China Luxury Market Report by Category (Travel and Hotel, Cars, Personal Luxury Goods, Food and Drinks, and Others), Gender (Male, Female), Distribution Channel (Mono-Brand Stores, Multi-Brand Stores, Online Stores, and Others), and Region 2024-2032

China Luxury Market Report by Category (Travel and Hotel, Cars, Personal Luxury Goods, Food and Drinks, and Others), Gender (Male, Female), Distribution Channel (Mono-Brand Stores, Multi-Brand Stores, Online Stores, and Others), and Region 2024-2032

Report Format: PDF+Excel | Report ID: SR112024A6119
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Market Overview:

The China luxury market size reached US$ 302.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 456.1 Billion by 2032, exhibiting a growth rate (CAGR) of 4.68% during 2024-2032.

Report Attribute 
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 302.2 Billion
Market Forecast in 2032
US$ 456.1 Billion
Market Growth Rate 2024-2032 4.68%


Luxury goods and services are non-essential but desirable products that are commonly related to wealth and exclusivity. They are generally of good quality, expensive, and intended to appeal to people in a high social class. These goods and services offer great value and attract a larger section of society. They consist of luxury automobiles, hospitality services, and food and beverages from high-end dining that provide comfort and elegance to the customers. Luxury products assist in raising self-esteem, confidence, and social standing and offering comfort and elegance. These goods and services largely depend on marketing and promotions in order to communicate brand values.

China Luxury Market Trends:

The China luxury market is primarily being driven by the inflating disposable income levels of the masses. Consumers are willing to spend on lavish items, such as designer clothes, shoes, cars, and the latest automobiles. In line with this, the increasing inclination of the younger population towards expensive perfumes and cosmetics to boost confidence and enhance appearance is favoring the market growth. Apart from this, the introduction of sustainable products manufactured from environmentally friendly raw materials, such as plant-based leather derived from pineapples which are further used for producing jackets, handbags, and footwear, are providing an impetus to the market growth. Additionally, the rising penetration of e-commerce facilities and the growing popularity of social media platforms across the country is positively impacting the market growth. Other factors, including growing awareness among consumers about leading luxury brands, the launch of technology-embedded products, the establishment of upscale malls, rapid urbanization, and the increasing investments by numerous luxury brands to expand their presence in the country are anticipated to drive the market toward growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the China luxury market report, along with forecasts at the country and regional level from 2024-2032. Our report has categorized the market based on category, gender and distribution channel.

Breakup by Category:

  • Travel and Hotel
  • Cars
  • Personal Luxury Goods
  • Food and Drinks
  • Others
     

Breakup by Gender:

  • Male
  • Female
     

Breakup by Distribution Channel:

  • Mono-Brand Stores
  • Multi-Brand Stores
  • Online Stores
  • Others
     

Breakup by Region:

  • Guangdong
  • Jiangsu
  • Zhejiang
  • Henan
  • Sichuan
  • Shanghai
  • Others


Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Category, Gender, Distribution Channel, Region
Region Covered Guangdong, Jiangsu, Zhejiang, Henan, Sichuan, Shanghai, Others
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3699
Five User License: US$ 4699
Corporate License: US$ 5699
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)


Key Questions Answered in This Report:

  • How has the China luxury market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the China luxury market?
  • What are the key regional markets?
  • What is the breakup of the market based on the category?
  • What is the breakup of the market based on the gender?
  • What is the breakup of the market based on the distribution channel?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the China luxury market and who are the key players?
  • What is the degree of competition in the industry?

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China Luxury Market Report by Category (Travel and Hotel, Cars, Personal Luxury Goods, Food and Drinks, and Others), Gender (Male, Female), Distribution Channel (Mono-Brand Stores, Multi-Brand Stores, Online Stores, and Others), and Region 2024-2032
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