The global hair accessories market is expected to reach $25.9 billion by 2027
DUBLIN, January 6, 2022 /PRNewswire/ — The “Global Hair Accessories Market by Distribution Channel (General Stores, Online & Supermarkets & Hypermarkets), By Product (Hair Bands & Ties, Wigs & Extensions, Clips & Pins, Headbands & Other Products), By Regional Outlook, Growth Report Industry Analysis and Forecast, 2021 – 2027″ report has been added to from ResearchAndMarkets.com offer.
The size of the global hair accessories market is expected to reach $25.9 billion by 2027, growing the market at 9.6% CAGR during the forecast period.
Hair accessories are made of materials like plastic, wood, and metals, which are decorated using threads, ribbons, or nets and are encrusted with stones, sparkling beads, and more. Compared to women’s hair accessories, men have relatively fewer options in the market since their options are limited to hair ties, headbands, bandanas, Alice bands, and bobby pins.
Factors such as growing preference for fashionable or fashionable products for utilitarian purposes along with trying out trendy hairstyle are estimated to propel the hair accessories market growth during the forecast period. Furthermore, rapid development of advanced production technologies, prevalence of various fashion trends and hairstyles, and wide accessibility of attractive accessories are expected to entice more customers to invest in them and hence fuel the growth of the market. Further, the launch of various products such as ties, barrettes, clips and headbands having fashionable materials, designs and shapes that are both functional and fashionable is expected to increase the growth of the market for hair accessories in the years to come.
COVID-19 Impact Analysis
The outbreak of the COVID-19 pandemic has disrupted the global supply chain of various goods. Businesses around the world have seen a decline in sales and revenue due to various restrictions such as complete lockdown, temporary ban on manufacturing units, and restrictions on imports and exports. China is among the leading suppliers of raw materials for the production of different types of hair accessories, and several key manufacturers depend on China for the same purpose. But, since the outbreak of the virus was in China, many governments have stopped cross-border trade with China.
Due to this, many hair accessories companies had to reduce or stop production, which ultimately affected the growth of the hair accessories market. Thus, the COVID-19 pandemic has negatively impacted the demand and growth of hair accessories market across the globe.
Market Growth Factors:A Growing Fashion Trend Among Millennials and Gen Z
Millennials and Generation Z are heavily influenced by movie stars and other celebrities and are more eager to try out the looks of their favorite celebrities, which motivates them to spend more on fashionable hair accessories. Along with this, they mainly invest in creating a style statement from their appearance which makes them more fashionable. Due to this, the demand for various fashion products including hair accessories is increasing across the world.
Increase in consumer disposable income
The increase in consumer disposable income allows people to spend on various clothes, apparel and accessories. Along with this, the growing population of working women is contributing to the growth of the market as they spend huge amounts on these fashionable accessories. This is expected to further drive the hair accessories market growth over the forecast period. Additionally, the trend of showing luxurious images on social media platforms is also expected to augment the market growth.
Marketing Restriction Factor:Possibilities of hair damage
The use of hair accessories can increase the risk of hair damage. Hairpins and rubber bands are the most commonly used hair accessories in the world, but these accessories can lead to hair loss because the hair can get tangled. Along with this, using the wrong accessories can damage the hair and lead to massive hair loss. It is important for a person to understand their hair type and then choose a suitable hair accessory for their hair type.
Distribution Channel Insights
Based on distribution channels, the hair accessories market is fragmented into hypermarkets and supermarkets, general stores and online. Among all, the general store segment generated the highest revenue share in 2020 and is expected to continue this trend during the forecast period. This growth is attributed to the growing propensity of consumers to purchase hair accessories from general stores. These general stores consist of small and large neighborhood stores.
Product Type Outlook
On the basis of product type, the hair accessories market is segmented into clips & pins, headbands, wigs & extensions, rubber bands & ties, and others. Among these, the hair ties and ties segment dominated the hair accessories market with the highest revenue share in 2020 and is expected to continue this trend during the forecast period. This is due to the wide accessibility of a wide variety of products with different shapes, designs and materials.
Regional outlook
Region-wise, the Hair Accessories market is analyzed through North America, Europe, Asia Pacific, and LAMEA. the Asia Pacific has become the leading region in the hair accessories market with the maximum revenue share in 2020. This is due to the growing population of working women in emerging countries like China and India.
The market research report covers the analysis of major market players. Key companies profiled in the report include Forever 21, Inc., Fromm International, Annie International, Inc., The Finest Accessories, Inc., SILKE London, Invisibobble, SwirlyCurly Hair, H&M Group, Conair LLC (American Securities) and Good Hair . Day (Coty).
Main topics covered:
Chapter 1. Market Scope and Methodology
Chapter 2. Market Overview
2.1 Presentation
2.1.1 Presentation
2.1.1.1 Market composition and scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market constraints
Chapter 3. Global Hair Accessories Market by Distribution Channel
3.1 Global General Stores Market by Region
3.2 Global Online Market by Region
3.3 Global Supermarkets & Hypermarkets Market by Region
Chapter 4. Global Hair Accessories Market by Product
4.1 Global Rubber Bands and Ties Market by Region
4.2 Global Wigs and Extensions Market by Region
4.3 Global Clips and Pins Market by Region
4.4 Global Headbands Market by Region
4.5 Global Other Products Market by Region
Chapter 5. Global Hair Accessories Market by Region
Chapter 6. Business Profiles
6.1 Forever 21, Inc.
6.1.1 Presentation of the company
6.1.2 Strategies and recent developments:
6.1.2.1 Partnerships, collaborations and agreements:
6.2 Fromm International
6.2.1 Presentation of the company
6.3 Annie International, Inc.
6.3.1 Presentation of the company
6.4 The Best Accessories, Inc.
6.4.1 Presentation of the company
6.5 SILK London
6.5.1 Presentation of the company
6.6 Invisibobble
6.6.1 Presentation of the company
6.6.2 Strategies and recent developments:
6.6.2.1 Product launches and product extensions:
6.6.2.2 Partnerships, Collaborations and Agreements:
6.7 Swirly Curly Hair
6.7.1 Presentation of the company
6.8 H&M Group
6.8.1 Company Overview
6.8.2 Financial analysis
6.8.3 Regional Analysis
6.8.4 Strategies and recent developments:
6.8.4.1 Partnerships, collaborations and agreements:
6.8.4.2 Geographic expansions:
6.9 Conair LLC (US securities)
6.9.1 Company Overview
6.9.2 Strategies and recent developments:
6.9.2.1 Product launches and product extensions:
6.1 Happy Hair Day (Coty)
6.10.1 Company overview
6.10.2 Strategies and recent developments:
6.10.2.1 Product launches and product extensions:
For more information on this report, visit https://www.researchandmarkets.com/r/eg0qfl
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