Market Size of Europe Fashion Accessories Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 11.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Fashion Accessories Market Analysis
The European fashion accessories market is expected to register a CAGR of 11.5% during the forecast period.
One of the factors driving the fashion accessories market is the increasing trend of eco-fashion. Companies are making conscious efforts to choose the best quality materials that are soft and comfortable and do not have a detrimental effect on the environment. For example, German brands like OGNX, Mandala, Jaya Organics, Magadi, and Ambiletics use the latest eco-friendly solutions and strive to source innovative and sustainable material for their accessory collections, including t-shirts, leggings, sweatpants, and others. In July 2022, apparel manufacturers in Leicester, United Kingdom, formed a federation to establish the area as a sustainable manufacturing hub for British fashion. In addition, innovations in design, material, and fit are expected to favor the market's growth in the coming years. For instance, in the case of apparel, consumers are more attracted to color, fabric, and style, encouraging the manufacturers to introduce trendy apparel suitable for various activities, including formal meetings, outdoor activities, sports activities, and others. In 2022, Lululemon, the renowned Canadian activewear retailer, announced its entry into Spain, and it is coming up with a Spanish version of its e-commerce site.
Furthermore, during the forecast period, the European fashion accessories market is expected to be driven by factors such as changes in consumer lifestyles, greater household expenditure, favorable demographics, and a shift in demand for branded products. In some regions across Europe, consumers have been observed to spend highly on fashion accessories, boosting the sales of such products in the market. For example, online retail sales for clothing increased to an all-time high of 31% in 2020 owing to the increasing online shopping trend during the COVID-19 pandemic, according to the data published by the UK Fashion and Textiles Industry. Thus, the increasing consumer spending on clothing is further expected to drive the growth of the fashion accessories market in Europe.
Europe Fashion Accessories Industry Segmentation
A fashion accessory is anything that is utilized to enhance a person's attire in a secondary way. The European fashion accessories market is segmented by product type, end user, distribution channel, and geography. By product type, the market is segmented into footwear, apparel, wallets, handbags, watches, and other products. Based on the end user, the market is segmented into men, women, kids/children, and unisex. By distribution channel, the market is segmented into the offline channel and online channel. By geography, the market is segmented into Spain, the United Kingdom, Germany, France, Italy, Russia, and the rest of Europe. For each segment, the market sizing and forecasts have been provided in terms of value (in USD million).
| By Product Type | |
| Footwear | |
| Apparel | |
| Wallets | |
| Handbags | |
| Watches | |
| Other Products |
| By End User | |
| Men | |
| Women | |
| Kids/Children | |
| Unisex |
| By Distribution Channel | |
| Offline Channel | |
| Online Channel |
| By Geography | |
| Spain | |
| United Kingdom | |
| Germany | |
| France | |
| Italy | |
| Russia | |
| Rest of Europe |
Europe Fashion Accessories Market Size Summary
The European fashion accessories market is poised for significant growth, driven by the rising trend of eco-fashion and sustainable practices. Companies across the region are increasingly prioritizing the use of eco-friendly materials and innovative designs to meet consumer demand for stylish yet environmentally conscious products. This shift is exemplified by German brands like OGNX and Mandala, which focus on sustainable materials for their accessory collections. The market is also benefiting from the growing popularity of online shopping, which has been accelerated by the COVID-19 pandemic. The convenience of e-commerce, coupled with the increasing internet penetration in Europe, has led to a surge in online sales of fashion accessories. Platforms like Ozon and Italian Collection are capitalizing on this trend by offering a wide range of designer and artisan products, catering to the evolving preferences of European consumers.
The demand for luxury fashion accessories in Europe is further bolstered by the region's status as a hub for high-end goods, with countries like France and Italy producing a significant portion of the world's luxury products. The affordability of these goods in Europe, combined with the growing disposable income and purchasing power of consumers, particularly millennials, is driving market expansion. Brands such as Daniel Essa are tapping into this demand by introducing customizable luxury products, while companies like Mango are investing in logistics and e-commerce capabilities to enhance their market presence. The market is characterized by a high level of fragmentation, with numerous players employing strategies like product innovation and sustainability to maintain competitiveness. Major companies such as LVMH, Chanel, and Adidas are actively participating in this dynamic market, contributing to its robust growth trajectory.
Europe Fashion Accessories Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Product Type
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2.1.1 Footwear
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2.1.2 Apparel
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2.1.3 Wallets
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2.1.4 Handbags
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2.1.5 Watches
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2.1.6 Other Products
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2.2 By End User
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2.2.1 Men
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2.2.2 Women
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2.2.3 Kids/Children
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2.2.4 Unisex
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2.3 By Distribution Channel
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2.3.1 Offline Channel
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2.3.2 Online Channel
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2.4 By Geography
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2.4.1 Spain
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2.4.2 United Kingdom
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2.4.3 Germany
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2.4.4 France
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2.4.5 Italy
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2.4.6 Russia
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2.4.7 Rest of Europe
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Europe Fashion Accessories Market Size FAQs
What is the current Europe Fashion Accessories Market size?
The Europe Fashion Accessories Market is projected to register a CAGR of 11.5% during the forecast period (2024-2029)
Who are the key players in Europe Fashion Accessories Market?
Industria de Diseño Textil, S.A., Adidas AG, LVMH Moet Hennessy Louis Vuitton, H & M Hennes & Mauritz AB and Chanel are the major companies operating in the Europe Fashion Accessories Market.
