Editor’s Note
This article examines the fashion accessories market, highlighting its role in personal style and key growth drivers like consumer demand for self-expression. It provides an overview of major industry players and market dynamics.
Fashion accessories are products used to enhance, complement, or complete an outfit. These include items such as watches, jewelry, belts, scarves, handbags, and wallets. Furthermore, fashion accessories play a crucial role in fashion by adding color, texture, and interest, making them a significant element of personal style. The growing consumer preference for personal expression and style is increasing the demand for fashion accessory products. Manufacturers such as Kering S.A., Richemont S.A., Hermès International S.A., and Luxottica Group SpA are adopting bio-based materials and environmentally friendly manufacturing processes to produce high-end fashion accessories and smart wearable devices. Additionally, the growing influence of fashion celebrities and collaborations between luxury and streetwear brands are further enhancing the appeal of fashion accessories. Moreover, rising consumer preference for branded fashion accessories and increasing focus on circular fashion styles, emphasizing waste reduction through upcycling and recycling practices, are key trends.
The proliferation of counterfeit high-end fashion accessories, such as jewelry, handbags, wallets, footwear, and sunglasses, particularly in developing countries like China, India, Japan, Thailand, and Vietnam, constrains global market growth. Counterfeit products negatively impact brand image, reduce sales, weaken consumer trust, bypass safety and ethical standards, expose consumers to harmful materials and unsafe designs, and adversely affect future purchasing decisions.
Conversely, the growing popularity of environmentally friendly and ethically produced products like wallets, handbags, and jewelry is driving global market growth. International brands are adopting sustainable materials such as recycled metals, organic cotton, and vegan leather to produce sustainable accessories. Furthermore, leading brands like Kering, LVMH, and Hermès are heavily investing in innovation to reduce carbon emissions and harmful chemicals in their product lines. Government and regulatory initiatives, such as the EU’s Circular Economy Action Plan and India’s PM MITRA (Mega Integrated Textile Region and Apparel) scheme, encourage sustainable practices in the textile and fashion industry, influencing manufacturing standards and consumer expectations. Consequently, the increasing adoption of eco-friendly materials by brands and growing consumer awareness of sustainable accessories are further propelling market growth.
In 2024, the global fashion accessories market size was valued at USD 1,079.6 billion. The market is projected to grow from USD 1,143.52 billion in 2025 to USD 1,876.72 billion by 2032, exhibiting a CAGR of 7.33% during the forecast period. In 2024, the Asia Pacific region dominated the fashion accessories market with a 37.86% share.
By Product Type: The market is segmented into jewelry, watches, handbags & wallets, and others. The jewelry segment is expected to dominate the global market during the forecast period due to its strong cultural, emotional, and aesthetic value. Rising disposable incomes, especially in emerging nations, are stimulating demand for fine and fashion jewelry. The handbags & wallets segment is projected to record the highest CAGR, driven by their growing popularity as gifts and increased exposure to trends via e-commerce and social media.
By Demographics: The market is segmented into men, women, children, and unisex. The women’s segment is anticipated to hold the largest market share, supported by a wide variety of accessories and cultural emphasis on appearance. The men’s segment is expected to grow at a CAGR of 7.45%, driven by urbanization, rising disposable income, evolving work culture, and the influence of social media and celebrity endorsements.
By Distribution Channel: The market is segmented into hypermarkets/supermarkets, specialty stores, e-commerce/online, and others. Hypermarkets/supermarkets lead the market due to high footfall, convenience, and competitive pricing. The e-commerce/online segment is projected to record the highest CAGR, fueled by wide product variety, accessibility, convenience, and personalized recommendations.
North America: Expected to grow at the highest CAGR, driven by high disposable income, strong digital influence from social media and celebrities, and consumer prioritization of self-expression and personal style.
Europe: Demand is growing due to rising disposable incomes, heightened fashion consciousness, technological advancements, booming tourism, and a focus on personalized style.
Asia Pacific: Dominates the global market. Growth is driven by rapid urbanization, population growth, rising disposable incomes, a burgeoning working population, and increasing spending by the middle class on lifestyle and fashion products. The popularity of fast fashion and affordable luxury further stimulates demand.
South America: Expected to grow rapidly, stimulated by the easy availability of fashion accessories on online sales channels like Amazon, Mercado Livre, and Magazine Luiza.
Middle East & Africa: Expected to grow at a significant CAGR, supported by increased social media advertising by major manufacturers and growing consumer awareness of personal grooming and appearance enhancement.
Key industry players are focusing on geographic expansion to strengthen their presence. Intensifying competition encourages companies to enhance brand loyalty and influence. Major companies profiled include Kering S.A. (France), Richemont S.A. (Switzerland), Hermès International S.A. (France), LVMH Moët Hennessy Louis Vuitton SE (France), Inditex SA (Spain), Luxottica Group SpA (Italy), Prada S.p.A. (Italy), Coach, Inc. (U.S.), Adidas AG (Germany), and Under Armour, Inc. (U.S.).
Key Industry Developments:
• May 2025: Bagzone Lifestyle Pvt. Ltd., an India-based manufacturer, launched a new modern luxury handbag, Akiki London.
• October 2024: Titan Company, an India-based manufacturer, launched a new fashion-first collection of smartwatches.
• May 2024: Timex Group Luxury Watches B.V., an India-based designer and manufacturer, launched the UNLTD watch collection on Flipkart.
• February 2024: Xiaomi Inc., a consumer electronics manufacturer, launched the Xiaomi Watch 2 in Europe and the UK.
• August 2022: Samsung Electronics Co., Ltd., focused on consumer and industrial electronics, launched the Samsung Galaxy Watch5 and Samsung Galaxy Watch5 Pro.