Luxury Goods Market Size, Share, Trends, Industry Analysis Report: By Product, End User, Distribution Channel, and Region

Description

List of Tables

The global luxury goods market size is expected to reach USD 724.99 billion by 2034, according to a new study by Polaris Market Research. The report "Luxury Goods Market Size, Share, Trends, Industry Analysis Report: By Product (Apparels, Watches, Jewelry, Handbags, Perfumes & Cosmetics, Footwear, and Others), End User, Distribution Channel, and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Forecast, 2025-2034" gives a detailed insight into current market dynamics and provides analysis on future market growth.

Luxury goods are characterized by their exclusivity, superior quality, and craftsmanship. The market encompasses a wide range of products, including fashion apparel, accessories, jewelry, watches, fragrances, and cosmetics. The luxury goods market growth is attributed to rising disposable incomes, rapid urbanization and globalization, and the aspirational appeal of luxury brands. However, economic downturns, counterfeit products, and shifting consumer attitudes toward sustainability and ethical consumption may hinder market growth. Moreover, luxury brands such as Louis Vuitton, Gucci, Chanel, Rolex, and others have built their reputations on heritage, quality, and aspirational value, appealing to affluent consumers who seek status, prestige, and exceptional experiences.

The expanding base of high-net-worth individuals (HNWIs) in emerging economies, particularly in China, India, Southeast Asia, and the Middle East, is propelling the luxury goods market expansion. Luxury brands are strategically expanding their presence in these markets through flagship stores, localized marketing campaigns, and partnerships with regional influencers. Additionally, the easing of import restrictions and the growth of e-commerce have made luxury goods more accessible to consumers in these regions, further boosting sales.

The growth of e-commerce, social media, and augmented reality (AR) technologies has transformed how consumers discover, purchase, and engage with luxury brands. E-commerce platforms such as Farfetch, Net-a-Porter, and brand-owned online stores have made luxury shopping more convenient, especially for younger consumers who prefer digital interactions, leading to market expansion.

Luxury Goods Market Report Highlights

In terms of product, the apparel segment dominated the luxury goods market share in 2024 due to rising consumer interest in high-end fashion and the expanding influence of social media and celebrity endorsements.
Based on end user, the women segment dominated the market and is expected to continue its dominance throughout the projection period, owing to the strong demand for high-end fashion, beauty products, and accessories.
In the global market, Asia Pacific accounted for a major luxury goods market revenue share in 2024 due to China's expanding consumer base and rising disposable incomes.
The market in North America is estimated to grow at a rapid pace during the assessment period owing to the strong consumer spending, a robust e-commerce infrastructure, and high brand loyalty.
A few of the global key market players are Burberry Group PLC, Chanel, Coty Inc., Estee Lauder Companies Inc., Golden Goose, Hermes International S.A., Hugo Boss AG, Kering SA, L'Oreal S.A., Omega, Pandora Inc., PATEK PHILIPPE SA, Prada S.p.A., RALPH LAUREN, Richemont S.A., and Rolex SA.

Polaris Market Research has segmented the market report on the basis of product, end user, distribution channel, and region:

By Product Outlook (Revenue, USD Billion, 2020-2034)

Apparels
Watches
Jewelry
Handbags
Perfumes & Cosmetics
Footwear
Others

By End User Outlook (Revenue, USD Billion, 2020-2034)

Men
Women

By Distribution Channel Outlook (Revenue, USD Billion, 2020-2034)

Offline
Online

By Regional Outlook (Revenue, USD Billion, 2020-2034)

North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Netherlands
Russia
Rest of Europe
Asia Pacific
China
Japan
India
Malaysia
South Korea
Indonesia
Australia
Vietnam
Rest of Asia Pacific
Middle East & Africa
Saudi Arabia
UAE
Israel
South Africa
Rest of Middle East & Africa
Latin America
Mexico
Brazil
Argentina
Rest of Latin America

Product Code: PM5612

1. Introduction

1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
1.2. Stakeholders

2. Executive Summary

2.1. Market Highlights

3. Research Methodology

3.1. Overview
- 3.1.1. Data Mining
3.2. Data Source
- 3.2.1. Primary Source
- 3.2.2. Secondary Source

4. Global Silent Luxury Goods Market Insights

4.1. Silent Luxury Goods Market - Market Snapshot
4.2. Silent Luxury Goods Market Dynamics
- 4.2.1. Drivers and Opportunities
  - 4.2.1.1. Increasing Demand for Exclusivity and Rarity
  - 4.2.1.2. Celebrity Endorsements Influence Luxury Purchasing Decisions
- 4.2.2. Restraints and Challenges
  - 4.2.2.1. High production costs limiting mass-market accessibility.
4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
4.4. PESTEL Analysis
4.5. Silent Luxury Goods Market Trends
4.6. Value Chain Analysis

