GVR Report cover Hair Accessories Market Size, Share & Trends Report

Hair Accessories Market Size, Share & Trends Analysis Report By Product (Clips & Pins, Wigs & Extensions, Elastics & Ties), By Distribution Channel (Supermarkets & Hypermarkets, General Stores, Online), By Region, And Segment Forecasts, 2021 - 2028

  • Report ID: GVR-3-68038-506-9
  • Number of Pages: 85
  • Format: Electronic (PDF)

Report Overview

The global hair accessories market size to be valued at USD 31.6 billion by 2028 and is expected to grow at a compound annual growth rate (CAGR) of 7.7% during the forecast period. 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. The COVID-19 pandemic has had an adverse effect on the market. The early onslaught of the pandemic disrupted the market in worst-hit countries such as India, Brazil, and Italy. China has historically been one of the major suppliers of key raw materials and ingredients for manufacturing various types of hair accessories and many global manufacturers have been relying on China for the same.

U.S. Hair Accessories Market size, by product

Rapid development in production technologies, evolving fashion trends, and hairstyles, and the availability of various attractive accessories have driven consumers to purchase hair accessories. The introduction of products such as clips, barrettes, ties, and headbands in trendy designs, materials, and shapes that are functional, and fashionable has also been spurring the growth of the market.

Healthy, glossy, and well-groomed hairdos have become crucial in the routine among consumers in the U.S. to enhance their appearance. Thus, individuals take care of their hair, experiment with different haircuts, and do not shy away from trying trendy and innovative accessories as per their desire, which is fueling the demand among consumers. The rising preference for grooming products is expected to boost the market.

The internet has played a key role in making consumers more familiar with hair accessories through social media influencers, bloggers, and vloggers. A significant number of millennials are following internet celebrities and influencers to understand and enhance their skills in personal grooming, makeup, and fashion. Over the last few years, consumers have also been showing a preference for products that are easy to use.

Consumer demand has been increasing over the last few years, and this trend is likely to continue in the upcoming years. An increasing number of consumers are gaining access to the internet, and, consequently, to multiple platforms that offer beauty products including hair accessories. People are also becoming increasingly aware of new beauty and grooming trends.

Hair Accessories Market Trends

The rapid advancements in advanced manufacturing technologies followed by the prevalence of diverse fashion trends, haircuts, and the increased accessibility of appealing accessories projected to entice a broader customer base are some factors that have fueled the market expansion. Factors such as an increased inclination for fashionable goods that serve functional purposes and experimenting with trendy hairstyles are expected to drive the market growth. The introduction of new items such as clips, barrettes, ties, and headbands with innovative materials, shapes, and sizes that are both useful and fashionable is anticipated to augment the growth of hair accessories market in the coming years.

Hairpins and elastic bands are the most often used hair accessories around the world. However, the incorrect use of accessories can cause hair damage and severe hair loss. It is crucial to know the hair type prior selecting a hair item and accessories. People are spending more on garments, fashion, and accessories with the rise in their disposable income. In addition, the increase in population of working women is shaping the market growth as the market witnessed a rise in spending on trendy accessories. These factors have led the market toward growth opportunities.

Distribution Channel Insights

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 from general stores as these places enjoy high customer preferences. General stores include small-to-large neighborhood stores.

The online platform is expected to register a CAGR of 8.2% from 2021 to 2028. 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.

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. This has influenced the key players in the market to offer products directly to consumers (D2C) or through third-party distributors such as Amazon.

Product Insights

The elastics and ties segment held the largest revenue share of 32.3% 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. 

Global Hair Accessories Market share, by distribution channel

The wigs and extensions segment is anticipated to be the second-fastest-growing product segment with a CAGR of 8.0% from 2021 to 2028. The wigs and extensions segment has been witnessing significant popularity owing to the introduction of human hair-based wigs and extensions, which are of superior quality compared to those made from synthetic materials. Wigs and extensions are extremely trending and are in high demand among consumers with curly and textured hair.

Regional Insights

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, has driven the demand in developing countries across the region, such as India, Indonesia, and China. According to BRINK News in March 2019, Asia had a working women population of 49.8% across the region, with a high percentage of the working women population in East Asia (63.3%).

Wigs act as easier alternatives to hair transplant procedures and their abundant production in the region is expected to boost product demand over the forecast 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. This scenario bodes well for the wigs and extensions segment.

Hair Accessories Market Trends by Region

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. This trend will contribute to the growth of the market in Europe during the forecast period.

The significant demand for elastics and ties by school-going girls is expected to drive their demand during the forecast period. Furthermore, the availability of a wide range of products in terms of color, size, shape, pattern, price, and fabric is likely to create several opportunities for the market in the region. Popular brands in the region include Lindex and France Luxe.

Key Companies & Market Share Insights

The market is characterized by the presence of a few well-established players and several small and medium players. Due to the increased demand, manufacturers have been launching new products around the globe. For instance, in June 2021, Invisibobble, announced its partnership with the worldwide leader in innovative children's creative products, Crayola to manufacture limited edition accessories.

This ongoing partnership falls in line with Invisibobbles' focus on expanding their business in the kids' segment. Similarly, in November 2020, Flair announced that it had added Fromm to its portfolio of brands, and will stock Fromm’s range of color accessories, scissors, and combs. This product line features modern, sophisticated finishes, in addition to enhancing the experience of every consumer.

Recent Developments

  • In January 2022, Claire's Introduced same-day click & collect in the United Kingdom and the United States

  • In May 2022, H&M Group tested tech-enabled shopping experience for customers in its U.S. locations

 Some of the prominent players in the hair accessories market include:

  • 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

Hair Accessories Market Report Scope

Report Attribute

Details

Market size value in 2021

USD 18.7 billion

Revenue forecast in 2028

USD 31.6 billion

Growth Rate

CAGR of 7.7% from 2021 to 2028

Base year for estimation

2020

Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD billion and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, distribution channel, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Germany; U.K.; China; India; Brazil; South Africa

Key companies profiled

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

Customization scope

Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

 

Global Hair Accessories Market Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this study, Grand View Research has segmented the global hair accessories market report on the basis of product, distribution channel, and region.

Global Hair Accessories Market Segmentation

  • Product Outlook (Revenue, USD Billion, 2016 - 2028)

    • Clips & Pins

    • Headbands

    • Wigs & extensions

    • Elastics & Ties

    • Others

  • Distribution Channel Outlook (Revenue, USD Billion, 2016 - 2028)

    • Hypermarkets & Supermarkets

    • General Stores

    • Online

  • Regional Outlook (Revenue, USD Billion, 2016 - 2028)

    • North America

      • U.S.

    • Europe

      • Germany

      • U.K.

    • Asia Pacific

      • China

      • India

    • Central & South America

      • Brazil

    • Middle East & Africa

      • South Africa

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