The Latin America, Middle East and Africa Hair Accessories Market would witness market growth of 10.6% CAGR during the forecast period (2021-2027).
The adoption of glossy, healthy, and well-groomed hairdos by customers to improve their overall personalities would accelerate the growth of the hair accessories market over the forecast period. Additionally, customers are highly experimenting with their hairstyles, investing in hair care routines, trying out different haircuts, and using trending & innovative accessories according to their needs. Due to all these factors, the demand and growth for hair accessories would increase in the coming years. Moreover, the shifting preference of consumers for grooming products is anticipated to escalate the growth of the market.
With the increasing internet penetration, the popularity of various social media platforms like Meta, Instagram has increased in this region. These social media platforms have the capability to influence people and also give them updates about the fashion trends going. Also, the rise in the number of fashion influencers and bloggers would further contribute to the growing demand for trendy hair accessories across this region.
Along with that, the increasing discretionary income of the people is motivating them to spend on various luxurious products including apparel and accessories, which is estimated to create lucrative opportunities for the key market players.
The Brazil market dominated the LAMEA Hair Accessories Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $632.9 Million by 2027. The Argentina market would experience a CAGR of 11.2% during (2021 - 2027). Additionally, The UAE market is poised to grow at a CAGR of 10.3% during (2021 - 2027).
Based on distribution channel, the market is segmented into general stores, online, and Supermarkets & Hypermarkets. Based on product, the market is segmented into Elastics & Ties, Wigs & Extensions, Clips & Pins, Headbands, and Other Products. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Hair Accessories Market is Predict to reach $25.9 billion by 2027, at a CAGR of 9.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Forever 21, Inc., Fromm International, Annie International, Inc., The Finest Accessories, Inc., SILKE London, Invisibobble, SwirlyCurly Hair, H&M Group, Conair LLC (American Securities), and Good Hair Day (Coty)
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