Luxury Goods in China
Summary
Luxury Goods in China industry profile provides top-line qualitative and quantitative summary information including: market size (value 2018-23, and forecast to 2028). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- The luxury goods market deals with high-end and premium products, which are not considered as essential or necessary for daily living but are rather associated with indulgence and exclusivity. Our market value includes retail sales. Market value does not include non-product sales such as services.
- The Chinese luxury goods market recorded revenues of $73.7 billion in 2023, representing a compound annual growth rate (CAGR) of 4.6% between 2018 and 2023.
- The apparel, footwear & accessories segment accounted for the market's largest proportion in 2023, with total revenues of $47.5 billion, equivalent to 64.4% of the market's overall value.
- The Chinese luxury goods market growth is driven by demographic shifts such as the growing affluent population, high net-worth individuals, and rising millennials and Gen Z population which often prioritizes social status and prestige associated with luxury goods.
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the luxury goods market in China
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the luxury goods market in China
- Leading company profiles reveal details of key luxury goods market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the China luxury goods market with five year forecasts
- What was the size of the China luxury goods market by value in 2023?
- What will be the size of the China luxury goods market in 2028?
- What factors are affecting the strength of competition in the China luxury goods market?
- How has the market performed over the last five years?
- What are the main segments that make up China's luxury goods market?
- 1 Executive Summary
- 1.1. Market value
- 1.2. Market value forecast
- 1.3. Category segmentation
- 1.4. Geography segmentation
- 1.5. Market rivalry
- 1.6. Competitive landscape
- 2 Market Overview
- 2.1. Market definition
- 2.2. Market analysis
- 3 Market Data
- 3.1. Market value
- 4 Market Segmentation
- 4.1. Category segmentation
- 4.2. Geography segmentation
- 5 Market Outlook
- 5.1. Market value forecast
- 6 Five Forces Analysis
- 6.1. Summary
- 6.2. Buyer power
- 6.3. Supplier power
- 6.4. New entrants
- 6.5. Threat of substitutes
- 6.6. Degree of rivalry
- 7 Competitive Landscape
- 7.1. Who are the leading players?
- 7.2. What strategies do the leading players follow?
- 7.3. What are the strengths of the leading player?
- 7.4. What have been the recent market developments?
- 8 Company Profiles
- 8.1. LVMH Moet Hennessy Louis Vuitton SA
- 8.2. Chow Tai Fook Jewellery Group Ltd
- 8.3. Kering S.A.
- 8.4. Compagnie Financiere Richemont SA
- 9 Macroeconomic Indicators
- 9.1. Country data
- 10 Appendix
- 10.1. Methodology
- 10.2. Industry associations
- 10.3. Related MarketLine research
- 10.4. About MarketLine
- List of Tables
- Table 1: China luxury goods market value: $ million, 2018-23
- Table 2: China luxury goods market category segmentation: % share, by value, 2018-2023
- Table 3: China luxury goods market category segmentation: $ million, 2018-2023
- Table 4: China luxury goods market geography segmentation: $ million, 2023
- Table 5: China luxury goods market value forecast: $ million, 2023-28
- Table 6: LVMH Moet Hennessy Louis Vuitton SA: key facts
- Table 7: LVMH Moet Hennessy Louis Vuitton SA: Annual Financial Ratios
- Table 8: LVMH Moet Hennessy Louis Vuitton SA: Key Employees
- Table 9: LVMH Moet Hennessy Louis Vuitton SA: Key Employees Continued
- Table 10: Chow Tai Fook Jewellery Group Ltd: key facts
- Table 11: Chow Tai Fook Jewellery Group Ltd: Annual Financial Ratios
- Table 12: Chow Tai Fook Jewellery Group Ltd: Key Employees
- Table 13: Kering S.A.: key facts
- Table 14: Kering S.A.: Annual Financial Ratios
- Table 15: Kering S.A.: Key Employees
- Table 16: Compagnie Financiere Richemont SA: key facts
- Table 17: Compagnie Financiere Richemont SA: Annual Financial Ratios
- Table 18: Compagnie Financiere Richemont SA: Key Employees
- Table 19: Compagnie Financiere Richemont SA: Key Employees Continued
- Table 20: China size of population (million), 2019-23
- Table 21: China gdp (constant 2005 prices, $ billion), 2019-23
- Table 22: China gdp (current prices, $ billion), 2019-23
- Table 23: China inflation, 2019-23
- Table 24: China consumer price index (absolute), 2019-23
- Table 25: China exchange rate, 2019-23
- List of Figures
- Figure 1: China luxury goods market value: $ million, 2018-23
- Figure 2: China luxury goods market category segmentation: $ million, 2018-2023
- Figure 3: China luxury goods market geography segmentation: % share, by value, 2023
- Figure 4: China luxury goods market value forecast: $ million, 2023-28
- Figure 5: Forces driving competition in the luxury goods market in China, 2023
- Figure 6: Drivers of buyer power in the luxury goods market in China, 2023
- Figure 7: Drivers of supplier power in the luxury goods market in China, 2023
- Figure 8: Factors influencing the likelihood of new entrants in the luxury goods market in China, 2023
- Figure 9: Factors influencing the threat of substitutes in the luxury goods market in China, 2023
- Figure 10: Drivers of degree of rivalry in the luxury goods market in China, 2023
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