Germany Luxury Goods Market was valued at USD 15.99 billion in 2024 and is anticipated to grow USD 23.21 billion by 2030 with a CAGR of 6.47% during forecast period

The size of the Germany Luxury Goods Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 7.90% during the forecast period. The luxury goods industry focuses on high-end products that are distinguished by their exclusivity, superior quality, and premium pricing. This sector encompasses a wide range of items, including designer fashion, fine jewelry, luxury watches, high-end automobiles, and premium real estate. Luxury goods are often characterized by exceptional craftsmanship, the use of rare or high-quality materials, and a strong emphasis on brand heritage and prestige. The industry is driven by consumer demand for products that symbolize status and offer a unique sense of exclusivity. Brands within the luxury sector frequently engage in meticulous design and production processes to ensure that their products stand out in terms of quality and uniqueness. This often involves artisanal techniques, limited production runs, and the use of luxurious materials like fine leather, precious metals, and gemstones. Recent developments include: In February 2022, HUGO BOSS entered into a long-term, strategic partnership with HeiQ AeoniQ LLC, a fully owned subsidiary of Swiss innovator HeiQ Plc to promote sustainability within the fashion industry., In January 2022, the Givenchy brand launched the new GIV1 sneaker with the Pre-Spring 2022 collection to increase the consumer base., In March 2021, The fashion house MCM (Mode Creation Munich) launched its first fragrance under licensing deal with Inter Parfums. MCM Eau de Parfum had launched globally including in Germany.. Key drivers for this market are: Product Innovations to Drive Demand for Watches, Rising Demand for Premium Fashion Items. Potential restraints include: Presence of Counterfeit Products. Notable trends are: Booming E-commerce Fashion Retail.

The revenue is forecast to experience significant growth in all segments in 2029. As part of the positive trend, the revenue reaches the maximum value for all five different segments at the end of the comparison period. Particularly noteworthy is the segment Luxury Fashion, which has the highest value of *** billion U.S. dollars. Find further statistics on other topics such as a comparison of the average revenue per capita in the Netherlands and a comparison of the average revenue per capita in Taiwan. The Statista Market Insights cover a broad range of additional markets.

The Germany luxury goods market reached approximately USD 16.87 Billion in 2024. The market is projected to grow at a CAGR of 4.20% between 2025 and 2034, reaching a value of around USD 25.46 Billion by 2034.

The German luxury goods market, valued at approximately €17.77 billion in 2025, exhibits a steady growth trajectory, projected to expand at a Compound Annual Growth Rate (CAGR) of 1.23% from 2025 to 2033. This relatively modest CAGR reflects a mature market where luxury consumption is influenced by economic stability and consumer confidence. Key drivers include a growing affluent population with a high disposable income, a strong preference for high-quality and prestigious goods, and a thriving tourism sector contributing to luxury spending. Emerging trends include a rising demand for sustainable and ethically sourced luxury products, personalized experiences, and the increasing integration of technology in the luxury shopping journey, such as online personalization and virtual try-on experiences. However, macroeconomic factors such as inflation and potential economic downturns pose restraints, potentially affecting consumer spending on non-essential luxury items. Market segmentation reveals a significant portion allocated to specific types of luxury goods (e.g., apparel, accessories, watches, and cosmetics) and diverse application categories reflecting varying consumer preferences and lifestyle choices. Leading players like LVMH, Chanel, and Richemont leverage strong brand recognition and established distribution networks to maintain market leadership, while emerging brands focus on innovative product offerings and targeted marketing strategies to gain market share. The competitive landscape is characterized by both intense competition and strategic collaborations. The German market's performance is largely intertwined with broader European economic trends. While the overall market displays modest growth, specific segments within the luxury goods sector—such as personalized experiences and sustainable products—demonstrate higher growth potential, attracting investment and innovation. Companies are adapting to changing consumer preferences by implementing effective customer engagement strategies, which involve creating exclusive experiences, leveraging digital channels, and providing personalized services to foster brand loyalty and drive sales. The sustained growth in the luxury goods sector is further bolstered by Germany's position as a significant tourist destination, attracting a large number of high-spending international consumers who contribute to the overall market value. Future market projections hinge on maintaining economic stability, continued consumer confidence, and the successful adaptation of luxury brands to emerging trends and consumer preferences.

