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Fashion Accessories Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

  • ID: 4622768
  • Report
  • June 2022
  • Region: Global
  • 110 Pages
  • Mordor Intelligence

FEATURED COMPANIES

  • Adidas AG
  • Chanel SA
  • Fossil Group Inc.
  • Gucci America Inc.
  • Luxottica Group S.p.A
  • Nike Inc.
The Global Fashion Accessories Market is projected to register a CAGR of 12.3% during the forecast period (2022 - 2027).

The COVID-19 is affecting millions of people. In addition to the severe implications and significant impact on businesses and world economies as well 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. The pandemic brought the industry, and the structure of the fashion supply chain in particular areas of innovation opportunities in the fashion value chain.

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.

With the increasing number of brand-conscious consumers across the world, major players are adopting strategies to draw the attention of consumers, by introducing new products in different segments across the world.

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.



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.



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 now focusing on social media platforms and online distribution channels for the online marketing and branding of their products, to capture maximum attention of the customers. Major players focus on leveraging the opportunities posed by innovation in the market, to expand their product portfolios, so that they can cater to the requirements in various product segments by focusing on providing unique and attractive high-quality products offering, along with the increased convenience of purchase.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support


This product will be delivered within 2 business days.

FEATURED COMPANIES

  • Adidas AG
  • Chanel SA
  • Fossil Group Inc.
  • Gucci America Inc.
  • Luxottica Group S.p.A
  • Nike Inc.

1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY3 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
7 MARKET OPPORTUNITIES AND FUTURE TRENDS8 IMPACT OF COVID-19 ON THE MARKET

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A selection of companies mentioned in this report includes:

  • Adidas AG
  • LVMH Moet Hennessy Louis Vuitton SE
  • Nike Inc.
  • Tapestry Inc.
  • Fossil Group Inc.
  • Gucci America Inc.
  • Prada SpA
  • Chanel SA
  • Luxottica Group S.p.A
  • Tory Burch LLC

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