Like the apparel market, the Accessories market is developing dynamically. It comprises wearable, fashionable accessories that complement a person's outfit such as Watches, Jewelry, Suitcases, Bags, Wallets, Handbags and other containers for private end consumers. The Accessories market consists of two segments: Watches & Jewelry and Luggage & Bags. The largest share is generated by the Watches & Jewelry segment, in particular due to sales in the Jewelry market. In 2019, the worldwide Accessories market realized a total revenue of US$511 billion. At US$1,263 per capita, people of Hong Kong spent the largest share on Accessories, followed by Singapore and Switzerland. In this market report, growth potentials, market drivers, consumer insights, key players, and future developments are discussed from an international perspective.
The Accessories market is, like the Apparel market, rapidly evolving. It comprises wearable, fashionable accessories that complement a person's outfit such as watches, jewelry, suitcases, bags, wallets and handbags for private end consumers. The market is divided into two segments: Watches & Jewelry and Luggage & Bags. This report from the series of Consumer Market Outlook reports gives an overview of the Accessories market from an international perspective. Besides all relevant market figures like total and per capita revenues for the years from 2012 to 2025, we furthermore give detailed insights into current trends, key players and important background information on the Accessories market. In general, the Accessories market is expected to grow at a CAGR of 1.7% between 2012 and 2025. Both segments within the Accessories market are growing by more than 5% between 2019 and 2025. However, the Watches & Jewelry segment shows the highest growth potential and is expected to increase by 6.3%, reaching US$366 billion in 2025.
Note: CAGR: Compound Annual Growth Rate / average growth rate per year