USD 2.09 trillion
Clothing Footwear Accessories Market Size, Share, Growth Analysis, By Distribution channel(Online and offline channel), By End user(Men, women, kid, unisex), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25K2068 |
Region:
Global |
Published Date: April, 2024
Pages:
223
|Tables:
62
|Figures:
80
Clothing Footwear Accessories Market Insights
Clothing Footwear Accessories Market size was valued at USD 2.09 trillion in 2022 and is poised to grow from USD 2.19 trillion in 2023 to USD 3.21 trillion by 2031, at a CAGR of 4.9% during the forecast period (2024-2031).
Clothing footwear accessories are fashion products that enjoy vast popularity among the people seeking a certain flair and young generations. The rising consumer perspective on personal grooming and dynamic changing wearable hype around the world that increase to raise the market. The Company includes a wide range of Companies that are targeting to create application-specific and highly comfortable use of fashion accessories in order for them to increase their market presence or presence in the targeted groups. One of the factors contributing most to growing consumers' demand for different clothing products and footwear accessories is these constant increasing desires by clients for high standard, top-quality and trendy wearable products. In addition, improving infrastructural facilities in the shop areas which are relevant to fashion wearable stores and clothing stores helps consumption of accessories.
The industry of clothing footwear accessories is so competitive and it needs frequent modernization, innovations development especially in the context of their design. On the other hand, a high change in consumer trends is providing momentum to expand the clothing shoes accessories market. The proportion of the market that is to be ascribed to developing nations, especially India, is increasing. This is attributed to change in the behaviours of consumers, thereby leading to increased patterns of purchase. Furthermore, this has also been attributed to increasing population which is urban and others. The other way round is to consider the fact that the presence of the internet, social media, and e-commerce now provides the consumers with a more appropriate method to buy this product.
US Clothing Footwear Accessories Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
offline
Fastest Growth
online
Growth Rate
4.9% CAGR
Global Clothing Footwear Accessories Market 2021-2030 ($ Bn)
Country Share for Asia Pacific Region- 2021 (%)
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Clothing Footwear Accessories Market Segmental Analysis
The Clothing footwear accessories market has segmented on the basis of distribution channel, end user and region. On the basis of distribution channel, it has been classified as online and offline channel. On the basis of end user it has been classified as men, women, kids and unisex. And on the basis of region it is classified as north America, Europe, Asia pacific, south America, middle-east and Africa.
Analysis by Distribution Channel
In terms of distribution channel, online channels offer the consumer to buy Clothing footwear accessories from anywhere irrespective of place and time. Moreover, it is convenient, time consuming, provides discounts, a high variety of choices available, allows the consumer to buy products internationally and offers hassle-free exchanges, this key factor enhancing its usage among the target market across the globe and increasing its adoption and hence further rising to the market growth.
Analysis by End User
Based on the end user, the women segment is projected to drive the market during the forecast period this is because the wide range of branded women clothing footwear accessories are available in various stores. Moreover, the men's segment is expected to grow more in the forecasting year, as men are becoming more aware regarding their appearance, wearing style and investing in branded fashion accessories.
Global Clothing Footwear Accessories Market By distribution channel 2021 (%)
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Clothing Footwear Accessories Market Regional Insights
Asia Pacific contributed a major market revenue share of Clothing footwear accessories and is expected to expand more in forecasting period Owing to high influence by the celebrity endorsements of high brand fashion accessories, Rising attraction for the luxury lifestyle, high purchasing power is the key driving factor of the market growth. Moreover, there is a rapid economic growth taking place across Asia, with countries such as India and China. Thus, India and China are becoming centers of attractive markets for clothing footwear accessories outside the Western world. The economic growth and rising tech savviness can be the next big opportunity for clothing footwear accessories during the forecast period. The Middle East & Africa is also contributing to the market expansion. Moreover, the penetration of the internet in the region is a key factor in the market growth. Therefore, Middle East & Africa is expected to grow at a significant CAGR over the forecast period.
Global Clothing Footwear Accessories Market By Geography, 2021-2030
- Largest
- Fastest
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Clothing Footwear Accessories Market Dynamics
Drivers
Rapid Change in Lifestyle and Expenditure is Bolstering Demand for In-Trend Clothing Footwear and Accessories
- Changing lifestyle, Rising disposable income and continuous changing fashion trend boosting the customer Demand for the premium and fashion wearable accessories. Moreover, the fashion industry influences people to use and wear clothings footwear and other accessories with the changing trend. Which has diverted the consumer mind toward fashion wearable accessories and this is the key driving factor for the growth of cloth footwear accessory market. And it is expected that this can boost the market in the forecasting year.
