The clothing footwear accessories market size has grown strongly in recent years. It will grow from $2.01 trillion in 2023 to $2.12 trillion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth observed in the historical period can be ascribed to factors such as heightened consumer expenditure on fashion, the expansion of fast fashion brands, increased disposable income, a surge in demand for athletic apparel, and a growing interest in multifunctional accessories.
The clothing footwear accessories market size is expected to see strong growth in the next few years. It will grow to $2.67 trillion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The anticipated growth is driven by a rising consumer preference for sustainable fashion, the growing trend of online shopping, increased investment in smart clothing technology, a heightened demand for luxury and premium items, and greater awareness of the impact of climate change on fashion. Key trends expected during this forecast period include technological innovations, nostalgic fashion, smart clothing, the rise of digital fashion, and the continued popularity of athletic wear.
The rise in e-commerce is projected to drive growth in the market for clothing footwear and accessories. E-commerce, or online buying and selling, is fueled by factors such as mobile technology, digital marketing, logistics improvements, advancements in supply chain management, AI for personalized shopping experiences, and deferred payment services. This enables consumers to shop conveniently anytime from home, avoiding crowded stores, appealing especially to busy individuals. For instance, according to the United States Census Bureau in May 2024, first-quarter retail e-commerce sales in the U.S. reached approximately $289.2 billion, up 2.1% (±0.7%) from the previous quarter. Thus, the increasing demand for e-commerce is a key driver of growth in the clothing, footwear, and accessories market.
Leading companies in the clothing footwear and accessories market are concentrating on innovation, such as smart shoes, to cater to tech-savvy consumers' evolving preferences. Smart shoes incorporate sensors, connectivity, and data analytics to enhance functionality, track performance, and provide personalized insights. For instance, in January 2023, Ajanta Shoes launched NAVIGATOR, an AI-inspired smart shoe featuring step and workout tracking, fall detection, quick call dialing, music app access, and customizable controls through simple taps and gestures. This gyroscopic technology-driven shoe predominantly utilizes Indian resources, marking a significant advancement in the footwear industry through Ajanta's commitment to cutting-edge technology and supported by Impakto's robust R&D capabilities.
In March 2022, Authentic Brands Group LLC acquired Reebok International Limited, expanding its portfolio into athletic footwear and apparel segments. This strategic acquisition aims to capitalize on Reebok's well-established brand presence and market share in sports and lifestyle segments, further strengthening Authentic Brands Group's market position in the footwear retail industry.
Major companies operating in the clothing footwear accessories market are Nike Inc., Industria de Diseño Textil S.A., EssilorLuxottica Group, Adidas AG, Hennes & Mauritz AB, Kering, Fast Retailing Co. Ltd., The Gap Inc., Hermès International S.A., VF Corporation, PVH Corp., Lululemon Athletica Inc., Skechers USA Inc., Tapestry Inc., Ralph Lauren Corporation, Hanesbrands Inc., Under Armour, Capri Holdings Limited, Prada SpA, Burberry Group, Tommy Hilfiger B.V., Columbia Sportswear Company, Deckers Outdoor Corporation, Wolverine World Wide Inc., Kate Spade.
Asia-Pacific was the largest region in the clothing footwear accessories market in 2023. The regions covered in the clothing footwear accessories market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the clothing footwear accessories market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Clothing footwear and accessories (CFA) are categories of consumer goods that include apparel items, footwear, and accessories intended to enhance or complement a person’s outfit. These products address individual style, functionality, and seasonal trends, reflecting a vibrant industry shaped by fashion advancements and consumer tastes.
The primary categories within clothing footwear and accessories are footwear, apparel, wallets, handbags, watches, and others. Footwear includes all types of shoes designed for different purposes, such as athletic, casual, formal, and everyday wear, but excludes work and safety shoes. It is crafted from materials such as leather, textiles, plastic, rubber, and wood. Distribution occurs through both offline and online channels, catering to various users including men, women, children, and unisex consumers.
