U.S.: Apparel Accessory Market 2024

Apparel Accessory Market Size in the U.S.

The U.S. apparel accessory market rose rapidly to $X in 2022, increasing by X% against the previous year. In general, consumption recorded a significant increase. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Apparel Accessory Production in the U.S.

In value terms, apparel accessory production reduced slightly to $X in 2022. In general, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. Apparel accessory production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Apparel Accessory Exports

Exports from the U.S.

For the third year in a row, the United States recorded growth in overseas shipments of apparel accessories and other apparel, which increased by X% to X tons in 2022. Overall, exports recorded a strong expansion. The pace of growth appeared the most rapid in 2020 when exports increased by X%. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, apparel accessory exports soared to $X in 2022. In general, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Mexico (X tons) was the main destination for apparel accessory exports from the United States, accounting for a X% share of total exports. Moreover, apparel accessory exports to Mexico exceeded the volume sent to the second major destination, Canada (X tons), twofold. Israel (X tons) ranked third in terms of total exports with a X% share.

From 2013 to 2022, the average annual rate of growth in terms of volume to Mexico stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and Israel (X% per year).

In value terms, the largest markets for apparel accessory exported from the United States were Canada ($X), Mexico ($X) and the UK ($X), together accounting for X% of total exports.

Mexico, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average apparel accessory export price amounted to $X per ton, almost unchanged from the previous year. In general, the export price, however, recorded a deep setback. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Sri Lanka ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (X%), while the prices for the other major destinations experienced more modest paces of growth.

Apparel Accessory Imports

Imports into the U.S.

In 2022, apparel accessory imports into the United States amounted to X tons, with an increase of X% compared with the year before. Over the period under review, imports enjoyed significant growth. The most prominent rate of growth was recorded in 2020 when imports increased by X%. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, apparel accessory imports soared to $X in 2022. Overall, total imports indicated a modest expansion from 2013 to 2022: its value increased at an average annual rate of X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of apparel accessory to the United States, accounting for a X% share of total imports. Moreover, apparel accessory imports from China exceeded the figures recorded by the second-largest supplier, Bangladesh (X tons), sevenfold. Vietnam (X tons) ranked third in terms of total imports with a X% share.

From 2013 to 2022, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Bangladesh (X% per year) and Vietnam (X% per year).

In value terms, China ($X) constituted the largest supplier of apparel accessories and other apparel to the United States, comprising X% of total imports. The second position in the ranking was taken by Vietnam ($X), with a X% share of total imports. It was followed by Mexico, with a X% share.

From 2013 to 2022, the average annual rate of growth in terms of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Mexico (X% per year).

Import Prices by Country

The average apparel accessory import price stood at $X per kg in 2022, surging by X% against the previous year. In general, the import price, however, showed a significant curtailment. The most prominent rate of growth was recorded in 2019 when the average import price increased by X%. As a result, import price attained the peak level of $X per kg. From 2020 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Mexico ($X per kg), while the price for China ($X per kg) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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