Market Forecast by Countries (Brazil, Mexico, Argentina, Rest of Latin America), By Product Type (Clips & Pins, Head Bands, Wigs & Extensions, Elastics & Ties, Others), By Distribution Channel (Supermarkets & Hypermarkets, General Stores, Online) And Competitive Landscape
Product Code: ETC079571 | Publication Date: Mar 2023 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 30 |
The Latin America Hair Accessories Market is witnessing steady growth over the years. The growth is primarily driven by factors such as rising disposable incomes, changing fashion trends, and increasing awareness of personal grooming. In recent years, there has been a surge in demand for hair accessories such as hair clips, headbands, hair ties, and hairpins, among others. Additionally, one notable trend in the Latin America hair accessories market is the growing popularity of eco-friendly and sustainable products. Consumers are increasingly conscious of the environmental impact of their purchasing decisions and are seeking out products that are eco-friendly and made from sustainable materials. Moreover, the market has witnessed an in online sales. With the increasing use of smartphones and the internet, consumers are increasingly shopping online for their hair accessories, which has led to the growth of e-commerce in the region.
The Latin America Hair Accessories industry is a dynamic and growing industry, driven by changing fashion trends, rising disposable incomes, and increasing awareness of personal grooming. The market is likely to continue to evolve in the coming years, with new trends and innovations shaping the industry. Additionally, the market has witnessed an increasing demand for hair extensions and wigs. The demand for hair extensions and wigs is growing in Latin America, especially among younger consumers who are looking for ways to experiment with their hair without damaging it. This trend is driving the growth of the hair accessories market. Further, the market is also witnessing an increasing adoption of online channels for hair accessories purchases. With the increasing use of smartphones and internet connectivity in Latin America, there is a growing trend of consumers buying hair accessories online. This trend is driving the growth of e-commerce platforms and online retailers. Moreover, the manufacturers are expanding their product portfolios to offer a wider range of hair accessories, including hair clips, headbands, hairpins, and hair ties. These initiatives will enhance the market share of players over the years.
Latin America Hair Accessories Market is expected to gain growth in the coming years. The major driving factor in the Latin America market are headbands, bows and clips since there are lots of children who are going to school hence it become a huge market. Along with this other related hair accessories find a pretty decent market share. Permanent colouring was a preferred product for hair colouring among both males and females. The different colours and shapes of the small accessories at cheaper prices attract people to purchase them in large numbers. Countries such as Brazil have a long history of attracting immigrants from Africa, Europe, Japan, and the Middle East. The Latin America region is a relatively smaller market in comparison to North America and Asia Pacific. The restraining factors are distribution channels where the Latin America region hair styling market is highly dependent on exclusive service distributors and open-line channels for large purchases. Since the majority of the purchase belong to the unorganised sector the accountability of the movement and forecasting of the requirement of the hair accessories becomes difficult. Also, there is no major manufacturing that happens in this region and it’s exported from other countries due to inefficient resources. The COVID-19 pandemic struck Brazil in 2020 when most Brazilians were still trying to regain their purchasing power after the previous economic downturn. After the relaxation of Covid -19 norms, the industry has been developing a positive trend in market performance.
According to 6Wresearch, the Latin America Hair Accessories Market size is anticipated to register growth during 2021-2027, in the Latin America region the countries which were leading in the hair accessories business are Brazil, Argentina and Mexico. Hair relaxants and curly and tightly coiled hair are in high demand in Brazil because it is proudly displayed by women of all ethnicities. The population is very large and moreover, the working age group and children are more in those countries and hence there is a continuous demand for products. The latest trends in hair care products are containing natural plant oils such as argon, and olive oil, and other new oils such as carrot almond oil, sea buckthorn oil, and seed oil, among others. Low-maintenance, odorous plants are making a comeback, with a boom in the usage of onion and garlic in shampoos and conditioners claiming an anti-hair loss, anti-inflammatory, antibiotic, and anti-bacterial properties.
