ALBANY, N.Y.--(BUSINESS WIRE)--According to a recent market research report published by Transparency
Market Research, the global luxury goods market is expected to develop
at a moderate CAGR of 3.4% during the period between 2014 and 2020. The
report, titled “Global Luxury Goods Market - Industry Analysis, Size,
Share, Growth, Trends, and Forecast, 2014 – 2020”, estimates the
market to reach a valuation of US$374.85 billion by 2020. The overall
market was worth US$296.1 billion in 2013.
Browse Report: http://www.transparencymarketresearch.com/luxury-goods-market.html
The report indicates that the increase in disposable income has
significantly contributed towards the growth of the global luxury goods
market, especially in the developed economies. Though consumers in the
emerging economies are increasingly becoming aware of the luxury goods,
inadequate number of outlets and channels has restricted the market from
expanding in the developing nations. The report further mentions that
the uncertain economic scenarios, coupled with currency devaluation,
will negatively impact the market.
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On the basis of product types, the report segments the global luxury
goods market into apparels and leather goods, luxury watches and
jewelry, wines/ champagne and spirits, luxury personal care and
cosmetics, fragrances, and others. In 2013, apparel and leather goods
segment was the largest and is expected to dominate the market during
the forecast horizon. During 2014-2020 the market is likely to witness
an increase in the sales of products in segments including fragrances
segment, wine/champagnes, and spirits owing to the rising demand from
Latin America and Asia.
Browse Press Release: http://www.transparencymarketresearch.com/pressrelease/luxury-goods-market.htm
The report studies the global luxury goods market across four key regions: Asia Pacific, Europe, North America, and Rest of the World. In 2013, Europe was the largest market for luxury goods due to the presence of extensive travel retail network and duty-free shops.
- Browse Article: http://www.transparencymarketresearch.com/article/luxury-goods-market.htm
- Browse Blog: http://www.tmrblog.com/2015/08/global-luxury-goods-market.html
Transparency Market Research (TMR) is a market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.