28: Spain Luxury Goods Market Share, By Type, By Value, 2016-2026F

Figure 29: Spain Luxury Goods Market Share, By Distribution Channel, By Value, 2016-2026F

Figure 30: Switzerland Luxury Goods Market Size, By Value (USD Billion), 2016-2026F

Figure 31: Switzerland GDP at Current Price (USD Billion), 2015-2020

Figure 32: Switzerland Luxury Goods Market Share, By Type, By Value, 2016-2026F

Figure 33: Switzerland Luxury Goods Market Share, By Distribution Channel, By Value, 2016-2026F

Figure 34: North America Luxury Goods Market Size, By Value (USD Billion), 2016-2026F

Figure 35: North America Country-wise Population (Million), 2020

Figure 36: North America Luxury Goods Market Share, By Type, By Value, 2016-2026F

Figure 37: North America Luxury Goods Market Share, By Distribution Channel, By Value, 2016-2026F

Figure 38: North America Luxury Goods Market Share, By Country, By Value, 2016-2026F

Figure 39: United States Luxury Goods Market Size, By Value (USD Billion), 2016-2026F

Figure 40: United States GDP at Current Price (USD Billion), 2015-2020

Figure 41: United States Luxury Goods Market Share, By Type, By Value, 2016-2026F

Figure 42: United States Luxury Goods Market Share, By Distribution Channel, By Value, 2016-2026F

Figure 43: Canada Luxury Goods Market Size, By Value (USD Billion), 2016-2026F

Figure 44: Canada GDP at Current Price (USD Billion), 2015-2020

Figure 45: Canada Luxury Goods Market Share, By Type, By Value, 2016-2026F

Figure 46: Canada Luxury Goods Market Share, By Distribution Channel, By Value, 2016-2026F

Figure 47: Mexico Luxury Goods Market Size, By Value (USD Billion), 2016-2026F

Figure 48: Mexico GDP at Current Price (USD Billion), 2015-2020

Figure 49: Mexico Luxury Goods Market Share, By Type, By Value, 2016-2026F

Figure 50: Mexico Luxury Goods Market Share, By Distribution Channel, By Value, 2016-2026F

Figure 51: Asia-Pacific Luxury Goods Market Size, By Value (USD Billion), 2016-2026F

Figure 52: Asia-Pacific Country-wise Population (Million), 2020

Figure 53: Asia-Pacific Luxury Goods Market Share, By Type, By Value, 2016-2026F

Figure 54: Asia-Pacific Luxury Goods Market Share, By Distribution Channel, By Value, 2016-2026F

Figure 55: Asia-Pacific Luxury Goods Market Share, By Country, By Value, 2016-2026F

Figure 56: China Luxury Goods Market Size, By Value (USD Billion), 2016-2026F

Figure 57: China GDP at Current Price (USD Billion), 2015-2020

Figure 58: China Luxury Goods Market Share, By Type, By Value, 2016-2026F

Figure 59: China Luxury Goods Market Share, By Distribution Channel, By Value, 2016-2026F

Figure 60: Japan Luxury Goods Market Size, By Value (USD Billion), 2016-2026F

Figure 61: Japan GDP at Current Price (USD Billion), 2015-2019

Figure 62: Japan Luxury Goods Market Share, By Type, By Value, 2016-2026F

Figure 63: Japan Luxury Goods Market Share, By Distribution Channel, By Value, 2016-2026F

Figure 64: South Korea Luxury Goods Market Size, By Value (USD Billion), 2016-2026F

Figure 65: South Korea GDP at Current Price (USD Billion), 2015-2020

Figure 66: South Korea Luxury Goods Market Share, By Type, By Value, 2016-2026F

Figure 67: South Korea Luxury Goods Market Share, By Distribution Channel, By Value, 2016-2026F

Figure 68: India Luxury Goods Market Size, By Value (USD Billion), 2016-2026F

Figure 69: India GDP at Current Price (USD Billion), 2015-2020

Figure 70: India Luxury Goods Market Share, By Type, By Value, 2016-2026F

Figure 71: India Luxury Goods Market Share, By Distribution Channel, By Value, 2016-2026F

Figure 72: Singapore Luxury Goods Market Size, By Value (USD Billion), 2016-2026F

Figure 73: Singapore GDP at Current Price (USD Billion), 2015-2020

Figure 74: Singapore Luxury Goods Market Share, By Type, By Value, 2016-2026F

Figure 75: Singapore Luxury Goods Market Share, By Distribution Channel, By Value, 2016-2026F

