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Luxury Goods in Taiwan

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    Report

  • 43 Pages
  • December 2024
  • Region: Taiwan
  • Euromonitor International
  • ID: 2515389
In 2024, retail value sales of luxury goods in Taiwan increased by 8% in current terms, reaching TWD 596 billion. Despite inflationary pressures, affluent consumers continued to invest in luxury experiences and high-end products, focusing on limited edition, customisable, and exclusive items. A resurgence in international leisure tourism and business travel further fuelled this positive growth.

The Luxury Goods in Taiwan report offers a comprehensive guide to the size and shape of the Luxury Goods market at a national level. It provides the latest retail sales data, allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market and their effects on Luxury Goods retailing along with the development of consumers’ shopping patterns. Forecasts to 2028 illustrate how the market is set to change

Product coverage: Experiential Luxury, Fine Wines/Champagne and Spirits, Personal Luxury, Premium and Luxury Cars.

Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.

Why buy this report?

  • Get a detailed picture of the Luxury Goods market;
  • Pinpoint growth sectors and identify factors driving change;
  • Understand the competitive environment, the market’s major players and leading brands;
  • Use five-year forecasts to assess how the market is predicted to develop.

Table of Contents

EXECUTIVE SUMMARY
  • Luxury goods in 2024: The big picture
  • 2024 key trends
  • Competitive landscape
  • Retailing developments
  • What next for luxury goods?
MARKET DATA
  • Table 1 Sales of Luxury Goods by Category: Value 2019-2024
  • Table 2 Sales of Luxury Goods by Category: % Value Growth 2019-2024
  • Table 3 Inbound Receipts for Luxury Goods by Country of Origin: Value 2019-2024
  • Table 4 NBO Company Shares of Luxury Goods: % Value 2019-2023
  • Table 5 LBN Brand Shares of Luxury Goods: % Value 2020-2023
  • Table 6 Distribution of Luxury Goods by Format and Category: % Value 2024
  • Table 7 Forecast Sales of Luxury Goods by Category: Value 2024-2029
  • Table 8 Forecast Sales of Luxury Goods by Category: % Value Growth 2024-2029
DISCLAIMER
SOURCES
  • Summary 1 Research Sources
EXPERIENTIAL LUXURY IN TAIWANKEY DATA FINDINGS
2024 DEVELOPMENTS
  • Current retail value sales rise as year-on-year spending improves
  • Luxury hotels record a strong value increase, boosted by rising tourism
  • Formosa International Hotels Corp retains the lead while players focus on expanding
PROSPECTS AND OPPORTUNITIES
  • Luxury hotels record ongoing growth driven by climbing rates of tourism
  • New luxury hotels open their doors in response to heightened demand
  • Hotels focus on sustainability to align with consumer values and demands
CATEGORY DATA
  • Table 9 Sales of Experiential Luxury by Category: Value 2019-2024
  • Table 10 Sales of Experiential Luxury by Category: % Value Growth 2019-2024
  • Table 11 NBO Company Shares of Experiential Luxury: % Value 2019-2023
  • Table 12 LBN Brand Shares of Experiential Luxury: % Value 2020-2023
  • Table 13 Forecast Sales of Experiential Luxury by Category: Value 2024-2029
  • Table 14 Forecast Sales of Experiential Luxury by Category: % Value Growth 2024-2029
FINE WINES/CHAMPAGNE AND SPIRITS IN TAIWANKEY DATA FINDINGS
2024 DEVELOPMENTS
  • Fine wines/champagne and spirits record rising current retail value sales in 2024
  • Moët-Hennessy Taiwan leads fine wines/champagne and spirits
  • Premiumisation and limited-edition products engage wealthier consumers
PROSPECTS AND OPPORTUNITIES
  • Value sales rise while players focus on engaging consumers through e-commerce
  • Luxury whiskies showcase a strong performance as their appeal widens
  • The increasing popularity of cocktails offers growth potential for luxury spirit brands
CATEGORY DATA
  • Table 15 Sales of Fine Wines/Champagne and Spirits by Category: Value 2019-2024
  • Table 16 Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2019-2024
  • Table 17 NBO Company Shares of Fine Wines/Champagne and Spirits: % Value 2019-2023
  • Table 18 LBN Brand Shares of Fine Wines/Champagne and Spirits: % Value 2020-2023
  • Table 19 Distribution of Fine Wines/Champagne and Spirits by Format: % Value 2019-2024
  • Table 20 Forecast Sales of Fine Wines/Champagne and Spirits by Category: Value 2024-2029
  • Table 21 Forecast Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2024-2029
PREMIUM AND LUXURY CARS IN TAIWANKEY DATA FINDINGS
2024 DEVELOPMENTS
  • Sales benefit from growing levels of high-net-worth individuals in Taiwan
  • Toyota Motor Corp takes the lead of the premium and luxury car landscape
  • New launches from premium players drive growth on the luxury car landscape
PROSPECTS AND OPPORTUNITIES
  • Car showrooms focus on exclusive, high-quality consumer service to drive sales
  • Electric vehicles continue to launch, supported by government initiatives
  • Personalisation and customisation add value to the premium and luxury car landscape
CATEGORY DATA
  • Table 22 Sales of Premium and Luxury Cars: Value 2019-2024
  • Table 23 Sales of Premium and Luxury Cars: % Value Growth 2019-2024
  • Table 24 NBO Company Shares of Premium and Luxury Cars: % Value 2019-2023
  • Table 25 LBN Brand Shares of Premium and Luxury Cars: % Value 2020-2023
  • Table 26 Forecast Sales of Premium and Luxury Cars: Value 2024-2029
  • Table 27 Forecast Sales of Premium and Luxury Cars: % Value Growth 2024-2029
PERSONAL LUXURY IN TAIWANKEY DATA FINDINGS
2024 DEVELOPMENTS
  • The quality-over-quantity approach benefits sales of designer apparel and footwear (ready-to-wear)
  • Technological features and augmented reality support sales of luxury eyewear
  • Luxury jewellery sales supported by events hosted in Taiwan, attracting prestigious clients
  • Luxury leather goods allow consumers to customise purchases to provide a unique product
  • Luxury wearables focus on advanced technology and personalisation to boost sales
  • Luxury timepieces offer high-end luxury and craftsmanship to retain ongoing appeal
  • Consumers personalise luxury writing instruments and stationery for a unique touch
  • Fashion houses expand into super premium beauty and personal care
PROSPECTS AND OPPORTUNITIES
  • Luxury leather goods and timepieces support value growth over the forecast period
  • Technological advancements supports value sales on the personal luxury landscape
  • The rise in sustainable and ethical manufacturing across luxury brands
CATEGORY DATA
  • Table 28 Sales of Personal Luxury by Category: Value 2019-2024
  • Table 29 Sales of Personal Luxury by Category: % Value Growth 2019-2024
  • Table 30 NBO Company Shares of Personal Luxury: % Value 2019-2023
  • Table 31 LBN Brand Shares of Personal Luxury: % Value 2020-2023
  • Table 32 Distribution of Personal Luxury by Format: % Value 2019-2024
  • Table 33 Forecast Sales of Personal Luxury by Category: Value 2024-2029
  • Table 34 Forecast Sales of Personal Luxury by Category: % Value Growth 2024-2029