Headwear Market size is set to grow by USD 7.84 billion from 2023-2027, Increasing fashion consciousness and desire to enhance personal style to boost the market growth, Technavio

NEW YORK, July 19, 2024 /PRNewswire/ — The global headwear market  size is estimated to grow by USD 7.84 billion from 2023-2027, according to Technavio. The market is estimated to grow at a CAGR of  6.57%  during the forecast period. Increasing fashion consciousness and desire to enhance personal style is driving market growth, with a trend towards athleisure and sports-inspired headwear. However, greater availability of counterfeit products  poses a challenge. Key market players include Adidas AG, Akubra Hats Pty Ltd., Capri Holdings Ltd., Christy and Co. Ltd., Columbia Sportswear Co., FLEXFIT LLC, Giorgio Armani S.p.A., Hats.com LLC, Kering SA, Lock and Co. Hatters, Maus Freres SA, New Era Cap LLC, Nike Inc., PUMA SE, PVH Corp., Ralph Lauren Corp., Sports Direct International plc, SUPERDRY PLC, Under Armour Inc., and VF Corp..

Get a detailed analysis on regions, market segments, customer landscape, and companies – Click for the snapshot of this report

Key Market Trends Fueling Growth

The global headwear market is experiencing growth due to the rising popularity of athleisure and sports-inspired fashion. Consumers seek headwear that combines style with functionality, as they desire headwear that enhances their active lifestyles. This trend is driven by the increasing demand for headwear that wicks away moisture, keeping the head dry and comfortable during physical activity. Headwear options catering to different head sizes and adjustable closures ensure optimal comfort. Lightweight headwear enables ease of movement and avoids discomfort during outdoor pursuits. Examples of this trend include sports caps, visors, and performance beanies, which offer moisture management and cater to the needs of athletes, fitness enthusiasts, and active individuals. Consequently, the market for headwear with athletic and sporty features is anticipated to expand significantly during the forecast period.

The headwear market is experiencing a surge in demand, particularly among the millennial demographic. New Era Caps and Autumn Headwear lead the trend in fashion, while Sports headwear remains popular among athletes and bike riders. Army forces and firefighters rely on functional, protective headgear. Smart helmets prioritize safety, addressing motorcycle fatalities and rider comfort. Consumers are increasingly concerned with dehydration and skin irritation, driving demand for breathable, sustainable materials. Eco-friendly materials like recycled fabrics, organic cotton, and biodegradable seaweed are gaining traction. Personalization options through fashion brands and sports teams add value. Headbands, beanies, and e-commerce platforms cater to diverse consumer preferences. Sustainable fashion and active lifestyle accessories, including padded headbands and embellished headbands, continue to be trendy styles. Apple leathers and breathable fabrics offer fashionable solutions for consumers seeking comfort and style.

Discover 360° analysis of this market. For complete information, schedule your consultation- Book Here!

Market Challenges

The global headwear market faces a persistent issue with counterfeit products, which negatively impacts both brand reputation and consumer safety. These imitation headwear items, often produced with inferior materials and inadequate manufacturing standards, tarnish the value and credibility of authentic brands. The ease of copying designs, logos, and trademarks results in an overwhelming influx of counterfeit headwear products in the global apparel, clothing, and luxury goods market. Popular sports team headwear, such as hats and caps, are frequently targeted, leading to a deluge of unlicensed copies that mislead consumers and harm the reputation of legitimate brands. This problem is expected to remain a significant challenge for the headwear market throughout the forecast period.The headwear market encompasses various styles, from headbands and beanies to caps, catering to consumers seeking fashionable accessories and functional active lifestyle gear. Challenges include sourcing sustainable fabrics, such as seaweed, biodegradable materials, and apple leathers, while maintaining trendy styles like padded headbands and embellished ones. Brands like BreetheModest Activewear and Sports hijabs address diverse consumer needs. Traditional players like New Era, Hometown Heroes, and Melin collaborate with athletes and sports organizations for sponsorships and brand partnerships. E-commerce, online sales channels, social media, and influencer marketing are essential tools for reaching customers. Raw material sourcing, skilled labor, and recycled polyester are key considerations for sustainable production. Brands like MycoWorks, Nick Fouquet, and Pipolaki explore innovative materials like Reishi alt-leather. The market includes winter apparel, athleisure, and hair adornments, with players like Louie Vito and Jae Tips offering a range of hats and caps.

