Headwear Market

Headwear Market Size By Product Type (Beanies, Headbands, Caps and Hats, and Others), By Distribution Channel (Offline and Online), Regions, Global Industry Analysis, Share, Growth, and Trends. Forecast 2023 to 2032

Base Year: 2022 Historical Data: 2019-21
  • Report ID: TBI-13386
  • Published Date: Mar, 2023
  • Pages: 236
  • Category: Consumer Goods
  • Format: PDF
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The global headwear market is expected to reach USD 54.8 billion by 2032, at a CAGR of 7% during the forecast period 2023 to 2032. Europe is expected to grow the fastest during the forecast period.

Market Overview:

Headwear is a piece of clothing or protective equipment that covers the head. Some common types of headwear include headbands, hats, beanies, caps, and helmets. Wool, polyester fleece, cotton, fur, nylon, silk, and Kevlar are among the materials used to make them. Outdoor sports such as biking, fishing, running, hiking, skiing, motorcycling, hunting, and snowboarding make extensive use of headwear. It protects the face and head from sunburn, lowers the incidence of skin cancer, aids in body temperature regulation, and prevents severe head traumas. In chilly weather, headwear also provides comfort and warmth. One of the primary reasons driving market expansion is the increasing product consumption in sports and related activities. Caps, helmets, and beanies are commonly worn in baseball, polo, cricket, skiing, and snowboarding to improve field performance, increase comfort, and provide safety. Furthermore, the growing fashion sector and widespread product adoption as a style statement that balances the ensemble adds a glamorous touch and increases confidence, boosting market growth significantly. Additional factors expected to fuel market expansion include greater adoption of sustainable production processes, easier product availability across e-commerce platforms, and increased product consumption by doctors and medical personnel.

Headwear Market Size

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Recent Development
  • In May 2022: PUMA, the worldwide sportswear corporation, released a limited edition hat collection in three styles with the Hometown Heroes emblem, a brand-new design based on PUMA's renowned classic hometown heroes.
  • In May 2022: Cap America acquired Wear-A-Knit, a personalized knitwear company based in Minnesota. Cap America will be able to expand its USA-made knit department, one of the top 40 suppliers, due to the acquisition.

Market Dynamics:

Drivers

Expansion of the Fashion Sector- The expansion of the headwear market is primarily driven by the development of the fashion sector, which has resulted in a growing attraction of fashion among the global population. Furthermore, altering weather patterns caused by global warming have contributed significantly to the increased demand for winter wear and accessories such as beanies, hats, and winter headwear products. Prominent companies in the sector emphasize the availability of a wide range of winter hats.

Restraints:

Lack of Raw Materials- More raw materials and skilled workers need to be needed, and the distribution network is also disrupted. Furthermore, the emergence of COVID-19 triggered a global financial crisis, which further affected consumer preferences and resulted in a drop in sales of these items. As a result, the market suffered a decline in sales due to these reasons.

Opportunities:

Rise in Demand Among Women- Most women nowadays wear headscarves, headbands, and caps to enhance their appearance and protect themselves from heat, dust, and cold. Women wear hat items to protect their skin from sun damage and cold weather, which can cause premature ageing marks on the neck and face.

Challenges:

Counterfeit Items- The availability of counterfeit items is a significant international issue that companies face, and it is predicted to impede the sale of genuine products during the forecast period.

Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Asia Pacific emerged as the largest global headwear market, with a 40% market revenue share in 2022.

Asia Pacific dominates the headwear market with a 40% market revenue share in 2022. Manufacturers in the Asia-Pacific area anticipate substantial market expansion due to rising demand for hair accessories to enhance their appearance. Furthermore, the hot summer months in India, China, and Australia increased demand for headwear, particularly hats. As a result, prominent brands are releasing stylish headbands and headwear, such as cushioned and embroidered, to increase consumer interest.

Europe is expected to witness the fastest growth during the forecast period. Good environmental conditions for winterwear in nations such as Norway, Finland, and Sweden are driving the demand for beanies, mufflers, and scarves. Also, the region has a cooler environment all year, so there is an increasing demand for winterwear products. Companies are offering novel headwear products of higher quality and new styles to fulfil the increased need for headwear items in the overall market.

