Wilmington, Delaware, United States, Sept. 04, 2023 (GLOBE NEWSWIRE) — The global market for hair scrunchies was estimated to have acquired US$ 2.2 billion in 2022. It is anticipated to advance with a 5.9% CAGR from 2023 to 2031 and by 2031, the market is likely to gain US$ 4.3 billion.
People who want to shield their hair from harm caused by standard hair ties frequently opt for hair scrunchies. Scrunchies are kind to the hair and aid in preventing breaking and tangling, compared to other ties. The market growth is being driven by an increasing female population, particularly in the business sector and fashion industry.
Women adopt the most recent fashion trends to improve their appearance. Women who are employed are more inclined to invest in high-quality personal care items like hair scrunchies. Hair scrunchies are fashionable, portable, and easy to pack for trips. Their demand is anticipated to rise during the next years.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 2.2 Bn | |
| Estimated Value | US$ 4.3 Bn | |
| Growth Rate – CAGR | 5.9% | |
| Forecast Period | 2023-2031 | |
| No. of Pages | 150 Pages | |
| Market Segmentation | By Category, Material, Size, Price, Distribution channel | |
| Regions Covered | North America,Europe,Asia Pacific,Middle East & Africa,South America | |
| Companies Covered | Burberry Group Plc., Donni, Claire’s Accessories, Dannijo, Halo Luxe, Jennifer Behr LLC, Lele Sadoughi, Lelet NY, Lululemon Athletica, Urban Outfitters | |
Key Findings of Market Report
- Players operating in the global market are finding attractive prospects thanks to the technology’s quick development, which has led to the widespread use of social networks and the internet.
- Influencers and bloggers use social networking platforms like Facebook and Instagram to promote beauty goods.
- Scrunchie purchases are now simpler thanks to e-commerce.
- Customers may select hair scrunchies from a selection of goods offered in offline shops and online retailers.
- The soft materials used to produce hair scrunchies, such cotton, silk, velvet, and others, make them pleasant to wear for a longer period of time.
- The global market is being driven by an increase in the availability of hair scrunchies produced from eco-friendly materials including organic cotton and recycled textiles.
Market Trends for Hair Scrunchies
- The cotton material market was predicted to have a significant share in 2022. In the near future, this market category is most likely to dominate the whole world.
- Cotton is an increasingly popular and extensively used material for hair scrunchies due to its numerous benefits. Cotton does not harm hair, unlike other materials. Scrunchies made of cotton are simple to clean. Cotton is also a natural, environmentally beneficial material. These are increasingly in demand all over the world.
- Consumer awareness of hair scrunchies is being boosted significantly by the internet. A sizeable proportion of customers follow online celebrities and influencers to learn about their beauty regimens, the goods they use, and the most recent fashion trends.
- New trends in personal hygiene and beauty products are also gaining increasing consumer awareness. Players within the global hair scrunchies market may find new possibilities as a result of all these reasons.
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Hair Scrunchies Market Regional Outlook
Various reasons are propelling the growth of the hair scrunchies market in different regions. These are:
- During the projected period, North America is expected to lead the global market. The region’s rising tendency of copying the looks of celebrities and the region’s growing fashion-conscious populace are two major drivers of industry growth. Growing consumer awareness of women’s personal grooming is helping the industry grow.
- Innovative hairstyles are helping women improve their looks. This element is anticipated to fuel market expansion in the area. The demand for hair scrunchies in the area is also being fueled by the increase in the number of working women and the expansion of the fashion sector.
- In the near future, the markets for hair scrunchies in Europe and Asia Pacific are anticipated to overtake those in North America.
Global Hair Scrunchies Market: Key Players
The global sector is extremely fragmented, with several local and international competitors holding the majority of the market share. To capture a lucrative market share for hair scrunchies, these competitors are employing a variety of cutting-edge marketing techniques. Manufacturers are attempting to fulfill consumer requests while concentrating on product development by releasing eco-friendly items at competitive prices.
The following companies are well-known participants in the global hair scrunchies market:
- Burberry Group Plc.
- Donni
- Claire’s Accessories
- Dannijo
- Halo Luxe
- Jennifer Behr LLC
- Lele Sadoughi
- Lelet NY
- Lululemon Athletica
- Urban Outfitters
Developments by the key players in the global market for hair scrunchies are:
| Market Player | Year | Key Developments |
| LilySilk | 2023 |
|
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Global Hair Scrunchies Market Segmentation
- Category
- Printed
- Solid Color
- Material
- Silk
- Cotton
- Rayon
- Velvet
- Others (Polyester, Satin, etc.)
- Size
- Mini
- Basic
- Large
- Extra large
- Price
- Low
- Medium
- High
- Distribution channel
- Online
- E-commerce Websites
- Company-owned websites
- Offline
- Hypermarkets/Supermarkets
- Specialty Stores
- Other retail stores
- Online
- By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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