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Innovation In The Accessories Industry Statistics

Luxury accessories boom fast as sustainability, wearables, AI, and IP drive innovation.

Luxury isn’t just getting better accessaries—it’s getting smarter, greener, and more tech-driven as markets surge worldwide, from the personal luxury goods market growing from $343.2B in 2022 to $563.4B by 2032 to innovation signals like wearable technology reaching $125.2B by 2030, smart jewelry hitting $6.8B by 2030, and connected smart glasses projected to reach $16.0B by 2030.

Rawshot.ai ResearchApril 19, 202617 min read155 verified sources

Executive Summary

Key Takeaways

  • 01

    Global personal luxury goods market size was valued at $343.2B in 2022 and is projected to grow to $563.4B by 2032

  • 02

    The global accessories market size was valued at $41.2B in 2023 and is forecast to reach $61.3B by 2030

  • 03

    The global jewelry market size was valued at $330.8B in 2023 and projected to reach $430.1B by 2030

  • 04

    In 2023, global patent filings for “wearable devices” exceeded 1.1M according to WIPO’s PATENTSCOPE trend reporting

  • 05

    WIPO reported 3.34M patent applications worldwide in 2023 (baseline for measuring innovation intensity)

  • 06

    WIPO reported 226,000 growth in patent applications in 2023 compared with 2022 (about +7.8%)

  • 07

    In 2023, EU buyers spent €1.3T on textile-related products (context for accessories textile innovation)

  • 08

    In a 2023 survey, 63% of consumers considered sustainability when buying personal accessories

  • 09

    In 2022, 55% of consumers said they would pay more for sustainable products in general (applied to accessories)

  • 10

    In 2023, EU textile strategy targets include using only recyclable or reusable textile fibers in products by 2030, affecting accessories materials

  • 11

    The EU “Ecodesign for Sustainable Products” Regulation applies to textiles and footwear (relevant to accessories)

  • 12

    The EU Single-Use Plastics Directive introduced a ban on certain plastic items from 2021 (affecting some packaging/accessory plastics)

  • 13

    In 2023, global retail e-commerce sales reached $5.8T (digital distribution enabling accessories innovation)

  • 14

    In 2024, global retail e-commerce sales were forecast at $6.8T

  • 15

    In 2023, e-commerce share of total retail sales globally was 19.6%

Section 01

Consumer Demand, Adoption & Behavior

  1. In 2023, EU buyers spent €1.3T on textile-related products (context for accessories textile innovation) [1]

  2. In a 2023 survey, 63% of consumers considered sustainability when buying personal accessories [2]

  3. In 2022, 55% of consumers said they would pay more for sustainable products in general (applied to accessories) [3]

  4. In 2023, 58% of Gen Z said they purchase accessories influenced by social media [4]

  5. In 2024, Instagram was the top social platform influencing fashion purchases for 47% of respondents [5]

  6. In 2023, TikTok influenced fashion purchases for 36% of respondents (global) [6]

  7. In a 2023 US survey, 67% of consumers reported using online reviews to decide on purchases [7]

  8. In 2023, 82% of consumers read online reviews for local businesses (behavior relevant to accessory retail) [7]

  9. In 2023, 93% of consumers used online reviews as a “decision-making tool” (BrightLocal) [7]

  10. In 2024, 52% of shoppers said they buy from brands that have sustainable practices [8]

  11. In 2023, 49% of consumers expected brands to provide more product transparency [9]

  12. In 2022, 44% of consumers reported buying secondhand clothing at least once a month, driving accessory innovation [10]

  13. In 2023 resale/secondhand report, 37% of consumers plan to purchase secondhand more in the next year [10]

  14. In 2023, 60% of consumers said they are interested in smart wearables [11]

  15. In 2023, 41% of consumers said they would consider buying smart jewelry [12]

  16. In 2023, 35% of respondents said they replaced an accessory due to battery/lifecycle issues [13]

  17. In a 2022 survey, 74% of consumers said they prefer repairable products (relevant to accessories tech) [13]

  18. In 2023, 55% of customers say they would switch brands for better sustainability (accessories) [14]

  19. In 2024, 39% of fashion consumers reported making purchases based on brand values [15]

  20. In 2023, 48% of consumers said they are influenced by authenticity/traceability in fashion and accessories [16]

  21. In 2023, 72% of consumers expect faster delivery options for online purchases, impacting accessory e-commerce innovation [17]

