U.S. Hair Wigs And Extensions Market - Focused Insights 2024-2029

INDUSTRY OUTLOOK

The U.S. hair wigs and extensions market was valued at USD 2.79 billion in 2023 and is expected to reach USD 6.34 billion by 2029, growing at a CAGR of 14.69%.

The U.S. hair wigs and extensions market is experiencing significant growth fueled by several factors. Rising hair loss rates have increased demand for natural-looking hair wigs and extensions. Additionally, the fashion industry's growing use of synthetic hair, driven by affordability and versatility, has contributed to overall market expansion.

The U.S. hair wigs and extensions market is experiencing robust growth, driven by various factors. Increasing hair loss rates among both male and female demographics and the fashion industry's growing reliance on synthetic hair have created a substantial demand for hair replacement and styling solutions. Additionally, the trend toward hair personalization among younger consumers is further propelling market expansion.

MARKET DEFINITION

Hair wigs and toupees are used to conceal pattern baldness, hair thinning, hair loss, and bald spots along the hairline. They cover the head partially or fully. Hair extensions are used for lengthening, volumizing, coloring, and styling applications. Hair wigs, extensions, and toupees are made up of human hair or synthetic hair. Celebrities, actors, models, fashion designers, and more are end-users in the entertainment & fashion industry. These products are available both online and in retail stores in the U.S. market. Rising direct-to-customer brands increase the affordability of products, and consumers are taking more interest in purchasing.

MARKET TRENDS & DRIVERS

Rising Trend of Halloween Parties

The U.S. hair wigs and extensions market is growing significantly due to the rising trend of Halloween parties, the growing popularity of new hairstyles, technological developments in the production and design of synthetic hair wigs, the rising demand for natural-looking wigs & extensions, the rising popularity of personalization, increasing use of wigs in the entertainment & fashion industry, rising demand for false hair as a beauty accessory, and increasing hair fall issues among men & women.

Rising Demand for Natural-Looking Wigs & Extensions

The demand for natural-looking hair wigs & extensions is growing significantly in the U.S. market due to several factors, including advancements in wig technology, diversification of hairstyles & textures, growing demand for customization, increasing emphasis on appearance, accessibility & affordability of wigs & extensions, fashion & self-expression, addressing hair loss concerns, protective styling for natural hair, etc. Technological advancements have increased the realistic appearance and quality of hair wigs & extensions. Using advanced materials and developing hair implantation techniques can fulfill an individual’s custom needs. Remy hair wigs have increased in the US market, driving the demand for natural-looking hair wigs & extensions during the forecast period.

INDUSTRY RESTRAINTS

Intense Competition Coupled With Pricing Pressure

The U.S. hair wigs & extensions market is highly saturated with the presence of numerous brands focusing on consumer attention. The availability of more options in the market drives the prices downwards. In this market, many consumers are price-sensitive, and many consumers are buying attractive products without compromising on quality. Price-sensitive customers intensify competition among brands. The globalization of manufacturing creates an opportunity for brands to source raw materials and produce hair wigs & extensions at lower costs. This reduction in costs contributes to a downward pressure on pricing. It may hinder the market growth in the US hair wigs & extensions market during the forecast period.

SEGMENTATION INSIGHTS

BY HAIR WIGS

The lace hair wigs market occupies more than 50% market share in the U.S hair wigs and extensions market. Using lace wigs, various styles, such as braids, twists, buns, and ponytails, are possible. With the rising popularity of various hairstyles, the demand for lace wigs will grow during the forecast period. The monofilament hair wigs are projected to witness significant growth. The demand for human hair wigs for functional purposes from both men and women is rising. Though they are the most expensive, their popularity is growing significantly. The demand for Remy and virgin hair wigs is rising in the US.

BY HAIR EXTENSIONS

The clip-in hair extension market is expected to witness the fastest growth during the forecast period. Clip-in hair extensions are more affordable than other hair extensions, making them more accessible to a wider range of consumers. The clip-in hair extensions market will remain the dominant shareholder, followed by micro-link hair extensions, tape-in, and glue-in types.

By end-use type the hair extensions demand will remain more for lengthening and volumizing. Arizton report forecasts a considerable growth in demand for hair extension in styling during 2024-2029

BY TOUPEE

The toupee product segment in the U.S. hair wigs and extensions market is witnessing significant growth with a CAGR of 15.60% during the forecast period compared to hair extensions. In the US, around 85 million men are affected by baldness, as per the American Hair Loss Association. Rising hair loss issues among men, due to various reasons, increase the demand for toupees across the US market. The popularity of custom-made toupees is rising in the US, as they can be designed to match the wearer’s hair texture, style, and color.

BY HAIR TYPE

In the US market, the demand for human hair-based wigs and extensions is rising due to their natural texture and appearance compared to synthetic hair. This gives a realistic look and attracts consumers who are willing to spend more on natural wigs and extensions.

In the U.S. hair wigs and extensions market, the demand for custom hair extensions is rising among consumers as per their needs and affordability. The synthetic hair segment is growing significantly due to factors such as synthetic hair's affordability, technology improvement, and the rising popularity of cosplay.

BY END-USER

The individual end-user segment of the U.S. market will significantly grow during the forecast period due to the growing trend of customizing wigs, the rising acceptance level of hair products, and the increasing demand for more attractive wigs and extensions.

BY DISTRIBUTION CHANNELS

Online stores have captured over 60% of the U.S. hair wigs and extension market share. Online retailers sell a wide range and versatile selection of hair wigs and extensions compared to retail stores. This selection helps consumers select products according to convenience, budget, and hairstyles. Due to the intense competition and pricing pressure, the consumer can get better deals on online platforms at affordable prices. The rise of direct-to-consumer brands in the US market helps to grow demand for hair wigs & extensions in the US market.

COMPETITIVE LANDSCAPE

All Virgin Hair, Beauty Forever Hair, Her Hair Company, Indique, Jon Renau, Nadula Hair, Superhairpieces, and UNice Hair are the leading players with strong market penetration. Vendors such as Cinderella Hair Extension, Evergreen Products Group, Great Lengths, HAIRLOCS, KLIX HAIR EXTENSIONS, LOCKS & BONDS, ONYC Hair, PAULA YOUNG, Shake-N-Go, Inc., and XUCHANG PENGHUI and many others are the prominent players in the market with a noteworthy presence. Companies in this market are innovating to develop better products. This includes new styling techniques, attachment methods, and hair fibers. With the rising competition among companies, the market is very price-competitive. This can lower consumer prices, and companies must face profit margin pressure.