Hair Accessories Market Size, Share, Growth, and Industry Analysis, By Type (Cloth Type Hair Accessories, Metal Type Hair Accessories, Plastic Type Hair Accessories, Other), By Application (Personal Decoration, Commercial Decoration), Regional Insights and Forecast to 2031

Updated On: 29 April 2024

HAIR ACCESSORIES MARKET REPORT OVERVIEW

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The global hair accessories market size was USD 19510 million in 2022 and the market is projected to touch USD 42293.14 million by 2031, exhibiting a CAGR of 8.6 % during the forecast year. In the market study, our analysts have considered Hair Accessories players such as Henry Margu, Hairline Illusions, VIVICA A. FOX HAIR COLLECTION, Vixen Lace Wigs, Motown Tress, WigsCity, Diana Enterprise, LET’S GET LACED, Premium Lace Wigs, Hengyuan, Jifawigs, Xuchang Shengyuan Hair Products, Qingdao Honor Wigs, Henan Ruimei Real Hair, Qingdao Jinda Hair Products, Wigsroyal Hair Products, Ginny Lace Wigs, Xuchang Mrs Hair Products, Qingdao YunXiang Hair Products, Qingdao Mike & Mary Hair, HairGraces, China Best Wigs, Jinruili, Pop Lace Wigs and Qingdao Human Wigs.

A hair accessory is an item used to enhance an appearance. Common hair accessories include headbands, hair pins, ribbons and hair ties. Hair plays an important role in enhancing looks and appearance. Healthy, shiny and well-maintained hair enhances personality and appearance. As a result, people take care of their hair, try different hairstyles and make attractive accessories. Hair accessories are no longer limited to ribbons and pins. Nowadays, there is a wide variety of hair accessories available in the market especially for women who are big consumers of hair accessories.

Behind the growth of the market is the increase in popularity of fashion products that are useful and give the hairstyle a trendy look. The rise in popularity of hair accessories as a fashion item has also affected the hair accessories market. Hair accessories are no longer considered just functional items, but a stylish accessory that can accept any outfit. This is due to the growing popularity of fashion bloggers and influencers who often display hair accessories as part of their outfits.

COVID-19 Impact: Market Growth Restrained by Pandemic due to Supply Chain Disruptions

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

COVID-19 has had a negative impact on the hair accessories market. Production stoppages and unnecessary store closures across countries reduced sales and caused losses for manufacturers. Due to the relaxation of restrictions and the return of workers, the industry is expected to recover during the forecast period. China has historically been one of the most important suppliers of raw materials and ingredients for various hair supplements, and many global manufacturers have relied on China.

LATEST TRENDS

"Continuous Improvement of Product Design and Quality Augment Market Growth"

A latest trend in the global hair accessories market is that the Leading manufacturers invest in mechanical production processes such as drawing, weaving, washing and dyeing to improve the quality of the final product and give the hair a trendy and sleek look. Manufacturers are careful about using high quality chemicals and conditioners to preserve the natural properties of the raw materials used in various hair products. Continuous product design and quality improvement is expected to boost the growth of the market.

HAIR ACCESSORIES MARKET SEGMENTATION

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• By Type

Based on type the global market can be categorized into cloth type hair accessories, metal type hair accessories, plastic type hair accessories, other. These metallic colored hair accessories are essential in every woman's wardrobe. Metal hair accessory sellers something that perfectly matches your needs and aesthetic.

• By Application

Based on application the global market can be categorized into personal decoration, commercial decoration. Used to hold pieces of hair in place, these personal accessories usually include various decorative elements such as jewels, pearls or intricate designs.

DRIVING FACTORS

"Increasing Change in Public Perception of Hair Jewelry Influence By Social Media to Boost Market Growth"

Growing awareness of the latest trends in hair accessories is driving the hair accessories market growth. With social media and digital media, fashion trends and the latest hair extensions are more common. The increasing involvement of celebrities through paid partnerships and brands and the number of social media influencers has changed the public perception of hair accessories through tutorials, makeover videos and other digital media. The expanding online store is also significantly influencing the growth of the hair products market. DIY hair has become increasingly popular in recent years as more and more people choose to style their hair at home instead of going to salons. This is especially true for millennial and the generation that preferred to use hair products and tools to create their own unique look. This trend has been fueled by the rise of social media, which has made it easy to share hair tips and find inspiration for new looks.

"Increasing Technical Advances In Mass Production Of Plastic Products To Expand The Market"

Advances in mass production of plastic, fabric, and metal products allow manufacturers to produce more products at a lower cost. Compared to high-end luxury products, mass-produced hair and fashion accessories are the most important drivers of the industry. Additionally, the availability of several hair products from the industry such as decorative surfaces, ribbons and clips on the e-commerce site offers potential market growth opportunities in the coming years.

RESTRAINING FACTOR

"Distribution Of Several Fashion Websites To Raise Public Awareness to Impede Market Growth"

Proliferation of various fashion websites and blogs to create awareness among the general public and presence of fake products that are considered inauthentic by several manufacturers are expected to curb the market growth. Second, hair accessories are often considered a fashion accessory and as such are subject to the whims of fashion trends. This makes it difficult to forecast demand and can lead to inventory problems. Finally, hair accessories are often budget items and therefore the edges can be sharp. This makes it difficult to invest in marketing and product development, which can limit growth.

HAIR ACCESSORIES MARKET REGIONAL INSIGHTS

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"North America Dominate the Market due to Increased Purchasing Power And Demand For Various Hair Accessories"

North America dominates the global hair accessories market share due to increased purchasing power and demand for various hair accessories. Additionally, the growing popularity of Halloween celebrations is increasing customer preferences for hair accessories such as wigs and headbands, which is expected to drive market growth.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

The market is characterized by a number of established players and several small and medium-sized players. Due to increased demand, manufacturers have launched new products around the world. For example, in June 2021, Invisibobble announced a partnership with Crayola, the world leader in innovative children's and creative products, to produce limited edition supplies. This ongoing partnership is in line with Invisibobblesand#039; focus on expanding your business to children and others; segment. As a result, Flair announced in November 2020 that it had added Fromm to its brand portfolio by purchasing Fromm's range of colorful accessories, clippers and combs. This product line has a modern and sophisticated finish that enhances the experience of every consumer.

List of Market Players Profiled

• Henry Margu (U.S.)
• Hairline Illusions (U.K.)
• VIVICA A. FOX HAIR COLLECTION
• Vixen Lace Wigs (U.S.)
• Motown Tress (U.S.)
• Diana Enterprise (U.S.)
• LET’S GET LACED (U.S.)
• Premium Lace Wigs (U.S.)
• Hengyuan (Malaysia)
• Xuchang Shengyuan Hair Products (China)
• Qingdao Honor Wigs (China)
• Henan Ruimei Real Hair (Taiwan)
• Qingdao Jinda Hair Products (China)
• Wigsroyal Hair Products (China)
• Xuchang Mrs Hair Products (China)
• Qingdao YunXiang Hair Products (China)
• Qingdao Mike & Mary Hair (China)
• China Best Wigs (China)
• Qingdao Human Wigs (China)

INDUSTRIAL DEVELOPMENT

January 2022: Claire’s has launched same-day click-and-collect in the UK and US.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.