Personal Luxury Goods Market size to grow by USD 42.43 billion from 2022 to 2027, Driven by the increased demand for premium beauty products and cosmetics – Technavio

NEW YORK, April 3, 2023 /PRNewswire/ — The personal luxury goods market is estimated to grow by USD 42.43 billion from 2022 to 2027. The growth momentum will progress at a CAGR of 2.7% during the forecast period. The market is segmented by distribution channel (offline and online), product (hard luxury, apparel, cosmetics and perfumes, accessories, and others), and geography (Europe, North America, APAC, Middle East and Africa, and South America). The market share growth by the offline segment will be significant during the forecast period. The revenue of the offline distribution channel is generated from the sales of products through speciality stores, including brand-owned stores, multi-brand stores, apparel stores, fashion, and personal accessory stores, sports equipment stores, hypermarkets, supermarkets, convenience stores, clubhouse stores, and department stores. The rapid growth in retail channels in different regions drives customer familiarization with different types of footwear, purses, belts, and many other things. The growing demand for premium beauty products and cosmetics drives market growth. As disposable incomes increase, consumers spend more and more on high-quality cosmetics, especially skincare products. Consumers are increasingly aware of skin concerns such as blemishes, acne, and pigmentation and are willing to pay for high-quality skin care products. Technological advances have increased the number of high-quality, advanced anti-aging products. Hence, premium beauty products are expected to drive market growth. For more insights on the historic period (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report   

Personal luxury goods market insights –

  • Vendors: 15+, Including 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. among others
  • Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors
  • Segments: Distribution Channel (Offline and Online), Product (Hard luxury, Apparel, Cosmetics and perfumes, Accessories, and Others), and Geography (Europe, North America, APAC, Middle East and Africa, and South America)

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Personal luxury goods market – Vendor Insights

The global personal luxury goods market is characterized by growing competition due to the presence of multiple established vendors that provide a wide range of products. The market is expected to grow during the forecast period because of the rising demand for personal luxury goods and rapid urbanization.

Personal Luxury Goods Market – Market Dynamics

Major Trends – 

Brand promotion through social media is an emerging trend in the global personal luxury goods market. Social media plays an important role to increase product awareness. It provides a platform to actively interact with consumers. Consumers use social networking sites and blogs to know about personal luxury products such as cosmetics, bags, shoes, and clothing. Sellers can use these platforms to create awareness and promote their products. Hence, social media is a major demand driver for the personal luxury goods market.

Key challenges – 

The existence of counterfeit products is a major challenge impeding market growth. The increasing market prospects of personal products and their rising demand drive the sales of counterfeit personal luxury goods, especially in developing countries. Moreover, the spread of e-commerce drives the sales of counterfeit products, as it is difficult for customers to distinguish genuine products from fake products. Counterfeit products are inexpensive. Therefore, the high demand for these products adversely affects the sales and pricing strategies of genuine sellers, reducing their market share and harming their reputation. Hence, counterfeit products will hinder the market growth of the personal luxury goods market during the forecast period.

Drivers and Challenges have an impact on market dynamics, which can impact businesses. Find some insights from a sample report!

The personal luxury goods market report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as future prospects.

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What are the key data covered in this Personal Luxury Goods Market report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the personal luxury goods market between 2023 and 2027
  • Precise estimation of the size of the personal luxury goods market and its contribution to the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the personal luxury goods market across Europe, North America, APAC, Middle East and Africa, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information about vendors
  • Comprehensive analysis of factors that will challenge the growth of personal luxury goods market vendors

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Personal Luxury Goods Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 2.7%

Market growth 2023-2027

USD 42.43 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

1.7

Regional analysis

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

Performing market contribution

Europe at 35%

Key countries

US, China, Germany, France, and UK

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

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.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis 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.

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Table Of Contents :

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis 
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
  • 3.4 Market outlook: Forecast for 2022-2027 
    • Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
    • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

  • 4.1 Global personal luxury goods market 2017 – 2021 
    • Exhibit 18: Historic Market Size – Data Table on Global personal luxury goods market 2017 – 2021 ($ billion)
  • 4.2 Distribution Channel Segment Analysis 2017 – 2021 
    • Exhibit 19: Historic Market Size – Distribution Channel Segment 2017 – 2021 ($ billion)
  • 4.3 Product Segment Analysis 2017 – 2021 
    • Exhibit 20: Historic Market Size – Product Segment 2017 – 2021 ($ billion)
  • 4.4 Geography Segment Analysis 2017 – 2021 
    • Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ billion)
  • 4.5 Country Segment Analysis 2017 – 2021 
    • Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ billion)