5. Global Silent Luxury Goods Market, by Product Type

5.1. Key Findings
5.2. Introduction
- 5.2.1. Global Silent Luxury Goods Market, by Product Type, 2020-2034 (USD Billion)
5.3. Watches & Jewellery
- 5.3.1. Global Silent Luxury Goods Market, by Watches & Jewellery, by Region, 2020-2034 (USD Billion)
5.4. Apparel
- 5.4.1. Global Silent Luxury Goods Market, by Apparel, by Region, 2020-2034 (USD Billion)
5.5. Leather Goods
- 5.5.1. Global Silent Luxury Goods Market, by Leather Goods, by Region, 2020-2034 (USD Billion)
5.6. Perfumes & Cosmetics
- 5.6.1. Global Silent Luxury Goods Market, by Perfumes & Cosmetics, by Region, 2020-2034 (USD Billion)
5.7. Others
- 5.7.1. Global Silent Luxury Goods Market, by Others, by Region, 2020-2034 (USD Billion)

6. Global Silent Luxury Goods Market, by End User

6.1. Key Findings
6.2. Introduction
- 6.2.1. Global Silent Luxury Goods Market, by End User, 2020-2034 (USD Billion)
6.3. Male
- 6.3.1. Global Silent Luxury Goods Market, by Male, by Region, 2020-2034 (USD Billion)
6.4. Female
- 6.4.1. Global Silent Luxury Goods Market, by Female, by Region, 2020-2034 (USD Billion)

7. Global Silent Luxury Goods Market, by Distribution Channel

7.1. Key Findings
7.2. Introduction
- 7.2.1. Global Silent Luxury Goods Market, by Distribution Channel, 2020-2034 (USD Billion)
7.3. Online
- 7.3.1. Global Silent Luxury Goods Market, by Online, by Region, 2020-2034 (USD Billion)
7.4. Offline
- 7.4.1. Global Silent Luxury Goods Market, by Offline, by Region, 2020-2034 (USD Billion)

