Hair Scrunchies Market to Expand at a CAGR of 5.9% during Forecast Period: Reveals TMR Study

WILMINGTON, DE / ACCESSWIRE / April 10, 2023 / Transparency Market Research Inc. - The global hair scrunchies market size was valued at US$ 2.2 Bn in 2022, and it is expected to reach US$ 4.3 Bn by 2031. The global industry is projected to expand at a CAGR of 5.9% between 2023 and 2031.

Increase in numbers of women in the workforce, growing hair fashion trends, and expansion of the e-commerce industry are some of the key reasons fueling market development. Additionally, rise in number of social media influencers, enhanced lifestyles, and rapid urbanization are anticipated to create business opportunities in the global hair scrunchies market.

Long, medium, and short hair can be styled using scrunchies, which are elastic hair ties wrapped in fabric. It is a little ruffled elastic ring that is coiled around a ponytail and covered with a thin layer of cloth. Hair scrunchies are available in various sizes, including small, medium, and big, and are simple to use.

Growing consumer preference for personal grooming habits is a key factor that is expected to drive the global hair scrunchies market.Hair scrunchies are available through various offline and online distribution channels.

Demand for environment-friendly hair scrunchies is estimated to rise in the near future. Manufacturers are focusing on untapped markets and trying to work with various e-commerce platforms to boost revenues and business growth.

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Key Findings of Market Report

Based on material, the cotton material segment held a significant market share in 2022. The segment is likely to dominate the global industry in the coming years.

Cotton is a more preferred and commonly used material for hair scrunchies, as it offers numerous benefits such as less damage to hair as compared to that caused by other fabrics. Moreover, scrunchies made of cotton are simple to clean. Cotton is also a natural, environmentally friendly fabric.

Global Hair Scrunchies Market: Growth Drivers

Consumers love wearing hair scrunchies made of velvet and satin. They are also appropriate for any hair type since they don't break hair. Demand for hair scrunchies and hair bands is rising majorly due to shifting fashion trends, rapid improvements in manufacturing, and increase in supply of several attractive hair accessories.

In contrast to other hair ties, scrunchies prevent breaking and tangling of hair. Increased female employment, particularly in business and the fashion industry, is driving market expansion.

Women follow the latest fashion trends to improve their appearance. Employed women are more inclined to invest in high-quality personal care items such as hair scrunchies. This is expected to drive industry growth.

Purchasing scrunchies is now simpler owing to e-commerce platforms. Customers can choose hair scrunchies from a broad selection of products offered in offline shops and online retailers.

Hair scrunchies are typically made from soft fabrics such as velvet, silk, and cotton, hence wearing one for a prolonged period is not unpleasant.

Increase in availability of hair scrunchies produced from environmentally friendly materials, including organic cotton and recycled fabric, is likely to drive the global industry.

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Global Hair Scrunchies Market: Regional Landscape

Based on recent market report, North America is expected to dominate the global industry from 2023 to 2031. Growing trend of celebrity styles and appearances and growing fashion-conscious populace in the region are major factors driving industry growth. Growing consumer awareness about women's personal groomingis expected to fuel growth of the North America market.

Global Hair Scrunchies Market: Key Players

Some of the key players in the global hair scrunchies market are as follows

Jennifer Behr LLC.

Burberry Group Plc.

Urban Outfitters

Halo Luxe

Claire's Accessories

Lelet NY

Key Points from TOC:

1. Preface

1.1. Market Definitions and Scope

1.2. Market Segmentation

1.3. Key Research Objectives

1.4. Research Highlights

2. Assumptions

3. Research Methodology

4. Executive Summary

5. Market Overview

5.1. Introduction

5.2. Market Dynamics

5.2.1. Drivers

5.2.2. Restraints

5.2.3. Opportunities

5.3. Key Trends Analysis

5.3.1. Supply Side

5.3.2. Demand Side

5.4. Key Market Indicators

5.4.1. Hair Accessories Market Overview

5.5. Porter's Five Forces Analysis

5.6. Value Chain Analysis

5.7. Industry SWOT Analysis

5.8. COVID -19 Impact Analysis

5.9. Global Hair Scrunchies Market Analysis and Forecast, 2017 - 2031

5.9.1. Market Value Projections (US$ Mn)

5.9.2. Market Volume Projections (Million Units)

6. Global Hair Scrunchies Market Analysis and Forecast, by Category

6.1. Hair Scrunchies Market (US$ Mn and Million Units), by Category, 2017 - 2031

6.1.1. Printed

6.1.2. Solid Color

6.2. Incremental Opportunity, by Category

TOC Continued……

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Global Hair Scrunchies Market: Segmentation

Category

Printed

Solid Color

Material

Silk

Cotton

Rayon

Velvet

Others

Size

Mini

Basic

Large

Extra large

Price

Low

Medium

High

Distribution Channel

Online

Offline

Regions

North America

Europe

Asia Pacific

Middle East & Africa

Latin America

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