The Hair Accessories by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Hair Accessories, 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.
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.
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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
New product innovations are a key trend gaining popularity in the hair accessories market. Major companies operating in the hair accessories sector are focused on developing new innovative products to increase their market share. For instance, in July 2022, Diva Divine Hair, an India-based premium retailer in hair extensions, launched an affordable yet premium quality line of clip-in hair extensions, hair toppers, wigs, and hair accessories. The products offered are made from 100% natural human hair, ranging from clip-in hair extensions that are easy to use and provide instant hair length and volume. Hair Toppers are available in various shapes and sizes. The Wigs collection is easy to apply and gives a natural look.
The hair accessories market report table of contents includes:
1. Executive Summary
2. Hair Accessories Market Characteristics
3. Hair Accessories Market Trends And Strategies
4. Hair Accessories Market – Macro Economic Scenario
5. Global Hair Accessories Market Size and Growth
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31. Global Hair Accessories Market Competitive Benchmarking
32. Global Hair Accessories Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Hair Accessories Market
34. Hair Accessories Market Future Outlook and Potential Analysis
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