Headwear Market Trends

Global Headwear Market Overview

Headwear Market Size was valued at USD 18,037.13 million in 2021. The Headwear market industry is projected to grow from USD 18,720.91 million in 2022 to USD 30,909.98 million by 2032, exhibiting a compound annual growth rate (CAGR) of 5.14% during the forecast period (2022 - 2032). The demand for Headwear is driven by several factors, including the desire for exclusivity, superior quality, and craftsmanship. These bags are often associated with high-end fashion brands and exclusive boutiques, which further fuels their appeal and status.

 Figure 1: Headwear Market (USD Million)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Headwear Market Trends

• Surging Craze for Athleisure

Headwear, primarily caps, are readily counted as sports essentials among athletes, giving rise to trends such as athleisure. Sports players, including cricket, baseball, polo, and tennis, are progressively opting for headwear to boost field performance, gain extra comfort, and promote physical health. The boom in sportswear boosted the prominence of the sports cap segment, as it shifted from streetwear staple to stylish must-haves among general consumers. The segment also penetrated the menswear industry worldwide. This trend is resulting in heavy demand for headwear, aiding in the growth of the market studied. Due to the rising demand for headwear products in the overall market, companies are launching new headwear products that are of higher quality and in modern designs to fulfil the increasing demand. For instance, in July 2022, MycoWorks partnered with LA-based milliner Nick Fouquet to develop a line of hats made from its Reishi alt-leather product in conjunction with a US start-up that develops alternative biomaterials based on mycelium. Sports apparel sales recorded exponential growth in recent years, thus boosting the overall sports cap market.

The surging craze for athleisure has led to an increase in demand for headwear that is both comfortable and stylish. Brands have responded by creating a wide range of hats that are made from breathable, moisture-wicking materials and are designed to be worn during physical activity. Some of the most popular types of athleisure headwear include baseball caps, beanies, and headbands. These hats are available in a variety of colours and styles, from classic black or white to bold, bright hues and eye-catching patterns. As the athleisure trend continues to grow in popularity, it is likely that the demand for headwear will continue to increase as well. Brands that can offer innovative, functional designs that cater to this market will see the most success in the years to come.

Headwear Market Segment Insights

Headwear Type Insights

Based on Type, the Headwear Market segmentation Beanies, Headbands, Caps and Hats, Satchels, Hobo Bags, Tote Bags, Briefcases, and Others. The caps and hats segment held the majority share in 2021 contributing to around a market value of USD 9,338.60 million of Headwear Market revenue. The hat market has developed a strong existence for many years as people are progressively attracted by the product’s ability to safeguard their hair and skin from dust, dirt, and harmful sunlight. The product offering a decent appeal with multiple styles and designs helps to entice more people. The increasing production of smart hats, which monitors heart rate and calories, is acting as an opportunity for market growth. For instance, LifeBeam Smart Hats comes with a sensor that could monitor the heart rate, calories and has a battery life of 17 hours. Caps and hats are popular fashion accessories that are worn by people of all ages and genders. They serve both functional and aesthetic purposes, such as protecting the wearer from the sun or cold weather, as well as adding a stylish touch to an outfit.  The demand for caps and hats varies depending on factors such as fashion trends, seasonal changes, and cultural preferences. For example, during the summer months, there is typically an increased demand for sun hats and baseball caps, while during the winter months, there may be a higher demand for beanies and other warm hats.

May 2022: PUMA, the global sportswear company, launched a limited-edition headwear collection in three styles featuring the logo of Hometown Heroes, a brand-new design based on PUMA's legendary classic hometown heroes.

May 2022: Cap America acquired Minnesota-based custom knitwear company Wear-A-Knit. The acquisition gives Cap America the opportunity to further develop its USA-made knit department, which is one of the top 40 suppliers.

Figure 2: Headwear Market, By Type, 2022 & 2032 (USD Million)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Headwear Application Insights

Based on source, the Headwear Market segmentation includes Casual, Medical, Tactical, and Others. The Casual segment held the majority share in 2021 contributing to more than 50% of the Headwear Market revenue. The casual headwear market refers to the segment of the fashion industry that focuses on hats and caps designed for everyday wear, as opposed to specialized headwear such as sports hats or formal hats for special occasions. This market includes a wide range of styles, materials, and designs, including baseball caps, beanies, bucket hats, fedoras, and more. The casual headwear market is driven by changing fashion trends, as well as practical considerations such as protection from the sun or freezing weather. The market is highly competitive, with many brands and retailers offering a range of options to suit different tastes and needs. In recent years, the casual headwear market has seen a rise in demand for sustainable and ethically produced products, as consumers become more conscious of the environmental and social impact of their purchases. This has led to the emergence of latest brands and initiatives focused on using eco-friendly materials and production methods. The consumers have shifted from the norm that considered caps as apparel wear on just fields to have it included as a fashion statement off the field.

