Global and Chinese Baseball Caps market is predicted to expand at a phenomenal CAGR over the forecast period (2018 to 2023
The global and Chinese baseball caps market is predicted to expand at a phenomenal CAGR over the forecast period (2018 to 2023). Growing popularity of the game of baseball is anticipated to propel demand for quality baseball caps with logos of different teams and in different colors. This is one of the primary drivers for the global market.
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High demand for expensive and retro-styled hats to keep pace with the latest fashion trends is anticipated to propel growth of the baseball caps market. Increasing number of men and women supporting branded caps is likely to stimulate growth of the market over the forecast period. High adoption of caps among athletes and non-athletes to protect themselves from sunlight and as a fashion accessory to go with casual attires can further foster market growth.
Rising popularity of baseball caps among police and military personnel is also expected to fuel growth of the market for baseball caps. Availability of comfortable and stylish caps can attract more consumers. To cater to rising demand and changing trends, most companies are offering customized and authentic baseball caps. For instance, Adidas Originals recently unveiled its new baseball cap in pastel pink color. This cap is likely to feature six-panel construction being made from polyester or cotton in pale pink hue. In addition, it has the company’s logo embroidered upon the front-center in white giving it the authenticity.
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The worldwide baseball caps market can be segregated on the basis of product type, application, and region. Based on the product type, the market can be classified into women, men, and kids. In the coming years, the men segment is likely to grow at an impressive pace owing to high adoption of baseball caps among men as a fashion statement.
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