Product Code: GVR-4-68039-976-1
Hair Wigs And Extensions Market Growth & Trends:
The global hair wigs and extensions market size is expected to reach USD 12.27 billion by 2030, expanding at 8.4% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc.. Increasing fashion consciousness, rising prevalence of hair loss, adoption of new technologies for enhanced product quality, and expanding e-commerce platforms facilitating global access are the major factors propelling market growth.
The online and e-commerce channel is most likely to outperform the offline distribution channels over the forecast period, with an increasing number of market players marking their presence online. The emergence of various e-commerce websites, such as Amazon, eBay, Sally Beauty, UNice, Luxy Hair, and Bellami Hair, is expected to act as a growth driver for the hair wigs & extensions market in the near future. The ease of ordering products through e-commerce websites and company portals has led manufacturers to sell their products exclusively through online channels.
The American Hair Loss Association states that androgenetic alopecia causes 95% of hair loss in men. Additionally, androgenetic alopecia affects approximately 50% of men and women, according to global research conducted by the National Centre for Biotechnology Information in November 2021. As people experience hair loss, they often seek solutions to mitigate its effects on their appearance and self-esteem. This growing concern about hair loss has led to an increased demand for hair wigs and extensions, which offer individuals an accessible and effective way to address hair-related issues and regain confidence.
Consumers value the capacity to tailor wigs and extensions according to their distinct preferences, including hair color, length, density, and cap design. Some manufacturers even offer online customization tools, enabling customers to craft their desired wigs by selecting hair length, style, and color. This personalized approach, exemplified by UPGRADE Inc., streamlines the process through an e-commerce platform that facilitates collaboration between customers and verified stylists, ensuring the fulfillment of unique wig requirements.
Furthermore, this growing demand for hair wigs and extensions is paralleled by collaborative efforts and government initiatives that strive to offer culturally sensitive and respectful options for cancer patients. For instance, the National Health Service (NHS) Trust has taken a proactive step by joining forces with a community hair salon to provide custom wigs tailored to cancer patients from diverse ethnic backgrounds. The impetus for this collaboration was rooted in patient feedback conveyed through the NUH's BAME Shared Governance group. This feedback underscored the significance of addressing the sense of indignity experienced by certain patients who, post-chemotherapy, had to wear generic blue wigs when leaving the hospital.
Hair Wigs And Extensions Market Report Highlights:
- The demand for extensions is forecasted to expand at the fastest CAGR in the forecast period. Extensions offer the ability to add length, volume, and even different hair textures, catering to a wide range of customer preferences, which aligns with evolving fashion trends and a desire for customizable looks. As consumers seek quick transformations, extensions provide a non-permanent solution that complements their changing styles
- Human hair extensions and wigs dominated the global market demand in 2022. This is due to their natural appearance, superior quality, and adaptability to various styling techniques. Human hair extensions and wigs offer a remarkably authentic look and feel, closely resembling natural hair. This appeals to consumers seeking a seamless integration with their own hair, contributing to their widespread popularity
- North America was the biggest contributor to the market in 2022. The region's influence on global beauty and fashion trends has driven demand for hair wigs and extensions, as well as fostering a competitive environment that encourages innovation and product development, solidifying North America's leading position in the market
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Sources & Third-Party Perspectives
- 1.3.4. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation & Data Visualization
- 1.6. Data Validation & Publishing
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segmental Outlook
- 2.3. Regional Outlook
Chapter 3. Hair Wigs and Extensions Market Variables & Trends
- 3.1. Market Lineage Outlook
- 3.2. Industry Value Chain Analysis
- 3.2.1. Sales/Retail Channel Analysis
- 3.2.2. Profit Margin Analysis
- 3.3. Market Dynamics
- 3.3.1. Market Driver Analysis
- 3.3.2. Market Restraint Analysis
- 3.3.3. Industry Challenges
- 3.3.4. Industry Opportunities
- 3.4. Industry Analysis Tools
- 3.4.1. Industry Analysis - Porter's Five Forces
- 3.4.1.1. Supplier Power
- 3.4.1.2. Buyer Power
- 3.4.1.3. Substitution Threat
- 3.4.1.4. Threat from New Entrant
- 3.4.1.5. Competitive Rivalry
- 3.5. Market Entry Strategies
Chapter 4. Consumer Behavior Analysis
- 4.1. Demographic Analysis
- 4.2. Consumer Trends and Preferences
- 4.3. Factors Affecting Buying Decision
- 4.4. Consumer Product Adoption
- 4.5. Consumer Analysis (Caucasian Ethnicity)
- 4.6. Observations & Recommendations
Chapter 5. Hair Wigs and Extensions Market: Product Analysis & Estimates
- 5.1. Product Movement Analysis & Market Share, 2022 & 2030
- 5.2. Hair Wigs and Extensions Market Estimates & Forecast, By Product (USD Million)
- 5.2.1. Wigs
- 5.2.2. Extensions
Chapter 6. Hair Wigs and Extensions Market: Hair Type Analysis & Estimates
- 6.1. Hair Type Movement Analysis & Market Share, 2022 & 2030
- 6.2. Hair Wigs and Extensions Market Estimates & Forecast, By Hair Type (USD Million)
- 6.2.1. Human Hair
- 6.2.2. Synthetic Hair
Chapter 7. Hair Wigs and Extensions Market: Regional Estimates & Trend Analysis
- 7.1. Hair Wigs and Extensions Market: Regional Outlook
- 7.2. North America
- 7.2.1. North America hair wigs and extensions market estimates & forecast, 2017 - 2030 (USD Million)
- 7.2.2. U.S.
