Personal Luxury Goods Market Size Expected to Grow by USD 33.53 Billion and Accelerate at a CAGR of Over 2.59% | Technavio
The market is fragmented and the degree of fragmentation will accelerate over the forecast period. The convenience of using personal luxuries will provide immense opportunities for growth. To take advantage of current opportunities, market vendors need to strengthen their presence in fast-growing segments, while maintaining their positions in slow-growing segments.
Personal Luxury Goods Market 2021-2025: Segmentation
The personal luxury goods market is segmented as follows:
- Hard Luxury
- Beauty products
The accessories segment will play an important role in the growth of the personal luxury goods market during the forecast period. Accessories include luxury leather goods including bags, wallets, purses, belts and shoes. Factors such as increasing middle class population and its high purchasing power due to increasing disposable income are expected to drive the accessories segment. Thus, the increase in purchasing power has a positive impact on the demand for luxury accessories such as leather shoes. Therefore, changing fashion trends, innovations in designs and product launches will boost the sales of luxury accessories during the forecast period.
- North America
- South America
APAC will contribute 48% of the market growth over the forecast period. The increase in the number of wealthy people, the increase in the middle class income group as well as the increase in disposable income, the growth of consumer interest in luxury goods, the expansion of the portfolio of Product offerings, new product launches and increasing number of tourist arrivals and revenue are some of the expected factors driving the growth of the personal luxury goods market in the APAC region.
To learn more about global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR70417
Personal Luxury Goods Market 2021-2025: Vendor Analysis and Scope
To help companies improve their market position, the personal luxury market report provides a detailed analysis of about 25 vendors operating in the market. Some of these suppliers include Coty Inc., Hermès International, Kering SA, LOreal SA, LVMH Moet Hennessy Louis Vuitton, PRADA Group, Ralph Lauren Corp., Compagnie Financière Richemont SA, Rolex SA and The Estee Lauder Companies Inc.
The report also covers the following areas:
The growing number of new product launches is expected to become one of the major market drivers. However, the high price of personal luxury goods and the availability of cheaper substitutes may threaten the growth of the market.
Backed by competitive intelligence and benchmarking, our Personal Luxury Goods market research reports are designed to provide entry assistance, customer profiling and M&A as well as growth strategy support. marketing.
Personal Luxury Goods Market 2021-2025: Key Highlights
- Market CAGR over the forecast period 2021-2025
- In-depth information on factors that will contribute to the growth of the Personal Luxury Goods Market over the next five years
- Estimation of the size of the personal luxury goods market and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the personal luxury market
- Market Competitive Landscape Analysis and Detailed Vendor Information
- Complete details of the factors that will challenge the growth of the Personal Luxury Goods Market sellers
Natural Cosmetics Market- The natural cosmetics market is segmented by type (personal care, skin care and others) and by geography (Europe, North America, APAC, MEA and South America). Download FREE sample report
shea butter market– Shea Butter market is segmented by Application (food, personal care and pharmaceuticals) and geography (North America, Europe, APAC, South America, and the Middle East and Africa). Download FREE sample report
Scope of the personal luxury goods market
Growth momentum and CAGR
Accelerate at a CAGR of 3%
Market Growth 2021-2025
Annual growth (%)
APAC, North America, Europe, MEA and South America
Successful market contribution
APAC at 48%
Main consumer countries
United States, China, Japan, Italy and France
Leading Companies, Competitive Strategies, Consumer Engagement Reach
Profiled Key Companies
Coty Inc., Hermès International, Kering SA, LOreal SA, LVMH Moet Hennessy Louis Vuitton, PRADA Group, Ralph Lauren Corp., Compagnie Financière Richemont SA, Rolex SA and The Estee Lauder Companies Inc.
Parent Market Analysis, Market Growth Drivers and Barriers, Fast and Slow Growing Segment Analysis, COVID-19 Impact and Recovery Analysis and Future Consumer Dynamics, Market Status Analysis market for the forecast period
If our report does not include the data you are looking for, you can contact our analysts and customize the segments.
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2020
- Market Outlook: Predictions for 2020 – 2025
Five forces analysis
- Summary of the five forces
- The bargaining power of buyers
- Bargaining power of suppliers
- The threat of new entrants
- The threat of substitutes
- Threat of rivalry
- Market state
Market segmentation by product
- Market segments
- Comparison by product
- Accessories – Market size and forecast 2020-2025
- Clothing – Market size and forecast 2020-2025
- Hard Luxury – Market size and forecast 2020-2025
- Cosmetics – Market size and forecast 2020-2025
- Others – Market size and forecast 2020-2025
- Market opportunity by product
- Geographic segmentation
- Geographic comparison
- Europe – Market size and forecast 2020-2025
- North America – Market size and forecast 2020-2025
- APAC – Market size and forecast 2020-2025
- South America – Market size and forecast 2020-2025
- MEA – Market size and forecast 2020-2025
- Main leading countries
- Market Opportunity by Geography
- Market factors
- Market challenges
- Market trends
- Supplier Landscape
- Landscape disturbance
- Competitive scenario
- Suppliers Covered
- Positioning on the supplier market
- Coty Inc.
- Hermes International
- Kering S.A.
- LOreal SA
- LVMH Moet Hennessy Louis Vuitton
- PRADA Group
- Ralph Lauren Corp.
- Financial Company Richemont SA
- Rolex S.A.
- Estee Lauder Companies Inc.
- Report scope
- Currency conversion rates for the US dollar
- Research methodology
- Abreviations list
Technavio’s in-depth market research reports now include in-depth analysis of the impact of COVID-19 on various markets to help industry leaders navigate their business through the new normal. Download FREE sample report
Technavio is a global leader in technology research and consulting. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialist analysts, Technavio’s reporting library consists of over 17,000 reports and counts, spanning 800 technologies, spanning 50 countries. Their customer base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research, and actionable market intelligence to identify opportunities in existing markets and potentials and assess their competitive positions in changing market scenarios.
Media & Marketing Manager
USA: +1 844 364 1100
UK: +44 203 893 3200
E-mail: [email protected]
Report page: https://www.technavio.com/report/personal-luxury-goods-market-industry-analysis