Personal Luxury Goods Market – Global Opportunities & Forecast, 2020-2027
Personal Luxury Goods Market
The Personal
Luxury Goods Market is projected to witness a healthy boom over the
forecast period. Accelerating population, rising per capita income, and
increasing adoption of luxurious goods are the major factors fuelling the
market growth.
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Report on Personal Luxury Goods
Market
Personal Luxury Goods Market Dynamics
Significant switch in the consumer’s choice towards quality
brands has encouraged producers to emphasis on innovation in order to cater the
growing demand of customers, which is a major factor fuelling the growth of Personal
Luxury Goods market. Also, as per the Personal
Luxury Goods market report, the rapid urbanization has increased
fashion awareness among consumers. Several exclusive brands are expanding their
product portfolio to offer customized products to the customers. In addition,
several organizations are focussing on enforcing various marketing strategies
to acquire a competitive advantage over other players. Thus, all these factors
will propel the personal luxury goods market size.
Further, accelerating per capita income and better living
standards of people has encouraged individuals to choose for luxurious goods.
However, the unstable prices of raw material and the increasing labour cost
will restrain the Personal Luxury Goods market growth.
Geographically, the Asia-Pacific region is likely to
dominate the overall market during the forecast period. The accelerating disposable
income has raised the expenditure on luxury goods and the rapid surge in
working women population across the Asian countries will drive the demand for
personal luxury goods. There has been a switch in the consumer’s preference for
personal luxury goods conjectured by the accelerating middle-class population,
which will propel the market growth.
Market
Segmentation
Personal
Luxury Goods Market by Product Type
·
Apparels
·
Accessories
·
Cosmetics & Fragrances
·
Hard Luxury
·
Others
Personal
Luxury Goods Market by Distribution Channel
·
Online Stores
·
Specialized Stores
·
Supermarket/Hypermarket
·
Others
Personal
Luxury Goods Market by Region:
·
Asia Pacific
o
China
o
Japan
o
India
o
Rest of APAC
·
North America
o
United States of America
o
Canada
·
Europe
o
United Kingdom
o
Germany
o
France
o
Spain
o
Rest of Europe
·
RoW
o
Brazil
o
South Africa
o
Saudi Arabia
o
UAE
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