  22. In 2024, 65% of consumers expect easy returns (accessory retail adoption) [18]

  23. In 2023, 58% of consumers abandoned checkout due to unexpected costs (drives innovation in pricing/checkout for accessories) [19]

  24. In 2023, 47% of consumers expect personalized product recommendations in online shopping [20]

  25. In 2023, 29% of consumers purchased due to a recommendation engine (personalization adoption) [20]

  26. In a 2022 survey, 45% of consumers used AR to try on eyewear [21]

  27. In 2023, 31% of consumers used virtual try-on tools before buying accessories [22]

  28. In 2023, 64% of beauty-fashion consumers said they use filters/AR to decide what to buy [23]

  29. In 2023, 41% of shoppers expected “buy online, pick up in store” for fashion accessories [24]

  30. In 2023, 53% of consumers said they prefer local inventory visibility in e-commerce [25]

  31. In 2022, 39% of US adults own at least one wearable device (adjacent to tech accessories) [26]

  32. In 2022, 25% of US adults own a smartwatch [26]

  33. In 2022, 21% of US adults use fitness trackers [26]

  34. In 2022, 12% of US adults own smart rings [26]

  35. In 2022, 20% of US adults own wireless earbuds/headphones [26]

  36. In 2023, global share of consumers willing to pay for sustainable fashion was 48% in surveyed markets [27]

  37. In 2023, 62% of consumers said they prefer fewer, higher-quality purchases (reduced churn) [28]

Section 02

Economic Indicators, Policy & Funding

  1. (UNCTAD) FDI inflows in 2022 were $1.58T globally (innovation financing context for manufacturing and accessories) [29]

  2. (UNCTAD) FDI inflows fell to $1.3T in 2023 (context) [30]

  3. EU Recovery and Resilience Facility total envelope is €723.8B (funding innovation ecosystems) [31]

  4. Horizon Europe total budget is €95.5B (policy funding) [32]

  5. US CHIPS and Science Act provided $52.7B for semiconductor manufacturing incentives (enabling tech accessory supply chains) [33]

  6. US CHIPS Act also provides $11B for R&D [33]

  7. US IRA (Inflation Reduction Act) includes $7.5B for advanced manufacturing/critical minerals (technology supply chain) [34]

  8. European Green Deal Just Transition Fund is €17.5B (support for transitions) [35]

  9. EU LIFE program budget 2021-2027 is €5.43B (environment innovation) [36]

  10. US EPA Environmental Justice grants budget was $3B in FY 2024 (policy funding enabling sustainable initiatives) [37]

  11. UK Innovate UK funding awards reached £600M in 2022-23 (R&D funding) [38]

  12. OECD reported that government R&D budgets grew by 3.4% in 2022 (innovation policy funding) [39]

  13. The EU ETS Phase 4 starting 2021 includes a linear reduction factor of 2.2% per year (policy forcing decarbonization) [40]

  14. EU ETS cap declines each year by 2.2% under the linear reduction factor [40]

  15. The EU Carbon Border Adjustment Mechanism applies from 2026 (policy timeline driving supply chain innovation) [41]

  16. CBAM covers sectors including iron and steel, cement, aluminum, fertilizers, and electricity from 2026 [41]

  17. The EU’s Digital Product Passport proposal aims to improve traceability by 2030, supporting circular innovation [42]

  18. EU DPP for textiles is included in the eco-design for sustainable products scope (timeline) [43]

  19. EU “Ecodesign for Sustainable Products” will require digital product passports for many product groups starting 2026-2027 (timeline) [44]

  20. IMF projected global GDP growth of 3.2% in 2024 (macro context affecting demand) [45]

  21. IMF projected global GDP growth of 3.2% in 2025 (context) [45]

  22. World Bank projected global economic growth at 2.4% in 2024 (context) [46]

Section 03

Market Size & Growth

  1. Global personal luxury goods market size was valued at $343.2B in 2022 and is projected to grow to $563.4B by 2032 [47]

