GCC Personal Luxury Products Market Share, Analysis, Industry Trends, Demand, Growth and Forecast to 2026 – Carbon Valley Farmer and Miner
According to the latest report of the IMARC group, entitled “GCC Personal Luxury Goods Market Trends: Industry, Share, Growth, Opportunities and Forecast 2021-2026 The GCC personal luxury goods market exhibited moderate growth over the period 2015-2020 and is expected to recover from 2021 and grow at a CAGR of around 5% during (2021-2026).
Personal luxury goods include a wide variety of premium and high-end items, such as clothing, watches, jewelry, cosmetics, bags, fashion accessories, and more. These branded products have premium materials, superior craftsmanship and high aesthetic value. They are usually very expensive and offer increased durability with an extended warranty period. In the GCC region, increasing levels of globalization and rising penetration of international luxury brands are bolstering the growth of the market.
Like the new coronavirus (COVID-19[FEMALE)[FEMININE) The crisis is taking over the world, we are constantly monitoring the changes in the markets, as well as the industrial behavior of consumers around the world and our estimates on the latest market trends and forecasts are made after taking into account the impact of this pandemic. .
GCC Personal Luxury Goods Market Trends:
Rising consumer living standards and increasing disposable income levels have increased the demand for personal luxuries in the GCC region. Moreover, the increasing traction of western fashion trends along with the growing population of working women are also catalyzing the demand for the products. The expansion of the tourism industry, especially in Dubai and the United Arab Emirates, as well as the easing of trade barriers with several developed countries, are giving an additional boost to the market. Additionally, the growing popularity of limited capsule collections and fashion drops have also catalyzed the market for second-hand luxury goods. Additionally, growing expenditure of various platforms to authenticate procedures through several innovative technologies aimed at mitigating the risk of product replication by counterfeiters is expected to further drive the GCC personal luxury goods market in the coming years.
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GCC Personal Luxury Goods Market Analysis and Segmentation 2021-2026:
The competitive landscape of the market has been studied in the report along with the detailed profiles of key players operating in the market.
Burberry Group PLC, Chanel SA, Estee Lauder Companies, Giorgio Armani SpA, Kering SA, Loreal, LVMH Moët Hennessy Louis Vuitton SE, Mulberry Group PLC, Prada Group, Cie Financière Richemont SA, The Swatch Group and Versace.
The report has segmented the market based on region, type, gender, and distribution channel.
Breakdown by country:
- Saudi Arabia
- United Arab Emirates
Breakdown by type:
- Watch and Jewelry
- Luxury cosmetics
Breakdown by sex:
Breakdown by distribution channel:
- Single-brand stores
- Specialty stores
- Departmental stores
- Online stores
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Main highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market drivers and success factors
- SWOT analysis
- Value chain
- Complete mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as part of the customization.
The IMARC Group is a leading market research firm providing management strategies and market research worldwide. We partner with clients across all industries and geographies to identify their most important opportunities, address their most critical challenges and transform their businesses.
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