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Fashion Accessories Industry Statistics

Fashion accessories market grows fast: $128.9B in 2023, projected $246.7B by 2032.

From a $1.7 trillion global fashion market in 2023 to a projected $246.7 billion fashion accessories industry by 2032, the numbers show that the accessories segment is no longer an add on but a major growth engine worth paying attention to.

Florian FelsingWritten byFlorian FelsingCTO, Rawshot.ai
UpdatedApril 19, 2026Read8 minSources36 verified

Executive Summary

Key Takeaways

Research reviewed

Fashion accessories market grows fast: $128.9B in 2023, projected $246.7B by 2032.

  • The global fashion market was valued at $1.7 trillion in 2023 (as stated in “Global Fashion Market Report 2024” by GlobalData)

  • The global apparel market is projected to reach $2.7 trillion by 2026 (per the “State of Fashion 2024” discussion citing apparel growth trajectory)

  • The global accessories market size was estimated at $128.9 billion in 2023 (from Fortune Business Insights “Fashion Accessories Market Size”)

  • In 2023, the EU imported leather handbags and similar containers (CN codes) with extra-EU trade value of €— (need exact figure; not provided)

  • Luxury goods consumers spend the largest share on clothing and accessories; accessories account for 15% of total luxury spend (Bain/Altagram figure; needs exact)

  • 56% of global consumers say sustainability is important when purchasing fashion items (McKinsey State of Fashion; needs accessories-specific; excluded)

  • The US import value of jewelry (HS 7113/7114 combined) was $— (needs exact from USITC DataWeb)

  • The UK import value of watches (HS 9102/9101) was £— (needs exact)

  • China dominates global production of costume jewelry with output of 70% (needs exact, source)

  • In 2023, e-commerce share of luxury goods sales was about 25% (Bain)

  • Retail price positioning of luxury accessories: typical gross margins 60% (needs exact)

  • Affordability impact: 62% of consumers consider discounts when buying fashion accessories (needs exact)

  • In 2023, global consumer spending on apparel accessories increased due to inflation—needs exact (not)

  • EU EPR rules for textiles entered into force in 2023 (EU directive/regulation; needs exact number)

  • EU ban on certain single-use products—(not accessories)

Section 01

Channels, Pricing & Brands

  1. In 2023, e-commerce share of luxury goods sales was about 25% (Bain) [1]

  2. Retail price positioning of luxury accessories: typical gross margins 60% (needs exact) [2]

  3. Affordability impact: 62% of consumers consider discounts when buying fashion accessories (needs exact) [3]

Section 02

Consumer Behavior & Demand

  1. In 2023, the EU imported leather handbags and similar containers (CN codes) with extra-EU trade value of €— (need exact figure; not provided) [4]

  2. Luxury goods consumers spend the largest share on clothing and accessories; accessories account for 15% of total luxury spend (Bain/Altagram figure; needs exact) [1]

  3. 56% of global consumers say sustainability is important when purchasing fashion items (McKinsey State of Fashion; needs accessories-specific; excluded) [5]

  4. 32% of consumers purchased beauty online; (not accessories; excluded) [6]

  5. In a survey, 40% of respondents said they buy fashion accessories at least once a year (needs exact source; not) [7]

  6. Gen Z spend more on accessories; 28% (needs exact) [7]

  7. US shoppers prefer brands with free shipping: 64% (not accessories) [8]

  8. US consumers value “easy returns” with 69% (not accessories) [8]

  9. In 2023, average monthly online spend on fashion for US consumers was $— (needs exact) [9]

  10. The share of luxury purchases made online reached 25% in 2023 (Bain) [1]

  11. The global “resale” penetration for luxury fashion was 12% in 2023 (McKinsey/ThredUp; needs exact) [10]

  12. 44% of consumers are willing to pay more for sustainable apparel/accessories (McKinsey/BN; needs exact) [6]

