NEW YORK, Aug. 23, 2023 /PRNewswire/ — The affordable luxury market in Europe is poised to grow by USD 3,553.06 million from 2022 to 2027, progressing at a CAGR of 3% during the forecast period, according to Technavio. The report offers an up-to-date analysis and to know the exact growth variance and the Y-O-Y growth rate Request a sample report.
Affordable Luxury Market in Europe 2023-2027: Scope
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. Our affordable luxury market in Europe report covers the following areas:
Affordable Luxury Market in Europe 2023-2027: Segmentation
The affordable Luxury Market in Europe is segmented as below:
The clothing segment is estimated to witness significant growth during the forecast period. This segment is aimed at consumers who appreciate craftsmanship, elegant design, and quality fabrics but lack in significant budget for branded luxury items. One of the key drivers for the expansion of the affordable luxury market in the region is its ability to offer both exclusivity and accessibility. This segment is gaining popularity with European consumers as brands are emphasizing luxury fabrics such as high-grade cotton, silk, or cashmere, adding a touch of luxury to their collections. Hence, these factors are expected to drive segment growth during the forecast period.
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Affordable Luxury Market in Europe 2023-2027: Market Dynamics
The rise in disposable income of people in the region is a key factor driving market growth.
The increasing focus on influencer marketing and social media engagement is a major trend in the market. Influencer marketing and social media interactions are changing the relationship between brands and audiences. With the growing popularity of social media, consumers are turning to influencers for inspiration, recommendations, and feedback. As a result, businesses are adopting influencer marketing to effectively reach and engage potential customers. Furthermore, partnering with influencers helps companies reach their established audiences, exposing them to a highly engaged and relevant customer base. Hence, these factors are expected to drive market growth during the forecast period.
Increasing labor costs and fluctuating raw material prices is a significant challenge restricting market growth.
Affordable Luxury Market in Europe 2023-2027: Company Analysis
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. We provide a detailed analysis of around 25 companies operating in the Affordable Luxury Market in Europe, including some of the companies such as BA and SH, Burberry Group Plc, EXQUISITE Luxury, Geox S.p.A, IC Group AS, Industria de Diseno Textil SA, Kering SA, LES BOUTIQUES LONGCHAMP, LOreal SA, Maison Balzac Pty Ltd., MakersValley, Prada S.p.A, Royal RepubliQ, s. Oliver Bernd Freier GmbH and Co. KG, Shandong Ruyi Technology Group Co. Ltd., SISLEY, Stella McCartney Ltd., Tessilform S.p.a, YOOX NET A PORTER GROUP S.p.A., and ZV France SAS. Backed with competitive intelligence and benchmarking, our research reports on the Affordable Luxury Market in Europe are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.
Affordable Luxury Market in Europe 2023-2027: Key Highlights
- CAGR of the market during the forecast period 2023-2027
- Detailed information on factors that will assist the affordable luxury market in Europe growth during the next five years
- Estimation of the affordable luxury market in Europe size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the affordable luxury market in Europe
- Analysis of the market’s competitive landscape and detailed information on companies
- Comprehensive details of factors that will challenge the growth of the affordable luxury market in Europe companies
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The luxury handbags market is estimated to grow at a CAGR of 7.68% between 2022 and 2027. The size of the market is forecast to increase by USD 29,125.59 million. This report extensively covers market segmentation by distribution channel (offline and online), type (handbag, backpack, wallet, and others), and geography (Europe, North America, APAC, South America, and Middle East and Africa). The high influence of celebrity endorsements is notable in driving the market growth.
The luxury hotel market is estimated to decline at a CAGR of 4.5% between 2022 and 2027. The size of the market is forecast to increase by USD 54.46 billion. This report extensively covers market segmentation by type (upscale, upper-upscale, and luxury), ownership (chain and independent), and geography (North America, Europe, APAC, Middle East and Africa, and South America). The growing disposable income among the guests is notably driving the market growth.
Affordable Luxury Market In Europe Scope
Growth momentum & CAGR
Accelerate at a CAGR of 3%
Market growth 2023-2027
USD 3,553.06 million
YoY growth 2022-2023 (%)
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled
BA and SH, Burberry Group Plc, EXQUISITE Luxury, Geox S.p.A, IC Group AS, Industria de Diseno Textil SA, Kering SA, LES BOUTIQUES LONGCHAMP, LOreal SA, Maison Balzac Pty Ltd., MakersValley, Prada S.p.A, Royal RepubliQ, s.Oliver Bernd Freier GmbH and Co. KG, Shandong Ruyi Technology Group Co. Ltd., SISLEY, Stella McCartney Ltd., Tessilform S.p.a, YOOX NET A PORTER GROUP S.p.A., and ZV France SAS
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
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Table Of Contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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The post Affordable Luxury Market in Europe to grow by USD 3.55 billion from 2022 to 2027 | The rise in disposable income of people in the region to boost market growth – Technavio first appeared on NY Elite Magazine.