The revenue in the 'Luxury Fashion' segment of the luxury goods market in Germany was forecast to continuously increase between 2024 and 2029 by in total 0.6 billion U.S. dollars (+8.98 percent). After the seventh consecutive increasing year, the revenue is estimated to reach 7.27 billion U.S. dollars and therefore a new peak in 2029. Find further information concerning the average revenue per capita in the 'Luxury Watches' segment of the luxury goods market in Taiwan and the average revenue per capita in the 'Luxury Jewelry' segment of the luxury goods market in Singapore. The Statista Market Insights cover a broad range of additional markets.

The German luxury goods market, exhibiting a robust CAGR of 7.90% between 2019 and 2024, is poised for continued growth through 2033. This expansion is fueled by several key drivers. Germany's strong economy, with a high concentration of high-net-worth individuals and a growing middle class with increasing disposable income, provides a fertile ground for luxury spending. Furthermore, the increasing popularity of e-commerce and the rise of experiential luxury, such as personalized services and exclusive events, are driving market expansion. The market is segmented by product category (apparel, accessories, jewelry, watches, cosmetics, and perfumes), with strong performance anticipated across most segments. Key players like LVMH, Chanel, Hermes, Kering, and Rolex dominate the market, competing fiercely through brand building, innovative product launches, and strategic partnerships. However, economic fluctuations and potential shifts in consumer preferences, along with increased competition from emerging brands, pose potential restraints to market growth. The increasing demand for sustainable and ethically sourced luxury goods presents both a challenge and an opportunity for market players. Looking ahead, the German luxury goods market is expected to maintain its upward trajectory, albeit at a potentially slightly moderated pace compared to the historical CAGR. Factors such as potential geopolitical instability and inflation could influence the growth rate. Nevertheless, the continued appeal of luxury brands, the country's strong economic fundamentals, and the ongoing evolution of consumer preferences suggest a positive outlook for the market. The focus on personalization, digital marketing, and sustainability will be crucial for brands to maintain their competitive edge in this dynamic market environment. Regional variations within Germany may also emerge, with certain regions experiencing more pronounced growth than others depending on demographic and economic factors. Recent developments include: In February 2022, HUGO BOSS entered into a long-term, strategic partnership with HeiQ AeoniQ LLC, a fully owned subsidiary of Swiss innovator HeiQ Plc to promote sustainability within the fashion industry., In January 2022, the Givenchy brand launched the new GIV1 sneaker with the Pre-Spring 2022 collection to increase the consumer base., In March 2021, The fashion house MCM (Mode Creation Munich) launched its first fragrance under licensing deal with Inter Parfums. MCM Eau de Parfum had launched globally including in Germany.. Notable trends are: Booming E-commerce Fashion Retail.

The Germany Luxury Goods market is growing at a CAGR of more than 4% from 2024 to 2029 as strong economy boosts demand for luxury goods.

The Germany Luxury Goods Market comprises a diverse range of products, including:Clothing and Apparel: High-end fashion items from renowned designers, including clothing, shoes, and accessories.Footwear: Exclusive and stylish footwear from luxury brands, catering to the discerning taste of consumers.Bags: Luxurious handbags, backpacks, and travel bags, often crafted from premium materials and featuring unique designs.Jewelry: Fine jewelry made with precious metals, gemstones, and intricate designs, symbolizing elegance and exclusivity.Watches: Premium timepieces from renowned watchmakers, combining functionality and sophistication.Other Accessories: A wide range of other luxury accessories, such as scarves, hats, belts, and sunglasses. Notable trends are: Growing consumer inclination toward organic cosmetic products is driving the market growth..

