Headwear Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Headwear Market is Segmented by Product Type (Beanies, Headbands, Caps and Hats), Distribution Channel (Offline Retail Stores, Online Retail Stores), and Geography.

Market Snapshot

Headwear Market
Study Period: 2016 - 2026
Base Year: 2020
Largest Market: Asia Pacific
CAGR: 6.45 %

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Market Overview

The headwear market is projected to register a CAGR of 6.45%, during the forecast period (2020-2025).

  • Headwear, primarily caps, are readily counted as sports essentials among athletes, giving rise to trends, such as athleisure. Players of sports, like cricket, baseball, and polo, are progressively opting for headwear to boost their field performance, gain extra comfort, and promote physical health.
  • Headwear, such as headbands and even beanies, are now greatly perceived as fashionwear among consumers, leading them to buy them more as a style statement than just a mere necessity. This paradigm shift observed in the buying behavior of consumers is anticipated to foster the headwear market during the forecast period.
  • However, the presence of counterfeit products is one of the key challenges faced by the brands, globally, which is expected to hinder the sale of authentic products during the forecast period.

Scope of the Report

The headwear market is segmented by product type into beanies, headbands, and caps and hats. Based on the distribution channel, the market is segmented into offline retail stores and online retail stores. The market is also segmented by geography.

By Product Type
Beanies
Headbands
Caps and Hats
By Distribution Channel
Offline Retail Stores
Online Retail Stores
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
France
Spain
Italy
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
South Africa
Saudi Arabia
Rest of Middle-East and Africa

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Key Market Trends

Customized Headwear is in Fashion

With the growing personalization trend amongst millennials and the young generation, numerous small and local players have rolled out innovative products offering customized headwear, especially caps. Consumers, individually or in groups, are increasingly customizing their headwear, along with their apparel, to stand out and develop their eccentricity. The growing trend is witnessed mostly among dance groups, food service firms, and other service providers, further developing a great scope for the headwear market, worldwide.

Headwear Market1

Asia Pacific is the Dominant Market

The boom in sportswear has led the sports cap in achieving a new prominence, moving from streetwear staple to stylish must-haves among general consumers, further permeating the menswear industry, worldwide. Specifically, in the Asia Pacific region, acknowledging the growing demand for hair adornments, manufacturers are anticipating the market to be a quick win for retailers seeking to drive up average spend with an easy add-on sale. This, in turn, is leading retailers to launch fashion-oriented headbands and beanies to cater to the market. Thus, the major companies are increasingly launching headbands with trendy styles, such as padded and embellished, to draw greater consumer interest.

Headwear Market2

Competitive Landscape

The headwear market is highly fragmented, due to the presence of innumerable private players who are manufacturing counterfeit copies of the branded products to pump up their sales. Therefore, the major players of the market are indulging in the production of unique products that can set them apart from the crowd. For example, the use of new materials and partnerships with celebrities have led big companies to establish themselves in the headwear market. Moreover, offering sponsorships for various sports and events has also led to an increase in the sales of headwear products.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product Type

      1. 5.1.1 Beanies

      2. 5.1.2 Headbands

      3. 5.1.3 Caps and Hats

    2. 5.2 By Distribution Channel

      1. 5.2.1 Offline Retail Stores

      2. 5.2.2 Online Retail Stores

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Spain

        5. 5.3.2.5 Italy

        6. 5.3.2.6 Russia

        7. 5.3.2.7 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 South Africa

        2. 5.3.5.2 Saudi Arabia

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Adidas AG

      2. 6.4.2 Nike Inc.

      3. 6.4.3 New Era Cap

      4. 6.4.4 Under Armour Inc.

      5. 6.4.5 Pipolaki

      6. 6.4.6 SuperGroup PLC

      7. 6.4.7 Boardriders Inc.

      8. 6.4.8 New Balance Inc.

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The undefined market is studied from 2016 - 2026.

The undefined is growing at a CAGR of 6.45% over the next 5 years.

Asia Pacific holds highest share in 2020.

Adidas AG, New Era Cap, Nike Inc., Under Armour Inc., Pipolaki are the major companies operating in undefined.

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