accounted for around 90 % share of the global market revenue in 2015 as it is the most approachable and preferred mode among consumers . However , the online sales segment is anticipated to grow at the highest CAGR during the forecast period due to improvements in various digital platforms and increasing e-commerce websites in various regions .
Traditionally , beauty products , cosmetics , accessories , and designer apparel were majorly used by women . However , these products are gradually gaining popularity among men as well . Luxury travel goods , designer apparel , and other products are largely used by men owing to the change in spending habits and improved shopping experiences . Females account for more than 65 % share in global luxury goods market while the share of male customers is comparatively lower . However , male consumers segment is anticipated to grow at the highest CAGR of 4.6 % during the forecast period .
In the year 2015 , Europe and Asia-Pacific collectively accounted for nearly two-third of the worldwide luxury goods market size and are expected to maintain their dominant position throughout the forecast period . However , Asia-Pacific is projected to be the fastest growing region , followed by LAMEA .
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Key findings of Luxury Goods Market study
The others segment in product type is expected to witness highest CAGR of 6.0 %. Designer apparels and luxury jewelry segment together accounted for more than half of the luxury goods market share in 2015 . Females accounted for the highest market share in 2015 , however , male segment is expected to register highest growth . Asia-Pacific is estimated to witness significant growth during the forecast period with China and Japan being the major stakeholders . In the year 2015 , U . S . led the global demand in the luxury goods market . The report provides comprehensive analysis of the key players that operate in the global Luxury Goods Market such as The Estee Lauder Companies Inc ., LOral International , LVMH Group , Kering SA , The Shiseido Company , Ltd ., Prada S . p . A ., Ralph Lauren Corporation , Swatch Group , Luxottica Group S . p . A , and Compagnie Financire Richemont SA . These players occupy a major share in the luxury goods market followed by other tier 2 and tier 3 players worldwide . Luxury goods include designer apparels , ornaments , and other expensive merchandises that are typically accessible to the wealthy and often indicate status . The global luxury goods market is expected to reach $ 428,509 million by 2022 , registering a CAGR of 3.8 % during the forecast period .