Dublin, Sept. 08, 2023 (GLOBE NEWSWIRE) -- The "Hair Accessories Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global hair accessories market has witnessed a robust growth trajectory, surging from $22.1 billion in 2022 to $25.27 billion in 2023, exhibiting an impressive Compound Annual Growth Rate (CAGR) of 14.3%. Projected forecasts indicate continued expansion, with estimates pointing to a market value of $40.18 billion by 2027, underpinned by a steady CAGR of 12.3%.
Comprehensive Insights for Strategic Maneuvers
The hair accessories research report forms an integral part of a series of impactful reports, delivering comprehensive hair accessories statistics. Encompassing global market size, regional distribution, competitor analysis with market shares, detailed segmentation, trends, opportunities, and essential data, this report provides an all-encompassing perspective for thriving in the dynamic hair accessories industry. It provides a thorough analysis of both current and future scenarios in the industry.
Innovative Product Offerings Shape the Landscape
A pivotal trend shaping the hair accessories market is the proliferation of new product innovations. Key players within the sector are strategically focusing on developing innovative products to expand their market share. For example, Diva Divine Hair, a notable India-based premium hair extension retailer, introduced an affordable yet premium quality line of clip-in hair extensions, hair toppers, wigs, and accessories in July 2022. Crafted from 100% natural human hair, these offerings range from clip-in extensions for instant hair length and volume to various shapes and sizes of hair toppers. This trend is further exemplified by Creative Brands' acquisition of Pomchies, a US-based wholesale company offering a range of hair accessories.
Regional Dynamics and Strategic Expansion
Intriguingly, North America led the hair accessories market in 2022, while Asia-Pacific is anticipated to be the fastest-growing region in the foreseeable future. The report comprehensively covers regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Aesthetic Focus Fuels Market Growth
The growing emphasis on appearance and aesthetics among consumers is a driving force propelling the expansion of the hair accessories market. Hair plays a pivotal role in enhancing one's overall image, and the demand for hair care products is on the rise as individuals seek healthy, well-groomed hair. An illustrative example is a survey conducted by Betterhalf.ai in November 2021, which found that 43% of respondents in India consider 'looks' the most important factor in a matrimonial profile. This underscores the influence of aesthetics on driving demand within the hair accessories market.
Diverse Product Range and Value Insights
The hair accessories market encompasses sales of a wide array of products, including barrettes, cloth ornaments, and hair ribbons. The market value encompasses both the value of goods sold by manufacturers and related services, forming a comprehensive overview of the market's dynamics.
Strategic Benefits Unveiled
The report serves as an invaluable tool for businesses seeking a global perspective on the hair accessories market. It offers insights into the market's response to the COVID-19 pandemic, its reaction to the Russia-Ukraine war, and the ripple effects on agriculture, energy, and mineral commodity supply. Armed with localized data and analysis, enterprises can formulate regional and country strategies, identify investment-worthy growth segments, outperform competitors using forecast data, and gain a nuanced understanding of customer preferences through the latest market shares. Additionally, it enables businesses to benchmark performance against key competitors and enrich internal and external presentations with reliable data and analysis.
Unlocking Insights for Strategic Decision-Making
As the global hair accessories market continues its dynamic journey, this report serves as an indispensable resource for navigating the evolving landscape. By providing critical insights into market characteristics, size, growth, segmentation, and regional dynamics, the report empowers businesses to make informed decisions, capitalize on growth prospects, and proactively shape their strategies to outperform competitors and flourish in this thriving market.
Major players in the hair accessories market are
- Hairline Illusions LLC
- Henry Margu
- Goody Products Inc.
- Diana Enterprise Inc
- Conair Corporation
- JD Beauty
- Motown Tress
- Hennes & Mauritz AB
- Forever 21
- Fromm International
- Annie International Inc
- Silke London Ltd
- Hair Drama Company
- Bunzee Bands
- Riot Accessories Ltd.
- SwirlyCurly Hair
- SOQ Jewelry
- Creative Findings
- Good Hair Days
- Jennifer Behr
- Lele Sadoughi
- PuffCuff LLC
- Hairline Illusions
- LATADA
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $25.27 billion |
| Forecasted Market Value (USD) by 2027 | $40.18 billion |
| Compound Annual Growth Rate | 12.3% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/5ghbcj
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