5 Five Forces Analysis

  • 5.1 Five forces summary
    • Exhibit 23: Five forces analysis – Comparison between 2022 and 2027
  • 5.2 Bargaining power of buyers 
    • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
  • 5.3 Bargaining power of suppliers 
    • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
  • 5.4 Threat of new entrants 
    • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
  • 5.5 Threat of substitutes 
    • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
  • 5.6 Threat of rivalry
    • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
  • 5.7 Market condition
    • Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Distribution Channel

  • 6.1 Market segments
    • Exhibit 30: Chart on Distribution Channel – Market share 2022-2027 (%)
    • Exhibit 31: Data Table on Distribution Channel – Market share 2022-2027 (%)
  • 6.2 Comparison by Distribution Channel 
    • Exhibit 32: Chart on Comparison by Distribution Channel
    • Exhibit 33: Data Table on Comparison by Distribution Channel
  • 6.3 Offline – Market size and forecast 2022-2027 
    • Exhibit 34: Chart on Offline – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 35: Data Table on Offline – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 36: Chart on Offline – Year-over-year growth 2022-2027 (%)
    • Exhibit 37: Data Table on Offline – Year-over-year growth 2022-2027 (%)
  • 6.4 Online – Market size and forecast 2022-2027 
    • Exhibit 38: Chart on Online – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 39: Data Table on Online – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 40: Chart on Online – Year-over-year growth 2022-2027 (%)
    • Exhibit 41: Data Table on Online – Year-over-year growth 2022-2027 (%)
  • 6.5 Market opportunity by Distribution Channel 
    • Exhibit 42: Market opportunity by Distribution Channel ($ billion)

7 Market Segmentation by Product

  • 7.1 Market segments
    • Exhibit 43: Chart on Product – Market share 2022-2027 (%)
    • Exhibit 44: Data Table on Product – Market share 2022-2027 (%)
  • 7.2 Comparison by Product 
    • Exhibit 45: Chart on Comparison by Product
    • Exhibit 46: Data Table on Comparison by Product
  • 7.3 Hard luxury – Market size and forecast 2022-2027 
    • Exhibit 47: Chart on Hard luxury – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 48: Data Table on Hard luxury – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 49: Chart on Hard luxury – Year-over-year growth 2022-2027 (%)
    • Exhibit 50: Data Table on Hard luxury – Year-over-year growth 2022-2027 (%)
  • 7.4 Apparel – Market size and forecast 2022-2027 
    • Exhibit 51: Chart on Apparel – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 52: Data Table on Apparel – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 53: Chart on Apparel – Year-over-year growth 2022-2027 (%)
    • Exhibit 54: Data Table on Apparel – Year-over-year growth 2022-2027 (%)
  • 7.5 Cosmetics and perfumes – Market size and forecast 2022-2027 
    • Exhibit 55: Chart on Cosmetics and perfumes – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 56: Data Table on Cosmetics and perfumes – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 57: Chart on Cosmetics and perfumes – Year-over-year growth 2022-2027 (%)
    • Exhibit 58: Data Table on Cosmetics and perfumes – Year-over-year growth 2022-2027 (%)
  • 7.6 Accessories – Market size and forecast 2022-2027 
    • Exhibit 59: Chart on Accessories – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 60: Data Table on Accessories – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 61: Chart on Accessories – Year-over-year growth 2022-2027 (%)
    • Exhibit 62: Data Table on Accessories – Year-over-year growth 2022-2027 (%)
  • 7.7 Others – Market size and forecast 2022-2027 
    • Exhibit 63: Chart on Others – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 64: Data Table on Others – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 65: Chart on Others – Year-over-year growth 2022-2027 (%)
    • Exhibit 66: Data Table on Others – Year-over-year growth 2022-2027 (%)
  • 7.8 Market opportunity by Product 
    • Exhibit 67: Market opportunity by Product ($ billion)

8 Customer Landscape

  • 8.1 Customer landscape overview 
    • Exhibit 68: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

