Luxury Goods Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Luxury Goods Market Report and It is Segmented by Type (Clothing and Apparel, Footwear, Bags, Jewelry, Watches, and Other Types); by Distribution Channels (Single-Branded Stores, Multi-Brand Stores, Online Stores, and Other Distribution Channels); and by Geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). The Report Offers the Market Size in Value Terms in USD for all the Abovementioned Segments.

Luxury Goods Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Luxury Goods Market Size

Luxury Goods Market Summary
Study Period 2019 - 2030
Market Size (2025) USD 1.04 Trillion
Market Size (2030) USD 1.37 Trillion
CAGR (2025 - 2030) 5.50 %
Fastest Growing Market North America
Largest Market Asia Pacific
Market Concentration Low

Major Players

Luxury Goods Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Luxury Goods Market with other markets in Consumer Goods and Services Industry

Apparel, Footwear & Accessories

Luxury Goods & Services

Recreational Goods

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Beauty and Personal Care

Consumer Services

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Luxury Goods Market Analysis

The Luxury Goods Market size is estimated at USD 1.04 trillion in 2025, and is expected to reach USD 1.37 trillion by 2030, at a CAGR of 5.5% during the forecast period (2025-2030).

Luxury goods serve as symbols of success, status, and prestige, attracting consumers eager to showcase their socio-economic standing. Emerging markets, notably China, India, and Southeast Asia have experienced rapid economic growth, leading to a burgeoning affluent middle class and an increasing number of high-net-worth individuals (HNWIs). This economic shift has significantly boosted spending on luxury goods. Besides, the advent of e-commerce and digital channels has broadened access to luxury goods, allowing consumers to explore, purchase, and engage with brands online. Social media platforms, including Instagram, TikTok, and YouTube, have emerged as powerful tools for luxury brands, enabling them to connect with younger audiences and highlight the aspirational nature of their products through influencers and brand ambassadors.

Moreover, the luxury market is transforming, with experiential luxury taking center stage. This shift is predominantly driven by millennials and Gen Z, who value experiences over mere possessions. Being digital natives, they not only engage actively with brands online but also seek personalized experiences, fueling market growth. Data from the US Census Bureau highlights that in 2023, Millennials constituted approximately 21.71% of the U.S. population, while Gen Z made up around 20.69%, underlining the demand for luxury goods among this demographic.

Furthermore, handbags are projected to be the leading segment in the luxury goods market. Responding to this demand, key market players are launching innovative premium luxury products. For instance, in February 2024, American ready-to-wear brand Veronica Beard launched its first collection of luxury handbags, globally. The new collection includes a goody bag, tote bags, bucket bags, and camera bags in leather and made available at VeronicaBeard.com and Veronica Beard boutiques located in New York, Miami, Beverly Hills, and London, as well as select retailers. Given these dynamics, the luxury goods market is poised for positive growth in the coming years.

Luxury Goods Industry Overview

The global luxury goods market is highly fragmented with many international and domestic players competing for the market share. The market concentration is attributed to the presence of multinational conglomerates that own a portfolio of prestigious luxury brands. Some of the key players in the market include LVMH Moet Hennessy Louis Vuitton, Compagnie Financiere Richemont SA, Hermès International S.A., Rolex SA, and Kering S.A. Also, key players are embarking on mergers and acquisitions, and entering into partnerships /agreements as one of their key strategies to achieve consolidation and optimize their offerings. Furthermore, these companies are ramping up investments in R&D and marketing, broadening their distribution networks, and diversifying product lines.

Luxury Goods Market Leaders

  1. LVMH Moet Henessy Louis Vuitton

  2. Hermès International S.A.

  3. Rolex SA

  4. Kering S.A

  5. Compagnie Financiere Richemont SA

  6. *Disclaimer: Major Players sorted in no particular order
Luxury Goods Market Concentration
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Luxury Goods Market News

  • July 2024: Kering SA, through its brand, Gucci, launched a new interlocking watch collection run by automatic and quartz movements. As per the brand's claim, the latest collection has three chronograph models in black (Ref. ‎796785 I18B0 9065), blue (Ref. ‎796849 I18B0 8605), and green (Ref. 796851 I18B0 8512).
  • April 2024: Hermès International SA expanded its portfolio with the launch of 'The Cut,’ a sports watch for women. The company claims the new watch comes in steel or two-tone steel and rose, with or without diamonds, and a bracelet or rubber strap.
  • March 2024: Rolex SA launched a new watch called Day-Date 40 in Everose Gold for the 2024 Academy Awards. It is a soft-launched special edition for the 2024 Academy Awards with what the brand describes as an ombré slate dial in 18-k Everose.
  • February 2024: LVMH's brand, Louis Vuitton has launched a special capsule collection named "LV Mirage", specifically designed for the Middle East region. The new LV Mirage capsule collection centers on time-honored occasions and togetherness and includes luxury ready-to-wear, leather goods, accessories, shoes, and more.