The clothing footwear accessories market research report is one of a series of new reports that provides clothing footwear accessories market statistics, including clothing footwear accessories industry global market size, regional shares, competitors with a clothing footwear accessories market share, detailed clothing footwear accessories market segments, market trends, and opportunities, and any further data you may need to thrive in the clothing footwear accessories industry. This clothing footwear accessories research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The clothing footwear and accessories market consists of sales of dresses and jumpsuits, outerwear, athletic footwear, accessories jewelry, bags, belts, sunglasses, and watches. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The clothing footwear accessories market size is expected to see strong growth in the next few years. It will grow to $2.67 trillion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The anticipated growth is driven by a rising consumer preference for sustainable fashion, the growing trend of online shopping, increased investment in smart clothing technology, a heightened demand for luxury and premium items, and greater awareness of the impact of climate change on fashion. Key trends expected during this forecast period include technological innovations, nostalgic fashion, smart clothing, the rise of digital fashion, and the continued popularity of athletic wear.
The rise in e-commerce is projected to drive growth in the market for clothing footwear and accessories. E-commerce, or online buying and selling, is fueled by factors such as mobile technology, digital marketing, logistics improvements, advancements in supply chain management, AI for personalized shopping experiences, and deferred payment services. This enables consumers to shop conveniently anytime from home, avoiding crowded stores, appealing especially to busy individuals. For instance, according to the United States Census Bureau in May 2024, first-quarter retail e-commerce sales in the U.S. reached approximately $289.2 billion, up 2.1% (±0.7%) from the previous quarter. Thus, the increasing demand for e-commerce is a key driver of growth in the clothing, footwear, and accessories market.
Leading companies in the clothing footwear and accessories market are concentrating on innovation, such as smart shoes, to cater to tech-savvy consumers' evolving preferences. Smart shoes incorporate sensors, connectivity, and data analytics to enhance functionality, track performance, and provide personalized insights. For instance, in January 2023, Ajanta Shoes launched NAVIGATOR, an AI-inspired smart shoe featuring step and workout tracking, fall detection, quick call dialing, music app access, and customizable controls through simple taps and gestures. This gyroscopic technology-driven shoe predominantly utilizes Indian resources, marking a significant advancement in the footwear industry through Ajanta's commitment to cutting-edge technology and supported by Impakto's robust R&D capabilities.
In March 2022, Authentic Brands Group LLC acquired Reebok International Limited, expanding its portfolio into athletic footwear and apparel segments. This strategic acquisition aims to capitalize on Reebok's well-established brand presence and market share in sports and lifestyle segments, further strengthening Authentic Brands Group's market position in the footwear retail industry.
Major companies operating in the clothing footwear accessories market are Nike Inc., Industria de Diseño Textil S.A., EssilorLuxottica Group, Adidas AG, Hennes & Mauritz AB, Kering, Fast Retailing Co. Ltd., The Gap Inc., Hermès International S.A., VF Corporation, PVH Corp., Lululemon Athletica Inc., Skechers USA Inc., Tapestry Inc., Ralph Lauren Corporation, Hanesbrands Inc., Under Armour, Capri Holdings Limited, Prada SpA, Burberry Group, Tommy Hilfiger B.V., Columbia Sportswear Company, Deckers Outdoor Corporation, Wolverine World Wide Inc., Kate Spade.
Asia-Pacific was the largest region in the clothing footwear accessories market in 2023. The regions covered in the clothing footwear accessories market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the clothing footwear accessories market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Clothing footwear and accessories (CFA) are categories of consumer goods that include apparel items, footwear, and accessories intended to enhance or complement a person’s outfit. These products address individual style, functionality, and seasonal trends, reflecting a vibrant industry shaped by fashion advancements and consumer tastes.
The primary categories within clothing footwear and accessories are footwear, apparel, wallets, handbags, watches, and others. Footwear includes all types of shoes designed for different purposes, such as athletic, casual, formal, and everyday wear, but excludes work and safety shoes. It is crafted from materials such as leather, textiles, plastic, rubber, and wood. Distribution occurs through both offline and online channels, catering to various users including men, women, children, and unisex consumers.
