Future Outlook
The Future of Indian Luxury

Discover the exciting journey of the Indian luxury industry as it shapes future trends and experiences.

The future of the Indian luxury market is promising, driven by factors such as rising affluence, evolving consumer preferences, and a growing appetite for luxury experiences. As India continues its journey towards becoming a global economic powerhouse, the luxury sector is poised to play an increasingly influential role, shaping lifestyles, aspirations, and consumption patterns across the country. With a rich tapestry of culture, heritage, and diversity, India remains a compelling destination for luxury brands seeking to establish a strong presence and capture the hearts of discerning Indian consumers.

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Projected Revenue

In 2024, the Luxury Goods market in India is projected to generate a revenue of US$7.86bn.

In 2024, the Luxury Goods market in India is projected to generate a revenue of US$7.86bn.

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Largest Segment

The largest segment is Prestige Cosmetics & Fragrances, estimated to have a market volume of US$2.28bn in 2024.

The largest segment is Prestige Cosmetics & Fragrances, estimated to have a market volume of US$2.28bn in 2024.

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Per Person Revenue

In relation to the total population, per person revenues of US$5.45 are expected to be generated in India in 2024.

In relation to the total population, per person revenues of US$5.45 are expected to be generated in India in 2024.

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Cultural Preferences

Despite a growing middle class and increasing disposable income, the luxury goods market in India remains relatively small due to cultural preferences for traditional and handmade products.

Despite a growing middle class and increasing disposable income, the luxury goods market in India remains relatively small due to cultural preferences for traditional and handmade products.

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Growth Rate

It is expected to experience an annual growth rate of 1.34% (CAGR 2024-2028).

It is expected to experience an annual growth rate of 1.34% (CAGR 2024-2028).

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Global Comparison

In terms of global comparison, in the United States generates the highest revenue, amounting to US$77,280m in 2024.

In terms of global comparison, in the United States generates the highest revenue, amounting to US$77,280m in 2024.

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Online Sales Contribution

Furthermore, online sales are projected to contribute 2.6% of the total revenue in the Luxury Goods market by 2024.

Furthermore, online sales are projected to contribute 2.6% of the total revenue in the Luxury Goods market by 2024.

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Industry Recovery and Growth

Fuelled by population growth and increasing urbanisation, the industry has returned to its pre-Covid performance levels and is expected to experience substantial growth to reach $3.7 billion by 2026, as per Boston Consulting Group (BCG).

Fuelled by population growth and increasing urbanisation, the industry has returned to its pre-Covid performance levels and is expected to experience substantial growth to reach $3.7 billion by 2026, as per Boston Consulting Group (BCG).