Headwear Market Research Report—Global Forecast till 2032

Headwear Market Research Report Information By Product Type (Beanies, Headbands, Caps and Hats, and Other Product Types), By Distribution Channel (Offline Retail Stores and Online Retail Stores), and By Region (North America, Europe, Asia-Pacific, and Rest Of The World) – Market Forecast Till 2032

ID: MRFR/CR/10365-HCR | 128 Pages | Author: Aarti Dhapte | September 2023         

Global Headwear Market Overview

Headwear Market Size was valued at USD 26.9 Billion in 2022. The Headwear market industry is projected to grow from USD 28.7 Billion in 2023 to USD 48.6 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.80% during the forecast period (2023 - 2032). The expansion of the fashion business has increased the attraction of fashion among people all over the world and increased demand for winter clothing and accessories including hats, beanies, and other winter headgear items, are the key market drivers enhancing the market growth.

Headwear Market

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Headwear Market Trends

  • The growth of the fashion industry is driving the market growth

The expansion of the fashion sector, which has led to an increase in the appeal of fashion among the general public worldwide, is the main factor driving the growth of the headgear market. Additionally, the increasing popularity of winter clothing and accessories like hats, beanies, and winter headgear items in developed nations can be attributed in large part to the altering weather patterns brought on by global warming. Offering a selection of winter hats is something that top organisations in the sector are putting more of an emphasis on. In order to meet the specific needs of each customer, their new designs differ greatly in terms of colour, form, style, and size. The 'Infinite THERMAL Collection' will debut in October 2022, according to Southern California's Melin headgear firm. The assortment of headwear is intended to enhance the enjoyment of outdoor activities in chilly climates. The company collaborated with professional snowboarder and adventurer Louie Vito to produce the Infinite A-Game limited edition in the colours maroon, frost, navy, and olive.

Consumers are beginning to view headwear, including headbands and even beanies, as fashion rather than merely a practical requirement. The headgear market is expected to grow over the forecast period as a result of the paradigm shift in consumer purchasing behaviour. To pique consumer attention, major corporations are offering headbands in contemporary designs like cushioned and embroidered. Prada, a high-end shop, contributes to the market for hair accessories by offering a variety of designer headbands. Global fashion sensibility improved as a result of the population's increased urbanisation, which fueled the market's expansion. 55% of the world's population presently lives in urban areas, and this percentage is projected to rise to 68% by the year 2050, according to the World Cities Report 2022. The developing fashion industry, shifting lifestyles, and the rising need for convenience in the form of comfortability and accessibility are further factors influencing the headgear market's expansion. The younger demographic is mostly embracing the headgear category as a fashion statement.

Due to the growing desire of personalisation among young people, several major companies are developing new goods that offer customised headwear, particularly caps. Consumers are more influenced by the newest trends, which prompts them to match their headgear and clothing to stand out and show off their uniqueness. Dance companies, restaurants, and other service providers have all noticed the trend's ascent, which has further expanded the hat market's potential. Passionate bike riders also need helmets of higher quality. The cyclist should be protected from accidents by these helmets, and they should also be comfortable to use. These items' inclusion of smart technology contributes to the market's expansion. The smart helmet market has been invaded by Sena Momentum Inc Pro. The Sena Momentum Inc. Pro, which is their more expensive model, has a QHD camera, Bluetooth audio, group intercom, voice commands, and even music sharing. Thus, driving the Headwear market revenue.

Headwear Market Segment Insights

Headwear Product Type Insights

The Headwear Market segmentation, based on Product Type, includes beanies, headbands, caps and hats, and other product types. Caps and hats segment accounted for the largest revenue share in 2022. Everyone uses caps as a daily outdoor adornment since they are versatile and widely utilised. The cap market is still gaining a lot of traction among young people as businesses create caps with a variety of patterns for different occasions. Athletes frequently use baseball hats and sun visors because they view them as essential sports gear. As athletics became more popular, the sports cap market grew in importance, evolving from a basic piece of streetwear to a trendy must-have for all consumers.

Headwear Distribution Channel Insights

The Headwear Market segmentation, based on Distribution Channel, includes offline retail stores and online retail stores. Offline retail stores segment dominated the Headwear Market in 2022. This is due to the increased global spread of retail clothing and accessory stores in tier I, tier II, and tier III cities. A greater increase in offline channel sales in the worldwide market has been attributed to the growth of clothes retail outlets, both local and startup.

Figure 1: Headwear Market, by Distribution Channel, 2022 & 2032 (USD Billion)

Headwear Market, by Distribution Channel, 2022 & 2032

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Headwear Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The Asia Pacific Headwear market dominated this market in 2022 (45.80%). In the upcoming years, the Asia Pacific market is anticipated to grow significantly and steadily due to an increase in demand for a variety of winter hats in nations like China, India, and Japan as well as a sizable population. Furthermore, headgear products are frequently used and preferred to be worn as a fashion statement, especially among the Gen Z and millennial age, due to the variable weather in Southern Asian nations like Australia, New Zealand, and others. Moreover, China’s Headwear market held the largest market share, and the Indian Headwear market was the fastest growing market in the Asia-Pacific region.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.



Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

The North America Headwear Market accounted for the healthy market share in 2022. The rising demand has been significantly aided by the region's residents' rising purchases of sporting gear, especially headwear. For instance, the Sports Business Daily reports that the Minor League Baseball and its 160 clubs in the United States and Canada collectively sold items worth USD 73.9 million in July 2019. Additionally, local celebrations and events like Halloween, Comic-Con, the Disney Festival of Fantasy Parade, and others are driving up product consumption. Further, the U.S. Headwear market held the largest market share, and the Canada Headwear market was the fastest growing market in the North America region.

Europe Headwear market  is expected to register significant growth from 2023 to 2032. Favourable weather conditions for wearing winter clothing in nations like Norway, Finland, and Sweden, among others, are what's driving the demand for beanies, mufflers, and scarves. Additionally, the region has a cooler environment all year round, which has led to an increase in the need for winter clothing items there. To fulfil the rising demand for headgear items in the market as a whole, businesses are releasing innovative headwear products in new styles and of greater quality. Further, the German Headwear market held the largest market share, and the U.K Headwear market was the fastest growing market in the European region

Headwear Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Headwear market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Headwear industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Headwear industry to benefit clients and increase the market sector. In recent years, the Headwear industry has offered some of the most significant advantages to medicine. Major players in the Headwear market, including Adidas AG, Nike Inc., New Era Cap, Under Armour Inc., Pipolaki, Boardriders Inc., New Balance Inc., The Gap Inc., Callaway Golf Company, and Superdry PLC, are attempting to increase market demand by investing in research and development operations.

The athletic goods and equipment company Puma SE (Puma) creates, develops, and sells footwear, clothing, and accessories for men, women, and kids. The business sells goods under the PUMA, stichd, and Cobra Golf brands. Additionally, it grants licences to numerous independent businesses so they can manufacture and distribute accessories, watches, and eyeglasses. Through company-owned and authorised retail locations, authorised online marketplaces, and wholesale, the business sells products directly to customers. Additionally, Puma supports international national teams in a number of sports. It operates in the Americas, Asia-Pacific, and Europe, Middle East, and Africa (EMEA). Herzogenaurach, Bavaria, Germany, is home to the Puma corporate headquarters. A limited edition headwear collection with three designs and the Hometown Heroes emblem, a brand-new design based on PUMA's renowned classic hometown heroes, was introduced in May 2022 by the international sportswear business PUMA.

Sports gear and merchandise are distributed and sold by Lids. The business specialises in selling online and in mall-based retail outlets licenced big sports gear and memorabilia. Lids Inc., a well-known sports retailer, debuted its newest retail concept in December 2022 with the opening of "Lids Hat Drop" in Queens, New York. The idea is a physical version of Lids' popular LidsHatDrop.com website. While offering items like beanies, snapbacks, and baseball caps, among others, it seeks to engage customers. Additionally, headgear manufacturers promote their accessories in supermarkets and hypermarkets to draw in more customers and boost sales.

Key Companies in the Headwear market include

  • Adidas AG

  • Nike Inc.

  • New Era Cap

  • Under Armour Inc.

  • Pipolaki

  • Boardriders Inc.

  • New Balance Inc.

  • The Gap Inc.

  • Callaway Golf Company

  • Superdry PLC

Headwear Industry Developments

May 2022: Wear-A-Knit, a firm that specialises in personalised knitwear, was purchased by Cap America. With the acquisition, Cap America will have the chance to expand its top-40 supplier, USA-made knit department.

May 2022: Atlantis headgear and Caps Direct have announced a new licencing agreement that will introduce sustainable headgear to North America.

Headwear Market Segmentation

Headwear Product Type Outlook

  • Beanies

  • Headbands

  • Caps and Hats

  • Other Product Types

Headwear Distribution Channel Outlook

  • Offline Retail Stores

  • Online Retail Stores

Headwear Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

Report Scope:

Report Attribute/Metric Details
Market Size 2022 USD 26.9 Billion
Market Size 2023 USD 28.7 Billion
Market Size 2032 USD 48.6 Billion
Compound Annual Growth Rate (CAGR) 6.80% (2023-2032)
Base Year 2022
Market Forecast Period 2023-2032
Historical Data 2018- 2022
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Product Type, Distribution Channel, and Region
Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
Countries Covered The U.S., Canada, German, France, U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled Adidas AG, Nike Inc., New Era Cap, Under Armour Inc., Pipolaki, Boardriders Inc., New Balance Inc., The Gap Inc., Callaway Golf Company, and Superdry PLC
Key Market Opportunities Increasing production of smart hats
Key Market Dynamics The growth of the fashion industry which has resulted in the growing appeal of fashion among the global population and growing popularity of winter apparel and accessories like hats, beanies, and winter headwear products

Frequently Asked Questions (FAQ) :

The Headwear Market size was valued at USD 26.9 Billion in 2022.

The global market is projected to grow at a CAGR of 6.80% during the forecast period, 2023-2032.

Asia Pacific had the largest share in the global market

The key players in the market are Adidas AG, Nike Inc., New Era Cap, Under Armour Inc., Pipolaki, Boardriders Inc., New Balance Inc., The Gap Inc., Callaway Golf Company, and Superdry PLC

The Caps and Hats Product Type dominated the market in 2022.

The Offline Retail Stores Distribution Channel had the largest share in the global market.

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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