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Germany Luxury Goods Market Size, Share, Trends, Analysis: By Product Type: Watches and Jewellery, Perfumes and Cosmetics, Clothing, Bags/Purse, Others; By End Use: Women, Men; By Distribution Channel: Offline, Online; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032
Germany Luxury Goods Market Size
The Germany luxury goods market reached approximately USD 16.87 billion in 2023. The market is projected to grow at a CAGR of 4.20% between 2024 and 2032, reaching a value of around USD 24.43 billion by 2032.
Germany Luxury Goods Market Outlook
- As per the industry reports, the online sales channel is expected to become the country's primary sales channel for luxury goods by 2025.
- Baden-Württemberg, Bavaria, Hamburg, and Hesse are the regions with the highest purchasing power, promoting the growth of luxury goods in these areas.
- With the establishment of Meisterkreis, a network for luxury goods and craftsmanship, the luxury goods sector in Germany witnessed an upward trend.
Germany Luxury Goods Market Growth
The rise in disposable income, the growing visits by high-net tourists, and the presence of a large number of luxurious brands are some of the prominent market drivers. Germany is home to many luxury brands that are famous worldwide for their renewed history, top-notch quality, and exceptional craftsmanship, attracting consumers looking for high-end products.
The increased availability of luxury goods to a large customer base has been made possible by the growth of online shopping platforms and the digitalisation of the retail sector. Luxury brands are now adopting omnichannel strategies to provide a cohesive shopping experience that combines both online and offline channels.
The trend towards sustainable and ethical consumption is growing, with consumers showing a preference for luxury brands that prioritise sustainability and social responsibility. There is also a rising demand for personalised and customised luxury items in the country, with consumers willing to pay more for unique, tailor-made products.
Germany Luxury Goods Industry Segmentation
“Germany Luxury Goods Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Product Type
- Watches and Jewellery
- Perfumes and Cosmetics
- Clothing
- Bags/Purse
- Others
Market Breakup by End Use
- Women
- Men
Market Breakup by Distribution Channel
- Offline
- Online
Market Breakup by Region
- North Rhine-Westphalia
- Bavaria
- Baden-Württemberg
Germany Luxury Goods Market Share
Based on product type, the market is divided into watches and jewellery, perfumes and cosmetics, clothing, and bags/purse, among others. Watches and jewellery account for a substantial market share in Germany as affluent customers and high-end clients are eager to invest heavily in timepieces and accessories as a way to showcase their social status, as these items are commonly viewed as symbols of wealth, status, and refinement. Germany is also home to renowned watch and jewellery brands known for their outstanding craftsmanship, precision, and rich history, aiding the market share.
Leading Companies in the Germany Luxury Goods Market
The market players are readily launching new collections with innovative designs to gain a competitive edge in the market.
- Chanel Limited
- Kering SA
- Rolex SA
- Giorgio Armani S.p.A.
- Ralph Lauren Corporation
- Hermès International S.A.
- Prada SpA
- VALENTINO S.p.A.
- Tiffany & Co.
- Estee Lauder Inc.
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product Type |
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| Breakup by End Use |
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| Breakup by Distribution Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Europe Luxury Goods Market Overview
8.1 Key Industry Highlights
8.2 Europe Luxury Goods Historical Market (2018-2023)
8.3 Europe Luxury Goods Market Forecast (2024-2032)
9 Germany Luxury Goods Market Overview
9.1 Key Industry Highlights
9.2 Germany Luxury Goods Historical Market (2018-2023)
9.3 Germany Luxury Goods Market Forecast (2024-2032)
10 Germany Luxury Goods Market by Product Type
10.1 Watches and Jewellery
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Perfumes and Cosmetics
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Clothing
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Bags/Purse
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Germany Luxury Goods Market by End Use
11.1 Women
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Men
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 Germany Luxury Goods Market by Distribution Channel
12.1 Offline
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Online
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
13 Germany Luxury Goods Market by Region
13.1 North Rhine-Westphalia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Bavaria
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Baden-Württemberg
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators of Demand
14.4 Key Indicators of Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Chanel Limited
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Kering SA
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Rolex SA
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Giorgio Armani S.p.A.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Ralph Lauren Corporation
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Hermès International S.A.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Prada SpA
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 VALENTINO S.p.A.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Tiffany & Co.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Estee Lauder Inc.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Europe Luxury Goods Market: Key Industry Highlights, 2018 and 2032
2. Germany Luxury Goods Market: Key Industry Highlights, 2018 and 2032
3. Germany Luxury Goods Historical Market: Breakup by Product Type (USD Billion), 2018-2023
4. Germany Luxury Goods Market Forecast: Breakup by Product Type (USD Billion), 2024-2032
5. Germany Luxury Goods Historical Market: Breakup by End Use (USD Billion), 2018-2023
6. Germany Luxury Goods Market Forecast: Breakup by End Use (USD Billion), 2024-2032
7. Germany Luxury Goods Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2023
8. Germany Luxury Goods Market Forecast: Breakup by Distribution Channel (USD Billion), 2024-2032
9. Germany Luxury Goods Historical Market: Breakup by Region (USD Billion), 2018-2023
10. Germany Luxury Goods Market Forecast: Breakup by Region (USD Billion), 2024-2032
11. Germany Luxury Goods Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 16.87 billion.
The market is estimated to grow at a CAGR of 4.20% between 2024 and 2032.
The luxury goods market in Germany is estimated to witness a healthy growth during 2024-2032 to reach around USD 24.43 billion by 2032.
The market is being driven due to rise in disposable income, the growing visits by high-net tourists, and the presence of a large number of luxurious brands.
The key trends aiding the market include the trend towards sustainable and ethical consumption, the growth of online shopping platforms, and the growing interest in vintage watches.
Regions considered in the market are North Rhine-Westphalia, Bavaria, and Baden-Württemberg.
Based on product type, market segmentations include watches and jewellery, perfumes and cosmetics, clothing, and bags/purse, among others.
Different distribution channels are offline and online.
The major players in the market are Chanel Limited, Kering SA, Rolex SA, Giorgio Armani S.p.A., Ralph Lauren Corporation, Hermès International S.A., Prada SpA, VALENTINO S.p.A., Tiffany & Co., and Estee Lauder Inc., among others.
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