Pune, May 16, 2023 (GLOBE NEWSWIRE) -- A global Consumer Goods & Services research and business consulting firm, Maximize Market Research, has published a market intelligence report on the “Fashion Accessories Market”. The report is a combination of primary data and secondary data and domain expert has analyzed the Fashion Accessories Market from a local as well as a global point of view. Over the forecast period, Maximize Market Research expects, the market to grow from USD 1249.67 Bn in 2022 to USD 3236.13 Bn in 2029 at a CAGR of 14.56 percent.
Fashion Accessories Market Report Scope and Research Methodology
| Market Size in 2022 | USD 1249.67 Bn. |
| Market Size in 2029 | USD 3236.13 Bn. |
| CAGR | 14.56 percent (2023-2029) |
| Forecast Period | 2023-2029 |
| Base Year | 2022 |
| Number of Pages | 276 |
| No. of Tables | 116 |
| No. of Charts and Figures | 114 |
| Segment Covered | Product Type, Type and End User |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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The bottom-up approach was used for estimating the market size by value and volume. The report includes growth hubs, investment feasibility, restraints, and competitive analysis of the market in five major geographic regions such as North America, Asia Pacific, Middle East and Africa, Europe, and South America. The report presents a market analysis through segments along with its multiple sub-segments. The report involves data regarding mergers and acquisitions and partnerships by major key companies. The Fashion Accessories Market data has been collected through primary and secondary research methods. Collected data is later analyzed by tools such as SWOT, PORTER’s five-force model, and PESTLE analysis which provides political, social, economic, environmental, technological, and legal aspects of the market.
Fashion Accessories Market Overview
Fashion Accessories is an items used to contribute in a secondary manner to an individual’s outfit. The growing e-commerce industry and the investment of major Fashion Accessories Key Players in the Fashion Accessories Industry are expected to drive the Fashion Accessories Market. Recently, in December 2022, House of Titan introduced IRTH, its latest women's handbag brand, which provides a range of handbags suitable for different occasions such as night outs, weekend getaways, workdays, and more.
Fashion Accessories Market Dynamics
The fashion accessories industry is experiencing rapid growth, driven by various opportunities and factors. One of the key drivers is the increasing demand for eco-friendly and sustainable accessories, as consumers are becoming more environmentally conscious. Additionally, the market is fueled by the rise in disposable income and evolving fashion trends, leading to a higher demand for premium and high-quality accessories. The online channel has emerged as a dominant distribution platform, with e-commerce platforms offering a wide array of products at competitive prices, providing consumers with the convenience of shopping from home. Moreover, headwear products such as hats, caps, headbands, and beanies are gaining popularity across all age groups due to their functional and fashionable appeal. The preference for winter apparel and accessories, including hats, beanies, and other winter headwear products, is growing due to changing weather conditions caused by global warming, particularly in well-established regions. The fashion industry is highly competitive and established Fashion Accessories Key Companies dominated the market, which is expected to limit the Fashion Accessories Market. The growing preference for winter apparel and accessories like hats, beanies, and winter headwear products is attributed to changing weather conditions due to global warming, especially in established regions.
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Fashion Accessories Market Regional Insights
As a developing economy, the Asia Pacific is expected to create a lucrative opportunity for major Fashion Accessories Key Companies. The Asia Pacific is expected to hold more than 48 percent revenue share in the Fashion Accessories Market. The growing trend of buying accessories through online shopping platforms and the increased internet penetration everywhere including remote areas are expected to drive the Asia Pacific Fashion Accessories Market during the forecast period.
The Middle East and Africa are expected to grow at the highest CAGR of 14.6 percent during throughout the forecast period (2023-2029). The Fashion Accessories Market Growth is also supported by favorable government initiatives to build a business in the region and the developing economy with skilled human resources.
Fashion Accessories Market Segmentation
By Product Type:
- Bags
- Jewellery
- Watches
- Apparel
- Footwear
- Others
In the fashion accessories market, the watches & jewelry segment holds a significant share, accounting for over 40% of the total revenue in 2022. The watches & jewelry category includes a variety of products, such as fine jewelry made of precious metals like silver, gold, and titanium, as well as fashion jewelry.
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By Type:
- Online
- Offline
By End User:
- Men
- Women
- Children
The market is divided into different segments based on the end-user, including Kids/Children, Women, and Men. Among these segments, the women's category is expected to hold a substantial share in the market thnaks to the wide availability of branded wearable and accessory products in various stores. Additionally, women's heightened focus on their appearance drives the demand for fashionable goods.
Fashion Accessories Key Competitors include:
- Coach (Premium) - United States
- Michael Kors - United States
- Kate Spade - United States
- Vera Bradley - United States
- American Eagle Outfitters - United States
- Superdry (United Kingdom)
- Mulberry (Premium) - United Kingdom
- Longchamp – France
- Bally - Switzerland
- Fred Perry - United Kingdom
- Shiseido (Premium) - Japan
- Samsonite - Hong Kong
- Li-Ning - China
- Anta - China
- Oroton - Australia
- Burberry (Premium) - United Arab Emirates
- Pasha - India
- Okhtein - Egypt
- Le BHV Marais - Saudi Arabia
- Sunuva - South Africa
- Renner - Brazil
- Chamelle - Colombia
- LOB - Mexico
- Prüne - Argentina
- Vélez – Colombia
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Key questions answered in the Fashion Accessories Market are:
- What is the Fashion Accessories Market?
- What was the Fashion Accessories Market size in 2021?
- What is the expected Fashion Accessories Market size during the forecast period?
- What are the global trends in the Fashion Accessories Market?
- What are the major restraints for the Fashion Accessories Market?
- Which segment dominated the Fashion Accessories Market growth?
- What is the demand pattern for the Fashion Accessories Market?
- What growth strategies are the players considering to increase their presence in Fashion Accessories Market?
- What are the upcoming industry applications and trends for the Fashion Accessories Market?
- Who are the leading companies and what are their portfolios in Fashion Accessories Market?
- Which region dominates the largest market share in Fashion Accessories Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, Organization Size, Application and Industry Vertical
- Market Segmentation – A detailed analysis by Product Type, Type and End User
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Maximize Market Research is leading Consumer Goods & Services research firm, has also published the following reports:
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Fast Fashion Market - The market size is expected to reach USD 165.39 Bn by 2029 at a CAGR of 7.59 percent during the forecast period. The market is expected to be driven by the presence on the Internet and e-commerce has increased fashion awareness and increased the availability of high-end brands and limited edition products.
Luxury Fashion Market - The market size is expected to reach USD 332.98 Bn by 2029 at a CAGR of 4 percent during the forecast period. The market is expected to be driven by promotions and celebrity endorsements.
Outdoor Clothing Market - The market size is expected to reach USD 22.80 Bn by 2029 at a CAGR of 5.45 percent during the forecast period. The market is expected to be driven by the growing trend of outdoor clothing among consumers across the world.
Tracksuits Market - The market size is expected to reach USD 15.95 Bn by 2029 at a CAGR of 7.9 percent during the forecast period. The market is expected to be driven by changing trends in fashion.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include Consumer Goods & Services, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
