USD 20.39 billion
Hair Accessories Market Size, Share, Growth Analysis, By Type(Clips and Pens, Head bands, Wigs and Extension, Elastic & Ties), By Distribution Channel(Online, Offline), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30L2084 |
Region:
Global |
Published Date: April, 2024
Pages:
198
|Tables:
64
|Figures:
79
Hair Accessories Market Insights
Global Hair Accessories Market size was valued at USD 20.39 billion in 2022 and is poised to grow from USD 22.00 billion in 2023 to USD 40.42 billion by 2031, at a CAGR of 7.9% during the forecast period (2024-2031).
Global hair accessories market is anticipated to grow over the coming years as a result of factors such as consumers' growing preference for fashionable or trendy products that also serve practical reasons. Also, the rapid advancement of advanced production technologies, the popularity of numerous design trends and haircuts, and the ease with which appealing accessories are available are all anticipated to encourage more consumers to make purchases the market's expansion as a result of it. In addition, the introduction of several items, such as ties, barrettes, clips, and headbands, with innovative materials, styles, and shapes that are both fashionable and functional is anticipated to accelerate the expansion of the hair accessory market in the years to come. In order to improve the quality of the finished hair product and give the hair a stylish and smooth appearance, major companies are investing in automated manufacturing processes like designing, weaving, washing, and colouring. The inherent qualities of the raw materials used in diverse hair products are carefully preserved by manufacturers by employing high-quality chemicals and conditioners. The market is expected to grow faster due to ongoing improvements in product quality and designs.
US Hair Accessories Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Elastic and Ties
Fastest Growth
Wigs and Extension
Growth Rate
7.9% CAGR
Global Hair Accessories Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Hair Accessories Market Segmental Analysis
Global Hair Accessories Market is segmented on the basis of Type, Distribution Channels and region. By Type, the market is segmented into Clips and Pens, Head bands, Wigs and Extension and Elastic and Ties and Others. By Distribution Channels, market is segmented into Online & Offline. By region, the market is divided into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Type
The elastics and ties segment dominated the market. Due to the broad variety of products available in terms of design, form, and material, the elastics and ties market has been expanding. Previously, these products were only made of leather or rubber, but as manufacturing techniques have advanced, producers have begun creating items out of other materials, such as silk and mesh, to produce a trendier and more elegant item that not only holds the hair in place but also accessories the outfit.
The wigs and extensions market are predicted to be the fastest-growing product segment. The advent of human hair-based wigs and extensions, which are of higher quality than those created from synthetic materials, has contributed to the wigs and extensions market's tremendous growth in popularity. Customers with curly and textured hair are highly sought-after and on-trend when it comes to wigs and extensions.
Analysis by Distribution Channels
The general retailers segment dominated the global market. Due to the significant consumer desire for buying hair accessories from general stores, which enjoy high customer preferences, the category is predicted to maintain its market dominance throughout the forecast period. Small- to large-scale local retailers are classified as general stores.
The online platform is fastest growing segment. One of the key elements influencing the sales through the online channel is the change in consumer shopping behaviour. Companies now provide products through this channel due to growing consumer preference for internet platforms. Consumers are being encouraged to choose the online distribution channel for purchases thanks to advantages of online shopping. This has prompted the major market participants to sell their goods directly to customers (D2C) or via independent retailers like Amazon
Global Hair Accessories Market By Products
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Hair Accessories Market Regional Insights
Asia Pacific dominated the global hair accessory market. Demand has been fuelled by the growing number of working women, particularly in the corporate sector and fashion business, in developing nations throughout the region like India, Indonesia, and China. According to BRINK News, there were 49.8% of working women in Asia, with a high proportion of these women living in East Asia (63.3%). Wigs serve as simpler alternatives to hair transplant operations, and the region's abundant supply is anticipated to increase product demand throughout the course of the projection period. According to a World’s Top Exports article in June 2021, Hong Kong, India, and Myanmar were responsible for more than 70% of the total global wigs’ exports.
Europe market is projected to have the fastest growth rate. The demand for clips, pins, elastics, and ties to complete ensembles has risen as a result of changing fashion trends and customer style preferences. Over the projected period, their demand is anticipated to be driven by the significant demand from school-going girls for ties and elastics. Also, the availability of a wide range of goods in terms of colour, size, shape, pattern, price, and fabric is probably going to present the market in the area with a number of opportunities. Lindex and France Luxe are a couple of the region's well-known trademarks.
Global Hair Accessories Market By Region
- Largest
- Fastest
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Hair Accessories Market Dynamics
Drivers
Recent fashions and the influence of social media have altered how people view hair accessories
- The hair accessories market is being driven forward by the rising awareness of the most recent hair accessory trends. The introduction of social media and digital media has increased the distribution of fashion trends and the newest hair accessory goods available on the market. The public's perspective of hair accessories has evolved because to tutorials, makeover videos, and other kinds of digital media that feature celebrity connections through paid partnerships and businesses as well as the expanding number of social media influencers. The growth of the market for hair accessories will also be significantly impacted by the e-commerce sector's expansion.
Product design and quality are constantly being improved
- To increase the quality of the finished hair product and give the hair a fashionable and smooth appearance, major companies are investing in automated manufacturing processes like designing, weaving, washing, and colouring. The natural qualities of the raw materials used in various hair products must be preserved, thus manufacturers are concerned with employing high-quality chemicals and conditioners. Market expansion is anticipated to be fuelled by ongoing improvements in product quality and design.
