Hair accessories can be a lucrative business, with the global market set to reach 25.9 billion dollars by 2027 according to Research and Markets.
Hair pins, clips, ribbons, nets, pearl headbands, extensions are ties are just some of the products rising in a market that is seeing 9.6 percent growth.
Factors like an increasing preference for fashionable or trendy products serving utility purposes along with trying out new hair styles are estimated to propel the growth of the hair accessories market over the forecast period.
Based on distribution channels, the hair accessories market is fragmented into hypermarkets and supermarkets, general stores, and online. Among all, the general stores segment garnered the highest revenue share in 2020 and is estimated to continue this trend over the forecast period, according to Research and Markets. This growth is attributed to the increasing inclination of consumers towards buying hair accessories from general stores. These general stores consist of small-to-large neighbourhood stores.
Region-wise, the hair accessories market is analysed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific emerged as the prominent region in the hair accessories market with the maximum revenue share in 2020. It is due to the growing population of working women across emerging nations like China and India.