Dublin, Aug. 04, 2025 (GLOBE NEWSWIRE) -- The "Competitor Strategies in Personal Accessories" company profile has been added to ResearchAndMarkets.com's offering.
The personal accessories industry is dominated by Western European luxury houses, while Asia-based companies show rapid growth and the region is expected to lead growth over the next five years. To serve these markets - especially jewellery and bags - companies localise strategies to match consumer preferences. Also, US tariffs pose risks and opportunities, prompting firms to reassess sourcing and pricing amid global uncertainties.
Key findings
Jewellery and Asia Pacific outperform other categories and regions
Jewellery, the largest and fastest-growing personal accessories category at 55% of 2024 sales, is primarily driven by APAC. This region accounts for 53% of global personal accessories sales and is projected to grow to 56% by 2029, fuelling 77% of global growth. Led by China, India and other emerging markets, brands are increasingly localising strategies to secure long-term success.
Consolidation builds post-2019, then falters under 2024 pressures
Since 2019, leading personal accessories companies expanded their market share, especially in Australasia and Asia Pacific. However, by 2024, consolidation began to decline across most regions. Economic headwinds and rising prices challenged luxury giants, creating space for smaller, more flexible brands to gain traction.
Western leaders hold share as Asian players accelerate
In 2024, Western European luxury groups continued to dominate the personal accessories market, led by LVMH with a 5% share. However, six of the 10 fastest-growing companies from 2019 to 2024 were based in China and India - mainly jewellery-focused - highlighting the growing strength of local brands in global markets.
Luxury bags lead as jewellery blends tradition with global glam in APAC
APAC's bags and luggage market is dominated by luxury brands targeting affluent consumers and younger generations, with leaders such as LVMH and Miu Miu emphasising exclusivity and trend appeal. In jewellery, India shifts towards lighter gold and rising diamond demand, while China balances strong local gold traditions with rapid international luxury growth.
US tariffs send ripple effects across domestic and global markets
The "Total Trump Agenda" may slow income growth and reduce consumer spending in the US, dampening demand for personal accessories domestically and influencing markets globally. Tariff impacts vary by category due to differing import mixes from Europe and Asia, leading companies to adjust strategies amid rising costs and cautious buyers.
The Competitor Strategies in Personal Accessories global briefing offers detailed strategic analysis of the global Personal Accessories market by pinpointing growth sectors and identify factors driving change. The report identifies leading companies and brands within the keenly contested, fashion-driven competitive landscape, trend developments, economic/lifestyle influences, seasonal patterns, market and distribution strategies. Forecasts illustrate how the market is predicted to develop between mature and emerging countries, threats facing the business as well as opportunities to be seized for further growth.
Product coverage: Bags and Luggage, Jewellery, Traditional and Connected Watches, Writing Instruments.
Data coverage: Market sizes (historic and forecasts), company shares, brand shares and distribution data.
Key Topics Covered:
Industry overview
- Global personal accessories market recovery stalls amid economic headwinds
- Jewellery leads personal accessories sales in 2024, driven by fine jewellery in APAC
- Middle East and Africa and Asia Pacific lead recovery, while North America falls behind
- Market uncertainty and shifting consumer priorities slow industry consolidation
Competitive environment
- Led by LVMH, luxury giants continue to dominate the top 10.
- .while Asia-based players drive the fastest growth
- The majority of leading companies heavily depend on personal accessories for sales
- 2019-2024 growth shaped by market dynamics and share gains , with minimal M&A
- Developed markets dominate sales, yet emerging markets show rising influence
- Category diversification drives resilience and growth among leaders
- Top personal accessories players remain highly dependent on their top three brands
- LVMH and Richemont are expected to maintain their top positions over the forecast
Unlocking opportunity in new market frontiers
- Emerging APAC markets at the core of personal accessories growth
- Jewellery growth led by India, while China powers the rest of the market
- A multifaceted market: Diverse players leading across personal accessories categories
- The APAC bags and luggage market is largely dominated by luxury brands
- Louis-Vuitton buoys brand experience with "The Louis" ship-shaped flagship in Shanghai
- Asia Pacific drives Prada SpA's bags and luggage growth, powered by Gen Z demand
- India to drive nearly half of global jewellery growth from 2024 to 2029
- India's jewellery market shifts: Lighter gold and growing diamond demand
- Swarovski targets India expansion with launch of lab-grown diamonds and new stores
- Indian jewellers go global: Tanishq expands international presence with new stores
- China: The second growth engine of jewellery , powered by tradition and modernity
- Unlocking growth: Navigating the two key jewellery growth drivers in China
- Laopu Gold, the "Hermes of gold", opens its first overseas store in Singapore
- Luck and luxury: Van Cleef & Arpels channels xuanxue at the Paris Olympics
Navigating uncertainty in the US market
- The impact of Trump's agenda on the US and global personal accessories market
- Trump's shadow over the globally crucial US personal accessories market
- US personal accessories market relies on imports with a diversified regional footprint
- Tariff strategies across costume and fine jewellery : From small to big brands
- From Switzerland to silicon valley: Diverging watch segment strategies amid tariffs
- Luxury and mass-market responses to trade shocks in the bags and luggage sector
- Newell brands pushes to lower reliance on imports from China amid tariff pressures
Appendix
- Projected company sales: FAQs
For more information about this company profile visit https://www.researchandmarkets.com/r/xzdw1h
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