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Headwear Market Size
Headwear Market size is expected to grow at notable pace from 2024 to 2032, owing to increasing usage in sports & related activities by athletes. With the growing fashion industry, there has been rapid adoption of headwear as a style statement in balanced garments to add a touch of safety and confidence.
Increasing usage by bike riders, army forces, and firefighters as safety & protective equipment is escalating the product demand. Manufacturers are coming up padded and embellished headbands, for increased comfort. Technologically advanced products, such as smart helmets, are also gaining popularity among consumers. The influx of several government regulations for road safety is also positively influencing the industry gains.
According to the National Highway Traffic Safety Administration estimates, there have been 55,166 motorcycle fatalities across the U.S over the last decade. The increasing adoption of headwear and helmets could reduce the number of fatalities caused by accidents in the forthcoming years. However, the adverse effects of the continuous use of helmets and headbands, dehydration, skin irritation, and hair diseases may hamper the industry progression to some extent.
Headwear Market Trends
The rise of sustainable and eco-friendly materials, such as recycled fabrics and organic cotton is reflecting the increasing consumer awareness about environmental concerns. The growing customization and personalization options are gaining popularity for allowing consumers to express their individual style through unique designs and embroidery. The collaborations between fashion brands and sports teams are further becoming common, promoting the introduction of exclusive and limited-edition collections that appeal to a diverse range of consumers. For instance, in May 2022, PUMA introduced Hometown Heroes, an exclusive and newly crafted hat collection showcasing three distinct cap styles.
Headwear Market Analysis
The beanie segment is projected to depict significant growth rate from 2024 to 2032. This is due to the high demand of beanies during colder months. The versatility of beanies, which can be styled in various ways for different occasions, is appealing to people seeking functional yet fashionable accessories. The adoption of sustainable materials and production methods in beanie manufacturing is also attracting environmentally conscious consumers,
The online distribution channel segment is anticipated to account for sizeable share of the headwear market by 2032, owing to the increasing popularity of e-commerce platforms and the convenience of online shopping. Consumers prefer wide variety of options online, along with the ease of comparison shopping and home delivery services. The rise of social media and influencer marketing is amplifying brand visibility and online presence, further boosting the product sales through the online platforms.
North America headwear industry size is projected to expand at robust pace through 2032. This can be attributed to the strong presence of sports and outdoor activities. The fashion-conscious consumer base and trends are favoring headwear as a style statement. The collaborations between fashion brands and sports leagues or teams are also increasing in the region. The intense low temperatures, such as in Canada, and the launch of exclusive collections by the leading industry players will increase the product appeal across the region.
Headwear Market Share
Some of the major headwear companies are:
- Adidas AG
- Nike Inc.
- New Era Cap
- Under Armor Inc.
- Pipolaki
- Superdry PLC
- New Balance Inc.
- Boardriders Inc.
Renowned headwear industry players are focusing on increasing their R&D investments to innovate attractive solutions to meet consumer needs. Companies are also focusing on business strategies like collaborations, and mergers and acquisitions to increase their product sales.
Headwear Industry News:
- In June 2023, AC Milan and New Era unveiled a new partnership to introduce an exclusive line of headwear commemorating the rich heritage of the Rossoneri.