Restraints
Cheap Quality of Materials to Hinder Market Growth
- With the time and changing lifestyle the people's preference has also diverted to some extent. Nowadays People prefer to use high quality, fashionable, long durable or branded products which require a high standard of raw material, innovative technology and equipment. Moreover, the prices of raw material are running high. Thus, The higher cost of clothing footwear accessories are anticipated to the restraints market growth.
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Clothing Footwear Accessories Market Competitive Landscape
Global Clothing Footwear Accessories Market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Top Player's Company Profiles
- Nike
- Adidas
- Inditex (Zara)
- H&M
- VF Corporation
- Fast Retailing (Uniqlo)
- Lululemon Athletica
- PVH Corp (Tommy Hilfiger, Calvin Klein)
- Ralph Lauren Corporation
- Kering (Gucci, Saint Laurent, Bottega Veneta)
- The Gap Inc.
- Under Armour
- Burberry Group
- Luxottica Group
- Capri Holdings Limited (Michael Kors, Versace, Jimmy Choo)
- Tapestry Inc. (Coach, Kate Spade, Stuart Weitzman)
- Hermès International S.A.
- LVMH Moët Hennessy Louis Vuitton S.E. (Louis Vuitton, Dior, Fendi, Givenchy)
- Columbia Sportswear Company
- Skechers USA Inc.
Recent Developments
- In April 2024, US-headquartered online children’s clothing subscription service Kidpik and Nina Footwear, a brand specialising in dress shoes and accessories, made a definitive merger agreement. As part of the all-stock transaction, Nina Footwear stockholders will receive 80% of the shares in Kidpik common stock.
- In February 2024, international leader in fashion footwear and accessories, ALDO, an esteemed brand under the Apparel Group umbrella, launched its annual Ramadan 2024 Collection campaign, featuring Middle Eastern singer, actress and superstar, Myriam Fares.
- In February 2024, Guess made the first acquisition in its 43-year history with deal to acquire trendy New York brand Rag & Bone.
- In September 2022, Tommy Hilfiger X Richard Quinn launched a new capsule collection called ‘Tommy Hilfiger X Richard Quinn Fall 2022.’ This partnership brings together Quinn’s directorial sense of bold patterns, exaggerated silhouettes and shapes as well as Hilfiger’s iconic American classic looks such as the varsity jacket, 5-pocket jean, chino or waistcoat.
- In October 2022, the women’s handbag brand of House of Titan IRTH, which offers an array of products women can use on their night outings, weekends getaways and some work days has been officially presented. This launch would be enabling the firm to make up to Rs 1000 crores annual turnover in one year or even less than it.
Clothing Footwear Accessories Key Market Trends
- The increasing awareness of Athleisure is the key Market trend for clothings Footwear accessories. Consumers across the globe are looking for various sports equipment such as sportswear, clothing, footwear and other accessories. The rising awareness towards more active lifestyles influenced the demand for leisure activities such as running and cycling gears worldwide. The rise in the number of sports and fitness activities, such as aerobics, swimming, and yoga, as well as the increase in the participating number in fitness and sports activities, is supporting the growth of clothing footwear accessory market. With continuous introduction of innovative fashion accessories produced by the major brands, the growth for these accessories is anticipated to grow during the forecast period.
Clothing Footwear Accessories Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our clothing Footwear accessories market analysis, the online distribution channel and women users are the key boosting parameters for the growth of the market. Moreover, the rise in disposable income, changing lifestyle and penetration of fashion wearable trend is anticipated to the rise of clothing footwear accessory market expansion. Further, the growing infrastructure facilities such as clothing footwear accessories stores and Increasing penetration of internet and growing number of online retail platforms are projected to boost the market growth during the forecast period.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 2.09 trillion |
| Market size value in 2031 | USD 3.21 trillion |
| Growth Rate | 4.9% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Trillion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
Recent Developments
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Clothing Footwear Accessories Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Clothing Footwear Accessories Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Clothing Footwear Accessories Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Clothing Footwear Accessories Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Clothing Footwear Accessories Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Clothing Footwear Accessories Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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