The millinery market is subject to a potential market growth as there has been a constant demand for hats since ages. Wearing a hat for multiple occasions is a prolonged tradition followed since time immemorial. Also, in the modern era, wearing a hat is a symbol of style and at some places events are held to declare the most stylish personality. Commercial importance for millinery started gaining a higher traction with the rise in industrialization and urbanization.
The market is highly driven by positive surge in demand for milliners to produce hats having a zeal and appeal and would fit for multiple occasions. Boom in handicrafts industry across the world is likely to propel the market growth at present. Millinery is an upcoming market worth investing due to flexibility of shipping customs and personalization.
Sports cap and leisure caps constitute as product segments for millinery market. Sports cap account for a higher market share in the international market due to increase in sports ventures and demand for protective equipment. Application segments such as medical and fleet management sum up for market growth in the near future.
North America is in a dominating position for millinery market and accounts for a greater market share due to rise in demand for varied purpose and the need for protective equipment. Novel approach laid out by manufacturers and distributors for production, packaging and distribution triggers the market growth in the near future. Asia-Pacific market enjoys a leading position owing to wider presence of cap manufacturers and thanks to handicrafts industry. The handicrafts industry in APAC sector is a booming sector since the rise in number of artisans and products delivered.
On contrary, MEA market is likely to have a relevant market position in terms of supply and demand. The market seems a positive traction by a wider presence of hat manufacturers and availability of raw materials.
Prominent players in the millinery market include Domo, Akubra, Jaxon Hats, Swan Hats, Vans Hats, Nike Hats, New York Hat & Cap and Yo Gabba.