Market Overview

The headwear market is projected to register a CAGR of 6.45%, during the forecast period (2021-2025).

• Headwear, primarily caps, are readily counted as sports essentials among athletes, giving rise to trends, such as athleisure. Players of sports, like cricket, baseball, and polo, are progressively opting for headwear to boost their field performance, gain extra comfort, and promote physical health.
• Headwear, such as headbands and even beanies, are now greatly perceived as fashionwear among consumers, leading them to buy them more as a style statement than just a mere necessity. This paradigm shift observed in the buying behavior of consumers is anticipated to foster the headwear market during the forecast period.
• However, the presence of counterfeit products is one of the key challenges faced by the brands, globally, which is expected to hinder the sale of authentic products during the forecast period.

Scope of the Report

The headwear market is segmented by product type into beanies, headbands, and caps and hats. Based on the distribution channel, the market is segmented into offline retail stores and online retail stores. The market is also segmented by geography.

Key Market Trends
Customized Headwear is in Fashion

With the growing personalization trend amongst millennials and the young generation, numerous small and local players have rolled out innovative products offering customized headwear, especially caps. Consumers, individually or in groups, are increasingly customizing their headwear, along with their apparel, to stand out and develop their eccentricity. The growing trend is witnessed mostly among dance groups, food service firms, and other service providers, further developing a great scope for the headwear market, worldwide.