Hair & Nail Accessories Market Research Report - Global Forecast till 2027

Global Hair and Nail Accessories Market Research Report: By Product Type (Hair Accessories, Nail Accessories) and By Distribution Channel (Store-Based, Non-Store-Based) - Forecast till 2027

ID: MRFR/CR/8959-HCR | March 2021 | Region: Global | 90 pages

Market Scenario


Global Hair & Nail Accessories Market size is projected to reach approximately USD 36.2 Billion by 2027, at a CAGR of 6.9% from 2020 to 2027. Hair & nail accessories enhance the appearance of an individual, which is majorly driving the market growth. With the growth of the fashion industry, a wide variety of innovative products are made available in the market to the customers. The increase in annual disposable income, especially in developing countries, and growing preferences for personal grooming among the middle-class population is expected to result in the exponential growth of the market during the forecast period. The growing working population and their increasing spending on fashion accessories is boosting the market growth. Also, manufacturers are highly inclined towards continuous innovation and improvement in product quality and designs.


Market Synopsis


Global Hair & Nail Accessories Market has witnessed high growth in recent years. Rapid urbanization and growing per capita disposable income of consumers are driving demand for appearance-enhancing products such as hair and nail accessories. Frequent product innovations and the booming organized retail sector are also expected to fuel the growth of the global hair & nail accessories market. Through social media and celebrity endorsement, innovative marketing campaigns prove to be an innovative marketing strategy uplifting market growth. Also, Gen Z and millennial populations constantly keep themselves updated on fashion trends through various beauty blogs, which help uplift the demand for hair & nail accessories. To cater to the trending consumer needs, market players are focusing on the launch of innovative products with claims such as eco-friendly and chemical-free. The key players in the beauty and cosmetics industry are also entering the hair & nail accessories market, looking at the large opportunities the market holds.


Market USP


Increasing spending on fashion accessories  


Market Drivers



  • Increasing number of working woman population

  • High influence of social media and brand endorsements: Social media advertising has been rapidly growing over the last five years. The majorly used social media platforms, such as Facebook and Instagram, have influenced the fashion industry to a great extent. Social media blogs and celebrity endorsements are one big factor that influences people to buy fashion accessories such as hair & nail accessories.

  • Launch of innovative products

  • Effective marketing strategies

  • Mounting growth of the organized retail sector


Market Restraints



  • Rising number of counterfeit products


Segmentation


By Product Type



  • Hair Accessories: This segment accounted for the larger market share in 2019. The hair accessories segment is further divided into elastics & ties, hair jewelry, headbands & turbans, barrettes & clips, and others. Hair jewelry is projected to grow at the highest rate during the forecast period. Hair accessories hold high importance among women for daily routine as well as functions.

  • Nail Accessories


By Distribution Channel



  • Store-Based: The majority of hair & nail accessories is sold through store-based retailers. This segment has been further divided into supermarkets & hypermarkets, specialty stores, and others. The specialty stores segment dominated the market in 2019.

  • Non-Store-Based


By Region



  • North America: North America accounted for a significant share of the global hair & nail accessories market in 2019 as a high number of consumers in the region are inclined towards fashion accessories. The US is the major market for hair & nail accessories in North America. The rapid growth of the fashion industry and innovations in hair & nail accessories, along with the large presence of key players, is driving the hair & nail accessories market in the US.

  • Europe

  • Asia-Pacific: Asia-Pacific dominated the global hair & nail accessories market in 2019 and is a lucrative market for hair & nail accessories manufacturers. The trend of fashion accessories in large population countries such as China, India, and Southeast Asian countries creates significant opportunities for the existing players. Increasing urbanization, rising disposable income, and increasing spending of consumers on fashion accessories are cumulatively driving the growth of the market in the region.

  • Rest of the World


Key Players



  • Lele Sadoughi (US)

  • Valet Studio (Australia)

  • MISA Los Angeles (US)

  • Conair Corporation (US)

  • DONNI (US)

  • Goody Products Inc. (US)

  • Claire's Inc. (US)

  • Jennifer Behr (US)

  • LELET NY (US)

  • Novità Hair Accessories (Greece)

  • Coty Inc. (US)

  • KISS Products Inc. (US)

  • Incoco Products (US)

  • Ciaté London (UK)

  • Gershion (China)



Report Scope:
Report Attribute/Metric Details
  Market Size   USD 36.2 Billion
  CAGR   6.9% (2020 to 2027)
  Base Year   2019
  Forecast Period   2020 to 2027
  Historical Data   2018
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Product Type and Distribution Channel
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Lele Sadoughi (US), Valet Studio (Australia), MISA Los Angeles (US), Conair Corporation (US), DONNI (US), Goody Products Inc. (US), Claire's Inc. (US), Jennifer Behr (US), LELET NY (US), Novità Hair Accessories (Greece), Coty Inc. (US), KISS Products Inc. (US), Incoco Products (US), Ciaté London (UK) and Gershion (China)
  Key Market Opportunities

  • Rapid urbanization and growing per capita disposable income of consumers are driving demand for appearance-enhancing products such as hair and nail accessories
  • Frequent product innovations and the booming organized retail sector are also expected to fuel the growth of the global hair & nail accessories market
  •   Key Market Drivers

  • Increasing number of working woman population
  • Launch of innovative products
  • Effective marketing strategies


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