Asia Pacific Region Headwear Market Share in 2022 - 40%

 

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Product Type Analysis:

The product type segment is divided into beanies, headbands, caps and hats, and others. The caps and hats segment dominated the market, with a market share of around 39.3% in 2022. Hats are multipurpose and are worn as an everyday outdoor adornment by everyone. As companies create hats with various designs for various occasions, the caps segment continues to gain popularity among young people. Baseball caps and sun visors are popular among athletes who regard them as necessary for sports.

Distribution Channel Analysis:

The distribution channel segment is divided into offline and online. The offline segment dominated the market, with a market share of around 60.7% in 2022, because of the increased expansion of apparel and accessory retail shops in tier I, II, and III cities worldwide. The development of clothes retail outlets, both local and startup, has contributed to the worldwide market's expansion of offline channel sales. Lids Inc., a renowned sports retailer, presented its newest store concept, 'Lids Hat Drop,' in Queens, New York, in December 2022. Headwear manufacturers advertise their accessories in hypermarkets and supermarkets to improve client stickiness and sales.

List of Key Market Players:
  • Adidas AG
  • Calvin Klein
  • RALPH LAUREN MEDIA LLC
  • Gianni Versace S.r.l.
  • PUMA SE
  • New Era Cap
  • Guccio Gucci S.p.A.
  • Nike, Inc.
  • LACOSTE
  • Superdry PLC

Report Description: 

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2022 USD 27.9 billion
Market size value in 2032 USD 54.8 billion
CAGR (2023 to 2032) 7%
Historical data 2019-2021
Base Year 2022
Forecast 2023-2032
Regional Segments North America, Asia Pacific, Europe, Latin America, Middle East and Africa
Segments Product Type, Distribution Channel

Frequesntly Asked Questions

As per The Brainy Insights, the size of the headwear market was valued at USD 27.9 billion in 2022 to USD 54.8 billion by 2032.

The global headwear market is growing at a CAGR of 7% during the forecast period 2023-2032.

Asia Pacific emerged as the largest headwear market.

Key players in the headwear market are Adidas AG, Calvin Klein, RALPH LAUREN MEDIA LLC, Gianni Versace S.r.l., PUMA SE, New Era Cap, Guccio Gucci S.p.A., Nike, Inc., LACOSTE, and Superdry PLC.

1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis by Product Type
          4.3.2. Market Attractiveness Analysis by Distribution Channel
          4.3.3. Market Attractiveness Analysis by Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Expansion of Fashion Sector
    5.3. Restraints
          5.3.1. Lack of Raw Materials
    5.4. Opportunities
          5.4.1. Rise in Demand Among Women
    5.5. Challenges
          5.5.1. Counterfeit Items

6. Global Headwear Market Analysis and Forecast, By Product Type
    6.1. Segment Overview
    6.2. Beanies
    6.3. Headbands
    6.4. Caps and Hats
    6.5. Others

7. Global Headwear Market Analysis and Forecast, By Distribution Channel
    7.1. Segment Overview
    7.2. Offline
    7.3. Online

8. Global Headwear Market Analysis and Forecast, By Regional Analysis
    8.1. Segment Overview
    8.2. North America
          8.2.1. U.S.
          8.2.2. Canada
          8.2.3. Mexico
    8.3. Europe
          8.3.1. Germany
          8.3.2. France
          8.3.3. U.K.
          8.3.4. Italy
          8.3.5. Spain
    8.4. Asia-Pacific
          8.4.1. Japan
          8.4.2. China
          8.4.3. India
    8.5. South America
          8.5.1. Brazil
    8.6. Middle East and Africa
          8.6.1. UAE
          8.6.2. South Africa

