Global Hair Accessories Market by Product (Elastics & Ties, Wigs & Extensions) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global hair accessories market was worth USD 20.0 billion in 2018. It is projected to grow at a 15.2% CAGR between 2019 and 2025. Market growth can be attributed to growing preference for trendy products that both serve their purpose and give the hair a fashionable look.

Companies are investing in automated manufacturing processes like dyeing, weaving, washing, and designing to increase the quality of their raw materials. To preserve the quality of raw materials, manufacturers use high quality chemicals and conditioners. Customers will be attracted to the global market by continuous innovation and improvements in product quality and design.

Wigs and extensions, particularly among African-American descendants, are a popular accessory, especially in the U.S. and Europe. These consumers are more likely to buy extensions and wigs due to their curly hair and Halloween celebrations. The market is also growing due to the increasing preference of Caucasian customers for accessories made from human hair. Due to the introduction of accessories made from human hair, wigs and extensions are gaining popularity. They are more durable than synthetic materials.

The market share of Asian consumers was smaller than the rest, as Asians use wigs to cover hair loss. Despite rapid technological advancements, changing fashion trends, hairstyles, and the availability of many attractive accessories, this market has gained significant acceptance. The market has seen a rise in the popularity of trendy accessories such as headbands, clips, ties and barrettes made from fashionable materials and styles that are both functional and stylish.

Market growth has also been fueled by the influence of magazines and fashion media. The market is expected to grow due to the increasing popularity of tutorials, videos, and photos of fashionable hairstyles and accessories. The market will be driven by the availability of hair products like sequenced and ornamented bands, clips, and pins on e-commerce sites, which are often not available offline.

Product Insights

The largest share, at over 30.0%, was held by elastics and ties in 2018. Continuous product development in terms od shapes and materials is responsible for the market's growth. These products were originally only available in rubber or leather material. However, with improved production technology, manufacturers are now able to develop products that have a bulkier effect and support hair while also adding style to the outfit. Because they are easy to find, affordable, and offer a large selection, hair elastics and ties have been a popular choice for decades. They are also a must-have for women who want to manage their hair.

The highest CAGR for extensions and wigs is 15.5%, which is expected to continue over the forecast period. High demand among African descendants living in North America and Europe for hair accessories is responsible for the market's growth. This is due to their long hair. South African consumers are also expected to increase the market demand. These days, consumers are more conscious about hairstyles and will invest in products that make their hair look better. This is expected to boost the global market.

Distribution Channel Insights

In 2018, 39.7% of all sales were made in general stores. There are many hair accessories available at general stores, which can be found in local beauty shops or retail stores.

In the coming years, online retail will experience significant growth. This segment is expected to grow due to its increased penetration and smart devices like tablets and mobile phones. It also offers benefits such as easy payment options and discounts. Manufacturers are being forced to sell their products online due to increasing consumer preference.

Regional Insights

In 2018, North America accounted for the largest percentage of over 30.0%. The market has grown despite elastics and tie being an essential necessity for women. Other factors, such as the high spending power of African descendants and their desire for hair accessories, have also contributed to its growth. The market is expected to grow in the future due to the growing popularity of Halloween and the increasing demand for hair accessories like headbands and wigs.

The market is expected to grow significantly in the future, with significant contributions from other regions like Asia Pacific, Europe and MEA. The demand for accessories to enhance the look of hair has increased due to the changing fashion trends and consumers' changing style statements. This trend will contribute to the future growth of the market.

Market Share Insights & Key Companies

J&D Beauty Products, Goody Products Inc., Claires; LATADA; Conair Corporation, Diana Enterprise North America Inc., and Hairline Illusions are some of the major players in this market. To meet the constantly changing fashion statements of consumers, companies are active in the introduction of new products that incorporate trendy designs, materials and shapes. As a daily necessity for women, elastics and ties are a major product category. Companies continue to introduce hair products in a variety of designs and colors, including scrunchies that are suitable for thick or thin hair, wired elastics, and non-greasy, sip-proof ties.

The Hair Accessories Market Report Scope

The Report Covers Certain Segments

This report forecasts revenue growth at all levels, including country, regional and global. It also provides analysis of industry trends and potential opportunities for each sub-segment between 2015 and 2025. Grand View Research has divided the global hair accessories market by product, distribution channel, region.

• Product Outlook (Revenue, USD Billion, 2015 - 2025)

  • Clips & Pins

  • Headbands

  • Wigs & Extensions

  • Elastics & Ties

  • Other

• Distribution Channel Outlook (Revenue USD Billion, 2015-2025)

  • Supermarkets and Hypermarkets

  • General Stores

  • Online

• Regional Outlook (Revenue USD Billion, 2015-2025)

  • North America

    • U.S.

  • Europe

    • Germany

    • U.K.

  • Asia Pacific

    • China

    • India

  • Central & South America

  • Middle East & Africa (MEA)

    • South Africa

These are the most frequently asked questions about this report

b. Global hair accessories market was valued at USD 22.8 Million in 2019, and is forecast to grow to USD 26.2 Million in 2020.

b. Global hair accessories market will grow at a compound annual rate of 15.2% between 2019 and 2025, reaching USD 53.6 millions by 2025.

b. North America was the market leader in hair accessories with a 31.5% share in 2019. This can be attributed to Halloween celebrations that are growing in North America.

b. J&D Beauty Products, Goody Products Inc., Claires; LATADA; Conair Corporation, Diana Enterprise North America Inc., and Hairline Illusions are some of the key players in the hair accessories market.

b. The market is growing due to a preference for trendy products that both serve their purpose and give the hair a fashionable look.

Up Market Research published a new report titled “Hair Accessories Market research report which is segmented by Product (Elastics & Ties, Wigs & Extensions), By Players/Companies J&D Beauty Products; Goody Products Inc; Claires; LATADA; Conair Corporation; Diana Enterprise North America Inc; and Hairline Illusions”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Hair Accessories Market Report Segments:

The market is segmented by Product (Elastics & Ties, Wigs & Extensions).

Hair Accessories Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Hair Accessories Market

Overview of the regional outlook of the Hair Accessories Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Hair Accessories Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Hair Accessories Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Elastics & Ties

                2. Wigs & Extensions

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Hair Accessories Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
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Reasons to Purchase the Hair Accessories Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.