Luxury Goods Market: Worldwide Industry Analysis and New Market Opportunities Explored

According to a recent market research report published by Transparency Market Research, the global luxury goods market is estimated to expand at a CAGR of 3.4% between 2014 and 2020. The report, titled “Global Luxury Goods Market - Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2014 - 2020,” projects the global luxury goods market to reach US$374.85 bn by the end of 2020. The market stood at a US$296.1 bn in 2013.

The global luxury goods market offers a mix of both affordable and premium luxury goods. A rise in disposable incomes and increase in the number of high net worth individuals (HNIs) has propelled the demand for luxury goods. However, the growth of the market is dependent on various micro- and macro-economic factors such as currency devaluation.

The global luxury goods market is witnessing an increase in promotion of luxury products through various digital platforms. The market players are trying to tailor their offerings as per the cultural leanings of consumers across various regions.Depending on the product type, the report segments the global luxury goods market into apparel and leather goods, luxury watches and jewelry, wines/champagne and spirits, luxury personal care and cosmetics, fragrances, and others, including luxury pens and tableware.

Get A Brochure Of Report https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=573

In terms of revenue, the apparel and leather goods segment was the largest in 2013 and is expected to lead the market during the forecast period. The expanding travel retail is expected to boost the sales of products in the fragrances segment. In Latin America and Asia, higher demand for wines/champagne and spirits is anticipated owing to the proliferation of pubs and bars.

The report studies the luxury goods market across four key regions: Asia Pacific, North America, Europe, and Rest of the World. Europe was the leading luxury goods market in 2013, followed by North America. Factors such as profusion of duty-free shops and massive travel retail network propelled the growth of the Europe luxury goods market.

Get Sample Report https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=573

It has been observed that the per capita expenditure on capital goods in this region is declining considerably. This can be attributed to the economic crisis in the Eurozone. Consumers in North America are anticipated to continue spending money on absolute luxury goods during the forecast horizon. In the near future, Asia Pacific and Rest of the World are projected to register a significant growth in the luxury goods market owing to the growing awareness about the major fashion brands and the rise in disposable incomes. However, the lack of distribution channels and outlets in the emerging economies will restrict market growth.

Describing the competitive landscape, the report profiles some of the key players in the global luxury goods market such as Kering S.A., LVMH Group, Rolex S.A., Tiffany & Co., Revlon Inc., L’Oreal Group, Coty Inc., Prada S.p.A, The Swatch Group Ltd., Compagnie Financière Richemont S.A., Hermes International SCA, Burberry Group plc, Graff Diamonds, and Avon Products Inc.

Global luxury goods market has been segmented as:

Global Luxury Goods Market, by type

Luxury Watches & Jewelry
Apparels and Leather Goods
Luxury Personal Care & Cosmetics
Wines/Champagne and Spirits
Fragrances
Others (Tableware, Luxury Pens)

Light Weapons Market: Key Players and Production Information analysis with Forecast 2025

Light weapons are weapons which are used by two or three persons serving as a crew, although some of them may be carried and used by a single person. Light weapons are basically used by militaries around the world and its applications have increased widely among armed groups. They include, inter alia, heavy machine guns, hand-held under-barrel and mounted grenade launchers, portable anti-aircraft guns, portable anti-tank guns, recoilless rifles, portable launchers of anti-tank missile and rocket systems, portable launchers of anti-aircraft missile systems as well as mortars of a caliber of less than 100 millimeters. The latest generation of light weapons is more destructive, more portable, and generally more competent than older systems, raising concerns about their uncontrolled generation. Light weapons are represented by their durability, cost effectiveness, accessibility and utility. In terms of military and non-military demand, such criteria perfectly match the needs of those who...

Aerospace Window Frame Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast

Aerospace window frames are used in the cockpit windshields and passenger cabin windows to provide rigidity to the windows. Metal window frame is used widely in aircrafts. Increase demand of cockpit windshield frame in different countries such as India, Brazil and China among others is the one of the major factor boosting the market for aerospace window frame during the forecast period of 2017 – 2025. Based on aircraft type, the global aerospace window frame market is segmented into wide body aircraft, narrow body aircraft, very large aircraft, general aviation and regional aircraft. Among various aircraft types, in 2016, the wide body aircraft segment is estimated to be the major market followed by very large aircraft and expected to be the same during the forecast period of 2017 – 2025. Increasing regional and commercial aircraft deliveries is expected to be one of the major factor fueling the regional aircraft segment in global aerospace window frame market during the fo...

Digital Transformation Of Maritime Freight Market To Reach A Value Of ~US$ 38.4 Billion By 2027

According to a new report pertaining to the global digital transformation of maritime freight market published by Transparency Market Research, the global digital transformation of maritime freight market is projected to reach a value of ~ US$ 38.4 Bn by 2027. The market is projected to expand at a CAGR of ~ 10% from 2019 to 2027. Growth of the market can be attributed to increased importance and dependency on IT & digitization within the shipping industry. Over the forecast period, Asia Pacific is anticipated to grow rapidly in the digital transformation of maritime freight market, at a ~ 11% CAGR. In terms of share, the digital transformation of maritime freight market is dominated by North America, followed by Europe. In the digital transformation of maritime freight market, the software solution segment was valued at ~ US$ 15.3 Bn in 2017. Increased Importance and Dependency on IT & Digitization within the Shipping Industry IT an...

Research Blogs

Search This Blog