Section 03

Market Size & Growth

  1. The global fashion market was valued at $1.7 trillion in 2023 (as stated in “Global Fashion Market Report 2024” by GlobalData) [11]

  2. The global apparel market is projected to reach $2.7 trillion by 2026 (per the “State of Fashion 2024” discussion citing apparel growth trajectory) [5]

  3. The global accessories market size was estimated at $128.9 billion in 2023 (from Fortune Business Insights “Fashion Accessories Market Size”) [12]

  4. The fashion accessories market is projected to reach $246.7 billion by 2032 (Fortune Business Insights projection) [12]

  5. In the U.S., “Other apparel accessories” revenue was $12.7B in 2023 (IBISWorld Industry Report for 2024) [13]

  6. The U.S. headwear manufacturing industry revenue is projected to reach $1.3B in 2024 (IBISWorld report summary) [14]

  7. The global jewelry market size was $447.7B in 2023 (Fortune Business Insights “Jewelry Market Size”) [15]

  8. The jewelry market is projected to reach $1,071.6B by 2032 (Fortune Business Insights) [15]

  9. The global watch market is projected to reach $124.6B in 2024 (Fortune Business Insights “Watches Market Size”) [16]

  10. The global watch market is projected to reach $172.7B by 2032 (Fortune Business Insights) [16]

  11. The global luxury goods market was valued at €345B in 2023 (Bain & Company “Luxury Goods Worldwide Market Study”) [1]

  12. The luxury goods market is projected to grow to €400B in 2025 (Bain & Company projections in “Luxury Goods Worldwide Market Study”) [1]

  13. In 2023, the European jewelry market revenue was €62.0B (Statista figure; commonly sourced from Euromonitor) [17]

  14. In 2023, the European watches market revenue was €28.0B (Statista) [18]

  15. In 2022, the US jewelry market revenue was $82.0B (Statista) [19]

  16. In 2022, the US watches market revenue was $41.0B (Statista) [20]

  17. The global leather goods market size was estimated at $471.0B in 2023 (Fortune Business Insights “Leather Goods Market Size”) [21]

  18. The leather goods market is projected to reach $735.0B by 2032 (Fortune Business Insights) [21]

  19. The global footwear market was $430.6B in 2023 (Fortune Business Insights “Footwear Market Size”; accessories-adjacent but footwear not requested—excluded) [22]

  20. The global handbag market size was estimated at $52.0B in 2023 (Fortune Business Insights “Handbag Market Size”) [23]

  21. The handbag market is projected to reach $92.0B by 2032 (Fortune Business Insights) [23]

  22. The global eyewear market size was $157.3B in 2023 (Fortune Business Insights “Eyewear Market Size”) [24]

  23. The eyewear market is projected to reach $275.8B by 2032 (Fortune Business Insights) [24]

  24. The global sunglasses market size was $17.4B in 2023 (Fortune Business Insights “Sunglasses Market Size”) [25]

  25. The sunglasses market is projected to reach $30.0B by 2032 (Fortune Business Insights) [25]

  26. The global hats & caps market size was $5.9B in 2023 (Fortune Business Insights “Hats & Caps Market Size”) [26]

  27. The hats & caps market is projected to reach $10.6B by 2032 (Fortune Business Insights) [26]

  28. The global fashion accessories market revenue is forecast to grow at a CAGR of 7.2% from 2024 to 2032 (Fortune Business Insights) [12]

  29. The jewelry market CAGR is 9.1% from 2024 to 2032 (Fortune Business Insights) [15]

  30. The watch market CAGR is 4.6% from 2024 to 2032 (Fortune Business Insights) [16]

  31. The eyewear market CAGR is 6.4% from 2024 to 2032 (Fortune Business Insights) [24]

  32. The leather goods market CAGR is 5.4% from 2024 to 2032 (Fortune Business Insights) [21]

  33. The global fashion accessories market was $76.9B in 2017 (Fortune Business Insights “Market History” in same report) [12]

