Market Snapshot
| Study Period: | 2016 - 2026 |
| Base Year: | 2021 |
| Fastest Growing Market: | Asia Pacific |
| Largest Market: | North America |
| CAGR: | 12.3 % |
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Market Overview
The global fashion accessories market is projected to grow at a CAGR of 12.3% during the forecast period (2021 - 2026).
The fashion industry is highly competitive in nature, and requires continuous innovation and development, especially in case of the product design and improvement, with changing consumer trends, which is driving the growth of the fashion accessories market.
There is a growing contribution to the market from developing countries such as India, owing to the shift in consumer behaviour, growing purchasing power, increasing urban population, etc.
The growing penetration of the internet, social media and e-commerce is now providing the consumers in tier 2 and below cities access to top brands products.
The COVID-19 crisis, the fashion industry had begun to make changes, many of which have been accelerated by the crisis. Innovation at this challenging time, has proven its relevance time and again to renovate business to achieve organisational objective, and brands, manufacturers and retailers. COVID-19 brought the industry, and the structure of the fashion supply chain in particular areas of innovation opportunities in the fashion value chain.
Scope of the Report
Fashion accessory is used to complete an outfit and chosen to specifically complement the wearer's look. This includes footwear, apparel, wallets, handbags, and watches are the major product types in the global fashion accessories market. By distribution channel, the market is segmented into offline channels and online channels. By Distribution channel, online distribution channels are gaining prominence owing to the broader availability of all fashion accessories at affordable prices.
| By Product Type | |
| Footwear | |
| Apparel | |
| Wallets | |
| Handbags | |
| Watches | |
| Other Products |
| By End-User | |
| Men | |
| Women | |
| Kids/Children | |
| Unisex |
| By Distribution Channel | |
| Offline channel | |
| Online channel |
| Geography | |||||||||
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Key Market Trends
Growing Influence of Athleisure is Driving the Market for Footwear
Consumers across the globe are increasingly seeking for various sports equipment that includes sportswear, clothing and other accessories. Additionally, the continued shift towards more active lifestyles is driving the demand for leisure activities such as running and cycling gears across the world. The increase in the number of sports and fitness activities, such as aerobics, swimming, and yoga, as well as the increase in the number of women participating in fitness and sports activities, is supporting the growth of footwear among women consumers. With continues innovative fashion accessory launches by the major brands, the growth for these accessories is propelled to grow further during the forecast period.
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Asia-Pacific is the Fastest Growing Market
The growing attraction for the luxury lifestyle, high purchasing power and the influence of celebrity endorsement are driving the market growth in the region. There is a rapid economic expansion taking place across Asia, with countries such as India and China taking center stage. As a result, India and China are becoming a more attractive market for fashion accessories outside the Western world. To gain momentum around offline stores, retailers in this region are leveraging technology to enhance the in-store experience with digital marketing displays and checkout. The strong economic growth coupled with rising tech-savviness will make the region the next big opportunity for fashion accessories during the forecast period.
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Competitive Landscape
The market studied is highly competitive. The market has key players competing for major market share, and small regional players catering to a small region, in order to capture the market share. Adidas AG, LVMH Moet Hennessy Louis Vuitton SE, Nike Inc and Fossil Group Inc. are some of the major players who are operating in this market. These players are primarily focused on providing unique and attractive high-quality products offering, along with the increased convenience of purchase.
Recent Developments
- In 2020, Nyka launched strengthened its jewellery and accessories segment with new brand launches on the platform including Immri, Gur, Bellofox, and Niiaashi. Brands like Bellofox's and Niiaashi offers a wide range of jewellery with brightly beaded creations and geometric designs with a sculptural aesthetic. Gur, Immri have recently launched designer wear handbag.
- In 2019, Tiffany & Co launched new True engagement rings. The ring has a new cut designed to sit low on the hand and has four prongs around the True diamond that subtly form the shape “T”.
- In 2018, Van Cleef & Arpels launched six new bracelets under its Perlee collection, with the option to choose from yellow gold, white gold, and pink gold colors, in the form of cuffed and clasped bracelets.
Table of Contents
1. INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Footwear
5.1.2 Apparel
5.1.3 Wallets
5.1.4 Handbags
5.1.5 Watches
5.1.6 Other Products
5.2 By End-User
5.2.1 Men
5.2.2 Women
5.2.3 Kids/Children
5.2.4 Unisex
5.3 By Distribution Channel
5.3.1 Offline channel
5.3.2 Online channel
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.1.4 Rest of North America
5.4.2 Europe
5.4.2.1 Spain
5.4.2.2 United Kingdom
5.4.2.3 Germany
5.4.2.4 France
5.4.2.5 Italy
5.4.2.6 Russia
5.4.2.7 Rest of Europe
5.4.3 Asia Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 Rest of Asia-Pacific
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle East and Africa
5.4.5.1 Saudi Arabia
5.4.5.2 South Africa
5.4.5.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Adidas AG
6.4.2 LVMH Moet Hennessy Louis Vuitton SE
6.4.3 Nike Inc.
6.4.4 Tapestry Inc.
6.4.5 Fossil Group Inc.
6.4.6 Gucci America Inc.
6.4.7 Prada SpA
6.4.8 Chanel SA
6.4.9 Luxottica Group S.p.A
6.4.10 Tory Burch LLC
*List Not Exhaustive7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Fashion Accessories Market market is studied from 2016 - 2026.
What is the growth rate of Fashion Accessories Market?
The Fashion Accessories Market is growing at a CAGR of 12.3% over the next 5 years.
Which region has highest growth rate in Fashion Accessories Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Fashion Accessories Market?
North America holds highest share in 2020.
Who are the key players in Fashion Accessories Market?
Adidas AG, LVMH Moet Hennessy Louis Vuitton SE, Tapestry Inc., Fossil Group Inc., Tory Burch LLC are the major companies operating in Fashion Accessories Market.
