Winter Hats Market Expected To Witness A Substantial Growth Of $36.4 Billion By 2030: Grand View Research Inc.

 

San Francisco, 30 October 2023: The Report Winter Hats Market Size, Share & Trends Analysis Report By Type (Beanies Hat, Bobble Hat, Winter Headbands), By Material (Wool, Polyester), By Gender (Men, Women, Kids), By Distribution Channel, By Region, And Segment Forecasts, 2022 - 2030

The global winter hats market size was estimated to reach USD 36.4 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.0% from 2022 to 2030. Changing environmental conditions is increasing the need of winter apparel, accessories, and blankets. Among the winter accessories, winter hat is gaining the traction as protection of head keep head warm. Furthermore, communicable diseases are spreading across topological countries such as Brazil, India, and Australia, which resulted into increasing the number of patients. The demand for the winter hat from patients is also contributing to the growth rate of the market.

Micro level factors such as increased income levels, high investments on winter clothing; especially in developing countries China, India, Brazil are driving the market. On controversy, factors such as introduction of jackets and sweatshirts along with caps/hats and availability of substitutes for winter hats such as mufflers, muffs, and scarfs are restraining growth of the market. The COVID-19 pandemic had negatively impacted the market. Due to global lockdown and spread of deadly disease, customers changed their preferences towards the buying patterns.

Moreover, lack of skilled labor, and shortage of the raw material were impacted the production of the winter hats. In addition to this, there was disruptions in the distribution channels. Global financial crisis because of the COVID-19 resulted into changing preferences and priorities such as decline spending and consumption of consumers. With this temporary economic crisis, winter hat market is expected to grow with during the forecast period. The beanies hats dominated the market share of over 40% in 2021. Beanies are largely use by people for everyday wear in the city and for a ton of indoor and outdoor events. Due to its vital function, winter hats in various style can be found separately in various regions with a minimum temperature throughout history.

Beanies are largely trendy between the young generation because it fits with every outfit. Thus, beanies hats use is large over the years and it generated large revenue in 2021. The wool material segment contributed market share of around 55% in 2021. The use of wool material for production of winter hats is huge as it is easily accessible natural fabric that is strong, breathable, warm as well as absorbent. Moreover, wools are available in various colors as well as shades thus its use is more in winter hats production over the years. Thus, wool segment dominated the market and collected large revenue in 2021.

The kids segment is expected to register a CAGR of 3.4% from 2022 to 2030. Modern age parents are very caring about their kids and are investing willing to pay for their comfort. Caring for kids is primarily pushing the demand for kids segment. Growing social media influence and changing fashion trends are strongly impact on kids winter hat market. Additionally, rising trend of kids’ photoshoots has further increased demand for trendy and affordable clothing for new age kids.

The online segment is expected to register the highest growth rate of 4.7% from 2022 to 2030. This growth of online distribution channel can be attributed to its growing usage of smart phones and availability of the high-speed internet. Leading smart home appliance manufacturers are tying up with online retailer with an objective to reach out to the new buyer’s base. Also surge in sales of smart home appliances primarily though company own websites and other e-commerce platforms are further driving the online segment growth.

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In Europe, the market accounted for revenue share of around 40.0% in 2021. Some of the key factors driving the market in Europe include the growing fashion sector and changing lifestyles, increasing need for convenience in terms of comfort through easy availability. Several countries such as Norway, Finland, Denmark, Russia and Sweden are considering as extremely colder countries. Therefore, the usage of winter hats is large in such a country. In addition, Europe is assessed to hold a vital presence in the market, due to possessing major number of old age people who often require to use winter hats to protect from cold weather conditions. Thus, Europe contributes to more revenue generation in the market.

Winter Hats Market Report Highlights

• Asia Pacific accounted for market share of 4.6% in 2021. This is due to growing preference for innovative winter hats and increasing population in nations such as India and China. Moreover, changing weather pattern in Southeast Asian countries leads to the growing demand for winter hats
• The kids segment is expected to register a CAGR of 3.4% from 2022 to 2030. Modern age parents are very caring about their kids are investing willing to pay for their comfort
• The online segment is expected to register the highest CAGR of 4.7% from 2022 to 2030. This growth of online distribution channel can be attributed to its growing usage of smart phones and availability of the high-speed internet

Increasing awareness about the fashion trends globally, changes in the environmental temperatures, and rising share of urban citizens are primary driving factor for the increasing of demand for winter hats over the years. At a macro level, factors such as increasing spending on apparel, increasing disposable income of consumers, and adoption of the online distribution channel are accelerating the demand for winter hats worldwide.

Moreover, changing environmental conditions leads to low room temperature at many countries across the world, which in turn is primary driving factor for rising adoption of winter hats. Prominent brands within the industry are increasingly focusing on offering variety of winter hats in terms of colors, designs, styles, and sizes responding demands from consumers. The major companies operating in the industry are pandering in the production of distinctive products that can set them apart from the crowd. For instance, the use of new materials and partnerships with celebrities has led big companies to establish themselves in the headwear market.

Winter Hats Market Report Scope

Report Attribute	Details
Market size value in 2022	USD 26.6 billion
Revenue forecast in 2030	USD 36.4 billion
Growth Rate	CAGR of 4.0% from 2022 to 2030
Base year for estimation	2021
Historical data	2017 - 2020
Forecast period	2022 - 2030

Winter hats are majorly manufactured from wool and cotton, which are used to protect head from coldness during the winter season. Additionally, these hats help maintain the temperature of head and keep the head warm. Along with coldness, winter hats are also protecting from dust and dirt in the environment. Variety of the styles and designs of the winter hats are attracting people for purchasing winter hats.

Rising impact of social media platforms such as Instagram, and Twitter, the adoption of trends by consumers, and improved fashion trends considering health, fashion, and beauty are generating the opportunities. Thus, vendors and brands are investing and innovating as per demand from the consumers as per requirements. Adoption of websites and mobile apps by winter hat vendors and brand for selling the products is generating the opportunity to grow the industry.

List of Key Players of Winter Hats Market

• Blauer Manufacturing Co., Inc.
• H&M
• OVS S.p.A
• Poshmark, Inc.
• Rothco
• Supreme
• Timberland
• Woolrich, Inc.
• ZARA
• Gap Inc.