Personal Accessories Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2021-2031

The Global Personal Accessories Market is projected to expand from USD 541.93 Billion in 2025 to USD 760.51 Billion by 2031, registering a CAGR of 5.81%. This industry encompasses the collaborative sector of supplementary wearable items, such as jewelry, watches, handbags, and small leather goods, which are designed to enhance personal style and complement apparel. The market's upward trajectory is largely sustained by core economic factors, including increasing global disposable incomes and rapid urbanization, which broaden the consumer base with discretionary spending power. Additionally, the structural transition toward digital retail channels has permanently extended market reach, enabling brands to serve demand in geographies that were previously inaccessible.

Demonstrating the sector's resilience, the World Gold Council reported that global spending on gold jewelry rose by 9% in 2024 to reach US$144 billion, highlighting the ability to generate value even amidst complex economic environments. Despite this positive retention of value, the market confronts a substantial obstacle regarding volatile raw material costs. These fluctuations create pricing instability and can severely limit volume expansion, particularly in price-sensitive regions where consumers are less equipped to absorb cost increases.

Market Drivers

The rapid proliferation of e-commerce and digital retail platforms acts as a transformative catalyst for the Global Personal Accessories Market, fundamentally reshaping consumer purchasing pathways. Brands are increasingly adopting omnichannel strategies, incorporating virtual try-on technologies and seamless mobile payment systems to penetrate new demographics and bypass geographical constraints. This digital evolution is especially prominent in the affordable luxury segment, where accessibility drives volume. For instance, Pandora's 'Interim Financial Report Q2 2024' from August 2024 revealed a 19% like-for-like increase in online channel revenue, underscoring the critical role digital storefronts play in maintaining commercial momentum.

Simultaneously, rising consumer demand for premium and luxury lifestyle products acts as a second major driver, fueled by a growing class of affluent consumers in emerging economies who regard accessories as both investment assets and status symbols. While mature markets remain stable, developing regions are experiencing a surge in appetite for high-craftsmanship items like Swiss watches and leather goods. This trend was evidenced by the Federation of the Swiss Watch Industry in January 2025, which reported a 25.2% increase in exports to India for 2024. Furthermore, Hermès International reported consolidated first-half revenue of €7.5 billion in 2024, confirming the enduring global strength of the high-end sector.

Market Challenges

Volatile raw material costs represent a significant barrier to the sustainable growth of the Global Personal Accessories Market. When the prices of essential inputs such as gold, silver, and high-grade leathers fluctuate unpredictably, manufacturers face difficulties in maintaining consistent pricing structures. This instability necessitates frequent adjustments to wholesale and retail costs, which risks alienating cost-conscious consumers and disrupting long-term supply chain agreements. Consequently, manufacturers in price-sensitive regions are often compelled to reduce production volumes to avoid inventory risks associated with high-cost materials, thereby directly stalling market expansion.

The repercussions of this cost instability are clearly reflected in recent trade data from major manufacturing hubs, signaling a broader trend of restricted expansion. According to the Gem & Jewellery Export Promotion Council, India's total gross exports of gems and jewelry declined by approximately 11.7% in the financial year ending March 2025. This contraction illustrates how escalating and fluctuating input costs can severely limit trade volumes and value generation, effectively hampering the industry's ability to capitalize on demand in key international markets.

Market Trends

The mainstreaming of lab-grown diamonds and ethically sourced gemstones is fundamentally altering the sector's material composition, driven by a consumer shift toward value-oriented and environmentally conscious consumption. This trend challenges the traditional dominance of mined minerals, as technological advancements now allow for the creation of identical gemological properties at a fraction of the environmental and financial cost. Major jewelry retailers are aggressively pivoting to these alternatives to capture younger demographics who prioritize transparency. Notably, Pandora's 'Interim Financial Report Q2 2024' from August 2024 indicated an 88% like-for-like growth in its Lab-Grown Diamonds collection, validating the commercial acceptance of synthetic stones.

Concurrently, the rapid expansion of the pre-owned and vintage luxury resale market is establishing a parallel economy where accessories are increasingly treated as liquid investment assets rather than depreciating consumables. This circular model extends the lifecycle of high-quality items, particularly in the hard luxury segment, allowing consumers to monetize existing collections and providing a trusted entry point for aspirational buyers. The surge in demand for investment-grade vintage pieces reflects a behavior where buyers seek value retention during economic uncertainty. According to The RealReal's '2024 Luxury Resale Report' in August 2024, sales of fine jewelry priced over US$5,000 increased by 22% year-over-year, indicating a robust preference for enduring value in the secondary market.

Key Players Profiled in the Personal Accessories Market

• LVMH Moet Hennessy Louis Vuitton
• Compagnie Financiere Richemont SA
• Apple Inc.
• The Swatch Group Ltd.
• Kering Group
• Chanel S.A.
• Rolex SA
• Tapestry, Inc.
• Pandora A/S
• PRADA S.P.A.

Report Scope

In this report, the Global Personal Accessories Market has been segmented into the following categories:

Personal Accessories Market, by Product Type:

• Jewelry
• Bags & Wallet
• Watches
• Others

Personal Accessories Market, by End User:

• Female
• Male
• Kids

Personal Accessories Market, by Distribution Channel:

• Exclusive Stores
• Multi-Brand Stores
• Specialty Stores
• Online Market
• Supermarket/Hypermarket

Personal Accessories Market, by Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Personal Accessories Market.

Available Customization

The analyst offers customization according to your specific needs. The following customization options are available for the report:

• Detailed analysis and profiling of additional market players (up to five).

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