The global personal accessories market was valued at USD473.46 billion in 2020 and is projected to grow at a CAGR of 7.93% during the forecast period to reach USD738.52 billion by 2026, on account of the rising personal disposable income and growing demand for luxury products and personal accessories that are designed according to the taste and preference of consumers. These personal accessories are found at in different sizes and shapes and can also be customized according to customers’ requirements, contributing to the huge demand for personal accessories.
More and more consumers are adopting luxury and fashionable lifestyle that enhances their dressing style and personality. Features of personal accessories include accessibility, stylish touch, and easy handling, and their basic uses has framed a trend among consumers, which is a considerable change in the past few years. Because of the increasing trend for fashion and accessories, the personal accessories companies are adding innovations to their product to meet the requirement of the consumers. Personal accessories products such as watches, eyewear, bags, wallets, and other products like cardholders and belts have also increased demand among the buyers as these products are designed in new shapes and patterns.
The global personal accessories market can be segregated into product type, end-user and distribution channels, company, and region. On the basis of distribution channel, personal accessories market is categorized into exclusive retailers, multi-brand retailers, specialty retailers, online market, and supermarket/hypermarket. Among these distribution channels, the online market is expected to grow at a rapid CAGR of over 9% during 2021-2026F and is expected to be the fastest-growing distribution channel in the forecast period providing a wide range of personal accessories to customers.
Regionally, the Personal accessories market has been segmented into Asia Pacific, North America, South America, Europe, and Middle East & Africa. Among these regions, Europe is expected to grow at a rapid CAGR of over 8.00% during 2021E-2026F and is expected to be the fastest-growing region in the forecast period due to increase in sales volume of personal accessories products such as jewelry, bags, and watches, etc.
Moreover, cities like Milan in Europe, which is also known as the global capital of design and fashion has a huge demand for personal accessories products.
LVMH Moët Hennessy Louis Vuitton, Compagnie Financière Richemont SA, Apple Inc., The Swatch Group Ltd, Kering Group, etc., are a few of the prominent players operating in the global personal accessories market. Personal accessories companies are enhancing their product portfolio and focusing on expansion through mergers and acquisitions. LVMH Moët Hennessy Louis Vuitton is one of the world’s leading fashion companies, which has acquired luxury jewelry company Tiffany & Co. This merger and acquisition have helped the company expand its business, innovate new product lines, increase its product portfolio, and grow its revenue.
Years considered for this report
Historical Years2016-2019
Base Year2020
Estimated Year2021E
Forecast Period2022F-2026F
Objective of the Study
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marketinsights Research performed both primary as well as exhaustive secondary research for this study. Initially, marketinsights Research sourced a list of manufacturers across the globe. Subsequently, marketinsights Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, marketinsights Research could include the manufacturers which could not be identified due to the limitations of secondary research. marketinsights Research analyzed the manufacturers, distribution channels and presence of all major players across the globe.
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Key Target Audience
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The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope
In this report, global personal accessories market has been segmented into the following categories, in addition to the industry trends which have also been detailed below
- Global Personal Accessories Market, By Product Type
- Jewelry
- Bags & Wallet
- Watches
- Others (Eyewear, Belt, Caps, etc)
- Global Personal Accessories Market, By End User
- Global Personal Accessories Market, By Distributional Channel
- Exclusive Stores
- Multi-Brand Stores
- Specialty Stores
- Online Market
- Supermarket/Hypermarket
- Global Personal Accessories Market, By Region
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- North America
- United States
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
