Europe Fashion Accessories Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 11.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Europe Fashion Accessories Market Analysis
The European fashion accessories market is expected to register a CAGR of 11.5% during the forecast period.
One of the factors driving the fashion accessories market is the increasing trend of eco-fashion. Companies are making conscious efforts to choose the best quality materials that are soft and comfortable and do not have a detrimental effect on the environment. For example, German brands like OGNX, Mandala, Jaya Organics, Magadi, and Ambiletics use the latest eco-friendly solutions and strive to source innovative and sustainable material for their accessory collections, including t-shirts, leggings, sweatpants, and others. In July 2022, apparel manufacturers in Leicester, United Kingdom, formed a federation to establish the area as a sustainable manufacturing hub for British fashion. In addition, innovations in design, material, and fit are expected to favor the market's growth in the coming years. For instance, in the case of apparel, consumers are more attracted to color, fabric, and style, encouraging the manufacturers to introduce trendy apparel suitable for various activities, including formal meetings, outdoor activities, sports activities, and others. In 2022, Lululemon, the renowned Canadian activewear retailer, announced its entry into Spain, and it is coming up with a Spanish version of its e-commerce site.
Furthermore, during the forecast period, the European fashion accessories market is expected to be driven by factors such as changes in consumer lifestyles, greater household expenditure, favorable demographics, and a shift in demand for branded products. In some regions across Europe, consumers have been observed to spend highly on fashion accessories, boosting the sales of such products in the market. For example, online retail sales for clothing increased to an all-time high of 31% in 2020 owing to the increasing online shopping trend during the COVID-19 pandemic, according to the data published by the UK Fashion and Textiles Industry. Thus, the increasing consumer spending on clothing is further expected to drive the growth of the fashion accessories market in Europe.
Europe Fashion Accessories Market Trends
This section covers the major market trends shaping the Europe Fashion Accessories Market according to our research experts:
Increased Internet Exposure Driving the Market
The global spread of COVID-19 and lockdowns that compelled people to stay indoors catalyzed the increase in screen time of consumers. This has, in turn, led to increased exposure to the internet and fashion influencers, which has resulted in the adoption of online shopping of products across various categories. Consumer convenience is one of the key factors driving sales through online channels. Factors such as increased product variety, convenience in shopping, selection of delivery date desired by consumers, discounts, and seamless purchase experience contributed to the rapid growth of online fashion accessory sales across Europe. 46.6 million people used the internet daily in Great Britain in 2020, according to the United Kingdom's (UK) Office for National Statistics (ONS), breaking the record set in 2016. The growing internet penetration in the region is one of the significant factors influencing sales through e-commerce websites and social media. There are various e-commerce platforms offering their services across Europe. For example, in 2022, by introducing its own line of clothes, Russian e-commerce company Ozon (OZON.O) got into the online fashion business. Another example of an e-commerce platform catering to the needs of consumers is the Italian Collection, an online store that provides designer and handpicked artisan companies' clothes, shoes, accessories, and home goods for both men and women. The company wants to become recognized as a leader in premium discounted shopping and a global platform for luxury and lifestyle goods. Italian Collection, which advertises partnerships with top fashion suppliers, provides more than 12,000 products from more than 200 Italian and other brands.
Premiumization Driving the Market
Europe is one of the major destinations for consumers to shop and collect designer or premium products. The United Kingdom, Germany, and France have the lowest prices for luxury goods, including fashion accessories. The growing inclination of consumers to spend more on fashion accessories on the basis of occasion and usage has augmented the demand for high-end quality fashion apparel in Europe. Additionally, since 90% of luxury products are produced in Europe (often France or Italy), the prices are comparatively lower. Furthermore, luxury goods are mostly considered a status symbol for individuals who are driving discretionary spending with a high purchasing power. For instance, disposable personal income in France increased to EUR 400,351 million (USD 421,982 million) in the second quarter of 2022 from EUR 395,396 million (USD 442,314 million) in the first quarter of 2022. The increasing popularity of luxury goods among millennials is driving market growth as they are more likely to be driven by the latest fashion trend than other consumer groups. Owing to the rising demand for premium fashion accessories across the European market, different players are also entering the market to take advantage of the opportunities. For example, in 2021, the French luxury footwear brand Daniel Essa announced the launch of its SS22 collection of customizable luxury sneakers, Nous. The 'Nous' sneakers are available in two colors, Alabaster and Onyx. However, each pair features eight hand-painted leather straps that can be easily changed with the additional strap packs available in a variety of basic and fun colors. In addition, the brand is launching an exclusive line of straps made of Swarovski Crystals.