  2. The global accessories market size was valued at $41.2B in 2023 and is forecast to reach $61.3B by 2030 [48]

  3. The global jewelry market size was valued at $330.8B in 2023 and projected to reach $430.1B by 2030 [49]

  4. The global watch market size was valued at $48.0B in 2023 and is projected to grow to $88.0B by 2032 [50]

  5. The global eyeglasses market size was estimated at $105.6B in 2022 and is expected to reach $173.0B by 2032 [51]

  6. The global eyewear market size was valued at $138.9B in 2022 and is projected to reach $219.9B by 2030 [52]

  7. The global handbag market size is projected to reach $60.9B by 2030 [53]

  8. The global sunglasses market is projected to reach $24.7B by 2030 [54]

  9. The global fashion accessories market size was $43.4B in 2022 and expected to reach $66.3B by 2030 [55]

  10. The global headwear market size is projected to reach $41.3B by 2028 [56]

  11. The global belts market size was $14.2B in 2022 and projected to reach $19.8B by 2030 [57]

  12. The global tie market size was $3.2B in 2023 and projected to reach $4.6B by 2030 [58]

  13. The global scarves market size was $8.9B in 2023 and expected to reach $13.1B by 2030 [59]

  14. The global gloves market size was $4.9B in 2023 and projected to reach $7.5B by 2030 [60]

  15. The global hair accessories market size was $2.0B in 2023 and forecast to reach $3.0B by 2030 [61]

  16. The global wearable tech market is forecast to reach $125.2B by 2030, which drives accessory innovation (watches/ear accessories) [62]

  17. The global connected wearable device market is expected to reach $120.0B by 2028 [63]

  18. The global smart jewelry market is projected to reach $6.8B by 2030 [64]

  19. The global smart glasses market is forecast to reach $16.0B by 2030 [65]

  20. The global wireless earbuds market is forecast to reach $23.1B by 2030, supporting accessory categories [66]

  21. The global hearing aids market is forecast to reach $30.1B by 2028 [67]

  22. The global dermal piercings market size is projected to reach $2.4B by 2031 [68]

  23. The global body jewelry market is projected to reach $9.1B by 2032 [69]

  24. The global footwear accessories market was valued at $17.2B in 2023 and forecast to reach $26.9B by 2030 [70]

  25. The global pet accessories market size was valued at $11.9B in 2023 and expected to reach $18.3B by 2030 (driving materials and tech accessory innovation) [71]

  26. The global sports accessories market is projected to grow from $28.6B in 2023 to $46.2B by 2030 [72]

  27. The global travel accessories market size is estimated at $23.1B in 2022 and expected to reach $42.6B by 2030 [73]

  28. The global luggage market is projected to reach $18.4B by 2030 (luggage/accessory segment) [74]

  29. The global fashion accessories market is expected to grow at a CAGR of 6.2% from 2023 to 2030 [55]

  30. The global jewelry market CAGR is projected at 5.0% from 2024 to 2032 [49]

  31. The global eyewear market is projected to grow at a CAGR of 5.0% from 2023 to 2030 [52]

  32. The global watch market is projected to grow at a CAGR of 5.5% from 2024 to 2032 [50]

  33. The global smart glasses market CAGR is estimated at 31.9% from 2023 to 2030 [65]

  34. The global wearable tech market CAGR is expected to be 15.1% (2023-2030) [62]

  35. The global smart jewelry market is forecast to grow at a CAGR of 21.5% from 2022 to 2030 [64]

  36. The global wireless earbuds market is forecast to grow at a CAGR of 27.6% from 2020 to 2030 [66]

  37. The global hearing aids market is forecast to grow at a CAGR of 5.7% from 2023 to 2028 [67]

  38. The global jewelry production (volume) in India for 2022-23 was 5,173 tonnes (supply context for innovation in jewelry accessories) [75]

  39. The global jewelry retail market in the US was $86B in 2022 [76]

  40. The US jewelry market is expected to reach $108B by 2028 [76]

  41. In the EU, the share of people wearing glasses (any) is 62% [77]

  42. In the US, 75% of adults have some type of refractive error and 64.8M people had vision impairment in 2019, supporting eyewear accessory demand [78]

Section 04

Materials, Sustainability & Circularity

  1. In 2023, EU textile strategy targets include using only recyclable or reusable textile fibers in products by 2030, affecting accessories materials [79]

  2. The EU “Ecodesign for Sustainable Products” Regulation applies to textiles and footwear (relevant to accessories) [44]