Luxury Goods Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions & Market Definition
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1 Market Drivers
    • 4.1.1 Aggressive Marketing and Advertising by Brands
    • 4.1.2 Strategic Investments and Initiatives Fuel Market Expansion
  • 4.2 Market Restraints
    • 4.2.1 The Rise of Counterfeit Goods May Limit the Growth
  • 4.3 Porter's Five Forces Analysis
    • 4.3.1 Bargaining Power of Suppliers
    • 4.3.2 Bargaining Power of Buyers/Consumers
    • 4.3.3 Threat of New Entrants
    • 4.3.4 Threat of Substitute Products
    • 4.3.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION

  • 5.1 By Type
    • 5.1.1 Clothing and Apparel
    • 5.1.2 Footwear
    • 5.1.3 Bags
    • 5.1.4 Jewelry
    • 5.1.5 Watches
    • 5.1.6 Other Types
  • 5.2 By Distribution Channel
    • 5.2.1 Single-Branded Stores
    • 5.2.2 Multi-branded Stores
    • 5.2.3 Online Retail Stores
    • 5.2.4 Other Distribution Channels
  • 5.3 Geography
    • 5.3.1 North America
    • 5.3.1.1 United States
    • 5.3.1.2 Canada
    • 5.3.1.3 Mexico
    • 5.3.1.4 Rest of North America
    • 5.3.2 Europe
    • 5.3.2.1 Germany
    • 5.3.2.2 United Kingdom
    • 5.3.2.3 France
    • 5.3.2.4 Italy
    • 5.3.2.5 Spain
    • 5.3.2.6 Russia
    • 5.3.2.7 Rest of Europe
    • 5.3.3 Asia-Pacific
    • 5.3.3.1 China
    • 5.3.3.2 Japan
    • 5.3.3.3 India
    • 5.3.3.4 Australia
    • 5.3.3.5 Rest of Asia-Pacific
    • 5.3.4 South America
    • 5.3.4.1 Brazil
    • 5.3.4.2 Argentina
    • 5.3.4.3 Rest of South America
    • 5.3.5 Middle-East and Africa
    • 5.3.5.1 United Arab Emirates
    • 5.3.5.2 South Africa
    • 5.3.5.3 Rest of Middle East & Africa

6. COMPETITIVE LANDSCAPE

  • 6.1 Strategies Adopted by Leading Players
  • 6.2 Market Share Analysis
  • 6.3 Company Profiles
    • 6.3.1 LVMH Moet Henessy Louis Vuitton
    • 6.3.2 Giorgio Armani S.p.A.
    • 6.3.3 Kering S.A.
    • 6.3.4 Hermès International S.A.
    • 6.3.5 Prada S.p.A.
    • 6.3.6 Rolex SA
    • 6.3.7 Compagnie Financiere Richemont SA
    • 6.3.8 Chanel S.A.
    • 6.3.9 Burberry Group PLC
    • 6.3.10 Capri Holdings Limited
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Luxury Goods Industry Segmentation

Luxury goods, by definition, are premium products that command higher prices than their counterparts in the market. Customers are willing to pay these elevated prices due to the products' distinct selling points and strong brand associations. Also, luxury goods are high-quality, exclusive, and often expensive products or services associated with prestige, social status, and superior craftsmanship.

The Global Luxury Goods Market is segmented by type, distribution channel, and geography. By type, the market is segmented into clothing and apparel, footwear, bags, jewelry, watches, and other types. By distribution channels, the market is segmented into single-branded stores, multi-brand stores, online stores, and other distribution channels. By geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East and Africa. The market sizing has been done in value terms in USD for all the abovementioned segments.

By Type Clothing and Apparel
Footwear
Bags
Jewelry
Watches
Other Types
By Distribution Channel Single-Branded Stores
Multi-branded Stores
Online Retail Stores
Other Distribution Channels
Geography North America United States
Canada
Mexico
Rest of North America
Europe Germany
United Kingdom
France
Italy
Spain
Russia
Rest of Europe
Asia-Pacific China
Japan
India
Australia
Rest of Asia-Pacific
South America Brazil
Argentina
Rest of South America
Middle-East and Africa United Arab Emirates
South Africa
Rest of Middle East & Africa
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Luxury Goods Market Research FAQs

How big is the Luxury Goods Market?

The Luxury Goods Market size is expected to reach USD 1.04 trillion in 2025 and grow at a CAGR of 5.5% to reach USD 1.37 trillion by 2030.

What is the current Luxury Goods Market size?

In 2025, the Luxury Goods Market size is expected to reach USD 1.04 trillion.

Who are the key players in Luxury Goods Market?

LVMH Moet Henessy Louis Vuitton, Hermès International S.A., Rolex SA, Kering S.A and Compagnie Financiere Richemont SA are the major companies operating in the Luxury Goods Market.

Which is the fastest growing region in Luxury Goods Market?

North America is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Luxury Goods Market?

In 2025, the Asia Pacific accounts for the largest market share in Luxury Goods Market.

What years does this Luxury Goods Market cover, and what was the market size in 2024?

In 2024, the Luxury Goods Market size was estimated at USD 0.98 trillion. The report covers the Luxury Goods Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Luxury Goods Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Luxury Goods Industry Report

Statistics for the 2025 Luxury Goods market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Luxury Goods analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.