Report : Middle East & Africa Caps and Hats Market Forecast to 2031 - Regional Analysis - by Type (Caps and Hats), Material (Polyester, Cotton, Leather, Blends, and Others), End User (Men, Women, Unisex, and Kids), and Distribution Channel (Supermarket and Hypermarket, Specialty Stores, Online Retail, and Others)
At 4.5% CAGR, Middle East & Africa Caps and Hats Market is Projected to be Worth US$ 1,027.48 Million by 2031, says Business Market Insights
According to Business Market Insights' research, the Middle East & Africa caps and hats market was valued at US$ 722.33 million in 2023 and is expected to reach US$ 1,027.48 million by 2031, registering a CAGR of 4.5% from 2023 to 2031. Growth of fashion & apparel industry and focus on sustainable fabrics for caps and hats are among the critical factors attributed to drive the Middle East & Africa caps and hats market growth.
The global apparel industry is dynamic and constantly evolving with factors such as consumer demographics, economic trends, consumer buying behavior, and technological advancements. Consumers increasingly spend on apparel, footwear, and accessories to enhance their appearance with changing lifestyles. A consumer unit refers to a household consisting of two or more people who share the major expenses or are financially independent. Consumer spending on apparel and accessories also increases with a surging working population. According to the International Labor Organization (ILO), the number of employed people worldwide reached approximately 3.4 billion in 2023. With the surging number of working professionals, the emphasis on self-grooming is also increasing. The apparel & fashion industry is also significantly transforming with the changing retail landscape. The proliferating e-commerce industry, consumer preference for online shopping, and availability of various apparel and accessories of different brands at discounted prices are boosting apparel sales through online retail channels. Major manufacturers are also introducing direct-to-consumer (D2C) websites where consumers can access authentic products at affordable prices. For instance, companies like Adidas AG, Nike Inc, and Under Armor Inc have their own direct-retailing websites where consumers can shop authentic products, increasing customer satisfaction and brand loyalty.
Caps and hats are fashion accessories that enhance the overall look of the outfit and help individuals make a fashion statement. Caps and hats are no longer used just for protection from sun, wind, and extreme weather conditions; they are also utilized as styling elements to enhance the appearance. Various caps and hats are available for different occasions and seasons; for instance, sun hats are used explicitly in summer with beach outfits and swimsuits to elevate the overall look and protect from the sun. Consumers are trying different outfits and styling techniques, which drives the demand for various styling accessories, including caps and hats. Thus, the growth of the apparel & fashion industry drives the caps and hats market.
On the contrary, presence of unorganized market and counterfeit products hurdle the growth of Middle East & Africa caps and hats market.
Based on type, the Middle East & Africa caps and hats market is bifurcated into caps and hats. The caps segment held 90.6% market share in 2023, amassing US$ 654.30 million. It is projected to garner US$ 933.46 million by 2031 to register 4.5% CAGR during 2023-2031.
In terms of material, the Middle East & Africa caps and hats market is segmented into polyester, cotton, leather, blends, and others. The cotton segment held 34.3% share of Middle East & Africa caps and hats market in 2023, amassing US$ 247.72 million. It is anticipated to garner US$ 360.97 million by 2031 to expand at 4.8% CAGR during 2023-2031.
By end user, the Middle East & Africa caps and hats market is divided into conventional men, women, unisex, and kids. The men segment held 51.4% share of Middle East & Africa caps and hats market in 2023, amassing US$ 371.59 million. It is projected to garner US$ 518.25 million by 2031 to expand at 4.2% CAGR from 2023 to 2031.
Based on distribution channel, the Middle East & Africa caps and hats market is categorized into supermarket and hypermarket, specialty stores, online retail, and others. The specialty stores segment held 58.5% share of Middle East & Africa caps and hats market in 2023, amassing US$ 422.43 million. It is predicted to garner US$ 605.49 million by 2031 to expand at 4.6% CAGR between 2023 and 2031
Based on country, the Middle East & Africa caps and hats market is categorized into the UAE, South Africa, Saudi Arabia, and the Rest of Middle East & Africa. Our regional analysis states that the Rest of Middle East & Africa captured 61.2% share of Middle East & Africa caps and hats market in 2023. It was assessed at US$ 442.28 million in 2023 and is likely to hit US$ 604.40 million by 2031, registering a CAGR of 4.0% during 2023-2031.
Key players operating in the Middle East & Africa caps and hats market are Nike Inc, Adidas AG, Under Armour Inc, H&M Hennes & Mauritz AB, New Era Cap, Puma SE, ADER, YUPOONG INC, and Levi Strauss & Co, among others.
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