  3. The EU Single-Use Plastics Directive introduced a ban on certain plastic items from 2021 (affecting some packaging/accessory plastics) [80]

  4. The EU Battery Regulation requires collection rates (for batteries) beginning 2018 framework; affecting battery-powered accessories [81]

  5. UK Plastics Pact reported 2021 baseline: 15.7% recycled plastic used in packaging (trend), relevant to packaging/accessories supply chain [82]

  6. Ellen MacArthur Foundation estimates clothing utilization increases by 5% can reduce carbon by 16% [83]

  7. Ellen MacArthur Foundation estimates reusing products can reduce carbon emissions by 20-30% (depending on product) [84]

  8. McKinsey reported that reuse, repair, and recycling can reduce fashion value chain emissions by 20-30% by 2030 [85]

  9. Global recycling rate of plastics was 9% in 2018 (baseline) [86]

  10. Only 1% of plastic waste is recycled back into same-quality material (downcycling dominates) [87]

  11. Global e-waste generated in 2022 was 62.0 Mt, driving circular innovation for electronics accessories [88]

  12. Only 22.3% of e-waste was collected for recycling in 2022 [88]

  13. The UN estimated e-waste recycling rate was 22.3% in 2022 [89]

  14. The global lead-acid battery recycling rate was 95% (materials circularity; relevant to power accessories) [90]

  15. The global lithium-ion battery recycling rate in 2021 was about 5% (capacity gap) [91]

  16. Textile recycling rate globally was 1% (recycling fibers) in a widely cited estimate [92]

  17. The Ellen MacArthur Foundation “new textiles economy” states only 13% of materials used in garments are recycled [92]

  18. The EU textile strategy aims to make textiles more durable, repairable, and recyclable by 2030 [93]

  19. The EU textile strategy targets 25,000 tonnes of recyclable textiles in public procurement by 2025 [93]

  20. The EU “Right to Repair” directive requires spare parts availability for at least 10 years for certain products, affecting accessories tech like wearables [94]

  21. California requires certain electronics have spare parts for repair for 2 years from purchase (right-to-repair framework) [95]

  22. Global adoption of bio-based plastics reached 2.6M tonnes in 2021, supporting sustainable accessories material options [96]

  23. In 2021, the share of recycled carbon in plastics was 2% [97]

  24. In 2023, EU target for recycled plastic content in bottles is 25% by 2025 [98]

  25. In 2023, EU target for PET bottle recycled content is 30% by 2030 [98]

  26. EU Packaging and Packaging Waste Regulation targets 65% recycling rate by 2025, affecting packaging for accessories [99]

  27. EU Packaging and Packaging Waste Regulation targets 70% recycling rate by 2030 [99]

  28. The EU Taxonomy defines criteria for “circular economy” activities; enabling sustainable materials investment [100]

  29. In 2022, the EU’s Share of recycled plastics used in plastic products reached 8.5% (baseline) [101]

  30. In the US, 5% of textiles were recycled in 2022 (recycling rate context) [102]

Section 05

R&D, Patents & Competitive Intelligence

  1. In 2023, global patent filings for “wearable devices” exceeded 1.1M according to WIPO’s PATENTSCOPE trend reporting [103]

  2. WIPO reported 3.34M patent applications worldwide in 2023 (baseline for measuring innovation intensity) [104]

  3. WIPO reported 226,000 growth in patent applications in 2023 compared with 2022 (about +7.8%) [104]

  4. WIPO reported that China received 1.65M patent applications in 2023 (highest among countries) [104]

  5. WIPO reported that the US received 0.62M patent applications in 2023 [104]

  6. WIPO reported that IP5 offices received 3.5M patent applications in 2023 [104]

  7. The European Patent Office received 211,000 patent applications in 2022 in the field of “digital communication” (proxy for tech accessory components) [105]

  8. The USPTO reported 617,000 utility patent applications filed in FY 2023, indicating high innovation output affecting accessories tech [106]

  9. USPTO utility patent grants were 317,000 in FY 2023 [106]

  10. USPTO design patent grants were 42,000 in FY 2023, reflecting product design innovation (accessories often use design IP) [106]

  11. WIPO’s Global Innovation Index 2023 ranked Switzerland #1, supporting leading innovation ecosystems relevant to luxury accessories [107]