- 7.2.2.1. Key country dynamics
- 7.2.2.2. U.S. hair wigs and extensions market estimates & forecast, 2017 - 2030 (USD Million)
- 7.2.3. Canada
- 7.2.3.1. Key country dynamics
- 7.2.3.2. Canada hair wigs and extensions market estimates & forecast, 2017 - 2030 (USD Million)
- 7.2.4. Mexico
- 7.2.4.1. Key country dynamics
- 7.2.4.2. Canada hair wigs and extensions market estimates & forecast, 2017 - 2030 (USD Million)
- 7.3. Europe
- 7.3.1. Europe hair wigs and extensions market estimates & forecast, 2017 - 2030 (USD Million)
- 7.3.2. U.K.
- 7.3.2.1. Key country dynamics
- 7.3.2.2. U.K. hair wigs and extensions market estimates & forecast, 2017 - 2030 (USD Million)
- 7.3.3. Germany
- 7.3.3.1. Key country dynamics
- 7.3.3.2. Germany hair wigs and extensions market estimates & forecast, 2017 - 2030 (USD Million)
- 7.3.4. France
- 7.3.4.1. Key country dynamics
- 7.3.4.2. France hair wigs and extensions market estimates & forecast, 2017 - 2030 (USD Million)
- 7.3.5. Italy
- 7.3.5.1. Key country dynamics
- 7.3.5.2. Italy hair wigs and extensions market estimates & forecast, 2017 - 2030 (USD Million)
- 7.3.6. Spain
- 7.3.6.1. Key country dynamics
- 7.3.6.2. Spain hair wigs and extensions market estimates & forecast, 2017 - 2030 (USD Million)
- 7.4. Asia Pacific
- 7.4.1. Asia Pacific hair wigs and extensions products market estimates & forecast, 2017 - 2030 (USD Million)
- 7.4.2. China
- 7.4.2.1. Key country dynamics
- 7.4.2.2. China hair wigs and extensions market estimates & forecast, 2017 - 2030 (USD Million)
- 7.4.3. India
- 7.4.3.1. Key country dynamics
- 7.4.3.2. India hair wigs and extensions market estimates & forecast, 2017 - 2030 (USD Million)
- 7.4.4. Japan
- 7.4.4.1. Key country dynamics
- 7.4.4.2. Japan hair wigs and extensions market estimates & forecast, 2017 - 2030 (USD Million)
- 7.4.5. South Korea
- 7.4.5.1. Key country dynamics
- 7.4.5.2. South Korea hair wigs and extensions market estimates & forecast, 2017 - 2030 (USD Million)
- 7.4.6. Indonesia
- 7.4.6.1. Key country dynamics
- 7.4.6.2. Indonesia hair wigs and extensions market estimates & forecast, 2017 - 2030 (USD Million)
- 7.5. Central & South America
- 7.5.1. Central & South America hair wigs and extensions market estimates & forecast, 2017 - 2030 (USD Million)
- 7.5.2. Brazil
- 7.5.2.1. Key country dynamics
- 7.5.2.2. Brazil hair wigs and extensions market estimates & forecast, 2017 - 2030 (USD Million)
- 7.6. Middle East & Africa
- 7.6.1. Middle East & Africa hair wigs and extensions market estimates & forecast, 2017 - 2030 (USD Million)
- 7.6.2. South Africa
- 7.6.2.1. Key country dynamics
- 7.6.2.2. South Africa hair wigs and extensions market estimates & forecast, 2017 - 2030 (USD Million)
Chapter 8. Hair Wigs And Extensions Market: Competitive Landscape
- 8.1. Recent Developments & Impact Analysis, By Key Market Participants
- 8.2. Company Categorization
- 8.3. Participant's Overview
- 8.4. Financial Performance
- 8.5. Product Benchmarking
- 8.6. Company Market Share Analysis, 2022 (Value % Share)
- 8.7. Company Heat Map Analysis
- 8.8. Strategy Mapping
- 8.8.1. Mergers & Acquisitions
- 8.8.2. Improving Operations
- 8.8.3. Philanthropy
- 8.8.4. Collaborations
- 8.8.5. Product Launches
- 8.8.6. Acquisitions
- 8.8.7. Portfolio Diversification
- 8.9. List of key companies analyzed in this section
- 8.9.1. Evergreen Products Group Limited
- 8.9.2. Godrej Consumer Products Ltd.
- 8.9.3. Artnature Inc.
- 8.9.4. Aderans Co., Ltd.
- 8.9.5. Donna Bella Hair
- 8.9.6. F.N. Longlocks
- 8.9.7. Aleriana SRL
- 8.9.8. Klix Hair Extensions
- 8.9.9. Indique Hair
- 8.9.10. Shake-N-Go, Inc.