According to Goldstein Research, global luxury goods market is expected to reach USD 295.7 billion by the end of 2024 from USD 214.5 billion in 2015, growing at a CAGR of 4.0%. Rising statistics of high net worth income (HNWI) people and rising travel and tourism industry are driving the growth in the total supply of luxury goods across the globe. Global luxury goods market segmentation has been done on the basis of product type, distribution channel and geography. Luxury goods market has been experiencing growth in recent years after the major vendors extended their distribution channel in new territories and at duty-free outlets, attracting the. Global luxury goods market is dominated by North America market share with 34% in total revenue from luxury goods market. North America is closely followed by Europe, with Germany being the major player. Asia-Pacific acquires the third position in global luxury goods market share and India being the most prospecting country in the region.

Market Segmentation
On the basis of our in-depth analysis, Global Luxury Goods Market can be segmented as follows:

• By Product Type

o Designer Apparel and footwear
o Accessories
o Luxury Jewelry
o Cosmetic and Beauty Products
o Fine Wine & Spirits
o Others (Electric gadgets, etc)

• On the basis of Distribution Channel

o Online Channels
o Offline Channels (wholesaler, retailers, Agents, etc. )

• On the basis of region

o North America (US, Canada) {Market Share (%), Market Size (USD Billion, Adoption Rate (%)}
o Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
o The Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of the Middle East & Africa) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
o Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
o Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
o Rest of the World {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}

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“Global Luxury Goods Market Outlook 2024” contains a detailed overview of the global luxury goods market. On the basis of our in-depth analysis, a market can be segmented in terms of market segmentation by product type and by distribution channel.

Further, for the in-depth analysis, Global Luxury Goods Market Report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This market report also includes competitive outlook of some of the major players profiling of companies such as LVMH, Luxottica Group, Kering SA, The Swatch Group Ltd., Ralph Lauren Corporation, Hermes International Group, L'Oreal Luxe, Rolex SA, Prada Group, Burberry Group plc, etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.

Overall, the report represents the global luxury goods market trends along with a market forecast that will help industry consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.

Browse full Report @ https://www.goldsteinresearch.com/report/luxury-goods-market-outlook-2024-global-opportunity-and-demand-analysis-market-forecast-2016-2024

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