  • 9.1 Geographic segmentation 
    • Exhibit 69: Chart on Market share by geography 2022-2027 (%)
    • Exhibit 70: Data Table on Market share by geography 2022-2027 (%)
  • 9.2 Geographic comparison 
    • Exhibit 71: Chart on Geographic comparison
    • Exhibit 72: Data Table on Geographic comparison
  • 9.3 Europe – Market size and forecast 2022-2027 
    • Exhibit 73: Chart on Europe – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 74: Data Table on Europe – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 75: Chart on Europe – Year-over-year growth 2022-2027 (%)
    • Exhibit 76: Data Table on Europe – Year-over-year growth 2022-2027 (%)
  • 9.4 North America – Market size and forecast 2022-2027 
    • Exhibit 77: Chart on North America – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 78: Data Table on North America – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 79: Chart on North America – Year-over-year growth 2022-2027 (%)
    • Exhibit 80: Data Table on North America – Year-over-year growth 2022-2027 (%)
  • 9.5 APAC – Market size and forecast 2022-2027 
    • Exhibit 81: Chart on APAC – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 82: Data Table on APAC – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 83: Chart on APAC – Year-over-year growth 2022-2027 (%)
    • Exhibit 84: Data Table on APAC – Year-over-year growth 2022-2027 (%)
  • 9.6 Middle East and Africa – Market size and forecast 2022-2027 
    • Exhibit 85: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 86: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 87: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
    • Exhibit 88: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)
  • 9.7 South America – Market size and forecast 2022-2027 
    • Exhibit 89: Chart on South America – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 90: Data Table on South America – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 91: Chart on South America – Year-over-year growth 2022-2027 (%)
    • Exhibit 92: Data Table on South America – Year-over-year growth 2022-2027 (%)
  • 9.8 US – Market size and forecast 2022-2027 
    • Exhibit 93: Chart on US – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 94: Data Table on US – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 95: Chart on US – Year-over-year growth 2022-2027 (%)
    • Exhibit 96: Data Table on US – Year-over-year growth 2022-2027 (%)
  • 9.9 Germany – Market size and forecast 2022-2027 
    • Exhibit 97: Chart on Germany – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 98: Data Table on Germany – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 99: Chart on Germany – Year-over-year growth 2022-2027 (%)
    • Exhibit 100: Data Table on Germany – Year-over-year growth 2022-2027 (%)
  • 9.10 China – Market size and forecast 2022-2027 
    • Exhibit 101: Chart on China – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 102: Data Table on China – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 103: Chart on China – Year-over-year growth 2022-2027 (%)
    • Exhibit 104: Data Table on China – Year-over-year growth 2022-2027 (%)
  • 9.11 France – Market size and forecast 2022-2027 
    • Exhibit 105: Chart on France – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 106: Data Table on France – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 107: Chart on France – Year-over-year growth 2022-2027 (%)
    • Exhibit 108: Data Table on France – Year-over-year growth 2022-2027 (%)
  • 9.12 UK – Market size and forecast 2022-2027 
    • Exhibit 109: Chart on UK – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 110: Data Table on UK – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 111: Chart on UK – Year-over-year growth 2022-2027 (%)
    • Exhibit 112: Data Table on UK – Year-over-year growth 2022-2027 (%)
  • 9.13 Market opportunity by geography 
    • Exhibit 113: Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

  • 10.1 Market drivers
  • 10.2 Market challenges
  • 10.3 Impact of drivers and challenges 
    • Exhibit 114: Impact of drivers and challenges in 2022 and 2027
  • 10.4 Market trends

11 Vendor Landscape

  • 11.1 Overview
  • 11.2 Vendor landscape
    • Exhibit 115: Overview on Criticality of inputs and Factors of differentiation
  • 11.3 Landscape disruption
    • Exhibit 116: Overview on factors of disruption
  • 11.4 Industry risks
    • Exhibit 117: Impact of key risks on business

