The hair accessories market has been experiencing significant growth, driven by evolving fashion trends and increasing consumer interest in personal grooming. Here's an overview of recent developments, market dynamics, segment analysis, and key market players:

The hair accessories market was valued at USD 19.1 billion in 2021 and is expected to expand at a CAGR of 7.8% over the forecast period from 2022 to 2030. The rising demand for accessories to enhance the physical appearance among consumers is driving market growth. Wigs and extensions are among other trending hair accessories, especially among people of African descent in the U.S. and Europe, as well as native Africans.

Recent Developments

• In December 2024, Tangle Teezer, renowned for its innovative hair detangling brushes, was acquired by French company Bic for €200 million. This acquisition underscores the growing value and potential within the hair accessories sector.

• The "pink Pilates princess" trend, which emerged on TikTok in 2023, emphasizes self-care and wellness. This movement has influenced consumer preferences, leading to increased demand for premium hair accessories that align with this aesthetic.

Market Dynamics

• Growth Drivers: The market is propelled by a growing young population that is increasingly fashion-conscious. Rising disposable incomes and urbanization have led to higher consumer spending on personal grooming products, including hair accessories.

• Restraints: The proliferation of counterfeit and inauthentic products poses challenges to genuine brands, potentially affecting consumer trust and market growth.

Segment Analysis

• By Product Type: Elastics and ties dominate the market, accounting for approximately 32.6% of the product segment in 2024. Their versatility and widespread consumer appeal contribute to their leading position.

• By Distribution Channel: General stores hold a significant share, representing 48.3% of the distribution channel segment in 2024. Their accessibility and convenience make them a preferred choice for consumers purchasing hair accessories.

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Key Market Players

Prominent companies in the hair accessories market include:

• Goody Products Inc.: Offers a wide range of hair styling tools and accessories.

• Claire’s: Specializes in fashion accessories and jewelry, including hair products.

• Conair Corporation: Provides various personal care products, including hair accessories.

• H&M: Offers fashion-forward hair accessories as part of its apparel and accessories line.

• Forever 21: Features trendy hair accessories targeting younger consumers.

• Tangle Teezer: Known for its innovative detangling hairbrushes, recently acquired by Bic.

These companies play a pivotal role in shaping market trends and meeting diverse consumer needs in the hair accessories industry.