8. Global Silent Luxury Goods Market, by Geography

8.1. Key Findings
8.2. Introduction
- 8.2.1. Silent Luxury Goods Market Assessment, By Geography, 2020-2034 (USD Billion)
8.3. Silent Luxury Goods Market - North America
- 8.3.1. North America: Silent Luxury Goods Market, by Product Type, 2020-2034 (USD Billion)
- 8.3.2. North America: Silent Luxury Goods Market, by End User, 2020-2034 (USD Billion)
- 8.3.3. North America: Silent Luxury Goods Market, by Distribution Channel, 2020-2034 (USD Billion)
- 8.3.4. Silent Luxury Goods Market - U.S.
  - 8.3.4.1. U.S.: Silent Luxury Goods Market, by Product Type, 2020-2034 (USD Billion)
  - 8.3.4.2. U.S.: Silent Luxury Goods Market, by End User, 2020-2034 (USD Billion)
  - 8.3.4.3. U.S.: Silent Luxury Goods Market, by Distribution Channel, 2020-2034 (USD Billion)
- 8.3.5. Silent Luxury Goods Market - Canada
  - 8.3.5.1. Canada: Silent Luxury Goods Market, by Product Type, 2020-2034 (USD Billion)
  - 8.3.5.2. Canada: Silent Luxury Goods Market, by End User, 2020-2034 (USD Billion)
  - 8.3.5.3. Canada: Silent Luxury Goods Market, by Distribution Channel, 2020-2034 (USD Billion)
8.4. Silent Luxury Goods Market - Europe
- 8.4.1. Europe: Silent Luxury Goods Market, by Product Type, 2020-2034 (USD Billion)
- 8.4.2. Europe: Silent Luxury Goods Market, by End User, 2020-2034 (USD Billion)
- 8.4.3. Europe: Silent Luxury Goods Market, by Distribution Channel, 2020-2034 (USD Billion)
- 8.4.4. Silent Luxury Goods Market - UK
  - 8.4.4.1. UK: Silent Luxury Goods Market, by Product Type, 2020-2034 (USD Billion)
  - 8.4.4.2. UK: Silent Luxury Goods Market, by End User, 2020-2034 (USD Billion)
  - 8.4.4.3. UK: Silent Luxury Goods Market, by Distribution Channel, 2020-2034 (USD Billion)
- 8.4.5. Silent Luxury Goods Market - France
  - 8.4.5.1. France: Silent Luxury Goods Market, by Product Type, 2020-2034 (USD Billion)
  - 8.4.5.2. France: Silent Luxury Goods Market, by End User, 2020-2034 (USD Billion)
  - 8.4.5.3. France: Silent Luxury Goods Market, by Distribution Channel, 2020-2034 (USD Billion)
- 8.4.6. Silent Luxury Goods Market - Germany
  - 8.4.6.1. Germany: Silent Luxury Goods Market, by Product Type, 2020-2034 (USD Billion)
  - 8.4.6.2. Germany: Silent Luxury Goods Market, by End User, 2020-2034 (USD Billion)
  - 8.4.6.3. Germany: Silent Luxury Goods Market, by Distribution Channel, 2020-2034 (USD Billion)
- 8.4.7. Silent Luxury Goods Market - Italy
  - 8.4.7.1. Italy: Silent Luxury Goods Market, by Product Type, 2020-2034 (USD Billion)
  - 8.4.7.2. Italy: Silent Luxury Goods Market, by End User, 2020-2034 (USD Billion)
  - 8.4.7.3. Italy: Silent Luxury Goods Market, by Distribution Channel, 2020-2034 (USD Billion)
- 8.4.8. Silent Luxury Goods Market - Spain
  - 8.4.8.1. Spain: Silent Luxury Goods Market, by Product Type, 2020-2034 (USD Billion)
  - 8.4.8.2. Spain: Silent Luxury Goods Market, by End User, 2020-2034 (USD Billion)
  - 8.4.8.3. Spain: Silent Luxury Goods Market, by Distribution Channel, 2020-2034 (USD Billion)
- 8.4.9. Silent Luxury Goods Market - Netherlands
  - 8.4.9.1. Netherlands: Silent Luxury Goods Market, by Product Type, 2020-2034 (USD Billion)
  - 8.4.9.2. Netherlands: Silent Luxury Goods Market, by End User, 2020-2034 (USD Billion)
  - 8.4.9.3. Netherlands: Silent Luxury Goods Market, by Distribution Channel, 2020-2034 (USD Billion)
- 8.4.10. Silent Luxury Goods Market - Russia
  - 8.4.10.1. Russia: Silent Luxury Goods Market, by Product Type, 2020-2034 (USD Billion)
  - 8.4.10.2. Russia: Silent Luxury Goods Market, by End User, 2020-2034 (USD Billion)
  - 8.4.10.3. Russia: Silent Luxury Goods Market, by Distribution Channel, 2020-2034 (USD Billion)
- 8.4.11. Silent Luxury Goods Market - Rest of Europe
  - 8.4.11.1. Rest of Europe: Silent Luxury Goods Market, by Product Type, 2020-2034 (USD Billion)
  - 8.4.11.2. Rest of Europe: Silent Luxury Goods Market, by End User, 2020-2034 (USD Billion)
  - 8.4.11.3. Rest of Europe: Silent Luxury Goods Market, by Distribution Channel, 2020-2034 (USD Billion)
8.5. Silent Luxury Goods Market - Asia Pacific
- 8.5.1. Asia Pacific: Silent Luxury Goods Market, by Product Type, 2020-2034 (USD Billion)
- 8.5.2. Asia Pacific: Silent Luxury Goods Market, by End User, 2020-2034 (USD Billion)
- 8.5.3. Asia Pacific: Silent Luxury Goods Market, by Distribution Channel, 2020-2034 (USD Billion)
- 8.5.4. Silent Luxury Goods Market - China
  - 8.5.4.1. China: Silent Luxury Goods Market, by Product Type, 2020-2034 (USD Billion)
  - 8.5.4.2. China: Silent Luxury Goods Market, by End User, 2020-2034 (USD Billion)
  - 8.5.4.3. China: Silent Luxury Goods Market, by Distribution Channel, 2020-2034 (USD Billion)
- 8.5.5. Silent Luxury Goods Market - India
  - 8.5.5.1. India: Silent Luxury Goods Market, by Product Type, 2020-2034 (USD Billion)
  - 8.5.5.2. India: Silent Luxury Goods Market, by End User, 2020-2034 (USD Billion)
  - 8.5.5.3. India: Silent Luxury Goods Market, by Distribution Channel, 2020-2034 (USD Billion)
- 8.5.6. Silent Luxury Goods Market - Malaysia
  - 8.5.6.1. Malaysia: Silent Luxury Goods Market, by Product Type, 2020-2034 (USD Billion)
  - 8.5.6.2. Malaysia: Silent Luxury Goods Market, by End User, 2020-2034 (USD Billion)
  - 8.5.6.3. Malaysia: Silent Luxury Goods Market, by Distribution Channel, 2020-2034 (USD Billion)
- 8.5.7. Silent Luxury Goods Market - Japan
