As per a revised report published by Fact.MR, the appeal accessories market is anticipated to surpass US$ 12.6 Bn in 2021, and expand at a CAGR close to 6% over the next ten years. Popularity of economical apparel accessories has been observed in the past few years. The foremost driving factor for the sales of economical apparel accessories is surging demand from developing economies. A larger chunk of demand comes from these regions where consumers are pretty price-sensitive.
Asia Pacific accounts for more than 30% market share, followed by North America and Europe. This is due to rapid industrialization and easy availability of raw materials. Online sales channels have witnessed enormous growth in the past year due to the outbreak of COVID-19. Relaxations in trade restrictions after the initial lockdowns, especially in developing economies, will further bolster demand.
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Key Takeaways from Market Study
- According to Fact.MR, East Asia dominates the global apparel accessories market, and is foreseen to maintain its dominance in terms of market share over the forecast period. This regional market is estimated to expand at a CAGR of around 6% through 2031.
- China is estimated to account for more than 80% of the East Asia volume share by the end of forecast period.
- Revenue from economical appeal accessories is anticipated to increase at a CAGR of close to 6% over the next ten years, and reach US$ 8.5 Bn by 2031.
- Asia Pacific dominated the global market and accounted for around US$ 6.5 Bn in 2031, which was nearly 30% of the global market share.
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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
- Sales Channel
- Apparel Accessories Sold through Modern Trade
- Apparel Accessories Sold at Franchise Outlets
- Apparel Accessories Sold at Specialty Stores
- North America
- Latin America
Report Benefits & Key Questions Answered
- Apparel Accessories Market Category and segment level analysis: Fact MR provides a detailed analysis of the factors influencing sales growth across key segments. It highlights key growth drivers and provides useful information for identifying sales prospects at the regional and local level.
- Apparel Accessories Market Historical volume analysis: The report provides a comparison of Canned Cocktails Market historical sales and projected sales performance for 2021-2031.
- Apparel Accessories Market Manufacturing trend analysis: The report offers a detailed analysis of manufacturing trends in the Apparel Accessories Market It carefully gauges the impact of changing healthcare needs of key demographics globally
- Apparel Accessories Market Consumption by demographics: The report investigates consumer behavior affecting Apparel Accessories Market demand outlook for the assessment period. Effect of their keenness for digital trends on Apparel Accessories Market is carefully analyzed
- Post COVID consumer spending on Apparel Accessories Market Consumption: Healthcare industry has been largely influenced by COVID-19 pandemic. The Fact MR Market survey analyzed consumer spending post COVID-19. It assesses how current trends that will influence expenditure on healthcare services, thus affecting Apparel Accessories Market growth.
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