According to Fact.MR, China, India, Indonesia, Malaysia, Indonesia, and Thailand are expected to account for nearly 30% of the market. Raw material availability, consistent economic growth, low-cost labour, and rising disposable income are all driving demand in these countries.
During the period 2021-2031, sales of apparel accessories are expected to grow at a close to 6% CAGR, with sales valued at around US$ 21.8 billion by 2031.
Tier-1 companies such as The Gap Inc., Hennes & Mauritz AB, NIKE, Inc., and Adidas AG, which together held around 32 percent of global revenue share in 2020, are prominent suppliers of apparel accessories.
Key Market Segments Covered
- Eye wear
- Hat Apparel
- Apparel Accessories for Men
- Apparel Accessories Women
- Apparel Accessories Children
- Economical Apparel Accessories
- Mid-range Apparel Accessories
- Premium Apparel Accessories
- Super-premium Apparel Accessories
- Apparel Accessories Sold through Modern Trade
- Apparel Accessories Sold at Franchise Outlets
- Apparel Accessories Sold at Specialty Stores
- North America
- Latin America
The majority of the companies profiled in the report have focused on launching new products and expanding their manufacturing operations in developing countries. Innovation, collaborations with key players, partnerships, strategic alliances, and the strengthening of regional and global distribution networks are all examples of strategies.
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