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This research report on the global hair wigs and extensions market covers market sizing and forecast, market share, industry trends, growth drivers, and vendor analysis. The market study includes insights on segmentation by type (wigs and extensions), material (human hair and synthetic hair), end-user (entertainment & fashion industry and individual consumers), distribution channel(retail and online) and geography (APAC, Europe, Latin America, MEA, and North America).
Hair Wigs and Extensions Market: Dynamics
The increasing number of social media platforms is driving the sale of hair wigs and extensions to improve the appearance
The increasing popularity of Halloween, carnivals, theme parties, comic-con, and cosplays is driving the demand for synthetic and multi-colored hair wigs. During Halloween events and theme parties, consumers buy several types of wigs to dress up like fictional or mythological characters. The growing demand for special outfits for such occasions is driving the market for colorful wigs, which are made of synthetic hairs. Also, the increasing number of social media platforms and their growing user base is driving the sale of wigs and extensions to improve the appearance. Social media platforms are boosting the sale of hair wigs and extensions as these platforms allow users to post their images online to be viewed by a large user base. A large audience makes users conscious about new fashion trends, prompting consumers to use hair wigs and extensions.
The urge to improve the physical appearance is another major factor driving the hair wigs and extensions market worldwide. The rise in income levels has pushed people to increase spend on personal grooming and beauty products, which, in turn, is boosting the end-user confidence to invest in personal grooming, including hairs wigs and extensions. The hair care segment accounted for 18% of the total revenue of the global beauty market in 2017 and was the second-largest segment after skincare.
There is a visible shift in middle-class spending patterns, which is likely to affect the global hair wigs and extensions market. In China and India, the middle-class population accounts for a major share of the hair wigs and extensions market and is growing faster in the European and North American regions, where the population of the middle class has stagnated, but their median income has increased significantly. Therefore, with the rise in the disposable income in the middle-class population, their standard of living and shopping modes are rapidly changing, thereby affecting the grooming market. The global hair wigs and extensions market is expected to grow at a CAGR of over 8% during the period 2018–2024.
Hair Wigs and Extension Market: Segmentation
This market research report includes detailed market segmentation by Type, Material, End-user, Distribution Channel, and Geography.
Hair Wigs and Extensions Market: Types
The high acceptance of hair extensions among global celebrities and actors is a crucial driver for the segment
The global hair extensions market is expected to reach over $5 billion by 2024. The increasing acceptance of hair extensions among global celebrities and actors is a key driver for the growth of the segment. In terms of revenue, hair wigs have found the highest adoption in the entertainment and fashion industry. The adoption of wigs such as toupees and hairpieces, is growing among the male population to hide balding spots. Less affluent customers prefer synthetic hair extensions as they cost less than other extensions. However, styling limitations are decreasing their desirability among women.
The global hair wigs market is expected to witness an incremental growth of $1.7 billion by 2024. The growth in traction alopecia, especially in the African-originated population, is a major factor driving the wigs market. Although women majorly dominated the global market until 2015, the market is observing the entry of men, mainly from Europe and Africa. Further, the rise in hair falling incidence in the male population across the world is another crucial factor for the growing adoption of hair wigs such as toupees. Women generally use wigs to cover hair loss due to alopecia and exposure to radiation treatment and chemotherapy. Women also use wigs to change their hairstyle.
Hair Wigs and Extensions Market: Material
Cost-effectiveness is the major factor driving the growth of the synthetic hair segment
The price of hair wigs and extensions made from synthetic hair is less than human hair, hence increases the affordability among consumers. China is the leading manufacturer of human hairs wigs and extensions. The human hair wigs and extensions market is expected to grow due to the decrease in the cost of human hair. However, this is also beneficial for manufacturers as they can source human hair at better prices. Since the retail market for human hair products is relatively inelastic, the demand for wigs and extensions made of superior quality human hair remains high. The North America hair wigs and extension market is expected to reach over $2 billion by 2024. Cost-effectiveness is the major factor driving the growth of the synthetic hair segment. The segment is expected to grow at a moderate CAGR during the forecast period, which can be attributed to the fact that majority of new demand is coming from emerging countries, where end-users are willing to overlook the quality and manufacturing procedures due to budget constraints.
