Hair Scrunchies Market: Introduction
A hair scrunchie is a fabric covered elastic hair tie that is used to tie short to medium to long hair types. A hair scrunchie is a small ring of elastic encased in loose fabric that forms a ruffle when twisted around a ponytail. Hair scrunchies are available in various large, tiny, and medium forms. Also, manufacturers offer many different colors, fabrics, styles, and designs of hair scrunchies to customers. Scrunchies are good for any hair as they do not cause breakage. The layer of fabric around the elastic band means that the hair does not get tangled and knotted with a scrunchie.
Key drivers of the hair scrunchies market
Growing demand for the product in the market is due to rise in demand for hair scrunchies for commercial use (beauty parlors, make-up artists, fashion bloggers, and personal use etc.). The market growth is attributed to an increasing trend of using fashionable products that serve as items of utility as well as gives a trendy look to the hairdo. Rapid development in production technologies, evolving fashion trends, and hairstyles, and availability of various attractive accessories have driven consumers to purchase hair scrunchies. These factors propel the demand for hair scrunchies at the global level.
Increasing internet awareness creating opportunities in the hair scrunchies market
The internet is playing a key role in making consumers more familiar with hair scrunchies through social media influencers, bloggers, and vloggers. A significant number of millennial are following internet celebrities and influencers to understand and enhance their skills in personal grooming, makeup, and fashion. In recent years, consumers have also shown preference for products that are easy to use. Increasing number of consumers are gaining access to the internet and consequently to multiple platforms that offer beauty products including hair scrunchies. People are also becoming progressively aware of new beauty and grooming trends. These factors create new opportunities for hair scrunchies in the market.
Counterfeit products a restraint of the hair scrunchies market
Availability of counterfeit and fake products is expected to hamper the market. The products manufactured by original brands gets affected due to such counterfeit products which usually are of low quality and it affects the brand. These factors acts as restraints for the hair scrunchies market.
APAC the dominant market
Asia Pacific accounts for dominant share in the hair scrunchies market in terms of revenue contribution as compared to markets in other regions due to increased adoption of hair scrunchies by various end-users such as hair stylists, fashion bloggers, and for personal use in the region. Healthy, glossy, and well-groomed hairdos are an essential part of the routine of consumers to enhance their appearance. Thus, people take care of their hair, experiment with different haircuts, and do not shy away from trying trendy and innovative accessories, which is fueling the demand for hair scrunchies among consumers. The increasing number of working women, especially in the corporate sector and fashion industry, has driven the demand for the product in developing countries across the region, such as India, Indonesia, and China.
Key players operating in the global market
Companies are working on product innovation and development to expand their customer base. Furthermore, key companies are adopting the merger and acquisition strategy to improve their market revenue at the global level. Some of the major companies identified in the hair scrunchies market are:
Hair Scrunchies Market: Research Scope
Hair Scrunchies Market, by Texture
Hair Scrunchies Market, by Distribution Channel
Hair Scrunchies Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
The report on the hair scrunchies market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions.
This intelligence report by TMR is the outcome of intense study and rigorous assessment of various dynamics shaping the growth of the market. TMR nurtures a close-knit team of analysts, strategists, and industry experts who offer clients tools, methodologies, and frameworks to make smarter decisions. Our objective, insights, and actionable analytics provide CXOs and executives to advance their mission-critical priorities with confidence.
The scrutiny of the various forces impacting the dynamics of the market, and key and associated industries, guides enterprises in understanding various consumer propositions. Our clients leverage these insights and perspectives to enhance customer experience in the fast-paced business environment.
All our insights and perspectives are broadly based on 4 Pillars or Stages: ASBC-S, which offer an elaborate and customizable framework for the success of an organization. The essence and the roles of these in organizational successes are highlighted below:
- Agenda for CXOs: TMR, through the study, sets the tone for agendas that are pertinent to CEOs, CFOs, CIOs, and other CXO executives of businesses operating in the market. The perspectives help our clients to bridge the gap between agenda and action plan. TMR strives to offer guidance to CXOs to undertake mission-critical activities empowered by various business analysis tools, and boost the performance of the organizations. The perspectives guide you to decide on your own marketing mix that align well with the policies, visions, and mission.
- Strategic Frameworks: The study offers how organizations are setting both short-term and long-term strategic plans. Our team of experts collaborate and communicate with you to understand these to make your organizations sustainable and resilient during tough times. The insights help them decide sustainable competitive advantage for each business units.
- Benchmarking for Deciding Target Markets and Brand Positioning: The assessments in the study provides a scrutiny of marketing channels and marketing mix. Our various teams work synergistically with you to help identify your actual and potential direct, indirect, and budget competition areas. Additionally, the study helps you decide most effective budgets for various processes and promotional activities. Furthermore, the study guides you to set benchmarks for integrating people and processes with the 4Ps of marketing. Eventually, this will empower you to find out unique propositioning strategies and niches.
- Business Composability for Sustainability (C-S): Constant strategy planning for sustainability characterizing our C-S framework in the report has become more relevant than before in the face of disruptions caused by pandemics, recessions, boom and bust cycles, and changing geopolitical scenario. The TMR study offers a high level of customization to help you achieve business composability. Composable enterprises are increasingly gaining the attention of CXOs in order to help them combat market volatility. Our analysts and industry experts help you wade through such uncertainties and guide you to become a smart sustainable business in entirety.
The study presents scrutiny of region-specific consumer and technology trends, including the most recent industry dynamics. These broadly cover but not limited to
- North America, South America, and the Americas
- Asia Pacific and Japan
- Latin America
- Middle East and Africa
The study offers data-driven insights and guidance of several aspects. Some of the more notable questions are:
- What are the major recent trends that can influence the product life cycle and the RoI?
- Which regulatory trends shape corporate-level, business-level, and functional-level strategies?
- Which micromarketing initiatives of leading players will bring in investments?
- What can be the best framework and tools for PESTLE analysis?
- Which regions will witness rise in new opportunities?
- Which are the game-changing technologies being used to capture new revenue streams in the near future?
- Which operational and tactical frameworks are being adopted by various players in gaining customer loyalty?
- What is the current and expected intensity of competition the market in the near future?
Disclaimer: This market research study is an ongoing effort and extreme care has been taken to maintain the highest levels of accuracy at all stages. However, in the light of the rapidly evolving business dynamics, some region-specific or other segment-specific changes may take time to be part of the study.