This market research report on global hair wigs and extension market offers analysis on market size & forecast, market share, industry trends, growth drivers, and vendor analysis. The market study also includes insights on segmentation by type (wig and extension), by material (human hair and synthetic hair), and by geography (North America, Europe, APAC, and ROW).
The growing incidences of thinning of hair, pattern baldness, bald spots, and hair loss in the hairline is driving the demand in the global hair wigs and extension market. The use of hair extensions for marriage or stage functions and to fulfill a more functional purpose such as covering the deficiency in the real hair will boost the sales of these products in the global market. The growing number of consumers using multi-colored and themed wigs that are worn on events like Halloween and cosplays will help generate higher revenues in the market. The different shapes available include braids, buns, and bangs and the vendors are using both human or synthetic hair strands in a pattern of hair locks, wefts, and streaks to draw the maximum number of consumers in the global market. The natural hair for these products is sourced from countries such as India, China, Russia, and Peru. The increasing number of people suffering from various degree and types of alopecia or hair loss is the largest consumer of these products in the global market. The manufacturers in the US source processed and treated hair from vendors in China, India, Myanmar, and Bangladesh. The US is the largest revenue generator in the market, followed closely by APAC. The extensive use of these products to change looks and styles quickly and with ease is driving the growth of the global hair wigs and extension market.
The growing demand for high-end human-hair extensions and ultra-high-quality synthetic wigs across the European region will create new opportunities for leading manufacturers in the global market. The increase in per capita income and spending power among consumers will boost the revenues in the market. The global hair wigs and extension market is estimated to reach revenues of more than $10 billion by 2023, growing at a CAGR of approximately 9% during 2017-2023.
Global Hair Wigs and Extension Market at a Glance
The rising number of middle-class populations that are emerging as the next potential customers for the beauty industry is driving the growth of the global hair wigs and extension market. The consumers are focused on proactively researching and asking for branded products including skin care cosmetics and hair care products. The significant changes in the income and expenditure levels that are affecting spending priorities, values, and attitudes will boost the revenues in the global market. The increasing in middle-class spending in China and India is boosting the sales of these products in the market. The surge in middle-class median income, their expenditure trend, shopping mode, and demand for premium hair brands will contribute to the extensive retail sales in these regions in the global market. Various established businesses and startups are investing in setting up manufacturing plants, augmenting the development of the global hair wigs and extension market.
This market research report includes a detailed segmentation of the market by type, material, and geography.
Segmentation of Global Hair Wigs and Extension Market
Versatility in styling, texture, and luster of hair extensions drives the global hair wigs and extension market
The global hair wigs and extension market by type is classified into wigs (leisure, beautification, functional, lace, monofilament, human hair, and synthetic hair) and extensions (lengthening and volumizing, coloring, styling, clip-in, micro link, tape-in, glue-in, human hair, and synthetic hair). Extensions segment dominated the largest market share in 2017, growing at a CAGR of more than 9% during the forecast period. The extensive use of these products for grooming and functional purposes that also help increase the length and volume of the hair is one of the primary factors attributing to the growth of this segment in the global market. The different types of hair extensions available include clip-in, micro link, cold or hot fusion, and tape-in, thereby, driving the demand for these products in the global hair wigs and extension market. The growing number of celebrities and models including Kim Kardashian, Beyoncé, Brittney Spears, Kylie Jenner, and Rihanna speaking about using these products will have a positive impact on this market segment during the forecast period.
The popularity of Peruvian hair products to boost sales in the global hair wigs and extension market during the forecast period
The material segment in the global hair wigs and extension market is divided into human hair and synthetic hair. Human hair segment occupied the majority market share in 2017, growing at a CAGR of around 9% during the forecast period. The increasing use of natural hair wigs by army and state officers in western countries including the US, UK, and Europe is driving the growth of this segment in the global market. The hair collected from different locations are washed, sterilized, detangled, and arranged in strands of hair based on color and texture to process and transfer to manufacturers process the products. Leading manufacturers in the global market are primarily from the US, China, and Myanmar. The different types of hair categorized according to the quality is divided into virgin hair, remy hair, and non-remy hair in the global hair wigs and extension market. The introduction of hair from Peru, Russia, and Brazil is gaining popularity in the global market and creating lucrative opportunities for leading vendors. The growing demand for superior quality human hair products across regions in the market will boost sales over the next few years.
Increasing the number of hair salon and beauty centers in North America will attribute to the revenues in the global hair wigs and extension market
The global hair wigs and extension market by geography is segmented into North America, Europe, APAC, and ROW. North America dominated the market share in 2017, growing at a CAGR of more than 12% during the forecast period. The growing popularity of hair stylists and style recommendations is contributing to the growth of North America in the global market. Several companies and manufacturers are partnering with saloon and hair stylists to provide the required products and reach a large number of consumers in the market. The analysts at Arizton estimates that consumers within the 35 to 44 age bracket account for 28% of revenues in the global hair wigs and extension market. The growing demand for afro-texture wigs is gaining immense popularity in the North American market. The growing number of social media users on platforms such as Facebook, Instagram, and Snapchat will help boost the demand and revenues in the North American market.
The key countries profiled in the report are:
The global hair wigs and extension market is witnessing intense competition from various players trying to offer diverse products. The focus on product innovations will help vendors attract new consumers and gain a larger market share. The changes in consumer preferences and rapid advancement in technologies to produce make better synthetic hair will create lucrative opportunities leading manufacturers in the global market. The rising number of Indian players operating with clients in regions such as the US, UK, and Africa will contribute demand in the global hair wigs and extension market. The gradual shift to African regions and business expansion to other regions will drive the growth of the global market.
The major vendors in the global market are:
Evergreen Products Group Limited
Other prominent vendors include Indique, India Hair International (IHI), Indo Hair, FN LONGLOCKS, Diamond Hair Company, Charm Hair, AY Hair Products, Diva Divine India, Aderans, Artnature, Hair Zone, Inc., Shake-n-Go (SNG) Fashion, Rebecca, and Anhui Jinruixiang Hair Product Co. Ltd.
The analysis of global hair wigs and extension market provides market size and growth rate for the forecast period 2018-2023.
It offers comprehensive insights into current industry trends, trend forecast, and growth drivers about the global hair wigs and extension market.
The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.
It offers a complete overview of market segments and the regional outlook of global hair wigs and extension market.
The report offers a detailed overview of the vendor landscape, competitive analysis, and key market strategies to gain competitive advantage.
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