The research company Euromonitor International has published a report on the global luxury market. According to experts' forecasts, the luxury goods market will reach $ 405 billion by 2019, that is, 20% higher than the current figure of $ 339 billion.
The report notes that the US remains the largest luxury market, currently it is estimated at $ 78 billion. Over the past five years, the US market has grown by $ 18 billion. The
Japanese market shows signs of the long-awaited recovery.
In this case, it is expected that over the next five years, the Chinese luxury goods market will grow by 52% and most likely will shift Japanese from second place in the world.
However, in the short term, China will experience the fall of the luxury market and will drop to 3-4 place this year. The current growth rate of 4% next year will be 6%.
According to Euromonitor experts, India is the leader in growth of the luxury goods market - over the past five years it has increased by 92%. In particular, the segments of luxury jewelry and watches grew by 25% over the same period.