Global Hair Accessories Market Overview
As per MRFR analysis, the Hair Accessories Market Size was estimated at 16.99 (USD Billion) in 2022.
The Hair Accessories Market Industry is expected to grow from 17.88(USD Billion) in 2023 to 28.2 (USD Billion) by 2032. The Hair Accessories Market CAGR (growth rate) is expected to be around 5.19% during the forecast period (2024 - 2032).
Key Hair Accessories Market Trends Highlighted
The hair accessories market continues to be driven by various factors. The growing popularity of hair extensions, wigs, and hairpieces among both men and women is attributed to the increasing demand for versatile styling options. Additionally, the rising trend of personalized hair accessories, such as custom-made hairpins and headbands, has opened up new market opportunities.
The increasing use of hair accessories in fashion shows, red carpet events, and social media has further spurred market growth. Fashion-forward consumers are seeking out unique and statement-making hair accessories to complement their outfits and create eye-catching looks. Moreover, the growing influence of celebrities and fashion bloggers is driving demand for hair accessories that reflect the latest trends and styles.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Hair Accessories Market Drivers
Rising Demand for Personal Grooming and Styling
The growing desire of consumers, especially millennials and Gen Z to explore the personal grooming and styling options, acts as an eminent driver of surge in the Global Hair Accessory Market Industry. A large number of individuals from general population have lately become more and more concerned about their grooming practices, which also provides them with the means to express their unique tastes and preferences using their hairstyle as a medium.Thus, an escalating demand for type-specific hair accessories that perfectly correspond with the user’s personal style arises. Moreover, pretty much every trendy look posted on social media by a celebrity or a blogger these days is completed with hair accessories – be it a vibrant scrunchy, a retro hairpin, or any type of headband. A hair accessory is also a very convenient and cost-effective way to turn even the simplest hairstyle into an Instagram-worthy image.
Growing Popularity of Hair Extensions and Wigs
Another factor contributing to the expansion of the Hair Accessories Market Industry is the increasing popularity of hair extensions and wigs. By using such extensions and wigs and other products of the kind that are available in the market, the interest patrons will see their looks drastically change almost overnight by making their hair longer, fuller, or of another color without requiring a risky haircut or potentially harmful chemical coloring.This trend is especially common among hair products that are made for women of color who have different hair textures. Such accessories are also sought after in show business as actors and performers can modify their hairstyles in a flash for different roles.
Increasing Disposable Income and Urbanization
Rising disposable income and urbanisation are also propelling the growth of the Hair Accessories Market Industry. With increasing disposable income, there is a larger section of the population who can purchase non-essential items and are choosing to invest in hair accessories to elevate their personal style. Furthermore, the increased urbanisation rate results in a more substantial population of fashion-forward individuals who are more likely to purchase hair accessories for a pop in of colour to their ensemble.
Hair Accessories Market Segment Insights
Hair Accessories Market Product Type Insights
The Hair Accessories Market is segmented by product type, which includes hair clips, headbands, hair ties, scrunchies, barrettes, and hairbands. Among these, hair clips held the largest market share in 2023, accounting for around 35%. The segment is expected to maintain its dominance throughout the forecast period, owing to the increasing popularity of hair clips as a versatile and stylish hair accessory. Headbands are projected to witness the fastest growth rate during the forecast period, driven by the rising trend of athleisure and the growing popularity of headbands as a fashion statement.The market growth is attributed to factors such as the increasing disposable income, rising consumer spending on personal care products, and the growing popularity of hair accessories as a fashion statement. Additionally, the increasing awareness about hair care and the growing trend of self-grooming are also contributing to the market growth. The Asia Pacific region is expected to be the largest market for hair accessories, owing to the increasing population and the growing demand for hair accessories in countries such as China, India, and Japan.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Hair Accessories Market Material Insights
The most crucial segment with a significant bearing on the dynamics of the Hair Accessories Market is the Material’ segment. Plastic was the dominant segment in 2023, holding a market share of approximately 42% due to its versatility, affordability, and design capability. The Metal segment will probably record the highest growth rate by 2032, primarily due to the increasing demand for premium and durable hair accessories among target customers. Fabric types of hair accessories are emerging as popular picks due to their comfort, and the fact that they are environmentally friendly.Wood and Leather segments target market niches that value products made from natural and environment-friendly material. The Silicone segment will also advance at a considerable rate, attributable to its hypoallergenic and waterproof nature. The presence of such diverse raw materials presents various opportunities for hair accessories manufacturers and producers.