For more insights on driver and challenges – Download a Sample Report

Segment Overview

This headwear market report extensively covers market segmentation by

Distribution Channel1.1 Offline1.2 OnlineProduct Type2.1 Caps and hats2.2 Beanies2.3 OthersGeography 3.1 APAC3.2 North America3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Offline-  The headwear market in specialty retail stores and departmental stores contributes significantly to its growth. Specialty stores provide a vast selection of headwear brands and products, attracting customers with their extensive offerings. Department stores, on the other hand, differentiate themselves through exclusive designer collections, private-label brands, and superior customer service. Galeria Karstadt Kaufhof GmbH and E. Breuninger GmbH & Co are notable examples of departmental stores worldwide. Customers value convenience, product mix, brand availability, and durability when purchasing headwear from these stores. Despite the decline in revenue for the offline segment due to online shopping, vendors continue to expand their presence in local and regional markets through specialty stores and other retail formats. Competition intensifies as retailers adopt strategies like competitive pricing and wide assortments to remain competitive in the global headwear market. The offline segment is expected to grow due to these developments.

For more information on market segmentation with geographical analysis including forecast (2023-2027) and historic data (2017 – 2021)  – Download a Sample Report

Learn and explore more about Technavio’s in-depth research reports

In the dynamic landscape of sports sponsorship, the global apparel market plays a pivotal role. Brands strategically align with athletes and teams to enhance visibility and resonate with diverse audiences worldwide. This synergy not only boosts brand awareness but also drives consumer engagement and loyalty. As sports continue to captivate global audiences, the apparel market within sports sponsorship remains a lucrative avenue for brands seeking to elevate their presence and connect with passionate fans on a profound level.

Research Analysis

The headwear market encompasses a wide range of fashion accessories, including headbands and beanies, that serve as style statements for consumers. These items are not just functional, but also essential during winter months as part of winter apparel. The fabric used in headwear can vary, with an increasing trend towards sustainable and eco-friendly materials like seaweed and biodegradable plastics. Apple leathers and Melin are some brands leading the way in this area. Headwear is not just for fashion, but also for practical purposes. For instance, bike riders and military personnel use helmets for safety, while firefighters require protective headgear. Smart helmets are a new innovation in this space, offering features like temperature control and communication systems. Despite the benefits, headwear can lead to issues like dehydration, skin irritation, and hair diseases if made from non-breathable materials. Therefore, the focus is shifting towards sustainable materials that are breathable and gentle on the skin. E-commerce and online sales channels have revolutionized the headwear market, making it accessible to consumers worldwide. Social media influencers like Louie Vito have also played a significant role in promoting headwear trends and increasing sales. The future of headwear looks bright, with a focus on raw materials, skilled labor, and innovation to meet the evolving needs of consumers.

Market Research Overview

The headwear market encompasses a wide range of fashion accessories, including headbands and beanies, that serve as style statements for consumers. Headbands, available in padded and embellished varieties, cater to active lifestyles as well as fashion-forward individuals. Sustainable fashion trends have led to the use of biodegradable materials like seaweed and apple leathers in headwear production. Trendy styles in headwear include breathable Modest Activewear, sports hijabs, caps, and hair adornments. Brands are partnering with sports organizations, influencers, and e-commerce platforms to reach the millennial demographic. Raw materials, such as recycled polyester and organic cotton, are being used to create eco-friendly and personalized headwear options. Safety headwear, like smart helmets, is also a growing segment of the market, catering to athletes, bike riders, army forces, and firefighters. The market faces challenges such as plastic trash and skin irritation, which are being addressed through the use of sustainable and recycled fabrics. Brands like Melin, Louie Vito, and Hometown Heroes are leading the way in innovative headwear designs and materials.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

Distribution ChannelOfflineOnlineProduct TypeCaps And HatsBeaniesOthersGeographyAPACNorth AmericaEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/headwear-market-size-is-set-to-grow-by-usd-7-84-billion-from-2023-2027–increasing-fashion-consciousness-and-desire-to-enhance-personal-style-to-boost-the-market-growth-technavio-302200741.html

SOURCE Technavio