Hair Wigs and Extensions Market Share, Size, Trends, Industry Analysis Report, By Product (Wigs and Extensions); By Hair Type; By Region; Segment Forecast, 2022 - 2030
- Published Date:Nov-2022
- Pages: 119
- Format: PDF
- Report ID: PM2800
- Base Year: 2021
- Historical Data: 2018-2020
Report Outlook
The global hair wigs and extensions market was valued at USD 6.13 billion in 2021 and is expected to grow at a CAGR of 7.63% during the forecast period.
The growing incidence of hair-related problems, such as alopecia, hair thinning, and loss of volume globally, is contributing to market growth. According to the statistics published by the American Hair Loss Association (AHA), androgenetic alopecia accounts for around 95 percent of hair losses in men. In contrast, as per the National Center for Biotechnology Information, around 50% of men and women get affected by androgenetic alopecia in 2021. Further, the International Society of Hair Restoration Surgery estimated that hair loss is experienced by nearly 40% of men aged around 35 years.
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Hair wigs & hair extensions are artificial hair additions used by men & and women to attain a certain hairstyle to cover up balding or bald patches caused by alopecia or hair loss. Hair wigs and extensions are an emerging segment of women’s beauty and personal care sector; the growing use of wigs & extensions by the old age population to hide hair patches will further propel market growth over the forecast period. According to the World Health Organization, individuals aged 60 years and above were at 1.4 billion in 2021 and is expected to reach 2.1 billion by 2050.
In recent times, an extension has seen popularity among women, hence witnessing a significant transformation backed by increased per capita expenditure on fashion accessories. Women with short hair tend to use an extension to make them appear longer. As they are available in a variety of colors, extensions will grow at a fast pace over the forecast period, whereas the demand for hair wigs is expected to grow at a steady pace.
E-commerce platforms, and retail stores, including hair salons and hairstylists, are the major distribution channels for hair wigs and extensions globally. In the U.S. and the U.K., vendors sell their products through beauty stores, hypermarkets, and online marketplace platforms, including Facebook and Instagram marketplace.
The outbreak of the COVID-19 pandemic has significantly impacted the growth of the hair wigs and extensions market. The emergence of the deadly virus has stimulated the consumer's desire to not visit the salons for their grooming session. Consumers started spending more time at home, which slowed down the demand for hair wigs and extensions worldwide. In terms of supply, China leads in the raw material and human hair wigs and extensions market; hence the disruption has been experienced as government-imposed lockdown across the world. Hence, sales, raw materials, transportation, and export and import were all down, and the raw materials supply for the hair integration business was extremely limited.
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Industry Dynamics
Growth Drivers
The entertainment and fashion industries are emerging, which will account for the increasing demand for hair extensions among models, celebrities, and social media influencers. Hair extensions have found the highest adoption in the entertainment and fashion industry owing to the growing prevalence of alopecia. Also, the demand for hair extensions in a developing country such as United Stated is predominantly determined by celebrity and influencer trends. Hence the industry is expected to grow substantially in the West coast region.
Sunny’s Hair & Wigs, Minneapolis-based retail, also expanded its reach to Phoenix and Atlanta, having a huge client base from the entertainment industry. Production and fashion houses stock abundant hair extensions for artists since they are performing distinguished characters. Further, increased demand for alopecia in the African region will also boost the product demand.
Report Segmentation
The market is primarily segmented based on product, hair type, and region.
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By Product |
By Hair Type |
By Region |
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Wigs segment is expected to dominate the market in 2021
Wigs segment will significantly dominate the market and maintain its position during the forecast period as wigs are considered fashionable and provide the ease of changing the style. Hence wig made of human hair is gaining popularity among consumers. The availability of high-quality wigs encourages many men and women to choose between these alternatives rather than surgical procedures and hair transplants.
Whereas the acceptance of hair extensions will register fast growth as its demand is higher among women, and they consider hair extensions routinely as fashion accessories. Women are influenced by watching celebrities enhance their looks by adding hair extensions. Hollywood celebrities, including Kim Kardashian, Beyoncé, Brittney Spears, Kylie Jenner, and Rihanna, are majorly seen endorsing the usage of hair extensions when performing and on the red carpet.
Human hair sector is expected to hold the significant revenue share
Hair is a highly important factor for women and men helping them in elevating their personalities and build confidence. China is the leading manufacturer of artificial hair, with procurement from both domestic & international suppliers. Moreover, the demand for “Peruvian hair” also increased and is sourced primarily from Peruvian women. The hair is considered to blend well with the African-American texture and the demand for wigs & extensions made of highly textured human hair remains high. Also, rising number of African women preferring natural African textured hair turned into wigs as a means of hair protection and self-expression. The market is also witnessing high demand for human hair from customers in Japan. The demand for human hair wigs will also be observed from European consumers.
The demand in North America is expected to witness significant growth
The region is anticipated to dominate the global market throughout the forecast period. Rising disposable income and the need to improve physical appearance will propel the demand for hair wigs and extensions. A better standard of living and looking presentable during social interaction are the factors that drive product demand.
North America is a significant importer of hair wigs and extensions as there is an increasing demand for the products owing to the growing prevalence of hair loss, hair thinning, and other hair-related concerns. Earlier, American women used to hide the fact that they outsourced fuller hairstyles. However, celebrities, including Jessica Simpson and Brittany Spears, openly admit to wearing other women’s hair.
Asia Pacific is expected to be the fastest-growing global market over the forecast period. The region provides maximum growth opportunities for established manufacturers based in China, India, Vietnam, and Bangladesh. Japan and China are the key markets for the export of hair wigs and extensions across the world. Furthermore, medical patients who undergo chemotherapy suffer from an ample amount of hair loss which is expected to boost the demand for hair growth and extension in the region.
Competitive Insight
Some of the major players operating in the global market include Evergreen Products, Paula Young, HairUWear, Aderans Company Limited, Donna Bella Hair, Longlocks, Ruimei Hair Products., Godrej Consumer Products, ALERIANA Wigs, Klix Hair Extensions, Indique Hair, Shake-N-Go, among others.
Recent Developments
In June 2022, WAEVE, a platform founded by three college friends, offers high-quality predominantly for black people. The team declared to launch a set of 6 different types of wigs four times a year and plans to donate 2% of its revenue to charitable organizations. Along with purchasing a wig, consumers will receive a starter kit, including scissors, tweezers for plucking the hairline, a silicone grip, and four wig caps in 2 different shades.
Hair wigs and extensions Market Report Scope
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Report Attributes |
Details |
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Market size value in 2022 |
USD 6.56 billion |
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Revenue forecast in 2030 |
USD 11.8 billion |
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CAGR |
7.63% from 2022 - 2030 |
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Base year |
2021 |
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Historical data |
2018 - 2020 |
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Forecast period |
2022 - 2030 |
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Quantitative units |
Revenue in USD billion and CAGR from 2022 to 2030 |
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Segments Covered |
By Product, By Hair Type, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key Companies |
Evergreen Products Group Ltd., Paula Young, HairUWear, Aderans Co., Ltd., Donna Bella Hair, F.N. Longlocks, Ruimei Hair Products Co. Ltd., ALERIANA Wigs, Klix Hair Extensions, Indique Hair, and Shake-N-Go, Inc. among others |
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