Global Personal Luxury Goods Market 2023-2027

Global Personal Luxury Goods Market 2023-2027

Technavio has been monitoring the personal luxury goods market and is forecast to grow by $42.43 bn during 2022-2027, accelerating at a CAGR of 2.7% during the forecast period. Our report on the personal luxury goods market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increased demand for premium beauty products and cosmetics, the influence of different marketing strategies on customers purchase decisions, and increasing demand for affordable luxury goods.

Technavio's personal luxury goods market is segmented as below:

By Distribution Channel

• Offline
• Online

By Product

• Hard luxury
• Apparel
• Cosmetics and perfumes
• Accessories
• Others

By Geographical Landscape

• Europe
• North America
• APAC
• Middle East and Africa
• South America

This study identifies the integration of technology as one of the prime reasons driving the personal luxury goods market growth during the next few years. Also, the adoption of omnichannel retailing and brand promotion through social media will lead to sizable demand in the market.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the personal luxury goods market covers the following areas:

• Personal luxury goods market sizing
• Personal luxury goods market forecast
• Personal luxury goods market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading personal luxury goods market vendors that include Capri Holdings Ltd., Chow Tai Fook Jewellery Group Ltd., Compagnie Financiere Richemont SA, Coty Inc., Giorgio Armani S.p.A., Hermes International SA, Kering SA, LOreal SA, LVMH Moet Hennessy Louis Vuitton SE, Prada S.p.A, PVH Corp., Ralph Lauren Corp., Rolex SA, Safilo Group Spa, Shiseido Co. Ltd., Swarovski AG, Tapestry Inc., The Estee Lauder Co. Inc., The Level Group S.r.l., and The Swatch Group Ltd. Also, the personal luxury goods market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.