Japan Luxury Goods Market Size, Share, and COVID-19 Impact Analysis, By Product (Apparel, Watches, Jewellery, Handbags, Perfumes & Cosmetics, Footwear, and Others), By End Use (Men and Women), and Japan Luxury Goods Market Insights, Industry Trend, Forecasts to 2035

Japan Luxury Goods Market Insights Forecasts to 2035

• The Japan Luxury Goods Market Size Was Estimated at USD 33.8 Billion in 2024
• The Market Size is Expected to Grow at a CAGR of Around 4.39% from 2025 to 2035
• The Japan Luxury Goods Market Size is Expected to Reach USD 54.2 Billion by 2035

According to a Research Report Published by Spherical Insights & Consulting, the Japan Luxury Goods Market Size is Anticipated to reach USD 54.2 Billion by 2035, Growing at a CAGR of 4.39% from 2025 to 2035. The Japan luxury goods market is driven by various factors, including rising demand for personalised luxury products, demand for premium quality, cultural appreciation for craftsmanship, a rise in the fashion industry and an increase in disposable income.

Market Overview

Luxury goods are not necessary for daily life but are extremely sought-after and costly, usually related to social signalling and status. The luxury goods include apparel, watches, jewellery, handbags, perfumes & cosmetics, footwear, and other products. Luxurious goods are the perfect combination of fine craftsmanship, luxurious materials, and an overall appearance of exclusivity. The Japanese luxury goods market is driven by a number of variables that work in coordination to establish a strong and vibrant industry. The demand for luxury goods has primarily been driven by the increase in disposable income, which has increased consumers' appetite for high-end goods. The need for status symbols among Gen Z and millennial customers, the rise in lifestyle changes, and the powerful impact of social media are all important factors for market growth. The rising demand for sustainable luxury goods is a key trend in this market. Further, the rising trend of personalized products presents a potential opportunity for the development of customized premium products.

Report Coverage

This research report categorizes the market for the Japan luxury goods market based on various segments and regions, and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Japan luxury goods market. Recent market developments and competitive strategies such as expansion, product launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Japan luxury goods market.

Driving Factors

One of the primary driving factors of the luxury goods market is the rise in disposable income, which encourages people to spend more on luxury products. As customers demand more personalized and distinctive experiences, luxury goods companies are compelled to develop and distinguish their products, which propels market growth. Rapid urbanisation has also played a crucial role in promoting a cosmopolitan appreciation of luxury by bringing customers together across distances and exposing them to a variety of luxury products. Additionally, the rise in online platforms enhances the accessibility of luxury goods.

Restraining Factors

Several factors hinder the growth of the luxury goods market in Japan. Recessions, volatility in markets, and economic slowdowns reduce consumers' disposable income, which restricts their capacity to purchase luxury goods. The competition from the cost-effective products further limits the market expansion.

Market Segmentation

The Japanese luxury goods market share is classified into product and end use.

• The apparel segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.   

The Japan luxury goods market is segmented by product into apparel, watches, jewellery, handbags, perfumes & cosmetics, footwear, and others. Among these, the apparel segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. This is due to product innovation, evolving fashion trends, and engaging marketing initiatives. Additionally, social media platforms play a crucial role in segmental growth.

• The women segment held the dominant share in 2024 and is expected to grow at a substantial CAGR during the forecast period.    

The Japan luxury goods market is segmented by end use into men and women. Among these, the women segment held the dominant share in 2024 and is expected to grow at a substantial CAGR during the forecast period. This is due to the increasing wealth and financial independence of women. Additionally, women are more conscious about their style and appearance.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Japan luxury goods market, along with a comparative evaluation primarily based on their end-use offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Shiseido Company, Limited
• Clé de Peau Beauté
• Comme des Garçons
• Issey Miyake
• Sacai
• Visvim
• AURALEE
• Junya Watanabe
• Tasaki
• Seiko
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at Japan, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the Japan luxury goods market based on the below-mentioned segments:

Japan Luxury Goods Market, By Product

• Apparel
• Watches
• Jewelry
• Handbags
• Perfumes & Cosmetics
• Footwear
• Others

Japan Luxury Goods Market, By End Use

• Men
• Women