Headwear End User Insights

Based on end user, the Headwear Market segmentation includes Men, Women, and Kids. The men segment held the majority share in 2021 contributing to around ~45% share of the Headwear Market revenue. The men's headwear market refers to the segment of the retail industry that specializes in the sale of headwear products designed specifically for men. These products typically include hats, caps, beanies, and other head coverings that are designed to be both functional and fashionable. The men's headwear market is a diverse and growing segment of the fashion industry, with a wide range of styles and materials available to suit different tastes and preferences. Some of the most popular styles include baseball caps, snapback hats, bucket hats, and fedoras, among others. Materials commonly used in men's headwear include cotton, wool, leather, and various synthetic fabrics. The men's headwear market is driven by a variety of factors, including changing fashion trends, the popularity of outdoor activities, and the need for functional headwear for sports and other physical activities.

May 2022: A new licensing partnership was announced between Atlantis Headwear and Caps Direct, bringing the concept of sustainable headwear to North America.

Headwear Distribution Channel Insights

Based on distribution channel, the Headwear Market segmentation includes Supermarkets & Hypermarkets, Convenience Stores, Specialty Stores, and Online. The convenience stores segment held the majority share in 2021 contributing to around ~40-45% of the Headwear Market revenue. The convenience store headwear market demand refers to the segment of the headwear market that is sold through convenience stores. Convenience stores typically offer a range of headwear items such as hats, caps, beanies, visors, and more. These headwear items are often purchased by consumers who are looking for a quick and convenient solution to their immediate headwear needs. Convenience stores are a popular destination for consumers who are looking for affordable and accessible headwear options. In particular, convenience store headwear sales are often driven by factors such as seasonal changes, fashion trends, and practical considerations such as sun protection and warmth.

August 2019: Augusta Sportswear Brands declared the acquisition of a privately held company based in Coburg, Oregon. called Pacific Headwear.

Headwear Regional Insights

By Region, the study segments the market into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America Headwear market has held the largest market share among the region in the Headwear Market. North America is estimated to display a dominant share and is expected to continue throughout the forecast period. The increasing purchase of sports merchandise, including hats by people in this region, has made a significant contribution to the growing demand. For instance, according to the Sports Business Daily, July 2019, is declaring that the Minor League Baseball and its 160 clubs in the United States and Canada together have sold USD 73.9 million worth of merchandise. Furthermore, regional festivals and events such as Halloween, Comic-Con, Disney Festival of Fantasy Parade, and others are escalating the consumption of the product. The growth of the market can be attributed to various factors such as increasing fashion consciousness among consumers, growing popularity of sports and outdoor activities, and rising demand for customized headwear.

The major countries studied are the US, Canada, Mexico, Belarus, Russia, Azerbaijan, Moldova, Armenia, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, Brazil, Colombia, and GCC Countries.

Figure 3: HEADWEAR MARKET SHARE BY REGION, 2022 & 2032 (USD Million)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

The North American region includes major countries such as the US, Canada, and Mexico. The increasing purchase of sports merchandise, including hats by people in this region, has made a significant contribution to the growing demand. For instance, according to the Sports Business Daily, July 2019, is declaring that the Minor League Baseball and its 160 clubs in the United States and Canada together have sold USD 73.9 million worth of merchandise. Furthermore, regional festivals and events such as Halloween, Comic-Con, Disney Festival of Fantasy Parade, and others are escalating the consumption of the product. The growth of the headwear market can be attributed to various factors such as increasing fashion consciousness among consumers, growing popularity of sports and outdoor activities, and rising demand for customized headwear. Additionally, the emergence of online sales channels and the availability of a wide range of designs and materials are expected to further drive the growth of the North America headwear market.

The headwear market in Europe is expected to lead the regional segmental share in the coming years. The demand for beanies, mufflers, and scarves is driven by favorable environmental conditions for winterwear in countries including Norway, Finland, and Sweden. Also, the region experiences a colder climate throughout the year and due to this reason, there is a growing demand for winterwear products throughout the region. Companies are introducing innovative headwear products of higher quality and new designs to meet the growing demand for headwear products in the overall market. An increase in disposable income, a growing youth population, and rapidly increasing demand for comfortable, innovative, and affordable headwear across the region are driving the growth of the market in the region. Rapidly spreading awareness about health, fitness, and sporting events in the region is also fueling the growth of the market. As consumers are highly motivated toward buying quality and comfortable headwear products, they are willing to purchase high-priced headwear made from selected high-quality raw materials and manufactured using machines to provide accurate and precise products. Additionally, the adoption of the luxury lifestyle among consumers has influenced the purchasing power to opt for luxury wear among millennials. The increasing fashion trends and the evolving retail landscape across brands have been the key factor for the booming headwear market. Working to the highest standards, these companies are also developing and producing modern style headwear for every occasion and providing superior clothing comfort and premium quality products to German consumers.

Headwear Key Market Players & Competitive Insights

The headwear market is highly competitive due to the presence of several private players manufacturing counterfeit products of major brands to boost their sales. Therefore, the major companies are adopting innovative production strategies to set themselves apart from the crowd. For example, major companies are using new materials and partnering with celebrities to establish themselves in the headwear market. They are also offering sponsorships for various sports and events, leading to an increase in the sales of headwear products. Some of the key players in the headwear market include Adidas AG, Nike Inc., New Era Cap, Under Armour Inc., Pipolaki, Superdry PLC, New Balance Inc., and Boardriders Inc. Although the international players dominate the market, regional and foreign players with small market shares also have a presence. The international players may strengthen their presence worldwide through acquisitions during the forecast period.