The market segmentation is primarily targeting the age group of people who are between 18-35 years popularly known as Millennials or Generation Z. On basis of service category, the market has been segmented into hair colouring products, perming and straightening products, shampoo and conditioning products, styling and various other products such as headbands, pins etc. Distribution channels followed by the company are direct distribution by the company or they have a chain of distributors such as a company to wholesaler to retailer and then reach the consumers. Since the product segment is wide every wholesaler has their own warehouse and other storage areas where they can reach the retailer at the least possible time and make sure the goods are available at every time because the distribution of goods plays an important role in the logistics of products.
The Latin America Hair Accessories market report thoroughly covers the market by product type, the material on which they have been produced and regions including Brazil, Argentina and Mexico. The Latin America Hair Accessories market outlook report provides an unbiased and detailed analysis of the ongoing Latin America Hair Accessories market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
The market report covers the following market segments
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Latin America Hair Accessories Market Overview |
3.1 Latin America Regional Macro Economic Indicators |
3.2 Latin America Hair Accessories Market Revenues & Volume, 2020 & 2027F |
3.3 Latin America Hair Accessories Market - Industry Life Cycle |
3.4 Latin America Hair Accessories Market - Porter's Five Forces |
3.5 Latin America Hair Accessories Market Revenues & Volume Share, By Countries, 2020 & 2027F |
3.6 Latin America Hair Accessories Market Revenues & Volume Share, By Product Type, 2020 & 2027F |
3.7 Latin America Hair Accessories Market Revenues & Volume Share, By Distribution Channel, 2020 & 2027F |
4 Latin America Hair Accessories Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Latin America Hair Accessories Market Trends |
6 Latin America Hair Accessories Market, 2017 - 2027 |
6.1 Latin America Hair Accessories Market, Revenues & Volume, By Product Type, 2017 - 2027 |
6.2 Latin America Hair Accessories Market, Revenues & Volume, By Distribution Channel, 2017 - 2027 |
7 Brazil Hair Accessories Market, 2017 - 2027 |
7.1 Brazil Hair Accessories Market, Revenues & Volume, By Product Type, 2017 - 2027 |
7.2 Brazil Hair Accessories Market, Revenues & Volume, By Distribution Channel, 2017 - 2027 |
8 Mexico Hair Accessories Market, 2017 - 2027 |
8.1 Mexico Hair Accessories Market, Revenues & Volume, By Product Type, 2017 - 2027 |
8.2 Mexico Hair Accessories Market, Revenues & Volume, By Distribution Channel, 2017 - 2027 |
9 Argentina Hair Accessories Market, 2017 - 2027 |
9.1 Argentina Hair Accessories Market, Revenues & Volume, By Product Type, 2017 - 2027 |
9.2 Argentina Hair Accessories Market, Revenues & Volume, By Distribution Channel, 2017 - 2027 |
10 Rest of Latin America Hair Accessories Market, 2017 - 2027 |
10.1 Rest of Latin America Hair Accessories Market, Revenues & Volume, By Product Type, 2017 - 2027 |
10.2 Rest of Latin America Hair Accessories Market, Revenues & Volume, By Distribution Channel, 2017 - 2027 |
11 Latin America Hair Accessories Market Key Performance Indicators |
12 Latin America Hair Accessories Market - Opportunity Assessment |
12.1 Latin America Hair Accessories Market Opportunity Assessment, By Countries, 2020 & 2027F |
12.2 Latin America Hair Accessories Market Opportunity Assessment, By Product Type, 2020 & 2027F |
12.3 Latin America Hair Accessories Market Opportunity Assessment, By Distribution Channel, 2020 & 2027F |
13 Latin America Hair Accessories Market - Competitive Landscape |
13.1 Latin America Hair Accessories Market Revenue Share, By Companies, 2020 |
13.2 Latin America Hair Accessories Market Competitive Benchmarking, By Operating and Technical Parameters |
14 Company Profiles |
15 Recommendations |
16 Disclaimer |