Headwear market size to grow by USD 7.84 billion from 2022 to 2027, Increasing fashion consciousness and desire to enhance personal style to drive market growth, Technavio

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Feb 28, 2024, 10:45 ET

NEW YORK, Feb. 28, 2024 /PRNewswire/ -- The headwear market is expected to grow by USD 7.84 billion from 2022 to 2027, according to Technavio. As per the latest report, the market will progress at a CAGR of 6.57% during the forecast period. Athleisure and sports-inspired headwear is an emerging market trend in the headwear market. The increasing fashion consciousness and desire to enhance personal style drive the headwear market. The global market growth can be attributed to the consumer demand for modern and fashionable headwear. Since people become more fashion-conscious, they look for headwear accessories that go with their individual tastes and enable them to express their sense of style. They usually look for headwear that not only complements their clothing but also serves as an extension of it. Hence, such factors drive the growth of the headwear market during the forecast period. Hence, such factors drive the growth of the market during the forecast period. View a Sample Report within minutes!

Technavio has announced its latest market research report titled Global Headwear Market 2023-2027

Headwear Market is segmented as below:

Distribution Channel

Offline
Online

Product type

Caps and hats
Beanies
Others

Geography

APAC
North America
Europe
South America
Middle East And Africa

The market share growth by the offline segment will be significant during the forecast period. In this segment of the market, departmental stores are also a significant contributor to the headwear market in the global market. The growth from this segment has been declining in the past few years due to the rising preference for online shopping. But to improve their sales via the online route, traders are setting up new outlets locally and regionally. Hence, such factors fuel the growth of the offline segment of the headwear market during the forecast period. Download a sample report!

Market Dynamics

Athleisure and sport-inspired clothing is a very important trend in the global headwear market and has become increasingly popular. Along with enhancing their active and sports lifestyles, customers are looking for headwear that provides practical benefits, which include utilizing materials that drain away moisture to keep the head dry and at ease while engaging in physical activity.

The greater availability of counterfeit products challenges the growth of the headwear market. Counterfeiting of popular sports teams' uniforms, such as hats and caps is frequently the target. As unauthorized copies are flooding the global market in clothing, textiles, or luxury goods, it misleads customers and hurts a legitimate brand's reputation. Hence, challenges such as the presence of counterfeit products are expected to be a significant hinder the market in focus during the forecast period.

Company Analysis

We provide a detailed analysis of around 25 vendors operating in the Headwear Market, including some of the vendors such as 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. Backed with competitive intelligence and benchmarking, our research reports on the Headwear Market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support. Download a sample report!

Company Offerings

Adidas AG - The company offers headwear such as bucket hats, beanies, and baseball caps.
Capri Holdings Ltd. - The company offers headwear under the subsidiary Versace.
Columbia Sportswear Co. - The company offers headwear such as Bora Bora Booney, PFG Fish Flag, and Schooner Bank.

Analyst Review

The headwear market is a dynamic landscape influenced by various factors such as innovations in fabric, consumers' buying behavior, and market trends. From beanies to caps and bucket hats, headwear serves not only as a practical accessory but also as a fashion statement and style statement. In April 2022, the industry witnessed a surge in demand as consumers prepared for the Autumn season, driving manufacturers and companies to unveil their latest collections.

Among the notable players is Sunflake icon, a brand renowned for its commitment to sustainable fashion and innovations in fabric. Based in Los Angeles, the company has captured the essence of contemporary headwear trends. In February 2023, they introduced a groundbreaking line of athleisure accessories, catering to the Rise of Athleisure. Collaborating with August Studio, they launched a collection tailored for Muslim women, featuring sports hijabs and BreetheModest Activewear.

This collaboration underscores the intersection of sports essentials and fashion, reflecting evolving consumer preferences and market trends. Zaheeda Duduzile Chaukean, the founder of BreetheModest Activewear, emphasized the importance of R&D expenditure to stay ahead in the competitive landscape.

As athletes increasingly integrate headwear into their performance gear, the market continues to evolve, driven by consumers' buying behavior and innovations in fabric. With a focus on sustainability and functionality, the headwear market remains a vibrant sector poised for further growth. Download a sample report!

Related Reports:
The footwear market in APAC size is expected to increase by USD 55.92 Billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 8.36%.

The sports apparel market size is estimated to grow at a CAGR of 6.82% between 2022 and 2027. The market size is forecast to increase by USD 75.6 billion.

Table Of Contents :

1 Executive Summary
2 Landscape
3 Sizing
4 Historic Size
5 Five Forces Analysis
6 Segmentations
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix

About US

Technavio is a leading global technology research and advisory company. Their research and analysis focus 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.

Contact

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

SOURCE Technavio