India Luxury Goods Market Overview

Base Year: 2024

Historical Years: 2019-2024

Forecast Years: 2025-2033

Market Size in 2024: USD 10.0 Billion

Market Forecast for 2033: USD 17.9 Billion

Market Growth Rate: 6.37% (2025-2033)

The India luxury goods market is growing due to rising disposable incomes, increasing brand consciousness, and expanding urbanization. According to the latest report, the market is projected to grow at a compound annual growth rate (CAGR) of 6.37% from 2025 to 2033.

India Luxury Goods Market  Trends and Drivers:

The market in India is majorly driven by the rising disposable income among the upper-middle class and high-net-worth individuals (HNWIs). The increasing urbanization and the emergence of metropolitan hubs have created a strong consumer base for luxury brands. Also, the growing influence of global fashion and lifestyle trends has encouraged Indian consumers to invest in high-end clothing, accessories, and automobiles.

The expansion of international luxury brands in India, facilitated by foreign direct investment (FDI) relaxations, has improved accessibility to premium products. Further, the digital transformation of retail, with luxury brands adopting e-commerce and direct-to-consumer strategies, has expanded the market's reach. The rising experiential luxury, including high-end travel, fine dining, and personalized shopping experiences, has strengthened the sector.

The growing appreciation for heritage and craftsmanship has fueled demand for luxury watches, jewelry, and artisanal products. In line with this, the strategic collaborations between global luxury brands and Indian designers have enhanced brand engagement, offering exclusive collections tailored to the preferences of Indian consumers.

The scope of the market in India is expanding as evolving consumer preferences and industry innovations reshape the sector. Besides this, the increasing demand for sustainable and ethically sourced luxury goods has led brands to introduce eco-friendly packaging and responsible sourcing practices, which is further broadening the market appeal. Additionally, the growing influence of millennial and Gen Z consumers, who prioritize authenticity and digital engagement, has accelerated the shift toward omnichannel retail experiences, thus enhancing market growth.

As per market analysis, the expansion of bespoke and customized luxury offerings, particularly in apparel, jewelry, and automobiles, has created a positive outlook for the market. Furthermore, the rising luxury real estate and high-end interior décor have created synergies between premium lifestyle brands and home aesthetics, which further provided a boost to the product demand. Moreover, high-profile endorsements by celebrities and social media influencers have played a significant role in shaping aspirational luxury buying behaviors, which, in turn, is creating lucrative opportunities for the market.

India Luxury Goods Market Report Segmentation:

The market report offers a comprehensive analysis of the segments, highlighting those with the largest India Luxury Goods Market. It includes forecasts for 2025-2033 and historical data from 2019-2024 for the following segments.

Product Type:

  • Watches and Jewellery
  • Perfumes and Cosmetics
  • Clothing
  • Bags/Purse
  • Others

Distribution Channel:

  • Offline
  • Online

End User:

  • Women
  • Men

Region:

  • North India
  • West and Central India
  • South India
  • East and Northeast India

For an in-depth analysis, you can refer to a sample copy of the report:

https://www.imarcgroup.com/india-luxury-goods-market/requestsample

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Key Highlights of the Report:

  • Market Performance (2019-2024)
  • Market Outlook (2025-2033)
  • COVID-19 Impact on the Market
  • Porter's Five Forces Analysis
  • Strategic Recommendations
  • Historical, Current, and Future Market Trends
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Structure of the Market
  • Value Chain Analysis
  • Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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