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Global Apparel Accessories Market Is Expected To Flourish At Close To 6% CAGR Over The Decade

Apparel Accessories

As per a revised report published by Fact.MR, the appeal accessories market is anticipated to surpass US$ 12.6 Bn in 2021, and expand at a CAGR close to 6% over the next ten years. Popularity of economical apparel accessories has been observed in the past few years. The foremost driving factor for the sales of economical apparel accessories is surging demand from developing economies. A larger chunk of demand comes from these regions where consumers are pretty price-sensitive.

Asia Pacific accounts for more than 30% market share, followed by North America and Europe. This is due to rapid industrialization and easy availability of raw materials. Online sales channels have witnessed enormous growth in the past year due to the outbreak of COVID-19. Relaxations in trade restrictions after the initial lockdowns, especially in developing economies, will further bolster demand.

For More Insights Into The Market, Request a Sample of this Report – https://www.factmr.com/connectus/sample?flag=S&rep_id=199

Key Takeaways from Market Study

Key Market Segments Covered

Competitive Landscape

Majority of companies discussed in the report have focused on product launches and expanding their manufacturing units in developing regions. Strategies include innovation, collaborations with key players, partnerships, strategic alliances, and strengthening of regional and global distribution networks.

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