Europe Fashion Accessories Industry Overview
Europe's fashion accessories market is highly fragmented, with a huge number of players operating in the market. The companies offering their products in the market use various strategies in order to sustain and expand their business. The strategies that the players in the market most commonly use include product innovations and expansions. In 2021, Mango, a Spanish clothing company, committed EUR 35 million (USD 42.4 million) to develop its Barcelona-area logistics facility in Lli莽脿 D'Amunt. The facilities were a part of its expansion program in order to support Mango's new business lines, enhance the dispatch area, and accommodate the company's expanding e-commerce operations. Likewise, some of the companies also position their brands to be using sustainable and environment-conscious materials in order to improve their business practices as well as to build a healthy brand image among their customers. The top companies in the market studied include Industria de Dise帽o Textil SA, Adidas AG, LVMH Moet Hennessy Louis Vuitton, Chanel, and H&M Hennes & Mauritz AB.
Europe Fashion Accessories Market Leaders
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Industria de Dise帽o Textil, S.A.
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Adidas AG
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LVMH Moet Hennessy Louis Vuitton
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H & M Hennes & Mauritz AB
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Chanel
*Disclaimer: Major Players sorted in no particular order
Europe Fashion Accessories Market News
- July 2022: In order to keep up with ecological trends without losing comfort and elegance, the vegan shoe company Solari Milano was created. The new men's footwear line makes the claim that it combines being created in Italy with environmental sensitivity and fashion.
- June 2022: The Amazon Fashion shopping experience, which was originally launched in the United States in September 2020, was introduced to the United Kingdom, Germany, France, Italy, and Spain's fashion accessories market, according to an announcement by Amazon Fashion about the expansion of luxury stores to Europe.
- June 2021: The Spanish online retailer Deporvillage was acquired by the British sports-fashion company JD Sports Fashion.
Europe Fashion Accessories Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Footwear
5.1.2 Apparel
5.1.3 Wallets
5.1.4 Handbags
5.1.5 Watches
5.1.6 Other Products
5.2 By End User
5.2.1 Men
5.2.2 Women
5.2.3 Kids/Children
5.2.4 Unisex
5.3 By Distribution Channel
5.3.1 Offline Channel
5.3.2 Online Channel
5.4 By Geography
5.4.1 Spain
5.4.2 United Kingdom
5.4.3 Germany
5.4.4 France
5.4.5 Italy
5.4.6 Russia
5.4.7 Rest of Europe
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Adidas AG
6.3.2 Nike Inc.
6.3.3 Fossil Group Inc.
6.3.4 Burberry Group PLC
6.3.5 Industria de Diseno Textil, SA
6.3.6 Chanel Ltd
6.3.7 H & M Hennes & Mauritz AB (H&M)
6.3.8 Giorgio Armani SpA
6.3.9 LVMH Moet Hennessy Louis Vuitton
6.3.10 Yves Saint Laurent SAS
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
9. DISCLAIMER
Europe Fashion Accessories Industry Segmentation
A fashion accessory is anything that is utilized to enhance a person's attire in a secondary way. The European fashion accessories market is segmented by product type, end user, distribution channel, and geography. By product type, the market is segmented into footwear, apparel, wallets, handbags, watches, and other products. Based on the end user, the market is segmented into men, women, kids/children, and unisex. By distribution channel, the market is segmented into the offline channel and online channel. By geography, the market is segmented into Spain, the United Kingdom, Germany, France, Italy, Russia, and the rest of Europe. For each segment, the market sizing and forecasts have been provided in terms of value (in USD million).
| By Product Type | |
| Footwear | |
| Apparel | |
| Wallets | |
| Handbags | |
| Watches | |
| Other Products |
| By End User | |
| Men | |
| Women | |
| Kids/Children | |
| Unisex |
| By Distribution Channel | |
| Offline Channel | |
| Online Channel |
| By Geography | |
| Spain | |
| United Kingdom | |
| Germany | |
| France | |
| Italy | |
| Russia | |
| Rest of Europe |
Europe Fashion Accessories Market Research FAQs
What is the current Europe Fashion Accessories Market size?
The Europe Fashion Accessories Market is projected to register a CAGR of 11.5% during the forecast period (2024-2029)
Who are the key players in Europe Fashion Accessories Market?
Industria de Dise帽o Textil, S.A., Adidas AG, LVMH Moet Hennessy Louis Vuitton, H & M Hennes & Mauritz AB and Chanel are the major companies operating in the Europe Fashion Accessories Market.
What years does this Europe Fashion Accessories Market cover?
The report covers the Europe Fashion Accessories Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Europe Fashion Accessories Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Europe Fashion Accessories Industry Report
Statistics for the 2024 Europe Fashion Accessories market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Europe Fashion Accessories analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
