Luxury Goods Market in APAC 2024-2028

Luxury Goods Market In APAC 2024-2028

The luxury goods market in APAC is forecasted to grow by USD 22.82 bn during 2023-2028, accelerating at a CAGR of 3.3% during the forecast period. The report on the luxury goods market in APAC 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 products, expansion in online retailing of luxury goods, and rising disposable income of consumers in APAC.

Technavio's luxury goods market in APAC is segmented as below:

By Distribution Channel

• Offline
• Online

By Product

• Clothing
• Perfumes and cosmetics
• Watches and jewelry
• Others

This study identifies the rise in demand for sustainable luxury goods as one of the prime reasons driving the luxury goods market in APAC growth during the next few years. Also, brand promotion through social media and growing demand for personalized luxury goods will lead to sizable demand in the market.

The report on the luxury goods market in APAC covers the following areas:

• Luxury goods market in APAC sizing
• Luxury goods market in APAC forecast
• Luxury goods market in APAC industry analysis

The 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 luxury goods market in APAC vendors that include Bang and Olufsen Group, Burberry Group Plc, Capri Holdings Ltd., Cartier SA, Chanel Ltd., Compagnie Financiere Richemont SA, Dolce and Gabbana SRL, Gianni Versace Srl, Giorgio Armani S.p.A., Hermes International SA, JOHN HARDY USA Inc., Kering SA, LVMH Moet Hennessy Louis Vuitton SE, MCM Products USA Inc., Prada S.p.A, Ralph Lauren Corp., Rolex SA, S.T. Dupont SA, Swarovski AG, and The Swatch Group Ltd.. Also, the luxury goods market in APAC 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.

The publisher 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. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.