Hair Wigs and Extensions Market: Distribution Channel
Over 85% of synthetic hair wigs and extensions are manufactured in China, South Korea, Vietnam, and Indonesia
Hair wigs and extensions are mainly sold through online channels and retail distribution channels. The products are also available to end-users through online shopping websites as well as online direct-to-consumer stores. There is an emerging trend of promoting wigs and hair extensions on social media platforms. These platforms have also integrated shopping capabilities, which allow several influencers and hairstylists to sell wigs and extensions online. Over 85% of synthetic hair wigs and extensions, supplied across the world, are manufactured in China, South Korea, Vietnam, and Indonesia. Many companies have outsourced a part of their manufacturing operations to China. These vendors ensure that the manufacturing facilities are legitimate and follow good manufacturing practices to produce the best quality products. Vendors in countries such as the US and the UK primarily sell their products in dedicated and beauty stores, hypermarkets, and online general marketplace platforms. The sale of hair wigs and extensions through retail stores, hypermarkets, and fashion stores has always been the norm across the globe. Although the trend of selling online has been increasing in recent years, a significant share of hair wigs and extensions distribution takes place through specialty stores, hair salon and beauty stores, and hair clinics.
Hair Wigs and Extensions Market: End-user
The entertainment and fashion industry has become crucial for hair wigs and extensions products both in terms of revenue and adoption
The use of hair wigs and extensions has been prevalent among individual as well as entertainment and fashion industry consumers. The entertainment and fashion industry has become crucial for these products both in terms of revenue and adoption. Production and fashion houses require to stock several wigs for actors and models as they are performing different roles and characters. The acceptance of celebrities, models, and social media influencers openly using hair wigs and extensions has created a ripple effect among industries as well as individual consumers. Hence, new fashion trends in the industry are likely to boost revenues.
The individual consumer segment comprises retailers and hair salons. End-users buy wigs and extensions for their personal and day to day use. In regions such as Africa, Latin America, and several emerging countries, hair wigs account for a larger share than hair extensions. The rise in hair ailments among people is aiding the market to grow at a steady pace. The number of people suffering from hair loss at some level is increasing. With the growing number of people with hair loss and baldness, many people are choosing surgical or non-surgical options to regain hair.
Hair Wigs and Extensions Market: Geography
The growing middle-class population with high disposable incomes and refined fashion-consciousness is propelling the growth of the APAC market
The availability of high-quality wigs and toupees is encouraging consumers, especially males, across the world to try them as an alternative to surgical procedures for hair transplant. The global hair extensions market is expanding at an incredible rate due to the growing trend among consumers to imitate celebrity hairstyles. North America dominates the global hair wigs and extension market because the adoption of wigs and hair extensions is the highest in the US. US-based manufacturers have always witnessed the demand for human hair and synthetic fiber wigs and extensions. Historically, the demand was influenced by hair salons and beauty centers. However, the primary demand is currently driven by hairstylists’ recommendations. The growing collaboration between hair manufacturing companies and salons and hairstylists is a major factor influencing the hair wigs and extension market in North America.
Increased disposable incomes and high spend have increased the demand for high-end hair extensions. The US accounted for the largest share of the global haircare market in 2018. The demand for both hair wigs and extensions was similar from 2011 to 2014. However, since 2015, the consumer interest has shifted from hair extensions to hair wigs, with the market-driven mainly by the customers from African descent. The Canadian market is similar to the US hair wigs and extension market as the increase in wages is expected to fuel the demand for discretionary items, including hair wigs. However, the rise in the number of cancer-surviving patients is expected to push the market further.
The APAC region is the largest supplier of human hair for manufacturing wigs and extensions. The increasing demand for hair products in the APAC market is influencing manufacturers to establish production facilities in Asian countries, such as China and India. Low-priced wigs and extensions are developing a high demand among those customers that are exploring cost-effective options for surgical hair replacement procedures. The hair extension segment dominates the hair wigs and extension market in APAC. The growing middle-class population with high disposable income and high fashion-consciousness is propelling the growth of the APAC market. In terms of revenue, China is the largest hair wigs and extension market in the APAC region. The changing economic profile of Chinese households has played an important role in driving the market landscape and consumer preferences for beauty and hair products. Moreover, the per capita household disposable income of urban consumers in the country is likely to double by 2020.
Since the 1900s, Europe has witnessed a high demand for hair wigs. The European hair wigs and extensions market is largely made up of human hair. The high per capita income of European consumers allows them to spend on hair extensions and wigs produced from human hair. The use of hair wigs made from human hair is largely seen among consumers that buy them for medical and functional uses, such as concealing hair loss and visible scalp due to excessive hair thinning. European women constitute the largest segment for human hair wigs, which are mainly purchased and worn for appearance purposes. Further, most European consumers using human hair products prefer Remy hair because of their exclusivity and high value. The demand for synthetic wigs and extensions is also increasing among Jewish women because rabbis have prohibited the use of wigs and extensions made from human hair.
