Global Luxury Goods Market

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Transparency Market

Research

Luxury Goods Market Branching out of Historical

Strongholds; APAC, Latin America Beckon

Published Date

2014-10-27

42 Page Report

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Press Release

Global Luxury Goods Market to Bank on Rising Number of

High Net-worth Individuals to Grow at a CAGR of 3.40% from

2014 to 2020

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Luxury Goods

REPORT DESCRIPTION

Global Luxury Goods Market - Industry Analysis, Size, Share, Growth, Trends,

and Forecast 2014 – 2020

A new research report published by Transparency market Research on the global luxury goods

market states that the rising number of high net-worth individuals across the globe will drive this

market despite the economic turbulence. According to the market research report, titled “Global

Luxury Goods Market - Industry Analysis, Size, Share, Growth, Trends, and Forecast,

2014 - 2020”, the global luxury goods market is expected to grow at a CAGR of 3.40% from

2014 to 2020.

Despite economic turbulence in developed markets and currency devaluation in emerging

markets, growth of luxury goods is projected to remain positive over the forecast period. The

global market for luxury goods was valued at USD 296.15 billion in 2013 and is expected to reach

USD 374.85 billion in 2020, growing at a CAGR of 3.4% from 2014 to 2020. The overall market is

expected to demonstrate healthy growth during the forecast period due to increase in the

number of high net-worth individuals worldwide, and resilient economy of some of the major

developed markets.

The demand for luxury goods is increasing globally due to the superior standards of living in

developing countries. Moreover, increasing use of innovative marketing campaigns and activities

through digital media platforms in the travel retail industry are...