The Indian personal
accessories market was worth USD1622.96 million in 2022 and is expected to grow
at a CAGR of over 7.10% to reach USD 2406.73 million by 2028, on account of
growing young population and rapid urbanization. Furthermore, rising
middle-class disposable income, growing working women, increasing proliferation
of international brands, and organized retail is growing in popularity and are
expected to boost personal accessories sales in India during the forecast
period.
Personal accessories are
a collection of different products designed to help the consumer. Personal
accessories are designed to complement a customer's fashion sense and other
distinguishing characteristics. Personal accessories are any product that is
used to complete a person's outfit secondarily. The consumer accessories finish
an outfit and enhance the wearer's appearance. Accessories are available in
various shapes, sizes, colors, and other characteristics.
However, higher income,
increased literacy levels, increased exposure and awareness levels, higher
adaptability to the internet, increasing urbanization, the changing role of
women and children in the decision-making process, increased demand for better
shopping experiences, and impulsive purchase behavior among young's have all
contributed to a continuous and sustained shift in consumer demand patterns
from necessities to lifestyle products and services fueling the India personal
accessories market. Furthermore, the growth of the personal accessories market
is propelled by both the demand and supply side. Consumers' needs and desires
have evolved as a result of rising discretionary incomes, changing social
scenarios, overall exposure to cultures and trends, and demographic advantages.
In contrast, retailers' confidence has been bolstered by the corporatization of
Indian fashion retail, the emergence, and acceptance of domestic brands,
personalization, and new channels.
Western
culture's influence has sparked a surge in demand of India personal accessories
market
The increasing influence of
fashion statements from western culture on the Indian population is boosting
the demand for products in this market, such as bucket-style bags, oversize
neck chains, and so on. Customers in the Indian business world are extremely
sensitive and demanding. In addition, many Indian brands provide consumers with
high-quality products at reasonable prices.
Indian brides prefer to
accessorize themselves on their wedding day, so western-influenced fashion
jewelry is rising. Brides have begun to prefer artificial or semi-precious
fashion jewelry for their wedding day, which has resulted in healthy growth in
recent years. The current market's choice and demand for fashion jewelry have
prompted the introduction of new trends not only during the festive season but
also during the wedding season.
E-commerce has significantly established
itself as a pioneering medium for driving the market growth
The growing popularity
of online retail stores is fueling India's demand for personal accessories. The
market offers promising opportunities because of e-commerce. Many personal
accessories brands have branched into e-commerce, allowing for widespread brand
presence in Tier II and Tier III cities where brand retail shops may not exist.
Customers are divided
into two categories: online and offline. Offline catering is a tried and tested
product. Customers who shop offline have the opportunity to interact with the
service and product, forming a tangible bond with the brand. E-commerce allows
you to reach many customers, connect with Millennials, and connect with
value-seekers, and is a significant first step in interacting with the brand.
Trending men’s accessories fueling the market growth
Due to the continuous
change in fashion trends, accessories are no longer just for women. It blurs
the lines between well-defined styles for men and women. Indian men have
embraced Indian fashion and accessories, beginning to wear more colorful
accessories such as bracelets, watches, and sunglasses, as well as
demonstrating a higher level of fashion consciousness and awareness, increasing
the men's personal accessories market in India. The men's accessory category
requires product diversification in urban areas and further propagation and
acceptance in semi-urban areas.
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Market Segmentation
The India personal accessories
market is segmented based on product type, end user, distribution channel, region,
and competitional landscape. Based on product type, the market is further
segmented into watches, fashion jewelry, handbags and wallet, and others
(eyewear, belts, etc). The end user segment, which is further segmented into female
and male. The distribution channel is segmented into multi-brand stores,
exclusive stores, specialty stores, online, supermarket/hypermarket, etc. The
market analysis also studies the regional segmentation divided into north,
west, south, and east.
Company Profiles
Titan Company Limited,
Fossil India Private Limited (India), Timex Group India Ltd, Casio India Co.
Private Limited (India), Baggit India Private Limited (India), Hidesign India
Private Limited (India), Voylla Fashions Private Limited (India), Pipa Bella
Accessories Private Limited (India), Da Milano Leathers Private Limited,
Swatch Group (India)
Private Limited. are some of the leading
market players of the India personal accessories market. New market players are
also actively entering the market in the recent years and further strengthening
the growth of the future market growth.
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Attribute
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Details
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Market Size
Value in 2022
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USD1,622.96 Million
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Revenue
Forecast in 2028
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USD2,406.73 Million
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Growth Rate
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7.10%
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Base Year
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2022
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Historical Years
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2018–2022
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Estimated
Year
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2023E
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Forecast
Period
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2024F –2028F
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Quantitative
Units
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Revenue in USD Million, and
CAGR for 2018-2022 and 2023E- 2028F
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Report Coverage
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Revenue
forecast, company share, competitive landscape, growth factors, and trends
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Segments Covered
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·
Product type
·
End User
·
Distribution Channel
·
Region
·
Company
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Regional Scope
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North, West,
South and East
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Key Companies
Profiled
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Titan
Company Limited, Fossil India Private Limited (India), Timex Group India Ltd,
Casio India Co. Private Limited (India), Baggit India Private Limited
(India), Hidesign India Private Limited (India), Voylla Fashions Private
Limited (India), Pipa Bella Accessories Private Limited (India), Da Milano
Leathers Private Limited, Swatch Group (India) Private Limited.
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Customization Scope
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10% free report customization with purchase. Addition or
alteration to country, regional & segment scope.
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Pricing and Purchase Options
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Avail customized purchase options to
meet your exact research needs. Explore purchase options
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Delivery Format
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PDF and Excel through Email (We can
also provide the editable version of the report in PPT/pdf format on special
request)
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Report Scope:
In this report, India Personal
Accessories market has been segmented into following categories, in addition to
the industry trends which have also been detailed below:
- India Personal Accessories Market, By Product type:
- Watches
- Fashion jewelry
- Handbags and Wallets
- Others (Eyewear, belts, etc)
- India Personal Accessories Market,
By End User:
- India Personal Accessories Market, By Distribution Channel:
- Multi-Brand Stores
- Exclusive Stores
- Specialty Stores
- Online
o Supermarket/Hypermarket
- India Personal Accessories Market,
By Region:
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in India Personal Accessories market.
Available Customizations:
With the given market data, TechSci Research offers
customizations according to a company’s specific needs. The following
customization options are available for the report:
Company
Information
Detailed analysis and
profiling of additional market players (up to five).