Hair Accessories Market Price Range Insights
The Price Range segment is a crucial factor in understanding the dynamics of the Hair Accessories Market. The market is segmented into three major price ranges: Low-end ($0 - $10), Mid-range ($10 - $50), and High-end ($50 and above). The Low-end segment accounted for a significant portion of Hair Accessories Market revenue in 2023, due to its affordability and mass appeal. This segment includes a wide range of hair accessories such as basic hair ties, bobby pins, and headbands. The Mid-range segment is growing rapidly, driven by increasing consumer demand for stylish and functional hair accessories.This segment offers a wider variety of products, including headbands, hair clips, and hair extensions. The High-end segment targets consumers seeking luxury and exclusive hair accessories. This segment includes designer hair accessories, limited edition collections, and custom-made pieces. The Hair Accessories Market is expected to continue growing in the coming years, with the Mid-range and High-end segments expected to drive market growth.
Hair Accessories Market Distribution Channel Insights
The distribution channel segment plays a crucial role in the Hair Accessories Market. Offline stores, including salons, boutiques, and department stores, account for a significant portion of the market revenue due to the personalized shopping experience and the ability to physically examine the products. However, the rise of e-commerce has led to a surge in online sales, with brand websites and e-commerce platforms offering convenience and a wider product selection. Supermarkets and hypermarkets also contribute to the market growth by providing hair accessories as part of their beauty and personal care offerings.Each distribution channel caters to different consumer preferences and market segments, influencing the overall market dynamics.
Hair Accessories Market Usage Insights
The Usage segment is a crucial aspect of the Hair Accessories Market segmentation, offering insights into the diverse applications of hair accessories. The market is primarily divided into three major Usage segments: Daily Use, Special Occasions, and Professional Styling. The Daily Use segment holds a significant share of the Hair Accessories Market revenue, driven by the growing demand for functional and stylish hair accessories for everyday wear. This segment caters to the needs of individuals seeking to manage and style their hair conveniently and comfortably.Hair clips, headbands, and scrunchies are popular choices for daily use, with a wide range of materials and designs available. Special Occasions, such as weddings, parties, and formal events, represent another significant segment of the Hair Accessories Market. This segment is characterized by a higher demand for elaborate and decorative hair accessories that complement formal attire. Tiaras, hair combs, and hairpins with intricate designs and embellishments are commonly used for special occasions. Professional Styling is a growing segment in the Hair Accessories Market, driven by the increasing popularity of salons and hair stylists.This segment caters to the needs of hairdressers and hairstylists who utilize hair accessories for creating unique and sophisticated hairstyles. Specialized hair clips, brushes, and combs are essential tools for professional styling, enabling hairstylists to achieve precise and intricate looks. Overall, the Usage segment provides a comprehensive understanding of the diverse applications of hair accessories and the varying needs of different consumer groups. Understanding these segments is crucial for businesses operating in the Hair Accessories Market to tailor their products and marketing strategies accordingly, maximizing market growth and capturing a wider customer base.
Hair Accessories Market Regional Insights
The Hair Accessories Market is segmented into North America, Europe, APAC, South America, and MEA. The regional segmentation of the market is based on factors such as economic growth, population size, consumer spending patterns, and the presence of key players in the region. North America is expected to hold the largest share of the Hair Accessories Market in 2023, and is projected to continue to dominate the market throughout the forecast period. The region's large population base, high disposable income, and well-established fashion industry are key factors driving the growth of the Hair Accessories Market in North America.Europe is the second-largest market for Hair Accessories, and is expected to witness steady growth over the forecast period. The region's strong fashion industry and growing consumer awareness of hair accessories are contributing to the market's growth. APAC is the fastest-growing region in the Hair Accessories Market, and is expected to continue to grow at a significant rate over the forecast period. The region's large population base, rising disposable income, and growing urbanization are key factors driving the growth of the Hair Accessories Market in APAC.South America and MEA are relatively smaller markets for Hair Accessories, but are expected to witness moderate growth over the forecast period. The growing middle class and increasing consumer spending in these regions are contributing to the growth of the Hair Accessories Market in South America and MEA.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Hair Accessories Market Key Players And Competitive Insights
Major players in Hair Accessories Market industry are constantly striving to gain competitive advantage by introducing innovative products and expanding their geographical reach. Leading Hair Accessories Market players are focusing on developing new products that cater to the evolving needs of consumers. They are also investing in research and development to create products that are both stylish and functional. The Hair Accessories Market development is driven by factors such as increasing demand for hair accessories from both men and women, rising disposable income, and growing awareness about fashion trends. The Hair Accessories Market Competitive Landscape is expected to remain competitive in the coming years, with new entrants and established players vying for market share.L'Oréal is a leading Hair Accessories Market player with a strong global presence. The company offers a wide range of hair accessories, including hair brushes, combs, clips, and hair ties. L'Oréal is known for its high-quality products and its commitment to innovation. The company has a strong distribution network and a loyal customer base. L'Oréal is expected to continue to be a major player in the Hair Accessories Market in the coming years.Goody is another leading Hair Accessories Market player with a strong presence in the Americas and Europe. The company offers a wide range of hair accessories, including hair brushes, combs, clips, and hair ties. Goody is known for its affordable products and its focus on value for money. The company has a strong distribution network and a loyal customer base. Goody is expected to continue to be a major player in the Hair Accessories Market in the coming years.
