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Global accessories market to grow


global-accessories-marketBy demographics, the accessories market is segregated into men’s, women’s, and children’s. Among these, women’s segment could become highly attractive in the global accessories market. The global accessories market is rising at a compound annual growth rate of 4.6 per cent. Among different types of products offered in the market, handkerchiefs currently secure a nearly 14 per cent share in terms of revenue sales. Other segments are hats, gloves, neckties, jewelry, eyewear, scarves, handbags and belts.

In sales channel, the global accessories market is bifurcated into online, specialty stores, franchise outlets, and modern trade. Among these, modern trade is envisaged to account for a larger share of the global accessories market in the near future. It is responsible for selling a colossal volume of apparel accessories each year. By price, the accessories market is divided into super-premium, premium, mid, and economy. Economically priced products account for a 39 per cent share of the global accessories market. The market may witness a decline in sales in terms of both value and volume. Influx of counterfeit products and the ongoing economic concerns in some countries could hamper demand significantly. Moreover fast fashion companies are expected to pose some threat to established players in the accessories market.