The global hair accessories market size was valued at USD 17.4 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 7.7% from 2021 to 2028. The market is expected to expand at a CAGR of The market growth is attributed to a rising preference for fashionable products that serve the purpose of utility as well as give a trendy look to the hairdo. The COVID-19 pandemic has had an adverse effect on the market. The early onslaught of the pandemic disrupted the market in worst-hit countries such as India, Brazil, and Italy.
Rapid development in production technologies, evolving fashion trends, and hairstyles, and the availability of various attractive accessories have driven consumers to purchase hair accessories. The introduction of products such as clips, barrettes, ties, and headbands in trendy designs, materials, and shapes that are functional, and fashionable has also been spurring the growth of the market for hair accessories.
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Key Player Mentioned:
- Goody Products Inc.
- Claire’s
- Conair Corporation
- H&M
- Forever 21
- Fromm International
- Annie International Inc.
- ERICKSON
- Silke London
- Invisibobble
- Hair Drama Company
- Bunzee Bands
Product Segment Analysis:
- Clips & Pins
- Headbands
- Wigs & extensions
- Elastics & Ties
- Others
The hair accessories market is characterized by the presence of a few well-established players and several small and medium players. Due to the increased demand, manufacturers have been launching new products around the globe. For instance, in June 2021, Invisibobble, announced its partnership with the worldwide leader in innovative children’s creative products, Crayola to manufacture limited edition accessories.
Regional Segment Analysis: North America, Europe, Asia Pacific, Latin America, and Mideast and Africa.
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Healthy, glossy, and well-groomed hairdos have become crucial in the routine among consumers in the U.S. to enhance their appearance. Thus, individuals take care of their hair, experiment with different haircuts, and do not shy away from trying trendy and innovative accessories as per their desire, which is fueling the demand among consumers. The rising preference for grooming products is expected to boost the market for hair accessories.
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