Over the last *** observations, the revenue is forecast to significantly increase in all regions. From the selected regions, the ranking by revenue in the luxury goods market is forecast to be led by China with ***** billion U.S. dollars. In contrast, the ranking is trailed by Germany with **** billion U.S. dollars, recording a difference of ***** billion U.S. dollars to China. Find other insights concerning similar markets and segments, such as a comparison of revenue in Asia and a comparison of revenue in Singapore. The Statista Market Insights cover a broad range of additional markets.

The Germany Luxury Goods Market was valued at USD 17.38 Billion in 2024 is anticipated to reach USD 27.81 Billion by 2032, growing at a CAGR of 6.05% from 2026 to 2032.

Germany Luxury Goods Market: Definition/Overview

Luxury goods are products or services that are not essential for living but are highly valued within a culture or community and are often associated with exclusivity and high quality. They are usually more expensive and purchased by people with higher disposable incomes or wealth. Luxury goods include jewelry, haute couture, luxury vehicles, and fine dining experiences. Their uses are diverse, including fashion, automotive, hospitality, and consumer electronics, where they act as status symbols and improve consumer experiences through premium quality and unique branding. Luxury products include services such as private chefs and personalized financial services, that cater to affluent consumers’ aspirational lifestyle.

The Germany Luxury Goods market report offers a thorough competitive analysis, mapping key players’ strategies, market share, and business models. It provides insights into competitor dynamics, helping companies align their strategies with the current market landscape and future trends.

Access Europe Luxury Goods Industry Overview which includes Europe country analysis of (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Switzerland, Luxembourg, Rest of Europe), market split by Product Type, End User, Distribution

The revenue in the 'Luxury Watches' segment of the luxury goods market in Germany was forecast to continuously increase between 2024 and 2029 by in total 0.4 billion U.S. dollars (+14.93 percent). After the seventh consecutive increasing year, the revenue is estimated to reach 3.05 billion U.S. dollars and therefore a new peak in 2029. Find more key insights for the revenue in countries and regions like the revenue in the 'Luxury Watches & Jewelry' segment of the luxury goods market in Central & Western Europe and the revenue in the luxury goods market in Panama. The Statista Market Insights cover a broad range of additional markets.

The revenue in the 'Luxury Leather Goods' segment of the luxury goods market in Germany was forecast to continuously increase between 2024 and 2029 by in total 0.3 billion U.S. dollars (+13.16 percent). After the seventh consecutive increasing year, the revenue is estimated to reach 2.55 billion U.S. dollars and therefore a new peak in 2029. Find further information concerning the average revenue per capita in the luxury goods market in Austria and the average revenue per capita in the luxury goods market in Switzerland. The Statista Market Insights cover a broad range of additional markets.

Snapshot img

Personal Luxury Goods Market Size 2025-2029

The personal luxury goods market size is forecast to increase by USD 39.3 billion at a CAGR of 2.4% between 2024 and 2029.

The market is experiencing significant growth, driven by several key trends. One of the primary factors fueling market expansion is the increased demand for premium beauty products and cosmetics. Consumers are increasingly seeking high-quality, luxurious items to enhance their appearance and self-image. Bags, purses, and other leather goods remain staples, offering both functionality and style. Another trend shaping the market is the integration of technology, with brands utilizing advanced technologies to enhance the customer experience and differentiate their offerings.
However, the market also faces challenges, including rising labor costs and fluctuating raw material prices, which can impact profitability. To remain competitive, players In the market must stay abreast of these trends and adapt to the changing market landscape. 

What will be the Personal Luxury Goods Market Size During the Forecast Period?

