Personal Luxury Goods Market: Opportunities and Forecast Assessment, 2019–2026

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About Personal Luxury Goods Market

Luxury items which are used for personal use are known as a personal luxury good. Luxury goods refer to products that are not essential but are highly desired and mostly preferred by wealthy people. The definition of luxury can vary based on different individuals’ perceptions about products that can give them comfort and satisfaction. Luxury is defined as the high quality and high value attached to specific products.

The significant factors contributing to the growth of the global personal luxury goods market include growing disposable income and increasing the middle-class population, especially in developing countries such as India and China. Additionally, rising penetration of smartphones and the internet, coupled with increasing online sales, are some other factors boosting the growth of personal luxury goods market size in the upcoming years. Furthermore, rising consumer preference for premium skincare products owing to its high-quality ingredients and growing consumer awareness regarding skin-related issues such as acne, pigmentation, and spots are surging the demand of high-quality skincare products in the market, thus accelerating the growth of the personal luxury goods market share in terms of revenue.

Competitive Landscape

The notable players in the personal luxury goods market include L’Oréal S.A., The Swatch Group Ltd., Tiffany & Co., Kering, Prada S.p.A., LVMH, Estee Lauder Companies, Breitling S.A., Richemont, Giorgio Armani S.p.A., and Breitling S.A., among others.

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Market Segmentation

Personal Luxury Goods Market by Product:

• Accessories
• Apparel
• Hard luxury
• Cosmetics
• Others

Personal Luxury Goods Market by Distribution Channel:

• Specialty Retailers
• Department Stores
• Supermarkets & Hypermarkets
• Others

Personal Luxury Goods Market by Region:

• North America
  • United States of America
  • Canada

• Asia Pacific
  • China
  • Japan
  • India
  • Rest of APAC

• Europe
  • United Kingdom
  • Germany
  • France
  • Spain
  • Rest of Europe

• RoW
  • Brazil
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of the world (remaining countries of the LAMEA region)

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