United States personal accessories market reached approximately USD92
billion in the year 2020 and it is anticipated to reach up to USD145 billion,
by the end of 2026 and grow at a CAGR of 8.15% during the forecast period owing
to rising demand for new and fashionable shapes, silhouettes, and colors of the
accessories. The popularity of accessories has surged, as they are seen as a
way to improve one's appearance.
In the United States, factors such as rising
disposable income, increasing brand awareness, and a desire for imported items,
as well as emerging organized retail and e-commerce channels and robust supply
chain networks, are propelling the personal accessories business. Furthermore,
the personal accessories sector in the United States is being boosted by
factors such as the increasing number of fashion houses in the country and the
arrival of various regional and international companies.
Jewelry, bags & wallets, and watches sectors provide
additional supports to the fashion industry. As a result, its primary purpose
is to give the user the impression of being well-dressed and appealing to
themselves and others, making the personal accessories industry one of the most
well-organized and developed.
The United States personal accessories market can be
segregated based on product type, end user, distribution channel, and region.
The United States personal accessories market on the basis of by product type is
segmented into jewelry, bags &
wallet, watches, and others (eyewear, belts, caps & hats, etc.). In
comparison to other personal accessories, jewelry is the most dominant segment.
Rising per capita disposable income, an increase in the number of digital
buyers, an increase in the population of high-net-worth persons (HNWIs), a
soaring urban population, and an increase in the female population are some of
the factors driving the jewelry market. Exclusive stores, multi-brand stores,
specialty stores, online market, and supermarket/hypermarket are the
distribution channels in the personal accessories market in the United States.
Exclusive stores are expected to account for the largest share in the personal
accessories industry in the United States by 2026. The online channels segment,
on the other hand, is predicted to develop throughout the projection period
since it is more convenient and provides a wider selection of products to
customers in a shorter amount of time.
In terms of region, the United States personal accessories
market is categorized into south, west, north-east, and mid-west. The southern
region is considered to be the one that is majorly contributing to the
business. This is due to the states such as California, which has the largest
population, and New York, which is a renowned fashion hub and is the utmost
reason for the higher sales in the personal accessories industry.
The personal accessories market has become an attractive
destination for investments and several large multinational companies are
entering into this market. Some of the major players operating in this market
are LVMH Moët 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. The personal accessories market in the
United States is highly fragmented due to many local and international
suppliers.
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Years considered
for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
Objective of the Study:
- To analyze the historical growth in the market size of the United
States personal accessories market from 2016 to 2020.
- To estimate and forecast the market size of the United States personal
accessories market from 2021 to 2026 and growth rate until 2026.
- To classify and forecast the United States personal accessories market
based on product type, end user, distribution channel,
company, and region.
- To identify the dominant region or state in the United States personal
accessories market.
- To identify drivers and challenges for the United States personal
accessories market.
- To examine competitive developments such as expansions, new product
launches, mergers & acquisitions, etc., in the United States personal
accessories market.
- To identify and analyze the profile of leading players operating in
the United States personal accessories market.
- To identify key sustainable strategies adopted by market players in
the United States personal accessories market.
|
Attribute
|
Details
|
|
Market Size
Value in FY2020
|
USD 92 Billion
|
|
Revenue
Forecast in FY2026
|
USD 145 Billion
|
|
Growth Rate
|
8.15%
|
|
Base Year
|
2020
|
|
Historical
Years
|
2016 –
2020
|
|
Estimated
Year
|
2021
|
|
Forecast
Period
|
2022 – 2026
|
|
Quantitative
Units
|
Revenue in USD Billion,
and CAGR for 2016-2020 and 2021-2026
|
|
Report
Coverage
|
Revenue forecast,
company share, competitive landscape, growth factors, and trends
|
|
Segments
Covered
|
- End User
- Distribution Channel
- Region
- Top 10 Leading States
- Company
|
|
Countries
Scope
|
United States
|
|
Key
Companies Profiled
|
LVMH Moët
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, etc.
|
|
Customization
Scope
|
10% free
report customization with purchase. Addition or alteration to country,
regional & segment scope.
|
|
Pricing and
Purchase Options
|
Avail customized
purchase options to meet your exact research needs. Explore purchase options
|
|
Delivery
Format
|
PDF and Excel
through Email (We can also provide the editable version of the report in
PPT/pdf format on special request)
|
TechSci Research performed both primary as well as exhaustive
secondary research for this study. Initially, TechSci Research sourced a list
of manufacturers across the United States. Subsequently, TechSci
Research conducted primary research surveys with the identified companies.
While interviewing, the respondents were also enquired about their competitors.
Through this technique, TechSci Research was able to include the manufacturers
which could not be identified due to the limitations of secondary research.
TechSci Research analyzed the manufacturers, distribution channel, and presence
of all major players across the United States.
TechSci Research calculated the market size of the United States
personal accessories market using a top-down and bottom-up approach, wherein
data for various segments was recorded and forecast for the future years.
TechSci Research sourced these values from the industry experts and company
representatives and externally validated them through analyzing historical data
of these product types and distribution channel for getting an appropriate, overall market size. Various
secondary sources such as company websites, news articles, press releases,
company annual reports, investor presentations, and financial reports were also
studied by TechSci Research.
Key Target Audience:
- Manufacturers, distributors,
and end users
- Market research and consulting
firms
- Government bodies such as
regulating authorities and policymakers.
- Organizations, forums, and
alliances related to personal accessories.
The
study is useful in providing answers to several critical questions that are
important for the industry stakeholders such as personal accessories manufacturers,
distributors, dealers
and policy makers. The study would also help them in deciding which market
segments should be targeted over the coming years in order to strategize
investments and capitalize on growth of the market.
Report Scope:
In this report, the United States personal
accessories market has been segmented into the following categories, in
addition to the industry trends which have also been detailed below:
·
United States Personal Accessories
Market, By Product Type:
o
Jewelry
o
Watches
o
Bags & Wallet
o
Others (Eyewear, Belts, Caps & Hats, etc.)
·
United States Personal Accessories
Market, By End User:
o Female
o Male
·
United States Personal Accessories
Market, By Distribution Channel:
- Exclusive Stores
- Multi-Brand Stores
- Specialty Stores
- Online Market
- Supermarket/Hypermarket
- United States Personal Accessories Market, By Region:
- South
- West
- North-East
- Mid-West
- United States Personal Accessories Market, By Top 10 Leading
States:
o
California
o
Texas
o
Florida
o
New York
o
Illinois
o
Massachusetts
o
New Jersey
o
Ohio
o
Washington
o
Michigan
Competitive
Landscape
Company Profiles: Detailed analysis of the major
companies present in the United States 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).
In case you don’t find what you are looking for, please get in touch with our custom research team at [email protected]