Figure 76: Middle East and Africa Luxury Goods Market Size, By Value (USD Billion), 2016-2026F

Figure 77: Middle East and Africa Country-wise Population (Million), 2020

Figure 78: Middle East and Africa Luxury Goods Market Share, By Type, By Value, 2016-2026F

Figure 79: Middle East and Africa Luxury Goods Market Share, By Distribution Channel, By Value, 2016-2026F

Figure 80: Middle East and Africa Luxury Goods Market Share, By Country, By Value, 2016-2026F

Figure 81: UAE Luxury Goods Market Size, By Value (USD Billion), 2016-2026F

Figure 82: UAE GDP at Current Price (USD Billion), 2015-2019

Figure 83: UAE Luxury Goods Market Share, By Type, By Value, 2016-2026F

Figure 84: UAE Luxury Goods Market Share, By Distribution Channel, By Value, 2016-2026F

Figure 85: Saudi Arabia Luxury Goods Market Size, By Value (USD Billion), 2016-2026F

Figure 86: Saudi Arabia GDP at Current Price (USD Billion), 2015-2020

Figure 87: Saudi Arabia Luxury Goods Market Share, By Type, By Value, 2016-2026F

Figure 88: Saudi Arabia Luxury Goods Market Share, By Distribution Channel, By Value, 2016-2026F

Figure 89: South Africa Luxury Goods Market Size, By Value (USD Billion), 2016-2026F

Figure 90: South Africa GDP at Current Price (USD Billion), 2015-2020

Figure 91: South Africa Luxury Goods Market Share, By Type, By Value, 2016-2026F

Figure 92: South Africa Luxury Goods Market Share, By Distribution Channel, By Value, 2016-2026F

Figure 93: Turkey Luxury Goods Market Size, By Value (USD Billion), 2016-2026F

Figure 94: Turkey GDP at Current Price (USD Billion), 2015-2020

Figure 95: Turkey Luxury Goods Market Share, By Type, By Value, 2016-2026F

Figure 96: Turkey Luxury Goods Market Share, By Distribution Channel, By Value, 2016-2026F

Figure 97: South America Luxury Goods Market Size, By Value (USD Billion), 2016-2026F

Figure 98: South America Country-wise Population (Million), 2020

Figure 99: South America Luxury Goods Market Share, By Type, By Value, 2016-2026F

Figure 100: South America Luxury Goods Market Share, By Distribution Channel, By Value, 2016-2026F

Figure 101: South America Luxury Goods Market Share, By Country, By Value, 2016-2026F

Figure 102: Brazil Luxury Goods Market Size, By Value (USD Billion), 2016-2026F

Figure 103: Brazil GDP at Current Price (USD Billion), 2015-2020

Figure 104: Brazil Luxury Goods Market Share, By Type, By Value, 2016-2026F

Figure 105: Brazil Luxury Goods Market Share, By Distribution Channel, By Value, 2016-2026F

Figure 106: Argentina Luxury Goods Market Size, By Value (USD Billion), 2016-2026F

Figure 107: Argentina GDP at Current Price (USD Billion), 2015-2020

Figure 108: Argentina Luxury Goods Market Share, By Type, By Value, 2016-2026F

Figure 109: Argentina Luxury Goods Market Share, By Distribution Channel, By Value, 2016-2026F

Figure 110: Colombia Luxury Goods Market Size, By Value (USD Billion), 2016-2026F

Figure 111: Colombia GDP at Current Price (USD Billion), 2015-2020

Figure 112: Colombia Luxury Goods Market Share, By Type, By Value, 2016-2026F

Figure 113: Colombia Luxury Goods Market Share, By Distribution Channel, By Value, 2016-2026F

Frequently asked questions

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The COVID-19 pandemic has impacted the global luxury goods market in terms of the supply chain due to halt in activities owing to lockdown, delays in import and export and rise in online sales post lockdown.

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The global luxury goods market is being catalyzed by the rising millennial population, increasing disposable income, demand for skincare cosmetics, changing preferences of younger generation, and innovative offerings to target customers, etc.

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The top 10 players in the global luxury goods market are LVMH Group, Compagnie Financière Richemont SA, Kering SA, L’Oréal S.A., Chanel Limited, PVH Corp., The Estée Lauder Companies Inc., The Swatch Group Ltd., Rolex SA and Prada S.p.A.

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Based on type, the global luxury goods market can be divided into jewelry & watches, clothing & footwear, bags & accessories and cosmetics & fragrances. Out of which, jewelry & watches segment is expected to dominate the market due to the growing demand for consumer lifestyle and rising disposable income.

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