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Asia Pacific driving global apparel accessories market

Asia Pacific is anticipated to remain at the forefront of global market for apparel accessories throughout 2017 to 2022. A steady rise of the region, an expanding base of working class population, availability of ample amount of raw materials and cost-friendly labor resources are factors that are playing an important role in driving the growth of apparel accessories market in the Asia Pacific.

The region is anticipated to command a considerable revenue share of global market as well as reflect a steady CAGR. On the basis of apparel accessory types, demand for handkerchiefs is expect to gain traction in future. In terms of revenue, sales of handkerchief currently command nearly 14 per cent share of the global market.

Demand for apparel accessories with economy pricing is expected to remain considerably high. Currently, the economy apparel accessories segment accounts for nearly 39 per cent of revenues of the market. The segment is expected to reflect a CAGR of over four per cent during the forecast period. Modern trade is expected to remain the largest sales channel for apparel accessories over 2022. Each year, a large bulk of apparel accessories are sold through modern trade.