Market Insights Consumer Apparel Women's Apparel

Clothing Accessories & Other Clothes - Hong Kong

Hong Kong

In 2024, the revenue in the Clothing Accessories & Other Clothes market in Hong Kong amounts to HKD US$833.00m.
Looking ahead, the market is projected to experience an annual growth rate of 2.28% (CAGR 2024-2029).
When comparing globally, it is noteworthy that the majority of revenue is generated in China, with a staggering amount of HKD US$18,690m in 2024.
Taking into account the total population figures, the per person revenue in Hong Kong's Clothing Accessories & Other Clothes market is estimated to reach HKD US$111.10 in 2024.
Moving on to volume, it is anticipated that the segment will reach a volume of 34.0m pieces by 2029.
However, there is a slight projected volume decline of -2.5% in 2025.
Lastly, the average volume per person in the Clothing Accessories & Other Clothes market is expected to be 4.8pieces in 2024.
Hong Kong is known for its vibrant fashion scene, and currently, the market for clothing accessories and other clothes is experiencing a surge in demand for trendy, street-style inspired pieces.

Key regions: United States, Indonesia, Germany, Malaysia, Singapore

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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.