The clothing footwear accessories market research report is one of a series of new reports that provides clothing footwear accessories market statistics, including clothing footwear accessories industry global market size, regional shares, competitors with a clothing footwear accessories market share, detailed clothing footwear accessories market segments, market trends, and opportunities, and any further data you may need to thrive in the clothing footwear accessories industry. This clothing footwear accessories research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The clothing footwear and accessories market consists of sales of dresses and jumpsuits, outerwear, athletic footwear, accessories jewelry, bags, belts, sunglasses, and watches. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Clothing Footwear Accessories Market Characteristics3. Clothing Footwear Accessories Market Trends and Strategies32. Global Clothing Footwear Accessories Market Competitive Benchmarking33. Global Clothing Footwear Accessories Market Competitive Dashboard34. Key Mergers and Acquisitions in the Clothing Footwear Accessories Market
4. Clothing Footwear Accessories Market - Macro Economic Scenario
5. Global Clothing Footwear Accessories Market Size and Growth
6. Clothing Footwear Accessories Market Segmentation
7. Clothing Footwear Accessories Market Regional and Country Analysis
8. Asia-Pacific Clothing Footwear Accessories Market
9. China Clothing Footwear Accessories Market
10. India Clothing Footwear Accessories Market
11. Japan Clothing Footwear Accessories Market
12. Australia Clothing Footwear Accessories Market
13. Indonesia Clothing Footwear Accessories Market
14. South Korea Clothing Footwear Accessories Market
15. Western Europe Clothing Footwear Accessories Market
16. UK Clothing Footwear Accessories Market
17. Germany Clothing Footwear Accessories Market
18. France Clothing Footwear Accessories Market
19. Italy Clothing Footwear Accessories Market
20. Spain Clothing Footwear Accessories Market
21. Eastern Europe Clothing Footwear Accessories Market
22. Russia Clothing Footwear Accessories Market
23. North America Clothing Footwear Accessories Market
24. USA Clothing Footwear Accessories Market
25. Canada Clothing Footwear Accessories Market
26. South America Clothing Footwear Accessories Market
27. Brazil Clothing Footwear Accessories Market
28. Middle East Clothing Footwear Accessories Market
29. Africa Clothing Footwear Accessories Market
30. Clothing Footwear Accessories Market Competitive Landscape and Company Profiles
31. Clothing Footwear Accessories Market Other Major and Innovative Companies
35. Clothing Footwear Accessories Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Clothing Footwear Accessories Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on clothing footwear accessories market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase:
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- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
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Description
Where is the largest and fastest growing market for clothing footwear accessories? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Product Type: Footwear; Apparel; Wallets; Handbags; Watches; Other Products2) By Distribution Channel: Offline Channel; Online Channel
3) By End User: Men; Women; Kids or Children; Unisex
Key Companies Mentioned: Nike Inc.; Industria de Diseño Textil S.A.; EssilorLuxottica Group; Adidas AG; Hennes & Mauritz AB
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
- Nike Inc.
- Industria de Diseño Textil S.A.
- EssilorLuxottica Group
- Adidas AG
- Hennes & Mauritz AB
- Kering
- Fast Retailing Co. Ltd.
- The Gap Inc.
- Hermès International S.A.
- VF Corporation
- PVH Corp.
- Lululemon Athletica Inc.
- Skechers USA Inc.
- Tapestry Inc.
- Ralph Lauren Corporation
- Hanesbrands Inc.
- Under Armour
- Capri Holdings Limited
- Prada SpA
- Burberry Group
- Tommy Hilfiger B.V.
- Columbia Sportswear Company
- Deckers Outdoor Corporation
- Wolverine World Wide Inc.
- Kate Spade
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 175 |
Published | September 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 2128.13 Billion |
Forecasted Market Value ( USD | $ 2678.89 Billion |
Compound Annual Growth Rate | 5.9% |
Regions Covered | Global |
No. of Companies Mentioned | 25 |