Headwear Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The Global Headwear Market Research Report Covers Industry Size and Statistics and is segmented by product type (beanies, headbands, caps and hats, and other product types), distribution channel (offline retail stores and online retail stores), and geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). The report offers market size and values in (USD) for the above segments.

Headwear Market Size

Headwear Market Summary
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Study Period 2018 - 2028
Base Year For Estimation 2022
CAGR 6.47 %
Fastest Growing Market North America
Largest Market Asia Pacific
Market Concentration Low

Major Players

Headwear Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Headwear Market Analysis

The headwear market size is estimated at USD 26.56 billion in 2023. It is projected to reach USD 36.34 billion by 2028, registering a CAGR of 6.47% during the forecast period (2023-2028).

  • Headwear, such as headbands and beanies, is perceived as a fashion accessory and a style statement for many individuals. This paradigm shift observed in consumers' buying behavior is anticipated to foster the headwear market during the forecast period.
  • Additionally, continuous innovations in fabric and consumer trends toward sustainable fashion encourage manufacturers to launch innovative products. Some innovative launches include fabric from seaweed, biodegradable materials, acquiring apple leathers, and developing products like soft and comfortable headwear. Companies are increasingly launching headbands in trendy styles, such as padded and embellished, to attract greater consumer interest.
  • For instance, in April 2022, the Headwear brand Autumn launched a headwear collection, including caps, beanies, and bucket hats. As per the company, the collection features the new Sunflake icon, designed by August Studio of Los Angeles in collaboration with them.
  • Moreover, with consumers increasingly focusing on physical fitness, the active lifestyle accessories segment is likely to have a greater demand over the coming years. Besides this, the exclusive headwear range is gaining immense traction worldwide. For instance, Muslim consumers involved in sports need to be covered up using headwear due to their religious reasons.
  • Therefore, in February 2023, Zaheeda Duduzile Chaukean, an entrepreneur, started her own South African brand called 'BreetheModest Activewear.' BreetheModest Activewear targets Muslim women who prefer extra-coverage clothing and headwear, including sports hijabs. Thus, brands continually roll out new lines of athleisure accessories, thus driving the market.

Headwear Market Trends

The Rise of Athleisure

  • Headwear, primarily caps, are readily counted as sports essentials among athletes, giving rise to trends such as athleisure. Sports enthusiasts progressively opt for headwear to boost field performance, gain extra comfort, and promote physical health. The boom in sportswear increased the prominence of the sports cap segment, as it shifted from streetwear staple to stylish must-haves among young adults.
  • Hence, there is a growing R&D expenditure by the headwear industry players that is allowing the production of more customized and innovative options for consumers. Moreover, companies are launching products of higher quality and unique designs to fulfill the increasing demand. For instance, in June 2022, a D2C brand, ARAKA, collaborated with New Era in Japan to launch water-repellent, waterproof, and moisture-permeable headwear.
Headwear Market: Share of People Who Took Part in Team Sports, in %, United States, 2019-2022

North America is the Fastest Growing Market

  • Manufacturers are anticipating rapid market growth in the North American region due to the growing demand for hair adornments, with retailers seeking to increase their average spend with an easy add-on sale. This trend leads retailers to launch fashion-oriented headbands and beanies to cater to the customers' demands. The intense winter season, like in Canada, has further boosted the demand for headwear, mainly woolen caps. Thus, the major companies are launching headbands and hats with trendy styles, such as padded and embellished, to draw greater consumer interest.
  • Furthermore, sustainability is one of the critical factors trending in the United States. Many consumers are concerned about sustainable fashion. As a result, major companies are working on modifying their business models and developing products made with more sustainable materials. 
  • For example, Adidas turned plastic trash that washed up in coastal areas into recycled polyester and used the material in headwear products. Further, in July 2022, MycoWorks partnered with LA-based milliner Nick Fouquet to develop a line of hats made from its Reishi alt-leather product with a US start-up that develops alternative biomaterials based on mycelium.
Headwear Market: Market Size (%), by Geography, Global, 2022

Headwear Industry Overview

The global headwear market is highly competitive due to the presence of numerous players, including Adidas AG, Nike Inc., New Era Cap, Under Armour Inc., and Pipolaki. Major companies are adopting innovative production strategies to differentiate their products and brand image. They 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.

Headwear Market Leaders

  1. Adidas AG

  2. Nike Inc.

  3. Pipolaki

  4. Under Armour Inc.

  5. New Era Caps Co.

*Disclaimer: Major Players sorted in no particular order

Headwear Market Concentration

Headwear Market News

  • June 2023: AC Milan and the renowned international lifestyle brand New Era unveiled an exclusive headwear collection. This debut collection boasts an array of New Era styles, offered in AC Milan's iconic red and black colors, as well as a curated selection of seasonal colorways aimed at catering to lifestyle enthusiasts.
  • May 2022: PUMA, the global sportswear giant, introduced a limited edition headwear collection comprising three distinct styles, all adorned with the logo of Hometown Heroes. PUMA's legendary classic hometown heroes inspire this unique design.
  • May 2022: Cap America completed the acquisition of Wear-A-Knit, a Minnesota-based custom knitwear company. This strategic move empowers Cap America to further expand its USA-made knit department, solidifying its position as one of the top 40 suppliers in the industry.

Headwear Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

      1. 4.1.1 The Rise of Athleisure

      2. 4.1.2 Influence of Social Media

    2. 4.2 Market Restraints

      1. 4.2.1 Presence of Counterfeit Products

    3. 4.3 Industry Attractiveness - 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 Product Type

      1. 5.1.1 Beanies

      2. 5.1.2 Headbands

      3. 5.1.3 Caps and Hats

      4. 5.1.4 Other Product Types

    2. 5.2 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 Adopted Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 Adidas AG

      2. 6.3.2 Nike Inc.

      3. 6.3.3 New Era Cap Co.

      4. 6.3.4 Under Armour Inc.

      5. 6.3.5 Pipolaki

      6. 6.3.6 Boardriders Inc.

      7. 6.3.7 New Balance Inc.

      8. 6.3.8 The Gap Inc.

      9. 6.3.9 Callaway Golf Company

      10. 6.3.10 Superdry PLC

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

**Subject to Availability

Headwear Industry Segmentation

Headwear is any element of clothing that is worn on one's head. The global headwear market is segmented by product type, distribution channel, and geography. 

The market is segmented by product type into beanies, headbands, caps and hats, and other product types. By distribution channel, the market is segmented into offline and online retail stores. The market is segmented by geography into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa.

 The market sizing and forecasts have been done for each segment based on value (in USD).

Product Type
Beanies
Headbands
Caps and Hats
Other Product Types
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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Headwear Market Research FAQs

The Headwear Market is studied from 2018 - 2028.

The Headwear Market is growing at a CAGR of 6.47% over the next 5 years.

North America is growing at the highest CAGR over 2018 - 2028.

Asia Pacific holds highest share in 2022.

Adidas AG, Nike Inc., Pipolaki, Under Armour Inc., New Era Caps Co. are the major companies operating in Headwear Market.

Headwear Industry Report

Statistics for the 2023 Headwear market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Headwear analysis includes a market forecast outlook to for 2023 to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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