Value share of the global personal luxury goods market in 2020, by product category

In 2020, the perfume and cosmetics category held a 22 percent value share of the personal luxury goods market worldwide.Luxury GoodsThe global personal luxury goods industry has been on an upward climb for many years. Although the technical term 'luxury good' is independent of the goods' quality, they are generally considered to be goods at the highest end of the market in terms of quality and price. Luxury goods manufacturers meet consumer demand by focusing on brand, aesthetics, quality materials, superior craftsmanship and pricing to transform everyday objects into status symbols. The industry rises and falls with the gross domestic product (GDP), seeing demand climb in times of economic stability and plummeting in unfavorable economic climates. As of 2020, LVMH (Louis Vuitton Moet Hennessy) was the most valuable luxury brand in the world, with a brand value of about 31.72 billion U.S. dollars.

2020年，香水与化妆品类别在全球个人奢侈品市场中所占的价值份额达到了22%。长久以来，全球个人奢侈品行业一直处于上升态势。尽管‘奢侈品’这一术语在本质上与商品的质量无关，但它们通常被视为市场上品质与价格均处于顶端的商品。奢侈品制造商通过聚焦品牌、美学、优质材料、精湛工艺以及定价策略，将日常物品转化为象征地位的符号。该行业与国内生产总值（GDP）的起伏密切相关，在经济稳定时期需求上升，在经济不景气时期需求骤减。截至2020年，路易威登-轩尼诗-路易威登集团（LVMH）成为全球价值最高的奢侈品牌，品牌价值约为317.2亿美元。