Market Insights Consumer Apparel Children's Apparel

Clothing Accessories & Other Clothes - Hong Kong

Hong Kong

The revenue in the Clothing Accessories & Other Clothes market in Hong Kong is projected to reach US$176.00m in 2024.
It is anticipated that the market will experience an annual growth rate of 2.29% (CAGR 2024-2029).
When compared to other countries globally, in China generates the highest revenue in this segment, amounting to US$4,472m in 2024.
In terms of per capita revenue, each person in Hong Kong is expected to generate US$23.48 in 2024.
Looking specifically at the volume of the Clothing Accessories & Other Clothes market, it is estimated to reach 15.6m pieces by 2029.
However, a slight decline in volume growth of -2.1% is expected in 2025.
On average, each person in Hong Kong is projected to contribute 2.2pieces in volume to the Clothing Accessories & Other Clothes market in 2024.
Hong Kong is known for its vibrant and diverse fashion scene, with an emphasis on luxury clothing accessories and unique, avant-garde styles.

Key regions: China, United States, Germany, Philippines, Indonesia

Market

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Currency

Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are based on the consumer spending on clothing which comprises women, men, and children segments that are produced for private end customers for both offline retail (department stores, traditional specialist shops) and online retail (e-commerce, ordering by catalog).

Modeling approach / Market size:

Market sizes are determined by a combined Top-Down and Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use resources from the Statista platform, national statistics, industry research, market data from independent databases and third-party sources, historical developments, current trends, reported performance indicators from the key market players, and Statista interviews with market experts. Next we use relevant key market indicators and data from country-specific associations such as GDP, consumer spending, consumer price index and population. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the exponential trend smoothing illustrates suited forecasting for the Apparel market with projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional Notes :

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.