Hair Accessories Market to Grow with a CAGR of 7.9% through 2028
Rising demand for hair accessories among both men and women and the
popularity of fashion trends are factors driving the global Hair Accessories
market in the forecast period 2024-2028.
According to TechSci Research report, “Hair Accessories Market –
Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Global Hair Accessories Market
stood at USD20.76 billion in 2022 and is anticipated to grow with a CAGR of 7.9%
in the forecast period, 2024-2028. Global hair accessories represent a diverse
and dynamic industry comprising an array of products designed for hairstyling
and personal adornment. These accessories encompass hairpins, headbands,
scrunchies, barrettes, and more, serving fashion, cultural, and practical
purposes. Key drivers of this market include ever-changing fashion trends,
cultural traditions, rising disposable incomes, and the impact of social media.
Sustainability and eco-friendly materials are gaining importance. However,
challenges like supply chain disruptions, shifting consumer preferences, market
saturation, and counterfeiting persist. Despite these hurdles, the global hair
accessories market continues to thrive, with the emergence of wigs and
extensions and the growth of online retail as notable trends.
Hair accessories have long been an essential part of personal grooming
and fashion. They serve both functional and aesthetic purposes, offering
individuals a means to adorn and style their hair while expressing their unique
personalities. The global hair accessories market is a dynamic and
ever-evolving industry that reflects shifting consumer preferences, cultural
influences, and fashion trends. In this article, we will delve into the
prominent trends and drivers that are shaping the global hair accessories
market.
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"Global Hair Accessories Market.”
One of the most notable trends in the hair accessories market is the
growing emphasis on sustainability and the use of eco-friendly materials. As
environmental concerns gain prominence worldwide, consumers are becoming more
conscious of the impact their purchases have on the planet. This has led to a
shift in the production of hair accessories, with many brands prioritizing
sustainability.
Sustainable materials such as organic cotton, bamboo, recycled plastics,
and biodegradable options are increasingly used in the creation of hair
accessories. Companies are also adopting eco-conscious manufacturing practices
that reduce waste, energy consumption, and environmental harm. Additionally,
sustainable packaging options, like recyclable and reusable materials, are gaining
traction.
Additionally, the influence of social media and digital influencers on
fashion trends cannot be overstated. Many hairs accessory brands are now
collaborating with influencers, fashion bloggers, and celebrities to promote
their products. These collaborations often involve influencer-designed
collections or marketing campaigns that leverage the influencer's reach and
credibility.
Digital influencers use their online platforms to showcase different
hair accessory styles, providing inspiration and guidance to their followers.
This direct connection with consumers can significantly impact product
visibility and sales. Influencer collaborations help brands tap into their
influencer's loyal audience and gain valuable insights into consumer
preferences and emerging trends.
The global hair accessories market is segmented into product, end user,
sales channel, regional distribution, and company.
Based on product the market is segmented into clips & pins, wigs
& extensions, head bands, elastics & ties, and others.
Based on end user
the market is further segmented into male, female.
The female
demographic overwhelmingly dominates the global hair accessories segment. Women
of all ages, from children to adults, are the primary consumers of hair
accessories. This dominance is driven by a multitude of factors, including a
long-standing tradition of hair ornamentation, fashion trends, and the
versatility and variety of accessories available to complement different
hairstyles and occasions. The female segment continues to fuel the growth of
the hair accessories market, with an ever-expanding range of options catering
to diverse style preferences and personal grooming needs. This consumer group
remains central to the industry's success and innovation.
Based on end-user
the market is segmented into specialty stores, online,
hypermarkets/supermarkets, multi-branded stores, and others (direct sales, etc.).
Based on region the
market is segmented into five regions Asia Pacific, North America, Europe,
Middle East & Africa, and South America.
Major companies operating in Global Hair Accessories Market
are:
- Goody Products Inc.
- Jennifer Behr
- Forever 21
- Combe Incorporated
- Hoyu Co., Ltd
- Hair Drama Company
- Bunzee Bands
- Claire’s
- Riot Accessories LTD
- Conair Corporation
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“Global hair accessories refer to a diverse range of fashion and
grooming items designed for adorning and styling hair. This thriving industry
is driven by factors such as ever-evolving fashion trends, cultural
significance, increased disposable incomes, and the influence of social media.
Sustainability is also gaining importance, with eco-friendly materials and
practices becoming more common. The sector faces challenges such as supply
chain disruptions, changing consumer preferences, market saturation, and counterfeiting.
Despite these challenges, hair accessories remain a dynamic market with
promising opportunities, including the rapid growth of wigs and extensions and
the dominance of online retail.,” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based management consulting firm.
“Hair Accessories Market By
Product (Clips & Pins, Wigs & Extensions, Head Bands, Elastics &
Ties, and Others), By End User (Male, Female), By Sales Channel (Specialty
Stores, Online, Hypermarkets/Supermarkets, Multi-Branded Stores, and Others
(Direct Sales, etc.)), By Region, By Competition Forecast & Opportunities,
2018-2028F”, has evaluated
the future growth potential of global Hair Accessories market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in the global Hair Accessories market.
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