Home Press Releases Consumer Luxury Goods Market to grow at a CAGR of 5.1 percent during the forecast period

Consumer Luxury Goods Market to grow at a CAGR of 5.1 percent during the forecast period

by Press Room


(EMAILWIRE.COM, September 09, 2023 ) The “Consumer Luxury Goods Market” was valued USD 270.1 Bn in 2022 and is expected to grow at a CAGR of 5.1 percent over the forecast period to reach USD 382.74 Bn by 2029.

Consumer Luxury Goods Market Scope and Research Methodology

SWOT and PESTLE analysis were used for the research on the Consumer Luxury Goods Market that combines quantitative and qualitative methods of research. The search methods help understand the factors influencing the Consumer Luxury Goods Market growth.

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Consumer Luxury Goods Market Dynamics

An increase in economic growth with higher income levels of individuals and households having more disposable income is expected to boost the Consumer Luxury Goods Market growth. The adoption of second-hand branded items is expected to restrain the market growth.

Consumer Luxury Goods Market Regional Insight

Asia Pacific region is expected to boost the Consumer Luxury Goods market growth over the forecast period. China, Japan, and India are significant market for Consumer Luxury Goods. Visitor from all around the world visiting cities in Asia Pacific is contributing for the market growth.

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Consumer Luxury Goods Market Segmentation

By Product:

Watches
Jewelry
Perfumes and Cosmetics
Clothing
Bags and Purses
Others
By End User:

Women
Men
By Distribution Channel:

Online
Offline
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Consumer Luxury Goods Market Key Players Include

LVMH (France)
Kering SA (France)
The Estée Lauder Companies Inc. (United States)
Chanel Limited (United Kingdom)
L’Oréal Luxe (France)
Compagnie Financière Richemont SA (Switzerland)
Hermès International SCA (France)
Chow Tai Fook Jewellery Group Limited (China/HK SAR)
Rolex SA (Switzerland)
China National Gold Group Gold Jewellery Co., Ltd (China)
The Swatch Group Ltd. (Switzerland)
Maximize Market Research is leading Consumer Goods & Services research firm, has also published the following reports:

Luxury Packaging Market: The market size is expected to reach USD 21.45 Bn by 2029 at a CAGR of 4.6 percent during the forecast period.

Luxury Footwear Market: The total market size is expected to reach USD 35.94 Bn by 2029 at a CAGR of 5 percent over the forecast period.

About Maximize Market Research:

Maximize Market Research provides B2B and B2C research on 6,500 high-growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.



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