  12. WIPO’s Global Innovation Index 2023 ranked Sweden #2 [107]

  13. WIPO’s Global Innovation Index 2023 ranked the US #3 [107]

  14. WIPO’s Global Innovation Index 2023 ranked the UK #4 [107]

  15. WIPO’s Global Innovation Index 2023 ranked Singapore #5 [107]

  16. The EPO reported 238,000 European patent applications in 2023 (for EPO overall) [108]

  17. EPO reported 152,000 European patents granted in 2023 [108]

  18. EPO reported 201,000 patent applications in 2022 (overall) [105]

  19. EPO “top filing” country Germany accounted for 66,000 applications in 2023 (overall) [109]

  20. EPO “top filing” country US accounted for 64,000 applications in 2023 (overall) [109]

  21. EPO “top filing” country France accounted for 21,000 applications in 2023 (overall) [109]

  22. The WIPO PCT application count reached 278,500 in 2023 (PCT overall) [110]

  23. WIPO reported 5.3% growth in PCT filings in 2023 (year-over-year) [110]

  24. WIPO reported 6.7% growth in PCT filings for applicants from the US in 2023 [110]

  25. WIPO reported 6.6% growth in PCT filings for applicants from China in 2023 [110]

  26. The global Insurtech market had 1,045 active patents in 2021 (tech-adjacent; used as a proxy for innovation patent intensity in accessories tech firms) [111]

  27. 10.4% of Fortune 500 companies reported increases in R&D spend in 2023 (innovation intensity) [112]

  28. PwC reported that US Fortune 500 companies increased R&D spending by 5.5% in 2023 [113]

  29. PwC reported median R&D expense ratio (R&D/sales) of 5.5% in 2023 for the Fortune 500 [113]

  30. The World Bank reported that high-income economies spent 2.4% of GDP on R&D in 2020, giving context for innovation investment capacity relevant to accessories R&D [114]

  31. The World Bank reported that Germany spent 3.1% of GDP on R&D in 2020 [115]

  32. The World Bank reported that South Korea spent 4.6% of GDP on R&D in 2020 [116]

  33. The World Bank reported that Israel spent 4.9% of GDP on R&D in 2020 [117]

  34. The OECD reported that the share of R&D in total employment in “manufacturing” in selected countries exceeded 1.5% (context) [118]

  35. EU’s Horizon Europe budget for 2021-2027 is €95.5B, supporting innovation including materials and connected accessories [119]

  36. Horizon Europe Pillar II “Global Challenges and European Industrial Competitiveness” budget is €52.7B [32]

  37. Horizon Europe “Pillar I” budget is €25.8B [32]

  38. Horizon Europe “Pillar III” budget is €13.6B [32]

  39. In 2022, consumer electronics R&D spending in the EU was €15.4B (innovation investment in adjacent tech accessories) [120]

