News

The global Hair Accessories market size is expected to be worth around US$ 40.6 billion by 2030, according to a new report by Vision Research Reports.

The global Hair Accessories market size was valued at US$ 18.4 billion in 2020 and is anticipated to grow at a CAGR of 8.7% during forecast period 2021 to 2030.

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Report Coverage

Report Scope	Details
Market Size	US$ 40.6 Billion by 2030
Growth Rate	CAGR of 8.1% From 2021 to 2030
Base Year	2021
Forecast Period	2021 to 2030
Segments Covered	Product, Connectivity, Distribution Channel
Regional Scope	North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned	Targus; Dell Technologies Inc.; StarTech.com; ACCO Brands Corporation; HP Development Company L.P; Lenovo Group Limited; Plugable Technologies; TOSHIBA CORPORATION; Acer Inc.; Samsung Electronics Co., Ltd.

Growth Factors

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 is expected to drive the market throughout the forecasted period. Rapid development in production technologies, evolving fashion trends, and hairstyles, and the availability of various attractive accessories have driven consumers to purchase hair accessories.

Well-styled hair can enhance the overall physical appearance of a person. Over the past few years, people have been paying significant attention to their hair care and styling routines as hair play a crucial role in self-perception. Lately, hair accessories have become popular among all ages and income groups, and styles can range from schoolgirl staples to runway fashion. The availability of both premium and budget-friendly hair accessories has also boosted product demand and uptake.

By Distribution Channel Analysis

The general stores segment accounted for a revenue share of 47.8% in 2020. The segment is projected to retain its market dominance throughout the forecast period owing to the high consumer inclination toward purchasing hair accessories.

Benefits of online shopping, such as wide availability of products, the convenience of shopping anytime and anywhere, doorstep delivery, safe payment getaways, and discount offers, have been encouraging consumers to opt for the online distribution channel.

The online platform is expected to register a CAGR of 9.2% from 2021 to 2030. The shift in consumers’ shopping behavior is one of the major factors driving the sales through the online channel. Growing consumer preference for the online platform has prompted companies to offer products through this channel.

By Product Analysis

The elastics and ties segment held the largest revenue share of 33.3% in 2020 and is expected to maintain its dominance over the forecast period. The growth of the elastics and ties segment is attributed to the availability of a wide range of products in terms of design, shape, and material.

Earlier, these products were either available in leather or rubber; however, with improvements in production technologies, manufacturers have started developing products using different fabrics like silk, and mesh to create a trendier and more polished product that not only supports the hair but also accessorizes the outfit.

The wigs and extensions segment is anticipated to be the second-fastest-growing product segment with a CAGR of 9.0% from 2021 to 2030. The wigs and extensions segment has been witnessing significant popularity owing to the introduction of human hair-based wigs and extensions.

By Regional Analysis

Asia Pacific dominated the market for hair accessories and accounted for the largest revenue share of over 38.3% in 2020. The increasing number of working women, especially in the corporate sector and fashion industry.

Europe is the second-fastest-growing market and is expected to witness a CAGR of 7.7% from 2021 to 2028. Evolving fashion trends and changing style statements among consumers have increased the demand for clips and pins and elastics and ties to complement their outfits.

Key Players

• Goody Products Inc.
• Claire’s
• Conair Corporation
• H&M
• Forever 21
• Fromm International
• Annie International Inc.
• L. ERICKSON
• Silke London
• Invisibobble
• Hair Drama Company
• Bunzee Bands
• Riot Accessories LTD
• SwirlyCurly Hair
• SOQ Jewelry
• Creative Findings
• Good Hair Days
• Jennifer Behr

Market Segmentation

• By Product
  • Clips & Pins
  • Headbands
  • Wigs & extensions
  • Elastics & Ties
  • Others
• By Distribution Channel
  • Hypermarkets & Supermarkets
  • General Stores
  • Online
• Regional
  • North America
    • U.S.
  • Europe
    • Germany
    • U.K.
  • Asia Pacific
    • China
    • India
  • Central & South America
    • Brazil
  • Middle East & Africa
    • South Africa

The study objectives of this report are:

• To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
• Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• To define, describe and forecast the market by type, application and region.
• To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
• To identify significant trends and factors driving or inhibiting the market growth.
• To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
• To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
• To strategically profile the key players and comprehensively analyze their growth strategies.

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