Key Companies in the Hair Accessories Market Include
- Amorepacific Corporation
- Procter Gamble
- Shiseido
- Revlon
- Kao Corporation
- Goody Products
- L'Oréal
- Henkel
- Sally Beauty
- Conair
- Unilever
- Coty
- Kose Corporation
- Estée Lauder Companies
Hair Accessories Market Industry Developments
Recent news and current affairs in the Hair Accessories Market indicate continued growth and innovation. In 2023, the market was valued at approximately USD 17.88 billion and is projected to reach USD 28.2 billion by 2032, exhibiting a CAGR of 5.19% from 2024 to 2032.Key trends shaping the market include the rising popularity of hair accessories as fashion statements, increasing disposable income, and growing consumer awareness of hair health and care. The market is also witnessing the emergence of sustainable and eco-friendly hair accessories, driven by increasing environmental consciousness among consumers.Notable developments include the launch of innovative hair accessories such as smart headbands that track fitness data and hair dryers that minimize heat damage. Additionally, collaborations between hair accessory brands and fashion designers are driving new product launches and expanding market reach.
Hair Accessories Market Segmentation Insights
- Hair Accessories Market Product Type Outlook
- Hair Clips
- Headbands
- Hair Ties
- Scrunchies
- Barrettes
- Hairbands
- Hair Accessories Market Material Outlook
- Plastic
- Metal
- Fabric
- Wood
- Leather
- Silicone
- Hair Accessories Market Price Range Outlook
- Low-end ($0 - $10)
- Mid-range ($10 - $50)
- High-end ($50 and above)
- Hair Accessories Market Distribution Channel Outlook
- Offline Stores (Salons, Boutiques)
- Online Stores (E-commerce, Brand Websites)
- Supermarkets/Hypermarkets
- Department Stores
- Hair Accessories Market Usage Outlook
- Daily Use
- Special Occasions
- Professional Styling
| Report Attribute/Metric |
Details |
| Market Size 2022 |
16.99(USD Billion) |
| Market Size 2023 |
17.88(USD Billion) |
| Market Size 2032 |
28.2(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
5.19% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Amorepacific Corporation ,Procter Gamble ,Shiseido ,Revlon ,Kao Corporation ,Goody Products ,L'Oréal ,Henkel ,Sally Beauty ,Conair ,Unilever ,Coty ,Kose Corporation ,Estée Lauder Companies |
| Segments Covered |
Product Type ,Material ,Price Range ,Distribution Channel ,Usage ,Regional |
| Key Market Opportunities |
Growing demand for hair extensions Increasing popularity of hair accessories in men Rising trend of hair accessories for kids Emerging markets offering growth potential Technological advancements in hair accessories |
| Key Market Dynamics |
Increasing demand for hair styling Growing popularity of hair accessories among men Technological advancements in hair accessory design Rising disposable income and urbanization Influencer marketing and social media impact |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Hair Accessories Market was valued at USD 17.88 billion in 2023 and is expected to grow at a CAGR of 5.19% to reach USD 28.2 billion by 2032.
The Asia Pacific region is expected to dominate the Hair Accessories Market, accounting for a revenue share of 42.5% in 2023. The growing fashion consciousness and increasing disposable income in countries like China and India are key factors driving the market growth in this region.
Hair Accessories are used in various applications, including hair styling, hair care, and fashion accessories. They are used to enhance the appearance of hair, protect hair from damage, and create different hairstyles.
Some of the key players in the Hair Accessories Market include Goody Products, Inc., Conair Corporation, L'Oréal S.A., The Hut Group, and Sally Beauty Holdings, Inc.
Key trends influencing the Hair Accessories Market include the growing popularity of natural and organic hair care products, the rise of online retail, and the increasing demand for sustainable and eco-friendly products.
The Hair Accessories Market faces challenges such as intense competition, changing fashion trends, and the impact of counterfeit products.
The Hair Accessories Market has significant growth potential, driven by factors such as rising disposable income, increasing fashion consciousness, and the growing popularity of online shopping.
Key opportunities for growth in the Hair Accessories Market include expanding into emerging markets, developing innovative products, and leveraging online sales channels.
Key threats to growth in the Hair Accessories Market include economic downturns, changing consumer preferences, and the rise of counterfeit products.
Key strategies adopted by players in the Hair Accessories Market include product innovation, expansion into new markets, and strategic partnerships.
