Luxury Goods Market to Reach US$374.85 billion by 2020, Demand from Developed Economies to Increase Valuation of Global Industry

According to a recent market research report published by Transparency Market Research, the global luxury goods market is expected to develop at a moderate CAGR of 3.4% during the period between 2014 and 2020. The report, titled “Global Luxury Goods Market - Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2014 – 2020”, estimates the market to reach a valuation of US$374.85 billion by 2020. The overall market was worth US$296.1 billion in 2013.

Browse Report: http://www.transparencymarketresearch.com/luxury-goods-market.html

The report indicates that the increase in disposable income has significantly contributed towards the growth of the global luxury goods market, especially in the developed economies. Though consumers in the emerging economies are increasingly becoming aware of the luxury goods, inadequate number of outlets and channels has restricted the market from expanding in the developing nations. The report further mentions that the uncertain economic scenarios, coupled with currency devaluation, will negatively impact the market.

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On the basis of product types, the report segments the global luxury goods market into apparels and leather goods, luxury watches and jewelry, wines/ champagne and spirits, luxury personal care and cosmetics, fragrances, and others. In 2013, apparel and leather goods segment was the largest and is expected to dominate the market during the forecast horizon. During 2014-2020 the market is likely to witness an increase in the sales of products in segments including fragrances segment, wine/champagnes, and spirits owing to the rising demand from Latin America and Asia.

Browse Press Release: http://www.transparencymarketresearch.com/pressrelease/luxury-goods-market.htm

The report studies the global luxury goods market across four key regions: Asia Pacific, Europe, North America, and Rest of the World. In 2013, Europe was the largest market for luxury goods due to the presence of extensive travel retail network and duty-free shops.

Browse Article: http://www.transparencymarketresearch.com/article/luxury-goods-market.htm
Browse Blog: http://www.tmrblog.com/2015/08/global-luxury-goods-market.html

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information. TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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This release was published on openPR.