USD 33.53 bn growth in Personal Luxury Goods Market| Driven by increased demand for premium beauty products and cosmetics

Robert Hundley

The market is driven by the increased demand for premium beauty products and cosmetics. In addition, the adoption of omnichannel retailing is anticipated to boost the growth of the personal luxury goods market.

The rising awareness about skin-related issues such as spots, acne, and pigmentation is increasing the demand for anti-aging products. In addition, the increase in disposable incomes has increased consumer spending on premium cosmetic products containing high-quality ingredients. To capitalize on this consumer demand, vendors in the market are making significant investments to develop innovative skin care ingredients and technologies. This is increasing the availability of a wider portfolio of products for consumers, thereby driving the growth of the market.

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Major Five Personal Luxury Goods Companies:

Coty Inc.: The company offers personal luxury goods under various brands.

Hermès International: The Company offers luxury goods such as leather goods, fashion jewelry, shoes, fragrances, watches, and ready-to-wear.

Kering SA: The company offers a wide range of personal luxury goods such as handbags, shoes, apparel, and accessories through brands like Gucci, Balenciaga, Ulysse Nardin, Bottega Veneta, and Saint Laurent.

LOreal SA: The company offers a wide range of luxury cosmetics and beauty products through its Loreal luxe division. Some of its brands include Urban Decay, Kiehls, Lancome, Giorgio Armani, and Clarisonic.

LVMH Moet Hennessy Louis Vuitton: The company offers a range of personal luxury goods, such as watches and jewelry, cosmetics and beauty products, and leather goods, under its brands such as Louis Vuitton, Guerlain, Givenchy, Kenzo, and Christian Dior.

Personal Luxury Goods Market: Segmentation Analysis

The 120-pages report segments the global personal luxury goods market by product (accessories, apparel, hard luxury, cosmetics, and others) and geography (APAC, North America, Europe, MEA, and South America).

Personal Luxury Goods Market Product Outlook (Revenue, USD bn, 2020-2025)

  • Accessories – size and forecast 2020-2025
  • Apparel – size and forecast 2020-2025
  • Hard luxury – size and forecast 2020-2025
  • Cosmetics – size and forecast 2020-2025
  • Others – size and forecast 2020-2025

By product, the market observed maximum growth in the accessories segment in 2021. The market growth in the segment is expected to be significant over the forecast period.

Personal Luxury Goods Market Geography Outlook (Revenue, USD bn, 2020-2025)

  • APAC – size and forecast 2020-2025
  • North America – size and forecast 2020-2025
  • Europe – size and forecast 2020-2025
  • MEA – size and forecast 2020-2025
  • South America – size and forecast 2020-2025

By region, APAC will have the largest share of the market. The region currently holds 48% of the global market share. Factors such as the increasing number of high-net-worth individuals, rising growing disposable incomes, increasing consumer interest in luxury products, the availability of a wider portfolio of products, and the thriving tourism industry are driving the growth of the personal luxury goods market in APAC.

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Luxury Massage Chair Market by End-user, Distribution Channel, and Geography – Forecast and Analysis 2021-2025

Personal Luxury Goods Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 3%

Market growth 2021-2025

USD 33.53 billion

Market structure

Fragmented

YoY growth (%)

1.45

Regional analysis

APAC, North America, Europe, MEA, and South America

Performing market contribution

APAC at 48%

Key consumer countries

US, China, Japan, Italy, and France

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

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 inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents:

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market outlook: Forecast for 2020 – 2025

Five Forces Analysis

  • Five force summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Product

  • Market segments
  • Comparison by Product
  • Accessories – Market size and forecast 2020-2025
  • Apparel – 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
  • APAC – Market size and forecast 2020-2025
  • North America – Market size and forecast 2020-2025
  • Europe – Market size and forecast 2020-2025
  • MEA – Market size and forecast 2020-2025
  • South America – Market size and forecast 2020-2025
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Coty Inc.
  • Hermès International
  • Kering SA
  • LOreal SA
  • LVMH Moet Hennessy Louis Vuitton
  • PRADA Group
  • Ralph Lauren Corp.
  • Compagnie Financière Richemont SA
  • Rolex SA
  • The Estee Lauder Companies Inc.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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