Product Code: GVR-4-68040-465-3
Fashion Accessories Market Growth & Trends:
The global fashion accessories market size is expected to reach USD 1,259.44 billion by 2030, registering a CAGR of 7.9% from 2024 to 2030, according to a new report by Grand View Research, Inc. The demand and usage of fashion jewelry among consumers are increasing significantly, driven by several key factors and trends. One of the primary reasons for this growth is the rising awareness of personal appearance and fashion consciousness, particularly among younger demographics. As individuals become more invested in their external looks, they seek affordable, stylish jewelry that complements their outfits. This trend is especially pronounced among younger women, who are increasingly drawn to innovative and trendy designs that allow them to express their individuality without the high costs associated with fine jewelry.
The affordability of fashion jewelry compared to fine jewelry also plays a crucial role in its increasing popularity. With the rising costs of precious metals and gemstones, many consumers are opting for costume jewelry as a budget-friendly alternative. This accessibility allows individuals to experiment with their style and own a variety of pieces without significant financial investment. Additionally, the growing acceptance of costume jewelry as a legitimate fashion statement has encouraged consumers to embrace these affordable options.
Youngsters are particularly fascinated by new and innovative jewelry brands due to the influence of social media and celebrity endorsements. Platforms like Instagram and TikTok have become powerful tools for fashion brands to showcase their products and connect with younger audiences. Influencers and celebrities often wear and promote fashion jewelry, making it highly desirable among their followers. This trend not only increases brand visibility but also creates a sense of urgency and excitement around new product launches. For instance, in April 2023, Sustainable fashion brand Rashki partnered with Atma Leather to launch what it claims are India's first banana leather handbags. Atma has developed a material called Banofi, which consists of 60% banana fibers, 20% natural additives, and 20% non-petroleum synthetic additives.
Moreover, the rise of e-commerce has made it easier for consumers to access a wide range of fashion jewelry options. Online shopping provides convenience and allows consumers to explore various brands and styles from the comfort of their homes. Many brands are leveraging digital marketing strategies and collaborations with influencers to reach their target audience effectively, driving sales and brand loyalty.
Fashion Accessories Market Report Highlights:
- Based on end use, fashion accessories for women accounted for a share of 52.5% in 2023. More women are becoming aware of the importance of dressing modestly in accordance with Islamic guidelines. This increased awareness, coupled with stronger adherence to religious practices, has led to a higher demand for clothing that aligns with their values, such as fashion accessories that respect modesty requirements
- Based on product, handbags & purses are expected to grow at a CAGR of 9.3% from 2024 to 2030. Modern consumers are seeking versatile handbags and purses that can be used in multiple settings, from work to social outings. The demand for multifunctional designs that offer both style and practicality, such as convertible bags or bags with multiple compartments, has grown, catering to the needs of a diverse and dynamic lifestyle
- Based on distribution channels, specialty stores accounted for a share of 38.8% in 2023. Specialty stores often create a more engaging and visually appealing shopping environment, showcasing accessories in a way that highlights their design and craftsmanship. This immersive shopping experience can be more enjoyable and appealing to customers, encouraging them to explore and purchase more accessories
- North America is expected to grow at a CAGR of 7.7% from 2024 to 2030. With a growing economy and higher disposable incomes, North American consumers have more spending power to invest in fashion accessories. This financial flexibility allows for discretionary spending on luxury and stylish accessories, contributing to the overall market growth
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary End-users & Third-Party Perspectives
- 1.3.4. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Information & Data Visualization
- 1.6. Data Validation & Publishing
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Product Outlook
- 2.3. End-user Outlook
- 2.4. Distribution Channel Outlook
- 2.5. Regional Outlook
- 2.6. Competitive Insights
Chapter 3. Fashion Accessories Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.2. Industry Value Chain Analysis
- 3.2.1. Sales/Retail Channel Analysis
- 3.2.2. Profit Margin Analysis
- 3.3. Market Dynamics
- 3.3.1. Market Driver Analysis
- 3.3.2. Market Restraint Analysis
- 3.3.3. Industry Challenges
- 3.3.4. Industry Opportunities
- 3.4. Industry Analysis - Porter's
- 3.5. Market Entry Strategies
Chapter 4. Fashion Accessories Market: Product Analysis & Estimates
- 4.1. Fashion Accessories Market, by Product: Key Takeaways
- 4.2. Product Movement Analysis & Market Share, 2023 & 2030
- 4.3. Market Estimates & Forecasts, by Product, 2018 - 2030 (USD Billion)
- 4.3.1. Jewelry
- 4.3.1.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 4.3.2. Watches
- 4.3.2.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 4.3.3. Handbags & Purses
- 4.3.3.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 4.3.4. Belts & Wallets
- 4.3.4.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 4.3.5. Sunglasses
- 4.3.5.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 4.3.6. Others
- 4.3.6.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
Chapter 5. Fashion Accessories Market: End-user Estimates & Trend Analysis
- 5.1. Fashion Accessories Market, by End-user: Key Takeaways
- 5.2. End-user Movement Analysis & Market Share, 2023 & 2030
- 5.3. Market Estimates & Forecasts, by End-user, 2018 - 2030 (USD Billion)
- 5.3.1. Men
- 5.3.1.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 5.3.2. Women
- 5.3.2.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 5.3.3. Children
- 5.3.3.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
Chapter 6. Fashion Accessories Market: Distribution Channel Estimates & Trend Analysis
- 6.1. Fashion Accessories Market, by Distribution Channel: Key Takeaways
- 6.2. Distribution Channel Movement Analysis & Market Share, 2023 & 2030
- 6.3. Market Estimates & Forecasts, by Distribution Channel, 2018 - 2030 (USD Billion)
- 6.3.1. Supermarkets & Hypermarkets
- 6.3.1.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 6.3.2. Specialty Stores
- 6.3.2.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 6.3.3. Online
- 6.3.3.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 6.3.4. Others
- 6.3.4.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
Chapter 7. Fashion Accessories Market: Regional Estimates & Trend Analysis
- 7.1. Fashion Accessories Market: Regional Outlook
- 7.2. Regional Movement Analysis & Market Share, 2023 & 2030
- 7.3. Market Estimates & Forecasts, by Region & Country, 2018 - 2030 (USD Billion)
- 7.3.1. North America
- 7.3.1.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 7.3.1.2. U.S.
