Global Hair Accessories Market Expected To Reach $ 25.9 Billion By 2027
DUBLIN, January 6, 2022 / PRNewswire / – The Global Hair Accessories Market by Distribution Channel (General Stores, Online, and Supermarkets & Hypermarkets), By Product (Ties & Ties, Wigs & Extensions, Clips & Pins, Headbands & Other Products), By Regional Outlook, Report Industry Analysis and Forecast, 2021 – 2027 “ the report was added to ResearchAndMarkets.com offer.
The global hair accessories market size is expected to reach $ 25.9 billion by 2027, increasing to a market growth of 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, pearl sequins, among others. Compared to hair accessories for women, men have relatively fewer options in the market as their options are limited to hair ties, headbands, bandanas, Alice bands and hairpins.
Factors such as growing preference for trendy or trendy products for utilitarian purposes as well as trying out trendy hairstyles are expected to propel the growth of the hair accessories market during the forecast period. In addition, the rapid development of advanced production technologies, the prevalence of various fashion trends and hairstyles, and the high accessibility of attractive accessories are expected to attract more customers to invest and thus fuel the growth of the market. In addition, the launch of various products such as neckties, barrettes, clips and headbands having fashionable materials, designs and shapes that are both functional and fashionable are expected to increase the growth of the accessories market for hair in the years to come.
COVID-19 impact assessment
The outbreak of the COVID-19 pandemic has disrupted the global supply chain for various products. Businesses around the world have seen their sales and income decline due to various restrictions such as a complete lockdown, temporary ban on manufacturing units, and restrictions on imports and exports. China is one of the major raw material suppliers for the production of various types of hair accessories and several key manufacturers have been dependent on China for the same purpose. But, since the appearance of the virus in China, many governments have stopped cross-border trade with China.
Because of this, many hair accessory companies have to reduce or stop their production, which ultimately affected the growth of the hair accessories market. Thus, the COVID-19 pandemic has negatively impacted the demand and growth of the hair accessories market across the world.
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 they are more eager to try out the looks of their favorite celebrities, which motivates them to spend more on trendy hair accessories. Along with this, they mainly invest to make 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 all over the world.
Increase in consumer disposable income
The increase in disposable income of consumers allows people to spend on various clothes, clothes and accessories. Along with this, the growing population of working women contributes to the growth of the market as they spend huge amount on these fashionable accessories. This is expected to further drive the growth of the hair accessories market during the forecast period. In addition, the trend of showing luxurious images on social media platforms is also expected to increase the growth of the market.
Marketing restriction factor:Possibility of hair damage
Using hair accessories can increase the risk of hair damage. Bobby pins and rubber bands are the most commonly used hair accessories around the world, but these accessories can cause hair loss as 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 hair accessory that is suitable for their hair type.
Distribution channel outlook
Based on distribution channels, the hair accessories market is fragmented into hypermarkets and supermarkets, general stores and online. Among all, the general stores 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 tendency of consumers to purchase hair accessories from general stores. These general stores consist of small and large neighborhood stores.
Outlook Product Type
On the basis of product type, the hair accessories market is segmented into clips and pins, headbands, wigs and extensions, rubber bands and ties, etc. Among these, the elastic and tie 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 great accessibility of a wide variety of products with different shapes, designs and materials.
Regionally, 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 the major players in the market. Major companies featured 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
22.214.171.124 Market composition and scenario
2.2 Key factors influencing the market
2.2.1 Market drivers
2.2.2 Market restrictions
Chapter 3. Global Hair Accessories Market by Distribution Channel
3.1 Global General Store Market by Region
3.2 Global Online Market by Region
3.3 Global Supermarkets and Hypermarkets Market by Regions
Chapter 4. Global Hair Accessories Market by Product
4.1 Global Elastics & 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 Product Market by Region
Chapter 5. Global Hair Accessories Market by Regions
Chapter 6. Company Profiles
6.1 Forever 21, Inc.
6.1.1 Company overview
6.1.2 Recent strategies and developments:
126.96.36.199 Partnerships, collaborations and agreements:
6.2 Fromm International
6.2.1 Company overview
6.3 Annie International, Inc.
6.3.1 Company overview
6.4 The Best Accessories, Inc.
6.4.1 Company overview
6.5 SILKE London
6.5.1 Company overview
6.6.1 Company overview
6.6.2 Strategies and recent developments:
188.8.131.52 Product launches and product extensions:
184.108.40.206 Partnerships, collaborations and agreements:
6.7 Curly Hair
6.7.1 Company overview
6.8 H&M Group
6.8.1 Company overview
6.8.2 Financial analysis
6.8.3 Regional analysis
6.8.4 Recent strategies and developments:
220.127.116.11 Partnerships, collaborations and agreements:
18.104.22.168 Geographic extensions:
6.9 Conair LLC (US securities)
6.9.1 Company overview
6.9.2 Strategies and recent developments:
22.214.171.124 Product launches and product extensions:
6.1 Have a nice hair day (Coty)
6.10.1 Company overview
6.10.2 Strategies and recent developments:
126.96.36.199 Product launches and product extensions:
For more information on this report, visit https://www.researchandmarkets.com/r/eg0qfl
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