Headwear Market - Forecast(2024 - 2030)

Report Code: CMR 1532 Report Format: PDF + Excel

Headwear Market Overview:

Headwear Market size is estimated to reach $46.1 billion by 2030, growing at a CAGR of 6.7% during the forecast period 2023-2030. Growing fashion consciousness, rising awareness about sun protection, and increasing customization options for headwear products are propelling the Headwear Market growth.

Additionally, the growth of e-commerce has made it easier for consumers to buy headwear online, driving the growth of the Headwear Market. Online retailers offer a wide range of headwear products at competitive prices, making it more convenient for consumers to shop for headwear. These factors positively influence the Headwear industry outlook during the forecast period.

Market Snapshot:
Headwear Market - Report Coverage:

The “Headwear Market Report - Forecast (2023-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Headwear Market.

Attribute

Segment

By Product Type

● Beanies

● Headbands

● Caps and Hats

● Helmets

● Others

By Application

● Casual

● Medical

● Tactical

● Others

By Distribution Channel

● Offline Retail Stores

● Online Retail Stores





By Geography

● North America (U.S., Canada and Mexico)

● Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe),

● Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand and Rest of Asia-Pacific),

● South America (Brazil, Argentina, Chile, Colombia and Rest of South America)

● Rest of the World (Middle East and Africa).


COVID-19 / Ukraine Crisis - Impact Analysis: 

  • The COVID-19 pandemic had a mixed impact on the Headwear Market. The closure of outdoor and sport-related activities resulted in a decline in the demand for headwear used in these activities. However, the pandemic led to changes in consumer behavior and lifestyle, which boosted the demand for other types of headwear. During the pandemic, the protective headwear market grew in importance as people become more aware of personal protective equipment (PPE) to prevent the spread of COVID-19.
  • The conflict between Russia and Ukraine has led to the disruption of supply chains in the area, affecting the production and delivery of headwear products. Moreover, companies that rely on suppliers from the region are expected to face delays or shortages in their inventory, hampering their ability to meet customer demand. The conflict is also likely to result in a change in demand for military-style headwear. If such headwear products are associated with the conflict, the market may see a decrease in demand for such products.

Key Takeaways:

  • Headwear Market in Europe to Exhibit Fastest Growth : Geographically, in the global Headwear market share, the European market is analyzed to grow with the highest CAGR of 7.3% during the forecast period 2023-2030. There are several factors that continue to fuel the market. As the climate in Europe becomes more extreme with more frequent and severe weather events, the demand for protective headwear products continues to soar. Headwear products such as beanies, hats or scarves are extremely useful during colder months. A March 2023 report by Reuters suggests that Europe needs to prepare for much colder winter, which involves high demand for warm clothes and headwear.

  • Beanies Segment to Grow the Fastest : In the Headwear Market analysis, the beanies segment is estimated to grow with the highest CAGR of 7.5% during the forecast period. Beanies are not just a stylish headwear option, but they are also significantly comfortable and practical. They can be worn in a variety of climates and can keep an individual's head warm in extreme cold. Since it can be made from a variety of materials (wool, fleece, cotton and more), some varieties of beanies can even be worn during summer days to protect one's head from the sun. The affordability of the product also adds to the growing demand for this headwear segment.

  • Offline Distribution Channel Held the Largest Share : According to the Headwear Market forecast, the offline segment held 61.1% share of the  headwear market in 2022, making it the largest distribution channel for the market. Since people are more likely to try on headwear before they buy, the offline channels made more sales than their online counterparts. Also, people are more likely to buy headwear as an accessory when they are buying other items. These factors contributed to the dominance of the offline distribution channels for headwear market in 2022.

  • Increasing Demand for Sports and Outdoor Activities : The increasing demand for sports and outdoor activities has significantly impacted the headwear market. As people become more health-conscious and fitness-oriented, there is a growing awareness of the importance of headwear in outdoor activities such as biking, running, hiking, skiing, and more. Headwear, including caps, headbands, and beanies, is no longer considered merely for protection but has transformed into a fashion statement, especially among millennials seeking the athleisure look. This shift in consumer behavior has led to a surge in demand for trendy and stylish headwear, prompting major companies to launch innovative designs to attract customers. Furthermore, the rapid urbanization of the global population has improved fashion sensibility, acting as a driving factor for the market's growth. As the sports and outdoor industry continues to thrive and evolve, the headwear market is poised for further growth, offering diverse opportunities for manufacturers and retailers to cater to the needs of active consumers 

  • Growing Fashion Consciousness : Headwear has become an important fashion accessory, and people are now wearing hats and caps to enhance their personal style. The trend of wearing hats for fashion purposes is gaining popularity among the youth, which is driving the growth of the headwear market. The Spring 2023 collections by major designers focused on headwear a lot more this time, suggesting a growing trend of using hats and other headwear options for fashion.

  • Changing Consumer Preferences to Hamper the Market Growth : Consumer preferences and fashion trends can change quickly, which can impact the demand for headwear products. Companies need to stay ahead of these trends and adjust their product offerings accordingly to meet changing consumer demands. This factor impedes the Headwear market growth.

