DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Global Luxury Goods Market - Opportunities and Forecasts, 2014-2022" report to their offering.
The global luxury goods market is expected to reach $428,509 million by 2022, registering a CAGR of 3.8% during the forecast period.
The rise in disposable income has elevated the consumer lifestyle and shifted their preference towards deluxe cosmetics products. Moreover, the escalation in demand for luxury accessories and jewelry due to unique craftsmanship, refinement, quality, and brand name, further fuel the market. In addition, upgradation in product packaging styles and attractive marketing strategies by key players drive this market. However, currency depreciation, increased prices of raw materials, and economic turbulence in some developed countries could hamper the market growth.
This market is segmented on the basis of product type, mode of sale, gender, and geography. The product type segment includes designer apparels & footwear, accessories, cosmetics, jewelry, travel goods, fine wines/champagne & spirits, and others. In the year 2015, designer apparels and jewelry were the most popular segments and held a cumulative share of more than 59% in global luxury goods market.
The mode of sale could either be retail or online sale, wherein retail mode includes brand outlets, franchise stores, flagship stores, and retail outlets. Most customers prefer the retail mode of sale while buying luxury goods. However, online mode of sale is steadily gaining momentum and is expected to grow at the highest CAGR of 6.2% during the forecast period.
Scope of the Report
- Designer Apparels & Footwear
- Fine Wines/Champagne and Spirits
- Travel Goods
Luxury Goods Market by Gender
Luxury Goods Market by Mode of Sale
- This report provides an in-depth analysis of the global luxury goods market to identify the potential investment pockets.
- It outlines the current trends and future scenarios to determine the overall market potential and gain stronger market foothold.
- Key drivers, restraints, and opportunities along with their detailed impact analysis have been elucidated.
- Quantitative analysis of the market for the period of 2014-2022 are highlighted to recognize the financial competency of the market.
- Porter's Five Forces model illustrates the threat of new entrants, threat of substitutes, strength of the buyers, and strength of suppliers.
- Value chain analysis provides a clear understanding on the roles of stakeholders involved.
The report includes comprehensive analysis of the key players in this market such as
- The Estee Lauder Companies Inc.
- L'Oréal International
- LVMH Group
- Kering SA
- The Shiseido Company, Ltd.
- Prada S.p.A.
- Ralph Lauren Corporation
- Swatch Group
- Luxottica Group S.p.A
- Compagnie Financière Richemont SA
For more information about this report visit http://www.researchandmarkets.com/research/576z2t/global_luxury