India Luxury Goods Market Growth, Share, Trends and Insights 2025–2033 | Get Free Sample Report

According to IMARC Group’s report titled "India Luxury Goods Market Size, Share, Trends and Forecast by Product Type, Distribution Channel, End User and Region, 2025-2033" the report offers a comprehensive analysis of the industry, including market share, growth, trends, and regional insights.

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India Luxury Goods Market Overview

The India luxury goods market size was valued at USD 10.01 Billion in 2024 and is projected to reach USD 17.94 Billion by 2033, exhibiting a CAGR of 6.37% during the forecast period 2025-2033. The market growth is propelled by rising disposable incomes, an expanding affluent middle and upper class, and increasing demand for premium and personalized luxury products. The boom in e-commerce further boosts access and reach, especially among young, tech-savvy urban consumers.

India Luxury Goods Market Key Takeaways

• Current Market Size: USD 10.01 Billion (2024)
• CAGR: 6.37%
• Forecast Period: 2025-2033
• North India holds the largest market share of over 35.45% in 2024.
• Growth driven by rising disposable incomes and a growing number of high-net-worth individuals.
• Expansion of e-commerce platforms creates new consumer engagement opportunities.
• Increasing preference for personalized luxury and changing consumer preferences fuel market expansion.
• Women dominate the end user segment with approximately 53.9% market share.
• Offline distribution channels lead with around 74.3% market share, driven by the experience and exclusivity offered.
• Watches and jewellery constitute the largest product segment with roughly 38.5% market share.

India Luxury Goods Market Growth Factors

• Increasing disposable incomes among Indian consumers, with private consumption nearly doubling to USD 2.1 Trillion in 2024.
• Expanding middle and upper classes possessing greater purchasing power.
• Growing urban population expected to reach nearly 600 million by 2036, boosting luxury consumption.
• High-net-worth individuals (HNWIs) fueling demand for premium products.
• Rising demand for distinctive and customized luxury experiences.
• Development of luxury malls and online retail websites enhancing accessibility.
• Influence of social media and digital channels with 491 million social media users as of January 2025.
• Increasing affinity for high-fashion, timepieces, jewellery, and luxury automobiles.
• Government policies supporting economic growth and a flourishing middle class.

India Luxury Goods Market Trends

• Steady rise in disposable incomes positively impacting discretionary spending.
• Growing wages and strong growth in sectors like IT, finance, and manufacturing.
• Emerging consumer class financially able to indulge in luxury goods such as designer clothing, upscale dining, premium cars, and high-end travel.
• Rapid urbanization leading to higher consumption in metropolitan cities.
• Middle and upper classes driving demand with increased access to education, jobs, and assets.
• Luxury brands innovating with affordable premium offerings aimed at the expanding middle class.
• Expansion of e-commerce facilitating easier access, especially for young, tech-savvy buyers.
• The Indian e-commerce market projected to reach USD 163 billion by 2026, with a CAGR of 27%.
• Luxury purchases influenced by increasing social media reach and digital marketing strategies.

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India Luxury Goods Market Segmentation

By Product Type

• Watches and Jewellery: Leading segment with approximately 38.5% market share in 2024, driven by cultural affinity and increasing wealth.
• Perfumes and Cosmetics
• Clothing
• Bags/Purse
• Others

By Distribution Channel

• Offline: Dominates with around 74.3% market share, offering sensory shopping experiences, bespoke services, and exclusivity.
• Online

By End User

• Women: Leading segment with about 53.9% market share, heavily influencing segments such as fashion, jewellery, and cosmetics.
• Men

India Luxury Goods Market Regional Insights

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

In 2024, North India dominated the market with a share of over 35.45%. This dominance is due to the high concentration of affluent consumers and luxury consumption in cities like Delhi, Chandigarh, and Lucknow. The market is driven by urbanization, rising income levels, and strong offline retail channels. The overall India luxury goods market is expected to grow at a CAGR of 6.37% during 2025-2033.

India Luxury Goods Market Recent Developments & News

• May 2025: Scentzania launched six flagship studios introducing a tech-driven personalized fragrance experience in India, with plans for 50+ outlets using robot-powered perfume creation.
• April 2025: Hindustan Unilever's Nexxus New York debuted in India with a luxury launch event in Mumbai featuring salon-grade proteomic science products.
• April 2025: Tudor unveiled new Black Bay editions including Pro, Chrono, 58, and 68 models with advanced features like GMT function.
• March 2025: Kilian Paris introduced its luxury fragrance collection in India, focusing on opulence, sustainability, and exclusivity.
• February 2025: Karmic Beauty launched a luxury skincare and haircare range emphasizing natural, ethically sourced ingredients.

India Luxury Goods Market Key Highlights of the Report

• Comprehensive historical and forecast analysis from 2019-2033.
• Detailed segmentation by product type, distribution channel, end user, and region.
• Insights into market drivers, challenges, and opportunities.
• Porter’s five forces analysis for competitive environment assessment.
• Competitive landscape with profiles of major companies.
• Post-sale analyst support and customization options available.

India Luxury Goods Market Key Players

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

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