 

Headwear Market Share (%) By Region, 2022

Key Market Players:

Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Headwear Market. The top 10 companies in this industry are listed below:

  1. New Era Cap Co., Inc. (47 Brand, EK)
  2. Nike, Inc. (Jordan, Hurley)
  3. Adidas AG (Reebok, Originals)
  4. Under Armour, Inc. (UA Golf, UA Hunt)
  5. Puma SE (Cobra Golf, Tretorn)
  6. Carhartt, Inc. (Carhartt Force, Carhartt Legacy)
  7. The North Face, Inc. (Apex Flex, Summit Series)
  8. Columbia Sportswear Co. (PFG, Trail Summit)
  9. Patagonia, Inc. (Provisions, Black Hole)
  10. The Burton Corporation (AK, Mine77)

Scope of Report:

Report Metric

Details

Base Year Considered

2022

Forecast Period

2023–2030

CAGR

6.7%

Market Size in 2030

$46.1 billion

Segments Covered

Product Type, Application, Distribution Channel and Region

Geographies Covered

  • North America (U.S., Canada and Mexico)

  • Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe)

  • Asia-Pacific (China, Japan, South Korea, India, Australia, New Zealand and Rest of Asia-Pacific

  • South America (Brazil, Argentina, Chile, Colombia and Rest of South America)

  • Rest of the World (Middle East and Africa).

Key Market Players

  1. New Era Cap Co., Inc.

  2. Nike, Inc.

  3. Adidas AG

  4. Under Armour, Inc.

  5. Puma SE

  6. Carhartt, Inc.

  7. The North Face, Inc.

  8. Columbia Sportswear Co.

  9. Patagonia, Inc.

  10. The Burton Corporation


For more Chemicals and Materials Market reports, Please click here
1. Headwear Market - Overview
    1.1. Definitions and Scope
2. Headwear Market - Executive Summary
3. Headwear Market - Comparative Analysis
    3.1. Company Benchmarking - Key Companies
    3.2. Global Financial Analysis - Key Companies
    3.3. Market Share Analysis - Key Companies
    3.4. Patent Analysis
    3.5. Pricing Analysis
4. Headwear Market - Start-up Companies Scenario 
    4.1. Key Start-up Company Analysis by
        4.1.1. Investment
        4.1.2. Revenue
        4.1.3. Venture Capital and Funding Scenario
5. Headwear Market – Market Entry Scenario Premium 
    5.1. Regulatory Framework Overview
    5.2. New Business and Ease of Doing Business Index
    5.3. Case Studies of Successful Ventures
6. Headwear Market - Forces
    6.1. Market Drivers
    6.2. Market Constraints
    6.3. Market Challenges
    6.4. Porter's Five Force Model
        6.4.1. Bargaining Power of Suppliers
        6.4.2. Bargaining Powers of Customers
        6.4.3. Threat of New Entrants
        6.4.4. Rivalry Among Existing Players
        6.4.5. Threat of Substitutes
7. Headwear Market – Strategic Analysis
    7.1. Value Chain Analysis
    7.2. Opportunities Analysis
    7.3. Market Life Cycle
8. Headwear Market – by Product Type (Market Size – $Million/$Billion) 
    8.1. Beanies
    8.2. Headbands
    8.3. Caps and Hats
    8.4. Helmets
    8.5. Others
9. Headwear Market – by Application (Market Size – $Million/$Billion) 
    9.1. Casual
    9.2. Medical
    9.3. Tactical
    9.4. Others
10. Headwear Market – by Distribution Channel (Market Size – $Million/$Billion)
    10.1. Offline Retail Stores
    10.2. Online Retail Stores
11. Headwear Market – by Geography (Market Size – $Million/$Billion) 
    11.1. North America
        11.1.1. The U.S.
        11.1.2. Canada
        11.1.3. Mexico
    11.2. Europe
        11.2.1. UK
        11.2.2. Germany
        11.2.3. France
        11.2.4. Italy
        11.2.5. Spain
        11.2.6. Russia
        11.2.7. Rest of Europe
    11.3. Asia-Pacific
        11.3.1. China
        11.3.2. India
        11.3.3. Japan
        11.3.4. South Korea
        11.3.5. Australia & New Zealand
        11.3.6. Rest of Asia-Pacific
    11.4. South America
        11.4.1. Brazil
        11.4.2. Argentina
        11.4.3. Chile
        11.4.4. Colombia
        11.4.5. Rest of South America
    11.5. Rest of the World
        11.5.1. Middle East
        11.5.2. Africa
12. Headwear Market – Entropy
13. Headwear Market – Industry/Segment Competition Landscape 
    13.1. Market Share Analysis
        13.1.1. Market Share by Product Type – Key Companies
        13.1.2. Market Share by Region – Key Companies
        13.1.3. Market Share by Country – Key Companies
    13.2. Competition Matrix
    13.3. Best Practices for Companies
14. Headwear Market – Key Company List by Country Premium 
15. Headwear Market - Company Analysis
    15.1. New Era Cap Co., Inc.
    15.2. Nike, Inc.
    15.3. Adidas AG
    15.4. Under Armour, Inc.
    15.5. Puma SE
    15.6. Carhartt, Inc.
    15.7. The North Face, Inc.
    15.8. Columbia Sportswear Co.
    15.9. Patagonia, Inc.
    15.10. The Burton Corporation
"Financials to the Private Companies would be provided on best-effort basis."
Connect with our experts to get customized reports that best suit your requirements. Our reports include global-level data, niche markets and competitive landscape.

The Headwear Market is projected to grow at 6.7% CAGR during the forecast period 2023-2030.

Global Headwear Market size is estimated to be $27.6 billion in 2023 and is projected to reach $46.1 billion by 2030

The leading players in the Headwear Market are New Era Cap Co., Inc., Nike, Inc., Adidas AG, Under Armour, Inc., Puma SE and others.

Growing demand for sustainable headwear products, need for personalized and unique headwear and rising popularity of athleisure and streetwear are some of the major Headwear Market trends in the industry which will create growth opportunities for the market during the forecast period.

Increasing demand for sports and outdoor activities, growing fashion consciousness and rising awareness about sun protection are the driving factors of the market.