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The global luxury goods market size is projected to reach USD 352.84 billion by 2027, exhibiting a CAGR of 4.6% during the forecast period. It stood at USD 316.16 billion in 2019 and USD 257.26 billion in 2020. Heightening luxury goods consumption by wealthier people worldwide will stoke the market growth.
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Luxury Goods Market Size & Share | Global Report [2020-2027]
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Luxury Goods Market Size & Share | Global Report [2020-2027]

The global luxury goods market size was USD 316.16 billion in 2019. The global impact of COVID-19 has been unprecedented and staggering, with luxury goods witnessing a negative demand shock across all regions amid the pandemic.