Hard Luxury Goods Market, By Product Type (Watches and Jewelry), By Gender (Male and Female), By Distribution Channel (Online Stores, Department Stores, Monobrand Stores, and Specialty Stores), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2029

Hard Luxury Goods Market accounted for US$ 112.43 billion in 2020 and is estimated to be US$ 647.45 billion by 2030 and is anticipated to register a CAGR of 10.40%.

Hard luxury goods are those that are made to last, such as jewellery, furniture, electronics, appliances, tools, and so on. Greater investment is required for hard luxury, which is frequently far more expensive than soft luxury. As a result, sales of hard luxury goods—such as jewellery and watches—have fallen behind those of soft luxury goods. The majority of hard luxury suppliers are sceptical that their affluent customers will be able to purchase hard luxury goods as readily as they do soft luxury, and it appears that just about 5% of hard luxury transactions are already performed online.

Due to rising consumer demands for sophisticated products, this Hard Luxury Goods Market is anticipated to experience considerable expansion throughout the forecast period. The rise of the target market is also being fueled by customers' increasing propensity for purchasing branded goods. Additionally, the retail sector has made significant investments in product promotion, which has expanded the target market. Furthermore, during the course of the forecast period, rising advertising efforts conducted through digital media channels, or digital marketing, are anticipated to propel market expansion.

The Global Hard Luxury Goods Market is segmented based on product type, gender, distribution channel, and region.

On the basis of product type, the Global Hard Luxury Goods Market is segmented into Infotainment and Multimedia, Engine Components, Tires and wheels, Interior Accessories, and Electrical Product. On the basis of gender, the Global Hard Luxury Goods Market is segmented into Male and Female. On the basis of distribution channel, the Global Hard Luxury Goods Market is segmented into Online Stores, Department Stores, Monobrand Stores, and Specialty Stores.

Regional Insights:

On basis of region the Global Hard Luxury Goods Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Due to the existence of major hard luxury goods brands in Germany, France, Switzerland, and Italy, Europe is currently dominating the worldwide market. Additionally, the target market in Europe is being driven by the increasing number of duty-free shops and the incredibly dense retail network. Because of the growing number of newly listed high net worth people, Asia-Pacific is expected to have stable growth in the worldwide market throughout the course of the projected period. Additionally, the increase in consumer disposable income is a driving force behind the target market's expansion in Asia-Pacific

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the Global Hard Luxury Goods report based on test, application, and region.

Global Hard Luxury Goods Market, By Product Type:

• Watches
• Jewelry

Global Hard Luxury Goods Market, By Gender:

• Male
• Female

Global Hard Luxury Goods Market, By Distribution Channel:

• Online Stores
• Department Stores
• Monobrand Stores
• Specialty Stores

Global Hard Luxury Goods Market, By Region:

• North America
  • Middle East & Africa
    • GCC
    • Israel
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Italy
    • Rest of Europe
  • U.S.
  • Canada

The key players operating the Global Hard Luxury Goods Market Includes LVMH Service Ltd., Graff Diamonds Ltd., Giorgio Armani SpA, Cie Financiere Richemont SA, The Swatch Group Ltd, Ralph Lauren Corporation, Bulgari SpA, Chanel S.A., Tiffany & Co. and Harry Wintson, Inc. The global market for hard luxury goods has seen trends like product releases, improvements in the manufacturing process, and strategic collaborations. The rare 18.96-carat beautiful vivid pink diamond, known as "The Winston Pink Legacy," for example, was purchased at Christie's auction house in Geneva and has been described as "almost unheard of" by Harry Winston, Inc.

• LVMH Service Ltd. 
• Graff Diamonds Ltd.
• Giorgio Armani SpA
• Cie Financiere Richemont SA
• The Swatch Group Ltd
• Ralph Lauren Corporation
• Bulgari SpA
• Chanel S.A.
• Tiffany & Co.
• Harry Wintson, Inc.