United States Personal Accessories Market to Grow at a CAGR of 8.15% in the Forecast Period

United States Personal Accessories market is driven by various factors such as shifting consumer preferences, e-commerce and digital transformation, as well as the trends of premiumization and customization.

According to TechSci Research report, “United States Personal Accessories Market – By Region, Competition, Forecast and Opportunities, 2018-2028F”, the United States Personal Accessories Market stood at USD 94.22 billion in 2022 and is anticipated to grow with a CAGR of 8.29% in the forecast period, 2024-2028. The United States personal accessories market is a dynamic and multifaceted industry that encompasses a wide range of products designed to enhance individuals' style and functionality. From handbags and wallets to jewelry, eyewear, and beyond, the personal accessories market reflects the diverse preferences and needs of consumers across the nation.

Handbags and wallets are staple items in the personal accessories market. They come in a variety of styles, materials, and sizes to accommodate different occasions and personal tastes. Major players in this segment include brands like Coach, Michael Kors, and Louis Vuitton.

Jewelry, including necklaces, rings, bracelets, and earrings, is a significant component of the personal accessories market. Consumers purchase jewelry for various reasons, from self-expression to commemorating special moments. Companies such as Tiffany & Co., Pandora, and Swarovski dominate this sector. Eyewear includes sunglasses and prescription glasses. The United States eyewear market is well-established, with brands like Ray-Ban, Oakley, and Warby Parker being key players. This segment is influenced by fashion trends, as well as health and vision care considerations.

Watches remain popular as both fashion accessories and functional timepieces. Well-known brands like Rolex, Apple, and Casio cater to a broad range of consumers, from luxury enthusiasts to tech-savvy individuals. Scarves, Hats, and Belts are the accessories complement outfits and offer practical benefits. Scarves, hats, and belts are available in various materials and styles, appealing to different age groups and fashion preferences.

Luggage, travel bags, and related items fall under this category. As travel trends evolve, so do the preferences of consumers for travel accessories. Brands like Samsonite and Tumi cater to travelers' needs.

The changing lifestyles and preferences of consumers greatly impact the market. For instance, the rise of remote work has influenced choices in handbags and accessories, with more emphasis on casual and functional designs. The growing popularity of online shopping has significantly expanded the reach of personal accessories brands. E-commerce platforms have become essential for both established players and emerging brands.

The personal accessories market is highly influenced by fashion trends and celebrity endorsements. Consumers often seek accessories that reflect the latest styles and fashions. As environmental concerns become more prominent, many consumers are increasingly looking for sustainable and eco-friendly options within the personal accessories market.

Browse over XX market data Figures spread through 83 Pages and an in-depth TOC on "United States Personal Accessories Market”

The market offers a wide variety of brands, from luxury to fast fashion and boutique labels. This diversity ensures that consumers with varying budgets and style preferences can find suitable options. While global brands have a substantial presence in the U.S. market, local and artisanal brands are gaining traction by offering unique, handcrafted accessories.

The personal accessories market is ever-evolving, with several notable trends and innovations:

Sustainability: Many brands are focusing on sustainable materials and ethical practices, responding to the growing consumer demand for eco-friendly accessories.

Personalization: Customization options, from monogramming to choosing materials, allow consumers to create unique and personalized accessories.

Smart Accessories: The integration of technology in accessories, such as smartwatches and smart eyewear, is gaining popularity, appealing to tech-savvy consumers.

Inclusivity: Brands are embracing inclusivity by offering diverse product ranges that cater to various body types, gender identities, and cultural backgrounds.

Vintage and Retro Revival: Nostalgia-driven trends see the resurgence of vintage and retro styles in personal accessories, appealing to consumers seeking a unique and timeless look.

Despite the industry's vibrancy, the personal accessories market faces its share of challenges:

Economic Uncertainty: Economic downturns can affect consumer spending on non-essential items like personal accessories.

Counterfeits and Imitations: The market is plagued by counterfeit products, which can erode brand reputation and consumer trust.

Supply Chain Disruptions: Disruptions in the supply chain, such as the COVID-19 pandemic, can affect production and distribution, leading to delays and shortages.

Sustainability Demands: Meeting sustainability standards and sourcing eco-friendly materials can be cost-prohibitive for some brands.

Competition: The market is highly competitive, with new entrants constantly emerging, making it challenging for established brands to maintain market share.

Changing Consumer Preferences: Understanding and predicting shifting consumer preferences, especially in the fast-paced fashion industry, presents a significant challenge.

The United States personal accessories market is poised for continued growth and adaptation. As consumers seek products that align with their values, such as sustainability and inclusivity, brands that can meet these demands will thrive. Additionally, with the integration of technology, smart accessories are likely to become more prevalent. The online market is also expected to expand further, as e-commerce becomes a dominant channel for personal accessories shopping.

The United States personal accessories market is segmented into product type, end user, sales channel, and region.

Based on product type, the market is segmented into jewelry, watches, bags & wallet, and others (eyewear, belts, caps & hats, etc.). Among these, watches have a significant share in the United States personal accessories market. Watches are often seen as collectible items, with some models appreciating in value over time. Limited editions, vintage pieces, and special collaborations are particularly sought after by watch enthusiasts. The concept of collecting watches has led to a passionate and dedicated community of collectors and aficionados.

Based on region, the market is segmented into South, West, Mid-West, North-East. Among these, South has a significant share in the United States personal accessories market. The South's vibrant fashion scene and cultural heritage are additional factors influencing its position in the personal accessories market. Emerging and established brands in the region often incorporate Southern influences and styles, which not only cater to the preferences of the local population but also resonate with consumers across the nation. The Southern aesthetic, with its blend of tradition and modernity, has been embraced by many in the personal accessories industry.

Key market players in the United States Personal Accessories market include:

• LVMH Moet Hennessy Louis Vuitton Inc.
• Tapestry, Inc.
• Richemont North America Inc.
• Apple Inc.
• Kering Americas, Inc. (Gucci, Yves Saint Laurent, and Bottega Veneta)
• Pandora Jewelry Inc.
• CHANEL, Inc.
• The Swatch Group (U.S.) Inc.
• PRADA USA Corp
• Burberry Limited

Download Free Sample Report

Customers can also request 10% free customization in this report.

“The United States personal accessories market is a dynamic and diverse industry with a wide range of products catering to consumer needs and preferences. It is shaped by fashion trends, sustainability concerns, and technological innovations, and it continues to evolve to meet the changing demands of a diverse consumer base. Challenges such as economic uncertainties and supply chain disruptions are balanced by opportunities for growth and innovation in this vibrant market.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based Global management consulting firm.

“United States Personal Accessories Market Segmented By Product Type (Jewelry, Watches, Bags & Wallet, and Others (Eyewear, Belts, Caps & hats, etc.)), By End User (Female, and Male), By Sales Channel (Supermarkets/Hypermarkets, Exclusive Stores, Multi-Brand Stores, Specialty Stores, Online, and Others), By Region, Competition, Forecast and Opportunities, 2018-2028F”, has evaluated the future growth potential of United States personal accessories market and provides statistics and information on market structure, size, share, and future growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the United States personal accessories market.

Contact

Mr. Ken Mathews

Techsci Research LLC

420 Lexington Avenue, Suite 300,

New York, United States- 10170                   

Tel: +13322586602

Email: [email protected]

Website: www.techsciresearch.com