Request Free Sample

The market encompasses a diverse range of premium products, including watches, jewelry, cosmetics, clothing, bags, and various other items. This market is characterized by its continuous evolution, driven by changing lifestyles, technology integration, and a rising consciousness towards sustainability. Consumers increasingly seek luxury experiences and status symbols that align with their values, leading to a growing demand for technology-embedded products. Premium watches and jewelry continue to be popular choices, with consumers drawn to their timeless appeal and craftsmanship. Cosmetics and clothing, too, have seen significant growth, as people prioritize self-care and personal expression.
The market is not limited to traditional luxury items, with an expanding range of offerings such as champagne trucks, crystal bathtubs, eco-friendly beds, and even high-end smartphones. The British auction house and luxury brands continue to shape the market with their innovative offerings. However, the market is not exclusive to high-income groups; there is a growing trend towards accessible luxury, with brands catering to a wider audience. In summary, the market is dynamic and diverse, driven by changing consumer preferences, technology integration, and a growing awareness of sustainability. It offers a wide range of premium products, from traditional items like watches and jewelry to more innovative offerings like eco-friendly beds and technology-embedded products.

How is this Personal Luxury Goods Industry segmented and which is the largest segment?

The personal luxury goods industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Distribution Channel

  Offline
  Online


Product

  Hard luxury
  Apparel
  Cosmetics and perfumes
  Accessories
  Others


Geography

  Europe

    Germany
    UK
    France


  North America

    Canada
    US


  APAC

    China
    India
    Japan


  Middle East and Africa



  South America

    Brazil

By Distribution Channel Insights

The offline segment is estimated to witness significant growth during the forecast period. Personal luxury goods, such as watches, jewelry, cosmetics, clothing, bags, and other premium items, are sold through various channels. Offline distribution includes specialty stores, including brand-owned and multi-brand outlets, apparel stores, fashion accessory stores, sports equipment stores, hypermarkets, supermarkets, and department stores. Revenues from this segment have been decreasing due to the growing trend of online shopping. To boost sales, companies are increasing their store presence in local and regional markets. Luxury brands sell their merchandise through both specialty stores and other retail formats, leading to heightened competition. Consumers from the low-income group are increasingly drawn to these items due to changing lifestyles, modern culture, and rising consciousness.

Marketing strategies, competitive advantages, and sales channels continue to evolve, with online luxury shopping gaining popularity among younger consumers. Eco-friendly products and sociopolitical issues are also influencing commercial policies. The market for personal luxury goods encompasses a wide range of items, from watches and jewelry to cosmetics, clothing, bags, and even eco-friendly beds and crystal bathtubs. Brands like OMEGA, Burberry, Reliance, and others cater to diverse target audiences. The market landscape is dynamic, with trends such as technology-embedded products and second-hand brand products gaining traction. Sales channels continue to evolve, with trucks and shopping malls emerging

• The global industry was valued at US$ 12.3 Bn in 2023
• It is estimated to grow at a CAGR of 6.5% from 2024 to 2034 and reach US$ 24.6 Bn by the end of 2034

Market Introduction

Regional Outlook

Secondhand Hard Luxury Goods Market Snapshot

In 2024, around ** percent of luxury-oriented consumers in Germany were very willing to spend on travel, while around **** percent felt the same about a good diet and good food.The Allensbach Market and Advertising Media Analysis (Allensbacher Markt- und Werbeträgeranalyse or AWA in German) determines attitudes, consumer habits and media usage of the population in Germany on a broad statistical basis.

The revenue in the 'Luxury Watches & Jewelry' segment of the luxury goods market in Germany was forecast to continuously increase between 2024 and 2029 by in total *** billion U.S. dollars (+***** percent). After the seventh consecutive increasing year, the revenue is estimated to reach **** billion U.S. dollars and therefore a new peak in 2029. Find further information concerning the average revenue per capita in the 'Luxury Jewelry' segment of the luxury goods market in Luxembourg and the average revenue per capita in the 'Luxury Fashion' segment of the luxury goods market in Singapore. The Statista Market Insights cover a broad range of additional markets.

According to data from August 2023, German online shoppers in the 25-34 age bracket purchase the most luxury goods via mobile devices. Around ** percent of consumers within this age range opted to indulge in luxury purchases through their mobile phones, in stark contrast to merely *** percent of shoppers between the ages of ** and **. When comparing genders, the use of m-commerce by male luxury shoppers is significantly higher than that of female luxury shoppers. Only ** percent of women engage in mobile luxury shopping, compared to roughly ** percent of males.