Market Size of Headwear Industry
| Study Period | 2018 - 2028 |
| Base Year For Estimation | 2021 |
| CAGR | 6.53 % |
| Fastest Growing Market | North America |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Headwear Market Analysis
The headwear market is projected to register a CAGR of 6.53% over the next five years.
Headwear, such as headbands and even beanies, are being perceived as fashionwear among consumers as a style statement than just a necessity. This paradigm shift observed in consumers’ buying behavior is anticipated to foster the headwear market during the forecast period. Major companies are increasingly launching headbands in trendy styles, such as padded and embellished, to attract greater consumer interest. Luxury retailer Prada offers a range of designer headbands, further aiding the hair accessories market.
The rapid urbanization of the population led to an improvement in fashion sensibility worldwide, acting as a driving factor for the market's growth. According to World Cities Report 2022, urban areas are already home to 55% of the world’s population, and this figure is expected to reach 68% by 2050. Other factors driving the headwear market's growth include the expanding fashion sector, changing lifestyles, and the rising need for convenience in terms of comfortability and easy availability. The headwear segment is mainly gaining popularity among the younger population as a fashion statement.
