Authored By: Sarah
14 Nov 2023

Billion-dollar Headwear Market Analysis | USD 7.84 Bn revenue growth  forecasted through 2023-2027|Forecast and Trend Analysis

The headgear market is projected to expand at a compound annual growth rate (CAGR) of 6.57% from 2022 to 2027. It is anticipated that the market will grow by USD 7,847.52 million. The desire to better one's personal style and growing fashion consciousness are two major elements driving industry growth. Other considerations include the development of distribution networks and more effective marketing tactics by major competitors. 

Technavio has been monitoring the headwear market the growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking along with detailed profiling of the major market players.

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Snapshot of the Headwear Market

Emerging Trends to Impact Market Growth of the Headwear Market: One of the main trends in the headgear market is athleisure and headwear with sports inspiration. The worldwide headgear market is witnessing a significant trend with the growing popularity of athleisure and sport-inspired clothes. This trend is being driven by an increase in customer demand for headwear that combines performance attributes with fashion. Customers want headgear that not only complements their active and sporting lifestyles but also offers useful features. This includes wearing materials that wick away sweat to keep the head comfortable and dry while exercising.

Leading companies such as  Adidas AG, Akubra Hats Pty Ltd., Capri Holdings Ltd., Christy and Co. Ltd., Columbia Sportswear Co., FLEXFIT LLC, Giorgio Armani S.p.A., LLC, Kering SA, Lock and Co. Hatters, Maus Freres SA, New Era Cap LLC, Nike Inc., PUMA SE, PVH Corp., Ralph Lauren Corp., Sports Direct International plc, SUPERDRY PLC, Under Armour Inc., and VF Corp. are some of the major market participants and comes with wide array of offerings

Technavio has been monitoring the growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking with profiling of the major market players. Find out more about the market dynamics, trends, and factors that are most likely to affect the market under consideration in our report's extensive study.

The report provides insights into the following FAQs:

  1. What is the market CAGR?
    The market is accelerating at a CAGR of 6.57%.

  2. What is the incremental growth of the market?
    The market is expected to grow by USD 7.84 bn through 2023-2027.

  3. What is a key factor driving this market?
    Increasing fashion consciousness and desire to enhance personal style will drive market growth over the forecast period.

  4. What are the key regions covered in this market research report?
    APAC, North America, Europe, South America, and Middle East, and Africa are the key regions featured in this research report.

  5. Which is the leading geographic region for this market:
    38% growth will originate from APAC
  6. What are the market segments covered in this report?
    The market is segmented by Distribution Channel (Offline and Online), Product Type (Caps and hats, Beanies, and Others), and Geography (APAC, North America, Europe, South America, and Middle East and Africa)
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