Editor’s Note
This article contains conflicting market size estimates for the global fashion accessories industry in 2024. Readers are advised to consult primary sources or the latest market reports for definitive figures. The core trend of significant projected growth remains clear.
The global fashion accessories market size was estimated at USD 814.63 billion in 2024. The market is projected to grow from USD 1,002.77 billion in 2025 to USD 4,294.23 billion in 2032, exhibiting a CAGR of 8.19% during the forecast period. The global fashion accessories market size was estimated at USD 1,079.60 billion in 2024. The market is expected to grow from USD 1,143.52 billion in 2025 to USD 1,876.72 billion in 2032, exhibiting a CAGR of 7.33% during the forecast period. The Asia Pacific region dominated the fashion accessories market with a share of 37.86% in 2024.
Fashion accessories are products used to enhance, complement, or complete an outfit. These include products 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 an essential element of personal style. The increasing consumer preference for personal expression and style is boosting the demand for fashion accessories. Manufacturers such as Kering S.A., Richemont S.A., Hermes International S.A., and Luxottica Group SpA are engaged in producing high-quality fashion accessories using bio-based materials and environmentally friendly manufacturing processes.
Rising Consumer Awareness of Fashionable Products to Promote Market Growth
The increasing consumer awareness of fashionable accessories due to factors such as exposure to global trends through digital influencers, social media marketing, and e-commerce is driving the growth of the global fashion accessories market. This growing awareness boosts the demand for innovative, trendy, and personalized accessories such as jewelry, luxury handbags, and designer eyewear.
Increasing Urbanization and Changing Lifestyle to Promote Market Growth
Increasing urbanization due to rising disposable income, a growing workforce, expanding modern retail infrastructure, and exposure to fashion trends is driving the global growth of the fashionable accessories market. According to the United Nations Department of Economic and Social Affairs, more than 56% of the world’s population lives in urban areas, and this proportion is expected to rise to nearly 70% by 2050. The increasingly changing lifestyle and growing preference for stylish, versatile, and functional accessories are promoting market growth. Furthermore, increasing metro-centric work cultures, social gatherings, and digital connectivity are boosting the demand for designer bags, smartwatches, eyewear, and jewelry that combine fashion with practicality.
Counterfeiting of High-Quality Fashion Accessories Limits Market Growth
The increasing counterfeiting of products such as jewelry, handbags, wallets, and footwear limits market growth.