9. Global Headwear Market-Competitive Landscape
    9.1. Overview
    9.2. Market Share of Key Players in Global Headwear Market
          9.2.1. Global Company Market Share
          9.2.2. North America Company Market Share
          9.2.3. Europe Company Market Share
          9.2.4. APAC Company Market Share
    9.3. Competitive Situations and Trends
          9.3.1. Product Launches and Developments
          9.3.2. Partnerships, Collaborations, and Agreements
          9.3.3. Mergers & Acquisitions
          9.3.4. Expansions

10. Company Profiles
    10.1. Adidas AG
          10.1.1. Business Overview
          10.1.2. Company Snapshot
          10.1.3. Company Market Share Analysis
          10.1.4. Company Product Portfolio
          10.1.5. Recent Developments
          10.1.6. SWOT Analysis
    10.2. Calvin Klein
          10.2.1. Business Overview
          10.2.2. Company Snapshot
          10.2.3. Company Market Share Analysis
          10.2.4. Company Product Portfolio
          10.2.5. Recent Developments
          10.2.6. SWOT Analysis
    10.3. RALPH LAUREN MEDIA LLC
          10.3.1. Business Overview
          10.3.2. Company Snapshot
          10.3.3. Company Market Share Analysis
          10.3.4. Company Product Portfolio
          10.3.5. Recent Developments
          10.3.6. SWOT Analysis
    10.4. Gianni Versace S.r.l.
          10.4.1. Business Overview
          10.4.2. Company Snapshot
          10.4.3. Company Market Share Analysis
          10.4.4. Company Product Portfolio
          10.4.5. Recent Developments
          10.4.6. SWOT Analysis
    10.5. PUMA SE
          10.5.1. Business Overview
          10.5.2. Company Snapshot
          10.5.3. Company Market Share Analysis
          10.5.4. Company Product Portfolio
          10.5.5. Recent Developments
          10.5.6. SWOT Analysis
    10.6. New Era Cap
          10.6.1. Business Overview
          10.6.2. Company Snapshot
          10.6.3. Company Market Share Analysis
          10.6.4. Company Product Portfolio
          10.6.5. Recent Developments
          10.6.6. SWOT Analysis
    10.7. Guccio Gucci S.p.A.
          10.7.1. Business Overview
          10.7.2. Company Snapshot
          10.7.3. Company Market Share Analysis
          10.7.4. Company Product Portfolio
          10.7.5. Recent Developments
          10.7.6. SWOT Analysis
    10.8. Nike, Inc.
          10.8.1. Business Overview
          10.8.2. Company Snapshot
          10.8.3. Company Market Share Analysis
          10.8.4. Company Product Portfolio
          10.8.5. Recent Developments
          10.8.6. SWOT Analysis
    10.9. LACOSTE
          10.9.1. Business Overview
          10.9.2. Company Snapshot
          10.9.3. Company Market Share Analysis
          10.9.4. Company Product Portfolio
          10.9.5. Recent Developments
          10.9.6. SWOT Analysis
    10.10. Superdry PLC
          10.10.1. Business Overview
          10.10.2. Company Snapshot
          10.10.3. Company Market Share Analysis
          10.10.4. Company Product Portfolio
          10.10.5. Recent Developments
          10.10.6. SWOT Analysis
 

