Though far from
exciting, the growth of the global luxury goods market will remain
steady in the near future, says a latest study by Transparency Market
Research. The report, titled, ‘Global Luxury Goods Market -
Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2014 –
2020,’ pegs the market to report a modest 3.4% CAGR through
its six-year forecast period. While the market was valued at US$296.1
billion in 2013, it is forecast to stand at US$ 374.85 billion by the
end of 2020. The luxury goods market has been witnessing major growth
due to the addition of new high net-worth customers.. A major
transformation has happened with regard to lifestyle of wealthy young
and affluent customers, who are extremely brand-conscious these days.
Companies are forming various strategies to cater to customers in the
most effective manner. Development of mobile applications, websites,
and campaigns on social networking sites are some initiatives
companies are adopting in order to attract new customers and engage
old ones. The global luxury goods market is characterized by large
number of mergers and acquisitions, thus making it highly
consolidated in the near future. Different segments adopt unique
strategies to develop their product lines. Some companies are
focusing on distribution, while others are producing unique
high-priced products in the form of limited editions.
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Research Report of Global Luxury Goods Market :
This study offers a
competitive analysis of the global luxury goods market by type and by
geography. The report also contains further segmentation by type
across major geographies. In addition, it provides current and
forecast market size by revenue for major luxury products for the
period 2014–2020. The report discusses current and future trends
for major regions and countries in a precise manner. Furthermore, the
report also presents the current market size of each country in major
regions and their respective projected market size in 2020. Major
players in the global luxury goods market include LVMH Group, Kering
S.A., Rolex S.A., L’Oreal Group, Tiffany & Co., Coty, Inc., The
Swatch Group Ltd., Prada S.p.A, Compagnie Financière Richemont S.A.,
Hermes International SCA, Graff Diamonds, Burberry Group plc, Revlon,
Inc., and Avon Products, Inc.
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Report :
The global luxury
goods market is expected to grow moderately over the forecast period.
However, the market in Rest of the World (RoW) and Asia Pacific
(APAC) is likely to grow at a healthy CAGR, owing to major lifestyle
changes among consumers in these regions. In addition, consumers in
these regions are well-informed about the various fashion trends
around the world. Therefore, the market in RoW and APAC regions are
poised to grow briskly between 2014 and 2020. The market has been
segmented by product type into luxury watches & jewelry, apparels
and leather goods, luxury personal care & cosmetics,
wines/champagne and spirits, fragrances, and others.
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Release of Global Luxury Goods Market :
The report includes
major drivers of the luxury goods market in the present scenario.
Additionally, restraints and opportunities for the same are discussed
in detail. The market overview comprises value chain analysis, which
describes various stages where companies can add value and strengthen
their positions in the market. Furthermore, the report analyzes macro
economic factors influencing and inhibiting growth of the global
luxury goods market. Porter’s Five Forces analysis offers insights
on market competition throughout its value chain. The market
attractiveness analysis highlights key investing areas in this
industry.
Extensive secondary
research and primary interviews has been performed to capture only
genuine information for analysis in this report.
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The global luxury
goods market here refers to the market by type and by geography, and
is categorized into the following segments:
Global luxury
goods market by type
The different types covered under this research study are defined
as follows:
- Luxury Watches & Jewelry
- Apparels and Leather Goods
- Luxury Personal Care & Cosmetics
- Wines/Champagne and Spirits
- Fragrances
- Others (tableware, luxury pens)
In addition, the report provides a cross-sectional analysis of all
the above segments with respect to the following geographical
markets:
- North America
- Europe
- Asia-Pacific
- Rest of the World
In-depth research
and high-level analysis will enable market vendors and research and
development agencies to make informed decisions about the global
luxury goods market, formulate growth strategies, and gain
competitive advantage. This study serves to assist manufacturers,
suppliers, distributors, and retailers in this market and industry to
formulate and develop their strategies.
About Us :
Transparency Market
Research is a global market intelligence company, providing global
business information reports and services. Our exclusive blend of
quantitative forecasting and trends analysis provides forward-looking
insight for thousands of decision makers. Our experienced team of
Analysts, Researchers, and Consultants, use proprietary data sources
and various tools and techniques to gather, and analyze information.
Our data repository
is continuously updated and revised by a team of research experts, so
that it always reflects the latest trends and information. With a
broad research and analysis capability, Transparency Market Research
employs rigorous primary and secondary research techniques in
developing distinctive data sets and research material for business
reports.
