India Luxury Goods Market: Size, Share, Growth & Trends 2025
- Lakshy Gagda
- Apr 24
- 3 min read
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 driven by rising disposable incomes, growing brand consciousness, and the expanding affluent middle class. The market size reached USD 10.0 billion in 2024. Looking forward, IMARC Group expects the market to reach USD 17.9 billion by 2033, exhibiting a growth rate (CAGR) of 6.37% during 2025-2033.
India Luxury Goods Market Trends and Drivers:
Consumer aspirations are thus evolving, with a bright new horizon emerging for global accessibility to brands, in turn accelerating change in the Indian luxury goods market. Tier II and Tier III cities are increasingly being brought into the fold of consumption with the influx of luxury borne by a rising urban affluent population. Meanwhile, aspirational spending is garnering growing focus.
Consumers are now searching for a range of high-end products that include designer clothing, perfumes, watches, and luxury accessories, lifestyle changes, and an increasing trend of personal branding.
With new-age social media, influencing consumers' buying behavior more so than ever, luxury brands are using digital storytelling and collaborating with influencers to build a stronger emotional connection with their targets.
In this change-off-line-to-online, digitization has provoked the shift in consumers' experiences with India luxury goods market as the onset of online retail channels fast emerged as critical touchpoints for discovery and transaction. E-commerce improves the shopping experience by using personalized recommendations, virtual try-ons, and immersive brand storytelling that make luxury appealing to tech-savvy buyers.
Furthermore, omnichannel gives way to bridge bricks with clicks as customers can now flit from online browsing to offline purchasing, or the versa. Such hybrid systems will allow the brands to create an image of exclusivity while being very accessible-liberalizing their consumer base. Besides, the Indian youth, innately inclined towards curated and experiential luxury, are relentlessly driving the demand for custom-made services and limited-edition collections.
Indian celebrities and fashionistas are garnering increasing attention for local and international luxury labels, thus creating aspirational value among consumers. The other change affecting brand strategy is the growing demand for ethically sourced and sustainable products, resulting in greater trust and loyalty toward their brands. Occasion-oriented luxury goods-whether they may be weddings, gifts, or corporate functions-are also gaining traction in light of India’s tradition of celebration.
This model is slowly being adopted by luxury product vendors and marketers in India as increasing incomes and luxury as an expression of identity and self have combined the richness of heritage craftsmanship with modern international sophistication to cater to a new kind of customer.
India Luxury Goods Market Report Segmentation:
The market report offers a comprehensive analysis of the segments, highlighting those with the largest shares. It includes forecasts for the period 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:
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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