Global Luxury Goods Market Expected to USD$ 383.6 Billion By 2020

Date: 2016-09-17

Global Luxury Goods market is Expected from $316.8 billion in 2015 to $383.6 billion in 2020, at a Compound Annual Growth Rate (CAGR) of 3.9%.

The growth of the global luxury goods market was robust in the four-year period following the 2008 global economic recession. However, growth showed signs of deceleration in 2013 and was moderate in 2014. The report notes that through the forecast period, 2014-2010, much of the growth seen in the global luxury goods market will come from the emerging countries. Countries that luxury goods brands are recommended to focus on include: UAE, Egypt, Saudi Arabia, Malaysia, Singapore, India, Thailand, South Africa, Brazil, Indonesia, and Vietnam.

The market in developed regions is already matured and is witnessing sluggish growth while the developing regions are expected to witness consistent growth in the hydrocarbon solvents market.

Luxury-goods demand increased in all markets, The Americas, which accounts for roughly a third of the total market, were according to Bain the undisputed growth driver in 2014, delivering 6% growth. The growth could have been higher, had it not been that North America was hit by a harsh winter. Despite persistent economic challenges and socio-political tensions in Russia and Ukraine, Europe managed to book a 2% growth, although a large share can be attributed to on-the-ground consumption by tourists. Japan performed the best (+10%), while luxury spend in China for the first time showed a negative trend (-1%).

According to survey, the region of Luxury Goods market share as following:
Read Full Report: Goods-industry-2015-market-research-report/ 

Joanna | Executive – International Business and partner Relations
E-mail: | Tel: 1-510-400-8520


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