Personal Luxury Goods Market: Technavio Research Identifies APAC as the Dominant Region
Geographical Segmentation and Growth Analysis
The personal luxury goods market is set to grow by $ 33.53 bn, accelerating at a CAGR of almost 3% during the forecast period. This research report analyses the growth trajectory of the market with a purview to prevalent market scenarios. It provides a detailed analysis of all the trends, drivers, and challenges that will impact the market during the forecast period. The report also offers a breakdown of all the regional players and their market share along with best-performing segments. This detailed analysis will help our clients identify areas of high growth as well as those with significant growth potential.
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Personal Luxury Goods Market: APAC to lead market growth during the forecast period
- 48% of the market growth will originate from APAC during the forecast period. This report provides an accurate prediction of the contribution of all the geographic segments to the growth of the Personal Luxury Goods Market size.
- Increased demand for premium beauty products and cosmetics will be a significant factor in driving the growth of the personal luxury goods market. This report provides a detailed analysis of all the trends that are likely to influence the growth of individual segments within the market as well as the overall market in focus. This analysis will thus enable clients to assess their play in the market and plan for growth opportunities.
- Market is segmented by Product (Accessories, Apparel, Hard luxury, Cosmetics, and Others) and Geography (APAC, North America, Europe, MEA, and South America).
The report provides insights into the following FAQs:
- What is the market CAGR?
The market will accelerate at a CAGR of almost 3%.
- What is the incremental growth of the market?
The market is expected to grow by $ 33.53 bn through 2021-2025.
- What is a key factor driving this market?
increased demand for premium beauty products and cosmetics will drive market growth over the forecast period.
- What are the key regions covered in this market research report?
APAC, North America, Europe, MEA, and South America are the key regions featured in this research report.
- Which is the leading geographic region for this market:
48% growth will originate from APAC
- Who are the leading market vendors?
The leading vendors in this market are 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.
- What are the market segments covered in this report?
The market is segmented by Product (Accessories, Apparel, Hard luxury, Cosmetics, and Others) and Geography (APAC, North America, Europe, MEA, and South America).
Market Segmentation by Product
- Personal Luxury Goods Market Split by Product
- Accessories
- Apparel
- Hard luxury
- Cosmetics
- Others
- Personal Luxury Goods Market Split by Geography
- APAC
- North America
- Europe
- MEA
- South America
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2020-2025
- MEA - Market size and forecast 2020-2025
- Europe - Market size and forecast 2020-2025
- North America - 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
- Competitive scenario
- Vendor landscape
- Landscape disruption
Vendor Analysis
- 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.
Personal Luxury Goods Market | Leading Segments, Trends, Drivers and Challenges
Market Segments and Growth Analysis 2021-2025
Global personal luxury goods market will post an incremental growth of $ 33.53 billlion, progressing at a CAGR of almost 3% during the forecast period. Our research report segments the market into major segments and the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus.
For a snapshot of our exhaustive research analysis and insights: Request for Our Free Sample Report
Personal Luxury Goods Market: Leading Segments and Growth Analysis
This research report will provide insights into the current market share of each segment along with growth projections for the next five years.
- Market is segmented Product (Accessories, Apparel, Hard luxury, Cosmetics, and Others) and Geography (APAC, North America, Europe, MEA, and South America).
- 48% of the market growth will originate from APAC during the forecast period. This report provides an accurate prediction of the contribution of all the geographic segments to the growth of the Personal Luxury Goods Market size.
Personal Luxury Goods Market: Trends, Drivers, Challenges
The research report looks at the impact of various trends, drivers, and challenges for market growth during the forecast period. These insights will enable clients to design a growth strategy for their business and area of operations.
- A significant factor in driving the growth of the Personal Luxury Goods Market will be the increased demand for premium beauty products and cosmetics.
- One of the key challenges that market players need to contend with in order to achieve further success is the increasing labor costs and fluctuating raw material prices.
Personal Luxury Goods Market: Vendor Analysis
- The market is fragmented.
- The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
- 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. are some of the major market participants.
For more insights into this market: Download a Free Sample Report. Our custom reports provide market insights at the global and regional level along with pipeline analysis of new product launches. It also provides a peek into the latest R&D along with an impact analysis of government regulations.
The report provides insights into the following FAQs:
- What is the market CAGR?
The market will accelerate at a CAGR of almost 3%.
- What is the incremental growth of the market?
The market is expected to grow by $ 33.53 billion through 2021-2025.
- What is a key factor driving this market?
Increased demand for premium beauty products and cosmetics will drive market growth over the forecast period.
- What are the key regions covered in this market research report?
APAC, North America, Europe, MEA, and South America are the key regions featured in this research report.
- Which is the leading geographic region for this market:
48% growth will originate from APAC
- Who are the leading market vendors?
The leading vendors in this market are 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.
- What are the market segments covered in this report?
The market is segmented by Product (Accessories, Apparel, Hard luxury, Cosmetics, and Others) and Geography (APAC, North America, Europe, MEA, and South America)
Technavio has been monitoring the global personal luxury goods market and it is expected to grow by $ 33.53 billion, progressing at a CAGR of almost 3% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. View Free Sample Report
APAC to lead market growth during the forecast period
- 48% of the market growth will originate from APAC during the forecast period. China and Japan are the key markets for personal luxury goods market in APAC. Market growth in this region will be faster than the growth of the market in other regions. The rising number of high net worth individuals, expanding middle-class income group, and growing consumer interest in luxury products will facilitate the personal luxury goods market growth in APAC over the forecast period.
- The preference for premium cosmetics, especially skin care products, is growing. These products contain the right combination of high-quality ingredients. The awareness about skin-related issues such as spots, acne, and pigmentation is encouraging consumers to purchase advanced anti-aging products.
- The adoption of omnichannel retailing is enhancing product visibility and stimulating the purchase of these premium skin care products and personal luxury goods such as advanced anti-aging products.
Personal Luxury Goods Market: Key Competitors
The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. 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. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
For more insights on this market: Download a Free Sample Report
Personal Luxury Goods Market: Key Highlights of the Report for 2021-2025
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive Personal Luxury Goods Market growth during the next five years
- Precise estimation of the personal luxury goods market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the industry across APAC, North America, Europe, MEA, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of Personal luxury goods market vendors