  - 8.5.7.1. Japan: Silent Luxury Goods Market, by Product Type, 2020-2034 (USD Billion)
  - 8.5.7.2. Japan: Silent Luxury Goods Market, by End User, 2020-2034 (USD Billion)
  - 8.5.7.3. Japan: Silent Luxury Goods Market, by Distribution Channel, 2020-2034 (USD Billion)
- 8.5.8. Silent Luxury Goods Market - Indonesia
  - 8.5.8.1. Indonesia: Silent Luxury Goods Market, by Product Type, 2020-2034 (USD Billion)
  - 8.5.8.2. Indonesia: Silent Luxury Goods Market, by End User, 2020-2034 (USD Billion)
  - 8.5.8.3. Indonesia: Silent Luxury Goods Market, by Distribution Channel, 2020-2034 (USD Billion)
- 8.5.9. Silent Luxury Goods Market - South Korea
  - 8.5.9.1. South Korea: Silent Luxury Goods Market, by Product Type, 2020-2034 (USD Billion)
  - 8.5.9.2. South Korea: Silent Luxury Goods Market, by End User, 2020-2034 (USD Billion)
  - 8.5.9.3. South Korea: Silent Luxury Goods Market, by Distribution Channel, 2020-2034 (USD Billion)
- 8.5.10. Silent Luxury Goods Market - Australia
  - 8.5.10.1. Australia: Silent Luxury Goods Market, by Product Type, 2020-2034 (USD Billion)
  - 8.5.10.2. Australia: Silent Luxury Goods Market, by End User, 2020-2034 (USD Billion)
  - 8.5.10.3. Australia: Silent Luxury Goods Market, by Distribution Channel, 2020-2034 (USD Billion)
- 8.5.11. Silent Luxury Goods Market - Rest of Asia Pacific
  - 8.5.11.1. Rest of Asia Pacific: Silent Luxury Goods Market, by Product Type, 2020-2034 (USD Billion)
  - 8.5.11.2. Rest of Asia Pacific: Silent Luxury Goods Market, by End User, 2020-2034 (USD Billion)
  - 8.5.11.3. Rest of Asia Pacific: Silent Luxury Goods Market, by Distribution Channel, 2020-2034 (USD Billion)
8.6. Silent Luxury Goods Market - Middle East & Africa
- 8.6.1. Middle East & Africa: Silent Luxury Goods Market, by Product Type, 2020-2034 (USD Billion)
- 8.6.2. Middle East & Africa: Silent Luxury Goods Market, by End User, 2020-2034 (USD Billion)
- 8.6.3. Middle East & Africa: Silent Luxury Goods Market, by Distribution Channel, 2020-2034 (USD Billion)
- 8.6.4. Silent Luxury Goods Market - Saudi Arabia
  - 8.6.4.1. Saudi Arabia: Silent Luxury Goods Market, by Product Type, 2020-2034 (USD Billion)
  - 8.6.4.2. Saudi Arabia: Silent Luxury Goods Market, by End User, 2020-2034 (USD Billion)
  - 8.6.4.3. Saudi Arabia: Silent Luxury Goods Market, by Distribution Channel, 2020-2034 (USD Billion)
- 8.6.5. Silent Luxury Goods Market - UAE
  - 8.6.5.1. UAE: Silent Luxury Goods Market, by Product Type, 2020-2034 (USD Billion)
  - 8.6.5.2. UAE: Silent Luxury Goods Market, by End User, 2020-2034 (USD Billion)
  - 8.6.5.3. UAE: Silent Luxury Goods Market, by Distribution Channel, 2020-2034 (USD Billion)
- 8.6.6. Silent Luxury Goods Market - Israel
  - 8.6.6.1. Israel: Silent Luxury Goods Market, by Product Type, 2020-2034 (USD Billion)
  - 8.6.6.2. Israel: Silent Luxury Goods Market, by End User, 2020-2034 (USD Billion)
  - 8.6.6.3. Israel: Silent Luxury Goods Market, by Distribution Channel, 2020-2034 (USD Billion)
- 8.6.7. Silent Luxury Goods Market - South Africa
  - 8.6.7.1. South Africa: Silent Luxury Goods Market, by Product Type, 2020-2034 (USD Billion)
  - 8.6.7.2. South Africa: Silent Luxury Goods Market, by End User, 2020-2034 (USD Billion)
  - 8.6.7.3. South Africa: Silent Luxury Goods Market, by Distribution Channel, 2020-2034 (USD Billion)
- 8.6.8. Silent Luxury Goods Market - Rest of Middle East & Africa
  - 8.6.8.1. Rest of Middle East & Africa: Silent Luxury Goods Market, by Product Type, 2020-2034 (USD Billion)
  - 8.6.8.2. Rest of Middle East & Africa: Silent Luxury Goods Market, by End User, 2020-2034 (USD Billion)
  - 8.6.8.3. Rest of Middle East & Africa: Silent Luxury Goods Market, by Distribution Channel, 2020-2034 (USD Billion)
8.7. Silent Luxury Goods Market - Latin America
- 8.7.1. Latin America: Silent Luxury Goods Market, by Product Type, 2020-2034 (USD Billion)
- 8.7.2. Latin America: Silent Luxury Goods Market, by End User, 2020-2034 (USD Billion)
- 8.7.3. Latin America: Silent Luxury Goods Market, by Distribution Channel, 2020-2034 (USD Billion)
- 8.7.4. Silent Luxury Goods Market - Mexico
  - 8.7.4.1. Mexico: Silent Luxury Goods Market, by Product Type, 2020-2034 (USD Billion)
  - 8.7.4.2. Mexico: Silent Luxury Goods Market, by End User, 2020-2034 (USD Billion)
  - 8.7.4.3. Mexico: Silent Luxury Goods Market, by Distribution Channel, 2020-2034 (USD Billion)
- 8.7.5. Silent Luxury Goods Market - Brazil
  - 8.7.5.1. Brazil: Silent Luxury Goods Market, by Product Type, 2020-2034 (USD Billion)
  - 8.7.5.2. Brazil: Silent Luxury Goods Market, by End User, 2020-2034 (USD Billion)
  - 8.7.5.3. Brazil: Silent Luxury Goods Market, by Distribution Channel, 2020-2034 (USD Billion)
- 8.7.6. Silent Luxury Goods Market - Argentina
  - 8.7.6.1. Argentina: Silent Luxury Goods Market, by Product Type, 2020-2034 (USD Billion)
  - 8.7.6.2. Argentina: Silent Luxury Goods Market, by End User, 2020-2034 (USD Billion)
  - 8.7.6.3. Argentina: Silent Luxury Goods Market, by Distribution Channel, 2020-2034 (USD Billion)
- 8.7.7. Silent Luxury Goods Market - Rest of Latin America
  - 8.7.7.1. Rest of Latin America: Silent Luxury Goods Market, by Product Type, 2020-2034 (USD Billion)
  - 8.7.7.2. Rest of Latin America: Silent Luxury Goods Market, by End User, 2020-2034 (USD Billion)
  - 8.7.7.3. Rest of Latin America: Silent Luxury Goods Market, by Distribution Channel, 2020-2034 (USD Billion)

