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:

  • Product
    • Accessories
    • Clothes
    • Hard Luxury
    • Beauty products
    • Others

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.

  • Geographical
    • Europe
    • North America
    • APAC
    • South America
    • AEM

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.

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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

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Scope of the personal luxury goods market

Report cover

Details

Page number

120

base year

2020

Forecast period

2021-2025

Growth momentum and CAGR

Accelerate at a CAGR of 3%

Market Growth 2021-2025

$33.53 billion

Market structure

Fragmented

Annual growth (%)

1.45

Regional analysis

APAC, North America, Europe, MEA and South America

Successful market contribution

APAC at 48%

Main consumer countries

United States, China, Japan, Italy and France

Competitive landscape

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.

Market dynamics

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

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

Contents:

Summary

Market landscape

  • Market ecosystem
  • Value chain analysis

Market sizing

  • 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

Customer landscape

Geographic landscape

  • 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

  • Supplier Landscape
  • Landscape disturbance
  • Competitive scenario

Vendor analysis

  • 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.

appendix

  • Report scope
  • Currency conversion rates for the US dollar
  • Research methodology
  • Abreviations list

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