Global Headwear Market is valued at approximately USD 24879.20 million in 2021 and is anticipated to grow with a healthy growth rate of more than 6.5% over the forecast period 2022-2029. The expansion of the fashion sector, which has led to an increase in the appeal of fashion among the general public worldwide, is the main factor driving the growth of the headwear market. However, the increasing popularity of winter clothing and accessories like beanies, hats, and winter headwear items in developed nations can be attributed in large part to the altering weather patterns brought on by global warming. Along with this, rising e-commerce industry is also driving the sales of headwear market over the forecast period. Moreover, rising initiatives by the key market players is creating lucrative growth opportunity for the Global Headwear Market over the forecast period 2022-2029.
With almost a third of Facebook users anticipating to make purchases through the service in 2022, social commerce sales are predicted to triple by 2025, according to Statista. Along with this, H&M, Burberry, and Forever 21 are mainstream fashion labels that are leading the way for social e-commerce by using Instagram to market their goods and raise awareness of ethical and sustainable manufacturing. Thus, the market is been driven by the extensive use of e-commerce. In addition, start-ups are taking initiatives to build brand on e-commerce sites. For instance, Shabna and Shaiba Salam, sisters from Pune, India, started the fashion and leisure e-commerce platform Maneraa in 2019. The startup wants to draw attention to unbranded, small-known fashion and leisure stores. However, the changing fashion style stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Headwear Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America, is the leading region over the forecast period due to presence of leading companies in the region such as Adidas, Puma, etc, and the companies are taking initiatives which are driving the growth of Global Headwear Market in North American region. The Asia Pacific market is anticipated to grow significantly and steadily due to an increase in demand for a variety of winter hats in nations such as China, India, and Japan as well as a sizable population. Furthermore, headgear products are frequently used and preferred to be worn as a fashion statement, especially among the Gen Z and millennials, due to the variable weather in Southern Asian nations like Australia, New Zealand, and others.
Major market players included in this report are:
Gianni Versace S.r.l.
Guccio Gucci S.p.A.
New Era Cap
RALPH LAUREN MEDIA LLC
Recent Developments in the Market:
Ø In 2022, three different cap styles are part of the newly designed, limited edition “Hometown Heroes” hat collection from PUMA SE. In conjunction with Mike Camargo, the creator of Upscale Vandal, the first limited edition headgear collection will include caps, beanies, and bucket hats.
Ø The modern hat company Autumn Headwear, with headquarters in the US, has announced the release of its spring collection, “Spring/Summer 2022,” at select retailers and online. The Los Angeles-based August Studio created the headwear line, which consists of caps, beanies, and bucket hats.
Global Headwear Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Type, Distribution Channel, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Hats & Caps
By Distribution Channel:
Rest of the World