9. Competitive Landscape

9.1. Expansion and Acquisition Analysis
- 9.1.1. Expansion
- 9.1.2. Acquisitions
9.2. Partnerships/Collaborations/Agreements/Exhibitions

10. Company Profiles

10.1. Burberry Group PLC
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Product Benchmarking
- 10.1.4. Recent Development
10.2. Chanel LTD
- 10.2.1. Company Overview
- 10.2.2. Financial Performance
- 10.2.3. Product Benchmarking
- 10.2.4. Recent Development
10.3. Estee Lauder Companies Inc.
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Product Benchmarking
- 10.3.4. Recent Development
10.4. Hermes International
- 10.4.1. Company Overview
- 10.4.2. Financial Performance
- 10.4.3. Product Benchmarking
- 10.4.4. Recent Development
10.5. Inditex
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Product Benchmarking
- 10.5.4. Recent Development
10.6. Kering SA
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Product Benchmarking
- 10.6.4. Recent Development
10.7. LVMH Group
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Product Benchmarking
- 10.7.4. Recent Development
10.8. Max Mara S.r.l.
- 10.8.1. Company Overview
- 10.8.2. Financial Performance
- 10.8.3. Product Benchmarking
- 10.8.4. Recent Development
10.9. Prada S.p.A
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Product Benchmarking
- 10.9.4. Recent Development
10.10. Ralph Lauren
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Product Benchmarking
- 10.10.4. Recent Development