Global Accessories Market to 2028

Global Accessories Market to 2028

Summary

This report offers an analysis of both the historic and forecast data of the global accessories market through to 2028. It provides a brief of the key trends along with sales and growth across different regions and channels. It also highlights the global accessories brands and their current competitive position.

In 2023, the global accessories market grew 3.2%, remaining weaker than both clothing and accessories due to the category being easier to cut back on, with a decline of 0.6% to reach $196.8bn expected in 2024. The luxury segment is expected to see the largest increase in market share, projected to increase by 2.3ppts between 2023 and 2028 to reach 33.0%. This growth is driven by ultra-wealthy shoppers who have been relatively unaffected by economic challenges.

Scope

• The market is expected to witness a CAGR of 2.2% between 2023 and 2028, aided by the recovering economy
• The online channel is expected to outperform, reaching an online penetration of 26.3% by 2028
• Gucci and Louis Vuitton are both seeing their shares fall, as aspirational shoppers’ savings wane

• Gain a comprehensive view of the global accessories market to 2028
• Explore new opportunities that will allow you to align your product offerings and strategies to meet demand following the impact of inflation on the global accessories market
• Investigate current and forecast trends in the global accessories market to identify the opportunities offering the most potential
• Understand who the main players are in the global accessories market and gain insights into their market share