List of Table

1. Global Headwear Market, By Product Type, 2019-2032 (USD Billion)

2. Global Beanies, Headwear Market, By Region, 2019-2032 (USD Billion) 

3. Global Headbands, Headwear Market, By Region, 2019-2032 (USD Billion) 

4. Global Caps and Hats, Headwear Market, By Region, 2019-2032 (USD Billion)  

5. Global Others, Headwear Market, By Region, 2019-2032 (USD Billion)  

6. Global Headwear Market, By Distribution Channel, 2019-2032 (USD Billion)

7. Global Offline, Headwear Market, By Region, 2019-2032 (USD Billion)

8. Global Online, Headwear Market, By Region, 2019-2032 (USD Billion)

9. North America Headwear Market, By Product Type, 2019-2032 (USD Billion)

10. North America Headwear Market, By Distribution Channel, 2019-2032 (USD Billion)

11. U.S. Headwear Market, By Product Type, 2019-2032 (USD Billion)

12. U.S. Headwear Market, By Distribution Channel, 2019-2032 (USD Billion)

13. Canada Headwear Market, By Product Type, 2019-2032 (USD Billion)

14. Canada Headwear Market, By Distribution Channel, 2019-2032 (USD Billion)

15. Mexico Headwear Market, By Product Type, 2019-2032 (USD Billion)

16. Mexico Headwear Market, By Distribution Channel, 2019-2032 (USD Billion)

17. Europe Headwear Market, By Product Type, 2019-2032 (USD Billion)

18. Europe Headwear Market, By Distribution Channel, 2019-2032 (USD Billion)

19. Germany Headwear Market, By Product Type, 2019-2032 (USD Billion)

20. Germany Headwear Market, By Distribution Channel, 2019-2032 (USD Billion)

21. France Headwear Market, By Product Type, 2019-2032 (USD Billion)

22. France Headwear Market, By Distribution Channel, 2019-2032 (USD Billion)

23. U.K. Headwear Market, By Product Type, 2019-2032 (USD Billion)

24. U.K. Headwear Market, By Distribution Channel, 2019-2032 (USD Billion)

25. Italy Headwear Market, By Product Type, 2019-2032 (USD Billion)

26. Italy Headwear Market, By Distribution Channel, 2019-2032 (USD Billion)

27. Spain Headwear Market, By Product Type, 2019-2032 (USD Billion)

28. Spain Headwear Market, By Distribution Channel, 2019-2032 (USD Billion)

29. Asia Pacific Headwear Market, By Product Type, 2019-2032 (USD Billion)

30. Asia Pacific Headwear Market, By Distribution Channel, 2019-2032 (USD Billion)

31. Japan Headwear Market, By Product Type, 2019-2032 (USD Billion)

32. Japan Headwear Market, By Distribution Channel, 2019-2032 (USD Billion)

33. China Headwear Market, By Product Type, 2019-2032 (USD Billion)

34. China Headwear Market, By Distribution Channel, 2019-2032 (USD Billion)

35. India Headwear Market, By Product Type, 2019-2032 (USD Billion)

36. India Headwear Market, By Distribution Channel, 2019-2032 (USD Billion)

37. South America Headwear Market, By Product Type, 2019-2032 (USD Billion)

38. South America Headwear Market, By Distribution Channel, 2019-2032 (USD Billion)

39. Brazil Headwear Market, By Product Type, 2019-2032 (USD Billion)

40. Brazil Headwear Market, By Distribution Channel, 2019-2032 (USD Billion)

41. Middle East and Africa Headwear Market, By Product Type, 2019-2032 (USD Billion)

42. Middle East and Africa Headwear Market, By Distribution Channel, 2019-2032 (USD Billion)

43. UAE Headwear Market, By Product Type, 2019-2032 (USD Billion)

44. UAE Headwear Market, By Distribution Channel, 2019-2032 (USD Billion)

45. South Africa Headwear Market, By Product Type, 2019-2032 (USD Billion)

46. South Africa Headwear Market, By Distribution Channel, 2019-2032 (USD Billion)

List of Figures 

1. Global Headwear Market Segmentation

2. Global Headwear Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Headwear Market Attractiveness Analysis by Product Type

9. Global Headwear Market Attractiveness Analysis by Distribution Channel

10. Global Headwear Market Attractiveness Analysis by Region

11. Global Headwear Market: Dynamics

12. Global Headwear Market Share by Product Type (2023 & 2032)

13. Global Headwear Market Share by Distribution Channel (2023 & 2032)

14. Global Headwear Market Share by Regions (2023 & 2032)

15. Global Headwear Market Share by Company (2022)

This study forecasts global, regional, and country revenue from 2019 to 2032. The Brainy Insights has segmented the global headwear market based on the below-mentioned segments:

Global Headwear Market By Product Type:

  • Beanies
  • Headbands
  • Caps and Hats
  • Others

Global Headwear Market By Distribution Channel:

  • Offline
  • Online

Global Headwear Market By Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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