Restraints
Damage to hair scenarios
- Hair damage is more likely when hair accessories are worn. The most often used hair accessories in the world are rubber bands and hairpins, yet using these products can cause hair to tangle and fall out. Moreover, using the incorrect accessories can cause damage to hair and cause a lot of hair to fall out. A person should be aware of their hair type before selecting a hair item that complements it.
Changing Fashion Trends
- Changing fashion trends can be both a driving force and a restraint for the global hair accessories market. On one hand, consumers are always looking for the latest and trendiest hair accessories, which can create opportunities for manufacturers to introduce new products and stay relevant in the market. On the other hand, keeping up with rapidly changing fashion trends can be challenging and costly for manufacturers, especially small and medium-sized ones. Additionally, some trends may be short-lived and not have a lasting impact on the market, while others may become staples and lead to long-term growth. Moreover, the changing fashion trends can also result in a saturated market with a lot of competition, making it difficult for new entrants to establish themselves. It can also result in the need for frequent updates and product launches to keep up with consumer demand, leading to increased production costs and lower profit margins. Additionally, if manufacturers fail to accurately predict and respond to the latest trends, they may end up with excess inventory that becomes difficult to sell, leading to financial losses.
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Hair Accessories Market Competitive Landscape
The Global Hair Accessories Market is increased product accessibility via all channels, both offline and online, is the primary goal of hair accessory makers. Due to the presence of numerous local and unstructured companies in different locations, the sector has moderate-to-low entry barriers. As a result of the product's specialised market, marketers concentrate on grabbing consumers' attention through various forms of advertising and promotional campaigns.
Top Player’s Company Profiles
- LVMH Moët Hennessy Louis Vuitton SE
- L'Oréal S.A.
- Procter & Gamble Co.
- Johnson & Johnson
- Unilever PLC
- Kao Corporation
- Goody Products, Inc.
- Conair Corporation
- Scünci International Ltd.
- Ficcare, Inc.
- Lady Jayne Ltd.
- Tasha Apparel LLC
- ALEXANDRE DE PARIS
- American Hair Tie Co.
- DEXEUS LLC
- Claire's Stores, Inc.
- Bellefixe Paris
- Marianna Industries, Inc.
- WIG-O-MANIA GmbH
- Scunci Accessories
Recent Developments
- In February 2024, GIMME Beauty, a health and beauty company dedicated to creating innovative hair solutions, unveiled the introduction of new products to its lineup, including the Double Claw Clip Duo available in black and tan, as well as the Large Barrel Double Claw Clip in black.
- In March 2024, Claire’s is set to roll out its collection of fashion accessories and related products in over 4,400 Walgreens stores across the country by the end of the month.
- In February 2024, Beyoncé unveiled her latest venture: a hair care line named 'Cécred'.
- In October 2023, Emi Jay, known for its fashion-forward hair accessories like claw clips, introduces a new addition to its product lineup: Angelstick, marking the brand's foray into haircare products.
Hair Accessories Key Market Trends
- Growing Demand for Organic and Natural Hair Accessories: The growing demand for organic and natural hair accessories is one of the significant trends in the global hair accessories market. Consumers are becoming increasingly conscious about the impact of products on the environment and their health, leading to a shift towards natural and eco-friendly hair accessories. The trend is expected to continue as people are now looking for products that are sustainable, cruelty-free, and free from harmful chemicals. Organic and natural hair accessories are made from natural materials such as wood, bamboo, cotton, and other plant-based materials. These materials are biodegradable, and they do not harm the environment. Besides, these products are free from synthetic chemicals such as phthalates, parabens, and sulfates that can be harmful to the body. The demand for organic and natural hair accessories is being driven by the increasing awareness about sustainability and environmental protection. Consumers are now more concerned about the impact of their purchases on the environment, and they are looking for products that are eco-friendly and sustainable. The trend is expected to continue as more people become conscious of the need to protect the environment. Companies in the hair accessories market are responding to the trend by developing organic and natural hair accessories. They are using natural and eco-friendly materials to manufacture their products, and they are also ensuring that their production processes are sustainable. Companies are also adopting sustainable packaging practices to reduce waste and promote environmental protection.
Hair Accessories Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global hair accessories market analysis, the market is being driven by factors such as the rising demand for hair accessories among both men and women, increasing awareness about hair care, and the popularity of fashion trends. The market is also being driven by increasing awareness about hair care, with consumers seeking products that protect and maintain hair health and increasing focus on sustainability and eco-friendliness. Consumers are becoming more conscious of the impact of products on the environment, leading to a shift towards organic and natural hair accessories made from eco-friendly materials. Asia Pacific dominated the global market. Companies are also adopting sustainable production practices to meet consumer demand. One of the significant challenges is the intense competition among companies in the market. Companies are investing heavily in marketing and innovation to differentiate their products and gain a competitive advantage. Another challenge is the threat posed by counterfeit products, which can negatively impact the reputation of companies in the market.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 20.39 billion |
| Market size value in 2031 | USD 40.42 billion |
| Growth Rate | 7.9% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
Recent Developments
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Hair Accessories Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Hair Accessories Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Hair Accessories Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Hair Accessories Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Hair Accessories Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Hair Accessories Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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