LAMEA Headwear Market Size, Share & Industry Trends Analysis Report By Distribution Channel (Offline and Online), By Type (Hats & Caps, Beanies and Others), By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Latin America, Middle East and Africa Headwear Market would witness market growth of 8.4% CAGR during the forecast period (2022-2028).
The expansion of the fashion sector, which has led to an increase in the attractiveness of fashion and style among the general public, is the main factor driving the development of the headwear market. Additionally, the increasing popularity of winter clothing and accessories like woolen hats, beanies, and winter headgear items in developed nations can be largely attributed to the altering weather patterns brought on by global warming. Offering a selection of winter hats is something that top organizations in the sector are putting more emphasis on. In order to meet the specific needs of each consumer, their new designs differ greatly in terms of color, form, style, and size.
The booming fashion sector and widespread use of the product as a fashion statement that completes an outfit, add flamboyance and increases self-confidence significantly contribute to the market's expansion. Along these lines, growing trends in product customization to match attire, support sports franchises, raise money for a good cause and promote companies are contributing to growth. The expansion of the beauty sector is the primary driver of the hat industry. Most women are persuaded to wear hats primarily or at least partly because they think it improves their appearance, particularly their hair.
The middle class serves as both the bedrock and the engine of the consumer industry. Therefore, the prospect of ongoing middle-class growth in the region due to stronger economic performance is encouraging for businesses operating there. Furthermore, the growth of the middle class will also benefit businesses operating in the region since it will broaden the regional talent pool and boost the supply of more skilled labor because middle-class people typically have a superior education. Therefore, the region presents lucrative growth opportunities for the growth of the headwear market in the coming years.
The Brazil market dominated the LAMEA Headwear Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $661.4 million by 2028. The Argentina market is registering a CAGR of 8.9% during (2022 - 2028). Additionally, The UAE market would generate a CAGR of 8.1% during (2022 - 2028).
Based on Distribution Channel, the market is segmented into Offline and Online. Based on Type, the market is segmented into Hats & Caps, Beanies and Others. 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 Headwear Market will Hit $36.4 Billion by 2028, at a CAGR of 6.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Adidas AG, PVH Corporation (Calvin Klein), Capri Holdings Limited, Guccio Gucci S.p.A. (Kering Group), New Era Cap Co., Lacoste (Maus Frères SA), Superdry Plc, Nike, Inc., Ralph Lauren Corporation, and PUMA SE.
Scope of the Study
Market Segments Covered in the Report:
By Distribution Channel
- Hats & Caps
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Adidas AG
- PVH Corporation (Calvin Klein)
- Capri Holdings Limited
- Guccio Gucci S.p.A. (Kering Group)
- New Era Cap Co.
- Lacoste (Maus Frères SA)
- Superdry Plc
- Nike, Inc.
- Ralph Lauren Corporation
- PUMA SE
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