The headwear market size is estimated at USD 28.28 billion in 2024. It is projected to reach USD 38.69 billion by 2029, registering a CAGR of 6.47% during the forecast period (2024-2029).
The global headwear market is highly competitive due to the presence of numerous players, including Adidas AG, Nike Inc., New Era Cap, Under Armour Inc., and Pipolaki. Major companies are adopting innovative production strategies to differentiate their products and brand image. They are using new materials and partnering with celebrities to establish themselves in the headwear market. They are also offering sponsorships for various sports and events, leading to an increase in the sales of headwear products.
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