- 7.3.1.2.1. Key country dynamics
- 7.3.1.2.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 7.3.1.3. Canada
- 7.3.1.3.1. Key country dynamics
- 7.3.1.3.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 7.3.1.4. Mexico
- 7.3.1.4.1. Key country dynamics
- 7.3.1.4.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 7.3.2. Europe
- 7.3.2.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 7.3.2.2. U.K.
- 7.3.2.2.1. Key country dynamics
- 7.3.2.2.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 7.3.2.3. Germany
- 7.3.2.3.1. Key country dynamics
- 7.3.2.3.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 7.3.2.4. France
- 7.3.2.4.1. Key country dynamics
- 7.3.2.4.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 7.3.2.5. Spain
- 7.3.2.5.1. Key country dynamics
- 7.3.2.5.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 7.3.2.6. Italy
- 7.3.2.6.1. Key country dynamics
- 7.3.2.6.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 7.3.3. Asia Pacific
- 7.3.3.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 7.3.3.2. China
- 7.3.3.2.1. Key country dynamics
- 7.3.3.2.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 7.3.3.3. Japan
- 7.3.3.3.1. Key country dynamics
- 7.3.3.3.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 7.3.3.4. India
- 7.3.3.4.1. Key country dynamics
- 7.3.3.4.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 7.3.3.5. South Korea
- 7.3.3.5.1. Key country dynamics
- 7.3.3.5.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 7.3.3.6. Australia & New Zealand
- 7.3.3.6.1. Key country dynamics
- 7.3.3.6.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 7.3.4. Central & South America
- 7.3.4.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 7.3.4.2. Brazil
- 7.3.4.2.1. Key country dynamics
- 7.3.4.2.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 7.3.5. Middle East & Africa
- 7.3.5.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
- 7.3.5.2. South Africa
- 7.3.5.2.1. Key country dynamics
- 7.3.5.2.2. Market estimates and forecast, 2018 - 2030 (USD Billion)
Chapter 8. Competitive Analysis
- 8.1. Recent developments & impact analysis, by key market participants
- 8.2. Company Categorization
- 8.3. Participant's Overview
- 8.4. Financial Performance
- 8.5. Product Benchmarking
- 8.6. Company Market Share Analysis, 2023 (%)
- 8.7. Company Heat Map Analysis
- 8.8. Strategy Mapping
- 8.9. Company Profiles
- 8.9.1. LVMH Moet Hennessy Louis Vuitton SE
- 8.9.1.1. Company Overview
- 8.9.1.2. Financial Performance
- 8.9.1.3. Product Benchmarking
- 8.9.1.4. Strategic Initiatives
- 8.9.2. Tiffany & Co.
- 8.9.2.1. Company Overview
- 8.9.2.2. Financial Performance
- 8.9.2.3. Product Benchmarking
- 8.9.2.4. Strategic Initiatives
- 8.9.3. Kering S.A.
- 8.9.3.1. Company Overview
- 8.9.3.2. Financial Performance
- 8.9.3.3. Product Benchmarking
- 8.9.3.4. Strategic Initiatives
- 8.9.4. Richemont International SA
- 8.9.4.1. Company Overview
- 8.9.4.2. Financial Performance
- 8.9.4.3. Product Benchmarking
- 8.9.4.4. Strategic Initiatives
- 8.9.5. Hermes International S.A.
- 8.9.5.1. Company Overview
- 8.9.5.2. Financial Performance
- 8.9.5.3. Product Benchmarking
- 8.9.5.4. Strategic Initiatives
- 8.9.6. Burberry Group plc
- 8.9.6.1. Company Overview
- 8.9.6.2. Financial Performance
- 8.9.6.3. Product Benchmarking
- 8.9.6.4. Strategic Initiatives
- 8.9.7. Coach, Inc.
- 8.9.7.1. Company Overview
- 8.9.7.2. Financial Performance
- 8.9.7.3. Product Benchmarking
- 8.9.7.4. Strategic Initiatives
- 8.9.8. Michael Kors Holdings Limited
- 8.9.8.1. Company Overview
- 8.9.8.2. Financial Performance
- 8.9.8.3. Product Benchmarking
- 8.9.8.4. Strategic Initiatives
- 8.9.9. Prada S.p.A.
- 8.9.9.1. Company Overview
- 8.9.9.2. Financial Performance
- 8.9.9.3. Product Benchmarking
- 8.9.9.4. Strategic Initiatives
- 8.9.10. Chanel S.A.
- 8.9.10.1. Company Overview
- 8.9.10.2. Financial Performance
- 8.9.10.3. Product Benchmarking
- 8.9.10.4. Strategic Initiatives