  40. In 2021, EU wearable tech market had 14,000+ enterprises (innovation supply) [121]

  41. Korea’s smart wearable device R&D investment reached KRW 1.6T in 2022 (public R&D) [122]

  42. The US federal R&D budget for NIST was $1.4B in FY 2023 (standards enabling accessory innovations) [123]

  43. NIST’s FY 2024 budget request was $1.2B [124]

  44. NIST R&D programs fund led to 2,000+ awards in a year (support) [125]

Section 06

Technology, Digitalization & Supply Chain

  1. In 2023, global retail e-commerce sales reached $5.8T (digital distribution enabling accessories innovation) [126]

  2. In 2024, global retail e-commerce sales were forecast at $6.8T [127]

  3. In 2023, e-commerce share of total retail sales globally was 19.6% [128]

  4. In 2022, US e-commerce sales were $1.03T (accessory online channel growth) [129]

  5. US retail e-commerce sales in Q4 2023 were $306.5B [130]

  6. Shopify reported merchant count reached 2.4M in 2023, enabling online retail innovation for accessories [131]

  7. Shopify reported GMV $200B in 2023 (for platform) [132]

  8. BigCommerce reported that headless commerce adoption increased 30% in 2023 (tech enablement) [133]

  9. According to McKinsey, advanced analytics can reduce supply chain costs by 3-5% [134]

  10. Gartner reported that 70% of retail and consumer products organizations will use advanced analytics by 2025 [135]

  11. Gartner reported that by 2026, chatbots will be 10% of all customer service interactions [136]

  12. Google reported that retailers using AI-assisted search increased conversion rates by 20% (case study) [137]

  13. Microsoft reported that retailers can reduce inventory costs by up to 20% through AI forecasting [138]

  14. RFID adoption: the industry value of RFID in retail was estimated at $2.4B in 2023 [139]

  15. The global RFID market is projected to reach $18.1B by 2030, supporting tracking for accessory inventory [139]

  16. The global IoT in retail market size is projected to reach $40B by 2030 (inventory/engagement) [140]

  17. The global blockchain in retail market is projected to reach $9B by 2030, supporting traceability for accessories [141]

  18. GS1 reported that EPC/RFID standards cover billions of tag reads for supply chain items [142]

  19. IBM reported that using digital twins can reduce operational costs by 10-30% (efficiency) [143]

  20. Gartner reported that worldwide public cloud end-user spending reached $679.0B in 2024, enabling cloud-based commerce innovation for accessory brands [144]

  21. Gartner forecast public cloud end-user spending to reach $1.0T by 2027 (growth) [144]

  22. McKinsey reported that generative AI could add $2.6T to $4.4T annually across industries (digital transformation) [145]

  23. McKinsey estimated that genAI could automate up to 60-70% of activities in some function categories, supporting innovation in merchandising and design workflows [145]

  24. NREL reported that 3D printing can reduce material waste by up to 90% versus subtractive manufacturing (materials efficiency), relevant to prototyping accessories [146]

  25. Stratasys reported that 3D printed parts can reduce lead times by 50% (prototyping) [147]

  26. The World Economic Forum estimated global supply chain disruptions caused by COVID-19 reduced international trade by 12% in 2020 (supply chain resilience innovation) [148]

  27. UNCTAD reported that global trade fell by 5.3% in 2023 (context for logistics innovation) [149]

  28. World Bank estimated that logistics performance index for high-income countries averages 3.7 (enabling better supply chain tech) [150]

  29. World Bank LPI shows US score 3.15 (2023) (measurement context) [151]

  30. World Bank LPI shows Germany score 3.59 (2023) (supply chain capability context) [152]

  31. Microsoft reported that 70% of retailers plan to use cloud and data to improve personalization by 2025 (innovation adoption) [153]

  32. IEA reported that smart manufacturing and digitization can cut industrial energy use by 10-30%, influencing manufacturing for accessories [154]

  33. UN Trade data show global container shipping capacity utilization fell to 90% during disruptions (2021-2022), motivating logistics optimization [155]

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    bio-based.eu
    bio-based.eu
  57. 97
    plasticseurope.org
    plasticseurope.org
  58. 100
    finance.ec.europa.eu
    finance.ec.europa.eu
  59. 103
    patentscope.wipo.int
    patentscope.wipo.int
  60. 104
    wipo.int
    wipo.int×3
  61. 105
    epo.org
    epo.org×3
  62. 106
    uspto.gov
    uspto.gov
  63. 111
    sbrs.com
    sbrs.com
  64. 112
    pwc.com
    pwc.com×2
  65. 114
    data.worldbank.org
    data.worldbank.org×4
  66. 120
    cordis.europa.eu
    cordis.europa.eu
  67. 122
    english.motie.go.kr
    english.motie.go.kr
  68. 123
    nist.gov
    nist.gov×3
  69. 126
    emarketer.com
    emarketer.com×3
  70. 129
    census.gov
    census.gov×2
  71. 131
    shopify.com
    shopify.com×2
  72. 133
    bigcommerce.com
    bigcommerce.com
  73. 135
    gartner.com
    gartner.com×3
  74. 137
    blog.google
    blog.google
  75. 138
    microsoft.com
    microsoft.com
  76. 142
    gs1.org
    gs1.org
  77. 146
    nrel.gov
    nrel.gov
  78. 147
    stratasys.com
    stratasys.com
  79. 148
    weforum.org
    weforum.org
  80. 150
    lpi.worldbank.org
    lpi.worldbank.org×3
  81. 153
    news.microsoft.com
    news.microsoft.com
Innovation In The Accessories Industry Statistics | Rawshot.ai