The penetration and adoption of hair wigs and extensions is relatively higher in Africa than the Middle East. As the demand increases in Africa, the number of start-ups manufacturing these hair substitutes has also increased in the region. A significant factor driving the sale and revenue in Africa is that these businesses are owned by natives, establishing a sense of trust that the products have been made to cater to African and African descent customers mainly. The strong demand for hair wigs and extensions by native Africans is primarily driven to conceal their inherent hair deficiencies. The use of wigs and extensions as fashion accessories has also grown in recent years, with the increase in disposable income, especially among women. However, a majority of African consumers prefer to buy human hair extensions or synthetic hair wigs of low- to medium-quality. The demand for hair extensions has grown significantly among African women of all economic classes, and they are splurging to get hair extensions, even if it means to push their budget.
The hair wigs and extensions market in Latin America largely rides on the hair care market. In terms of sales, the haircare market in Latin America is the second largest in the beauty and personal care market in the region. Brazil and Mexico have contrasting consumer behavior for hair care, especially among male consumers. In Mexico and Brazil, around 98% of the male consumers use shampoo but the rate of using conditioner varies by a great extent with 38% in Mexico compared to over 88% in Brazil. This represents that consumers in Mexico are more concerned about their appearance than the overall health of their hair. The market is witnessing a huge demand for Peruvian hair, which is sold at premium prices. In Latin America, the usage of hair wigs and extensions has been dominated by celebrities, TV anchors, and models. These personalities generally wear wigs or temporary hair extensions to enhance their professional appearance.
- South Korea
- South Africa
Key Vendor Analysis
The customer demand has steered the global hair wigs and extensions market. Manufacturers have been introducing new products according to the prevailing fashion trends. However, this has not been able to increase the demand for wigs and hair extensions among customers over time. The market demand is primarily driven by new trends showcased by celebrities on social media. Innovations have been limited to the classification of human hair as virgin and Remy, both of which are highly priced in the market. Market vendors compete for the following criteria:
- Quality of the hair and ethical sourcing
- Ability to develop better quality synthetic hair
- Accessibility of wigs and extensions
- Penetration in emerging markets
India is the largest supplier of human hair, and the business is highly concentrated on the supply side. Several companies that source hair from points such as temples, barbershops, and rural areas have been supplying hair to countries such as Myanmar, China, and Bangladesh. These companies then process, weave, pack, and sell the hair. Large market vendors in India are also supplying hair to regions such as the US, the UK, and Africa. Since 2008, the number of manufacturers has been increasing in India as there are low barriers to new entrants.
As of now, the global hair wigs and extensions market is dominated by domestic players, including small-scale proprietorship firms. Several local players are expected to expand their presence worldwide during the forecast period, especially in APAC and Latin America, which are the fast-developing economies. Besides, improving global economic conditions are likely to fuel the growth of the market, making it an attractive time for the launch of new products. An intensely competitive environment is expected to emerge during the forecast period because of the immensely growing popularity of hair wigs and extensions across the globe, thereby driving the demand for global hair wigs and extensions market.
Key Vendors in Global Hair Wigs and Extensions Market
- Evergreen Product Group
- Great Lengths
Other Prominent Vendors in Hair Wigs and Extensions Market
- Aleriana Wigs
- Anhui Jinruixiang Hair Product Co. Ltd.
- AY Hair
- Balmain Hair
- Bellami Hair
- Bloomsbury Wigs
- Charm Hair
- Diamond Hair Company
- Diva Divine India
- Donna Bella
- Easihair Pro
- FN LongLocks
- Glam Seamless
- Hair Zone
- Hair Life India
- Hair Visions International
- His & Her Hair Goods
- Human Hair Argentina
- India Hair International (IHI)
- Indo Hair
- Just Extensions
- Lush Wigs
- Omg Queen
- Remy New York
- Ruimei Hair Products
- Shake-n-Go (SNG) Fashion
- The Hair Shop
- True Indian Hair
- TSD Hair
- Wigs and Plus
- Woven Hair
- YH Hair
Key Market Insights
The analysis of the hair wigs and extensions market provides market sizing and growth opportunities for the forecast period 2019–2024.
- Offers market sizing and growth prospects of the hair wigs and extension market for the forecast period 2019–2024.
- Provides comprehensive insights on the latest industry trends, market forecast, and growth drivers in the hair wigs and extensions market.
- Includes a detailed analysis of market growth drivers, challenges, and investment opportunities.
- Delivers a complete overview of market segments and the regional outlook of the hair wigs and extensions market.
- Offers an exhaustive summary of the vendor landscape, competitive analysis, and key market strategies to gain a competitive advantage in the hair wigs and extensions market.
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