According to the recent research report titled ‘Global Hair Accessories Market Size study, by Product (Clips & Pins, Head Bands, Wigs & Extensions and Others), by Distribution Channel (Supermarkets & Hypermarkets, General Stores and Online), and Regional Forecasts 2021-2027’, available with MarketStudyReport, global hair accessories market was valued at USD 26.54 billion in 2020 and is projected to record 15.2% CAGR over 2021-2027, subsequently amassing USD 71.46 billion valuation by end of assessment period.
 

Global hair accessories market growth is primarily driven by a surge in demand for hair accessories and grooming products as individuals become more concerned about looks and aesthetics. The increase in new product introductions is also adding to the industry progression, cites the study.
 

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Furthermore, growing influence of social media, rising number of fashion sites and blogs, booming working women population, hefty investments on advertisements by businesses, expanding global e-commerce coverage, and rising personal disposable income are likely to augment industry growth in the upcoming years.
 

Speaking of restraints, rising prevalence of counterfeit items is likely to stifle market growth between 2021 and 2027.
 

Based on product type, global hair accessories market is divided into wigs & extensions, head bands, clips & pins, and others. As per distribution channel, the industry segmentation comprises of online, general stores, and supermarkets & hypermarkets.
 

Elaborating on regional terrain, veteran analysts cite that North America is the world's leading region in terms of market share, due to rising number of promotional events for new products and increasing production of novel hair accessories.
 

On the other hand, Asia Pacific industry is projected to register a strong growth rate over 2021-2027, owing to increased demand for accessories from women, surging requirement for personal care goods, advantageous manufacturing conditions, and varying fashion trends in the region.
 

Coming to competitive landscape, E-Novita, Goriki Kogyo Co. Ltd., Hairlocs, Sta-Rite Ginnie Lou Inc., Hairline Illusions Inc., Diana Enterprise USA, Claire's Accessories, Goody Products Inc., and JD Beauty Group are the top companies operating in global hair accessories industry sphere.