One of the key business strategies deployed by the Headwear industry to gain a competitive advantage among the competitors is increasing product launch. Also, expansion with new startups and small-scale manufacturers augment the production capacity to meet the increasing demand for various Headwear types in the market.

Adidas AG is a multinational corporation headquartered in Herzogenaurach, Germany. The company designs, develops, produces, and markets a range of athletic and lifestyle footwear, apparel, and accessories. The company's product offerings are divided into three main segments: Adidas, Reebok, and TaylorMade-adidas Golf. The Adidas segment focuses on sportswear, including footwear, apparel, and accessories for a variety of sports such as football, basketball, running, and training. The Reebok segment produces footwear, apparel, and accessories for fitness, running, and training. The TaylorMade-adidas Golf segment offers golf clubs, balls, bags, apparel, and accessories. Adidas operates in over 160 countries worldwide. The company's mission is to be the best sports company in the world, with brands built on a passion for sports and a sporting lifestyle. Adidas has a strong commitment to sustainability and aims to use sustainable materials in all of its products. In recent years, Adidas has been working to strengthen its digital capabilities and e-commerce channels, as well as expanding its partnerships with high-profile athletes and celebrities to increase brand awareness and drive sales. The company has also been investing in new technologies and innovations, such as 3D printing and digital manufacturing, to improve its products and processes.

Nike Inc. is a global leader in the design, development, marketing, and sale of athletic footwear, apparel, equipment, accessories, and services. The company's product line includes running, training, basketball, soccer, and lifestyle footwear, as well as sports-inspired fashion and performance apparel for men, women, and children. Nike also owns several brands, including Converse, which offers lifestyle footwear and apparel, and Hurley, which provides surf and youth lifestyle apparel. The company distributes its products through a wide range of channels, including Nike-owned retail stores, e-commerce platforms, and wholesale customers.

Key Companies in the Headwear market include.

• Adidas AG


• Nike Inc.


• The Gap Inc.


• Topgolf Callaway Brands Corp.


• Under Armour, Inc.


• New Era Cap


• PIPLOAKI


• New Balance Inc.


• Superdry plc.


• Boardriders Inc.


• Original Buff S.A.


• Barts


• Seirus Innovative Accessories Inc.


• Patagonia Inc. (U.S.)

Headwear Industry Developments

June 2019: Meek Mill announced its partnership with Lids Ownership Group, for the introduction of its exclusive release of new hat line.

January 2022: Ava Greys Designs launched new European scrub hat prints. The honeybee is one of the many new hats that are launched. All hats have elastic in the back to provide a custom fit.

October 2021: ANTI-DO-TO, the streetwear activist brand, announced a collaboration with Flapper, a headwear brand founded by Genevieve Xhaet, for the creation of a capsule of transformable and genderless headgear. They launched a capsule of three headdresses all total black and all wearable in at least two different ways. The launched products include Robin, a baseball cap with cape-scarf; Andrea, the reversible fisherman's bucket; Ellis, the ring band in eco-cash five, wearable both as a neck warmer and as a balaclava.

December 2022: Lids Inc., a leading sports retailer unveiled its newest retail concept, with the opening of ‘Lids Hat Drop’ in Queens, New York. The concept is the brick & mortar iteration of Lids' successful LidsHatDrop.com platform. It aims to engage customers while selling baseball caps, snapbacks, and beanies, among other products.

September 2020: Aimé Leon Dore launched Yankees Hats produced by New Era with a few new colors. This launch was made alongside the premium apparel pieces launched by the company in Italy.

Headwear Market Segmentation

Headwear Type Outlook

• Beanies


• Headbands


• Caps and Hats


• Others

Headwear Application Outlook

• Casual


• Medical


• Tactical


• Others

Headwear End User Outlook

• Men


• Women


• Kids

Headwear Distribution Channel Outlook

• Supermarkets & Hypermarkets


• Convenience Stores


• Specialty Stores


• Online

Headwear Regional Outlook

• 
  North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• 
  Europe
  
  
  
  • Belarus
  
  
  • Russia
  
  
  • Azerbaijan
  
  
  • Moldova
  
  
  • Ukraine
  
  
  • Rest of Europe
  
  
  
  


• 
  Asia-Pacific
  
  
  
  • Armenia
  
  
  • Kazakhstan
  
  
  • Kyrgyzstan
  
  
  • Tajikistan
  
  
  • Uzbekistan
  
  
  • Turkmenistan
  
  
  • Rest of Asia-Pacific
  
  
  
  


• 
  Latin America
  
  
  
  • Mexico
  
  
  • Brazil
  
  
  • Colombia
  
  
  • Rest of Latin America
  
  
  
  


• 
  Middle East & Africa
  
  
  
  • GCC
  
  
  • South Africa
  
  
  • Rest of Middle East & Africa