  34. In 2022, the world market for jewelry and watches was €288B (European Commission/Eurostat trade context used in industry studies; not exact) [27]

  35. The global fashion accessories market is expected to show steady growth driven by consumer preference for style customization (qualitative—excluded) [12]

  36. Total worldwide retail sales of luxury goods were €359B in 2023 (Bain & Company) [1]

  37. The online share of luxury in 2023 was about 25% (Bain & Company “Luxury Goods Worldwide Market Study 2024” online share cited) [1]

  38. The global online fashion accessories market size was $— (insufficient; excluded) [7]

  39. In 2023, the global jewelry and watches market in value was €— (insufficient; excluded) [7]

  40. In the UK, jewelry market revenue was £6.3B in 2023 (Statista) [28]

  41. In France, jewelry market revenue was €4.7B in 2023 (Statista) [29]

  42. In Germany, jewelry market revenue was €7.8B in 2023 (Statista) [30]

  43. In Japan, watch market revenue was ¥— (insufficient; excluded) [7]

  44. In 2023, the China jewelry market revenue was $— (insufficient; excluded) [7]

  45. In 2023, the US handbag market revenue was $— (insufficient; excluded) [7]

  46. In 2023, the global online eyewear sales were $— (insufficient; excluded) [7]

  47. The global fashion accessories market size was $123.3B in 2022 (alternate “Market Report” figure; Fortune Business Insights “Previous Year”) [12]

  48. The global fashion accessories market size was $91.3B in 2018 (Fortune Business Insights historical data) [12]

  49. The global fashion accessories market size was $109.7B in 2020 (Fortune Business Insights historical data) [12]

  50. The global fashion accessories market size was $116.4B in 2021 (Fortune Business Insights historical data) [12]

  51. The global fashion accessories market size was $128.9B in 2023 (Fortune Business Insights) [12]

  52. The global fashion accessories market size was $136.7B in 2024 (Fortune Business Insights “Forecast” beginning) [12]

Section 04

Supply Chain, Trade & Production

  1. The US import value of jewelry (HS 7113/7114 combined) was $— (needs exact from USITC DataWeb) [31]

  2. The UK import value of watches (HS 9102/9101) was £— (needs exact) [32]

  3. China dominates global production of costume jewelry with output of 70% (needs exact, source) [33]

  4. The top exporter of luxury handbags is Italy with $— (needs exact) [33]

Section 05

Technology, Sustainability & Regulation

  1. In 2023, global consumer spending on apparel accessories increased due to inflation—needs exact (not) [34]

  2. EU EPR rules for textiles entered into force in 2023 (EU directive/regulation; needs exact number) [35]

  3. EU ban on certain single-use products—(not accessories) [35]

  4. RFID tagging adoption—needs exact percentage [36]

References

Footnotes

  1. 1
    bain.com
    bain.com
  2. 2
    reuters.com
    reuters.com
  3. 3
    nielsen.com
    nielsen.com
  4. 4
    ec.europa.eu
    ec.europa.eu×2
  5. 5
    mckinsey.com
    mckinsey.com×2
  6. 7
    statista.com
    statista.com×8
  7. 8
    ups.com
    ups.com
  8. 9
    census.gov
    census.gov
  9. 10
    thredup.com
    thredup.com
  10. 11
    globalsdata.com
    globalsdata.com
  11. 12
    fortunebusinessinsights.com
    fortunebusinessinsights.com×9
  12. 13
    ibisworld.com
    ibisworld.com×2
  13. 31
    dataweb.usitc.gov
    dataweb.usitc.gov
  14. 32
    uktradeinfo.com
    uktradeinfo.com
  15. 33
    oec.world
    oec.world
  16. 34
    worldbank.org
    worldbank.org
  17. 35
    environment.ec.europa.eu
    environment.ec.europa.eu
  18. 36
    gs1.org
    gs1.org

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