As per the Apparel Accessories Market report by Fact.MR, sales of apparel accessories are expected to grow at a CAGR of 6 per cent between 2021-2031 and be worth $21.8 billion by 2031. China, India, Indonesia, Malaysia, Indonesia, and Thailand will hold nearly 30 per cent market share due to easy availability of raw materials, steady economic growth, low-cost labor, and growing disposable income are factors pushing demand across these countries.

Their respective governments have taken numerous initiatives to promote industrialization. These include exemptions and subsidies to encourage manufacturers to expand geographically. Online sales have shown enormous volume growth in the past year during the outbreak of COVID-19. Manufactures deployed their resources to strengthen their online sales channels as well as joined hands with numerous e-Commerce platforms to cater to a wide range of consumers worldwide.

China is presumed to be epicenter for the production of apparel accessories, owing to multitude avenues, including production facilities, technological advancements, easy availability of raw materials, and numerous favorable government initiatives.