Overview and Scope
Hair accessories are things that are wrapped, inserted, affixed, or knotted to the hair. Women are the primary users of hair accessories all around the world. Hair accessories come in a variety of materials, forms, and sizes. Some hair accessories are better for removing bangs from the face, while others are better for keeping haircuts in place. Ornaments and the materials used to make hair ornaments have been used to reflect fashion level, social class, religion, and age group throughout history.
Sizing and Forecast
The hair accessories market size has grown rapidly in recent years. It will grow from $25.15 billion in 2023 to $28.62 billion in 2024 at a compound annual growth rate (CAGR) of 13.8%. The growth in the historic period can be attributed to popularity of elaborate hairstyles, cultural and societal significance of hair adornment, influence of fashion trends on hair accessory styles, increased disposable income and spending on personal grooming, traditional rituals and ceremonies involving the use of hair accessories.
The hair accessories market size is expected to see rapid growth in the next few years. It will grow to $47.06 billion in 2028 at a compound annual growth rate (CAGR) of 13.2%. The growth in the forecast period can be attributed to adoption of sustainable and eco-friendly materials, growing demand for customizable and personalized hair accessories, expansion of e-commerce and online sales channels, influencer marketing and social media shaping hair accessory trends, rise in genz population. Major trends in the forecast period include integration of technology in smart hair accessories, resurgence of vintage and retro-inspired hair accessory styles, incorporation of innovative designs and materials, emphasis on multi-functional and versatile hair accessories, collaborations between fashion brands and hair accessory designers.
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Segmentation & Regional Insights
The hair accessories market covered in this report is segmented –
1) By Product Type: Clips and Pins, Headbands, Wigs and Extensions, Elastics and Ties, Other Products
2) By Distribution: Hypermarkets and Supermarkets, General Stores, Online or E-Commerce
3) By Application: Personal Application, Commercial Application
North America was the largest region in the hair accessories market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hair accessories market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Increasing consumers’ focus on looks and aesthetics is expected to propel the growth of the hair accessories market going forward. Hair has a crucial function in enhancing one’s image, as healthy, lustrous, and well-groomed hair enhance a person’s appearance. People take care of their hair, try various haircuts, and accessorize in order to appear desirable, which increases the demand for hair care products. For instance, November 2021 according to survey done by Betterhalf.ai, a matrimony website and app in India, found that highest number of people, 43% consider ‘looks’ as the most important factor in a matrimonial profile. Therefore, the increasing consumer’s focus on looks and aesthetics is driving the demand for the hair accessories market.
Key Industry Players
Major companies operating in the hair accessories market report are Hairline Illusions LLC, Henry Margu Inc., Goody Products Inc., Diana Enterprise Inc., Conair Corporation, J & D Beauty Products Inc., Hennes & Mauritz AB, Forever 21 Inc., Fromm Holding AG, Annie International Inc., Silke London Ltd., Hair Drama Company, Bunzee Bands, Riot Accessories Ltd., SwirlyCurly LLC, SOQ Jewelry, Creative Findings, Good Hair Days, Jennifer Behr LLC, Lele Sadoughi LLC, PuffCuff LLC, Dongguan Yuanshan Webbing & Accessories Co. Ltd., Sta-Rite Ginnie Lou Inc., Novita Hair accessories, Evita Peroni International A/S, Claires Holdings LLC, Wigsroyal Hair Products, Vivica A. Fox Hair Collection, Remington Arms Company LLC, Bumble and Bumble LLC, Drybar LLC, Aveda Corporation, John Paul Mitchell Systems, Kenra Professional LLC, Henkel Corporation, Schwarzkopf Professional
The hair accessories market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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