Press release
Hair Accessories Market Dynamics and Growth Drivers 2024
"The Business Research Company recently released a comprehensive report on the Global Hair Accessories Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=7266&type=smp
According to The Business Research Company's, The hair accessories market size has grown rapidly in recent years. It will grow from $25.15 billion in 2023 to $28.62 billion in 2024 at a compound annual growth rate (CAGR) of 13.8%. The growth in the historic period can be attributed to popularity of elaborate hairstyles, cultural and societal significance of hair adornment, influence of fashion trends on hair accessory styles, increased disposable income and spending on personal grooming, traditional rituals and ceremonies involving the use of hair accessories.
The hair accessories market size is expected to see rapid growth in the next few years. It will grow to $47.06 billion in 2028 at a compound annual growth rate (CAGR) of 13.2%. The growth in the forecast period can be attributed to adoption of sustainable and eco-friendly materials, growing demand for customizable and personalized hair accessories, expansion of e-commerce and online sales channels, influencer marketing and social media shaping hair accessory trends, rise in genz population. Major trends in the forecast period include integration of technology in smart hair accessories, resurgence of vintage and retro-inspired hair accessory styles, incorporation of innovative designs and materials, emphasis on multi-functional and versatile hair accessories, collaborations between fashion brands and hair accessory designers.
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Market Drivers and Trends:
Increasing consumers' focus on looks and aesthetics is expected to propel the growth of the hair accessories market going forward. Hair has a crucial function in enhancing one's image, as healthy, lustrous, and well-groomed hair enhance a person's appearance. People take care of their hair, try various haircuts, and accessorize in order to appear desirable, which increases the demand for hair care products. For instance, November 2021 according to survey done by Betterhalf.ai, a matrimony website and app in India, found that highest number of people, 43% consider 'looks' as the most important factor in a matrimonial profile. Therefore, the increasing consumer's focus on looks and aesthetics is driving the demand for the hair accessories market.
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Hairline Illusions LLC, Henry Margu Inc., Goody Products Inc., Diana Enterprise Inc., Conair Corporation, J & D Beauty Products Inc., Hennes & Mauritz AB, Forever 21 Inc., Fromm Holding AG, Annie International Inc., Silke London Ltd., Hair Drama Company, Bunzee Bands, Riot Accessories Ltd., SwirlyCurly LLC, SOQ Jewelry, Creative Findings, Good Hair Days, Jennifer Behr LLC, Lele Sadoughi LLC, PuffCuff LLC, Dongguan Yuanshan Webbing & Accessories Co. Ltd., Sta-Rite Ginnie Lou Inc., Novita Hair accessories, Evita Peroni International A/S, Claires Holdings LLC, Wigsroyal Hair Products, Vivica A. Fox Hair Collection, Remington Arms Company LLC, Bumble and Bumble LLC, Drybar LLC, Aveda Corporation, John Paul Mitchell Systems, Kenra Professional LLC, Henkel Corporation, Schwarzkopf Professional
Hair Accessories Market 2024 Key Insights:
• The hair accessories market size is expected to see rapid growth in the next few years. It will grow to $47.06 billion in 2028 at a compound annual growth rate (CAGR) of 13.2%.
• Elevated Focus On Aesthetics Boosts Hair Accessories Market
• New Product Innovations Drive Hair Accessories Market Growth
• North America was the largest region in the hair accessories market in 2023
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"
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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