Personal Luxury Goods Market Global Forecast Report 2024-2028: Surging Millennial Spending and Flourishing Second-Hand Personal Luxury Goods Market Drives Growth - A S$443.80 Billion Market by 2028

Dublin, Aug. 13, 2024 (GLOBE NEWSWIRE) -- The "Personal Luxury Goods Market by Product, Sales Channel, End-User & Region: Insights & Forecast (2024-2028)" report has been added to ResearchAndMarkets.com's offering.

The global personal luxury goods market is expected to record a value of US$443.80 billion in 2028, witnessing growth at a CAGR of 4.72% for the period spanning 2024-2028.

Factors such as growing client base, expansion of the tourism sector, rising income levels, rapid urbanization and escalating adoption of premium cosmetics, especially skincare products would drive the growth of the market.

However, the market growth would be challenged by rising input costs, growing counterfeiting trend and brand reputation. A few notable trends include surging millennial spending, upsurge in online sales, flourishing second-hand personal luxury goods market and integration of technology.

The global personal luxury goods market has been segmented on the basis of material product, sales channel and end-user. In terms of product, the global market can be bifurcated into Leather goods (including handbags, wallets, briefcases, luggage, and small leather goods such as credit card holders, notebook covers, or travel tags), watches & jewellery, beauty (encompassing skincare, hair care, makeup, fragrances, and hygiene products), apparel and other products such as shoes, luxury eyewear, etc. Whereas, according to sales channel, the market can be categorized into offline and online. Depending on end-user, the global personal luxury goods market can be split into women and men.

The fastest growing regional market was Asia Pacific due to rapid increase in women population across the Asian countries, growing popularity of aspirational luxury products among Millennials, surging number of high net worth individuals in the region along surging inclination of people towards fashion and lifestyle.

Scope of the Report

• The report provides a comprehensive analysis of the global personal luxury goods market, which is segmented into product, sales channel, end-user and region.
• The major regional markets (Asia Pacific, Americas, Europe and Rest of the World), along with the country coverage of China, Japan and the U.S. have been analyzed.
• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
• The competitive landscape of the market, along with the company profiles of leading players - LVMH Moet Hennessy Louis Vuitton, L'Oreal, Compagnie Financiere Richemont, Kering, Hermes International and Prada - are also presented in detail.

Key Attributes:

Key Topics Covered:

1. Overview
1.1 Introduction
1.2 The Major Luxury Fashion Product Divisions
1.3 Pyramid of Luxury
1.4 Brand Positioning of Personal Luxury Goods
1.5 Chief Characteristics of Luxury Products
1.6 Hierarchy of Luxury Products by their Accessibility
1.7 Necessary Steps in the Development of New Luxury Products
1.8 Key Considerations in Luxury Product Development

2. Impact of COVID-19
2.1 Decline in Luxury Product Sales
2.2 Weakened Consumer Spending
2.3 Regional Impact

3. Global Market Analysis
3.1 Global Personal Luxury Goods Market by Value
3.2 Global Personal Luxury Goods Market Forecast by Value
3.3 Global Personal Luxury Goods Market by Product
3.4 Global Personal Luxury Goods Market by Sales Channel
3.5 Global Personal Luxury Goods Markey by End User
3.6 Global Personal Luxury Goods Market by Region

4. Regional Market Analysis
4.1 Asia Pacific
4.2 Americas
4.3 Europe
4.4 Rest of the World

5. Market Dynamics
5.1 Growth Drivers
5.1.1 Growing Client Base
5.1.2 Expansion of Tourism Sector
5.1.3 Rising Income Levels
5.1.4 Rapid Urbanization
5.1.5 Escalating Adoption of Premium Cosmetics, Especially Skincare Products
5.2 Key Trends & Developments
5.2.1 Surging Millennial Spending
5.2.2 Upsurge in Online Sales
5.2.3 Flourishing Second-Hand Personal Luxury Goods Market
5.2.4 Integration of Technology
5.3 Challenges
5.3.1 Rising Input Costs
5.3.2 Growing Counterfeiting Trend
5.3.3 Brand Reputation

6. Competitive Landscape
6.1 Global Market
6.1.1 Global Personal Luxury Goods Market Share by Key Players

7. Company Profiles

• LVMH Moet Hennessy Louis Vuitton
• L'Oreal
• Compagnie Financiere Richemont
• Kering
• Hermes International
• Prada

For more information about this report visit https://www.researchandmarkets.com/r/54hxvk

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Attachment

• Global Personal Luxury Goods Market