12 Vendor Analysis

  • 12.1 Vendors covered
    • Exhibit 118: Vendors covered
  • 12.2 Market positioning of vendors 
    • Exhibit 119: Matrix on vendor position and classification
  • 12.3 Capri Holdings Ltd.
    • Exhibit 120: Capri Holdings Ltd. – Overview
    • Exhibit 121: Capri Holdings Ltd. – Business segments
    • Exhibit 122: Capri Holdings Ltd. – Key news
    • Exhibit 123: Capri Holdings Ltd. – Key offerings
    • Exhibit 124: Capri Holdings Ltd. – Segment focus
  • 12.4 Chow Tai Fook Jewellery Group Ltd. 
    • Exhibit 125: Chow Tai Fook Jewellery Group Ltd. – Overview
    • Exhibit 126: Chow Tai Fook Jewellery Group Ltd. – Business segments
    • Exhibit 127: Chow Tai Fook Jewellery Group Ltd. – Key offerings
    • Exhibit 128: Chow Tai Fook Jewellery Group Ltd. – Segment focus
  • 12.5 Compagnie Financiere Richemont SA 
    • Exhibit 129: Compagnie Financiere Richemont SA – Overview
    • Exhibit 130: Compagnie Financiere Richemont SA – Business segments
    • Exhibit 131: Compagnie Financiere Richemont SA – Key offerings
    • Exhibit 132: Compagnie Financiere Richemont SA – Segment focus
  • 12.6 Coty Inc.
    • Exhibit 133: Coty Inc. – Overview
    • Exhibit 134: Coty Inc. – Business segments
    • Exhibit 135: Coty Inc. – Key offerings
    • Exhibit 136: Coty Inc. – Segment focus
  • 12.7 Giorgio Armani S.p.A
    • Exhibit 137: Giorgio Armani S.p.A. – Overview
    • Exhibit 138: Giorgio Armani S.p.A. – Product / Service
    • Exhibit 139: Giorgio Armani S.p.A. – Key offerings
  • 12.8 Hermes International SA 
    • Exhibit 140: Hermes International SA – Overview
    • Exhibit 141: Hermes International SA – Business segments
    • Exhibit 142: Hermes International SA – Key offerings
    • Exhibit 143: Hermes International SA – Segment focus
  • 12.9 Kering SA
    • Exhibit 144: Kering SA – Overview
    • Exhibit 145: Kering SA – Business segments
    • Exhibit 146: Kering SA – Key offerings
    • Exhibit 147: Kering SA – Segment focus
  • 12.10 LOreal SA
    • Exhibit 148: LOreal SA – Overview
    • Exhibit 149: LOreal SA – Business segments
    • Exhibit 150: LOreal SA – Key news
    • Exhibit 151: LOreal SA – Key offerings
    • Exhibit 152: LOreal SA – Segment focus
  • 12.11 LVMH Moet Hennessy Louis Vuitton SE 
    • Exhibit 153: LVMH Moet Hennessy Louis Vuitton SE – Overview
    • Exhibit 154: LVMH Moet Hennessy Louis Vuitton SE – Business segments
    • Exhibit 155: LVMH Moet Hennessy Louis Vuitton SE – Key news
    • Exhibit 156: LVMH Moet Hennessy Louis Vuitton SE – Key offerings
    • Exhibit 157: LVMH Moet Hennessy Louis Vuitton SE – Segment focus
  • 12.12 Prada S.p.A
    • Exhibit 158: Prada S.p.A – Overview
    • Exhibit 159: Prada S.p.A – Product / Service
    • Exhibit 160: Prada S.p.A – Key offerings
  • 12.13 PVH Corp.
    • Exhibit 161: PVH Corp. – Overview
    • Exhibit 162: PVH Corp. – Business segments
    • Exhibit 163: PVH Corp. – Key offerings
    • Exhibit 164: PVH Corp. – Segment focus
  • 12.14 Ralph Lauren Corp.
    • Exhibit 165: Ralph Lauren Corp. – Overview
    • Exhibit 166: Ralph Lauren Corp. – Business segments
    • Exhibit 167: Ralph Lauren Corp. – Key offerings
    • Exhibit 168: Ralph Lauren Corp. – Segment focus
  • 12.15 Rolex SA
    • Exhibit 169: Rolex SA – Overview
    • Exhibit 170: Rolex SA – Product / Service
    • Exhibit 171: Rolex SA – Key offerings
  • 12.16 The Level Group S.r.l. 
    • Exhibit 172: The Level Group S.r.l. – Overview
    • Exhibit 173: The Level Group S.r.l. – Product / Service
    • Exhibit 174: The Level Group S.r.l. – Key offerings
  • 12.17 The Swatch Group Ltd. 
    • Exhibit 175: The Swatch Group Ltd. – Overview
    • Exhibit 176: The Swatch Group Ltd. – Business segments
    • Exhibit 177: The Swatch Group Ltd. – Key offerings
    • Exhibit 178: The Swatch Group Ltd. – Segment focus

13 Appendix

  • 13.1 Scope of the report
  • 13.2 Inclusions and exclusions checklist 
    • Exhibit 179: Inclusions checklist
    • Exhibit 180: Exclusions checklist
  • 13.3 Currency conversion rates for US$ 
    • Exhibit 181: Currency conversion rates for US$
  • 13.4 Research methodology
    • Exhibit 182: Research methodology
    • Exhibit 183: Validation techniques employed for market sizing
    • Exhibit 184: Information sources
  • 13.5 List of abbreviations 
    • Exhibit 185: List of abbreviations

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SOURCE Technavio

Originally published at https://www.prnewswire.com/news-releases/personal-luxury-goods-market-size-to-grow-by-usd-42-43-billion-from-2022-to-2027–driven-by-the-increased-demand-for-premium-beauty-products-and-cosmetics—technavio-301785740.html
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