India Luxury Goods Market to Reach USD 17.94 Billion by 2033, Expanding at 6.37% CAGR | Research Report

The latest report by IMARC Group, titled “India Luxury Goods Market Size, Share, Trends and Forecast by Product Type, Distribution Channel, End User and Region, 2025-2033”, offers a comprehensive analysis of the India luxury goods market. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.

How Big is the India Luxury Goods Industry?

The India luxury goods market size was valued at USD 10.01 Billion in 2024 and is expected to reach USD 17.94 Billion by 2033, exhibiting a CAGR of 6.37% during 2025-2033.

India Luxury Goods Market Trends:

The India luxury goods market are evolving from jewelry to accessories with rising income, transformed consumer aspirations, and a globalized lifestyle. Affluent millennials and Gen Z consumers are leading the way with demands for product exclusivity, artistry, and provenance. Their exposure to globalized lifestyles through social media, luxury world influencers, and international travel have created a societal awareness of luxury and high-end fashion, accessories, beauty, and automobiles. More consumers emphasize quality, customizability and brand legacy, which has encouraged global luxury brand houses to adapt their offerings to the Indian market and improve the customer experience.

Another trend affecting purchasing behavior is premiumization, with consumers willing to spend money on luxury as reflection of their success and self-expression. Luxury is no longer just about status, with experiential luxury on the rise; done by offering personal and bespoke services, limited edition products, and tailor made shopping experiences. Brick-and-mortar retail spaces (for example, luxury department stores) in metropolitan cities will coexist with luxury online platforms that offer convenience but do not devalue their status of exclusivity.

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India Luxury Goods Market Scope and Growth Analysis:

The growth in India’s luxury goods market is a product of the increasing consumers’ appetite for luxury lifestyle products among urban and semi-urban populations. Growth is attributable to increased disposable incomes, retail infrastructure improvements, and access to more retail locations focused on luxury shopping, aside from Tier-I and Tier-II cities. Companies are leveraging omni-channel strategies that combine flagship stores and digital platforms to boost reach while customer engagement. Foreign direct investment reform is improving business conditions may yield FDI and ultimately encourage foreign luxury brands to enter or grow in India. These foreign luxury brands will also be complemented by in-demand sectors of smaller, but fast-growing segments like sustainable luxury, artisanal, and homegrown designer products, which at least is indicative of attitudes associated with conscientious consumption and cultural identity.

There are strategic tie-ups between luxury international fashion houses and Indian designers, which lend some locality to international luxury offerings. Wealth management firms and lifestyle concierge services are pairing high-end luxury experiences with investment services for high-net-worth-individual clientele. The quality of consumer tasted has followed a similar maturation path to that of the luxury goods definition, which continues to expand beyond material goods, and - as such - the future of the India luxury goods market will increasingly shift toward innovation, exclusivity, and more targeted market expansion.

India Luxury Goods Market Segmentation:

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

Analysis by Product Type:

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

Analysis by Distribution Channel:

• Offline
• Online

Analysis by End User:

• Women
• Men

Regional Analysis:

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

Competitive Landscape:

The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.

Other key areas covered in the report:

• COVID-19 Impact on the Market
• Porter’s Five Forces Analysis
• Strategic Recommendations
• Market Dynamics
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape
• Top Winning Strategies
• Recent Industry News
• Key Technological Trends & Development

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IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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