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..
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Forecast
period
|
2023-2027
|
Base Year
|
2022
|
Historic
Data
|
2017 - 2021
|
Segment
Covered
|
Distribution Channel
(Offline and Online), Product Type (Caps and hats, Beanies, and
Others), and Geography (APAC, North America, Europe, South America,
and Middle East and Africa)
|
Region
Covered
|
APAC, North America,
Europe, South America, and Middle East and Africa
|
Key companies
profiled
|
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.
|
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.
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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.
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Segment Overview
This headwear market report extensively covers market
segmentation by
- Distribution Channel
- Product Type
- 2.1 Caps and hats
- 2.2 Beanies
- 2.3 Others
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 South America
- 3.5 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
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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 Channel
-
- Product Type
-
- Caps And Hats
- Beanies
- Others
- Geography
-
- APAC
- North America
- Europe
- South America
- Middle 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: media@technavio.com
Website: www.technavio.com/
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