NEW
YORK, July 15, 2024 /PRNewswire/ -- The global
hair wigs and extension market size is estimated to grow by
USD 7.06 billion from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of 10.15% during the forecast period. Technological
advances in production and design of synthetic hair wigs is
driving market growth, with a trend towards growing
prominence of celebrity and social media influencers.
However, high labor costs associated with handwoven wigs
poses a challenge. Key market players include Aderans Co.
Ltd., Artnature Inc., Cha Cha Hair Products Ltd., Diva Divine Hair
Extensions and Wigs, Donna Bella OpCo LLC, Evergreen Products Group
Ltd., F.N. Longlocks, Godrej and Boyce Manufacturing Co. Ltd.,
Great Lengths Universal Hair Extensions Srl, Hair Visions
International, Hairdreams Haarhandels GmbH, Hairlocs, India Hair
International, Indique Hair LLC, Klix Hair Inc., Locks and Bonds,
Racoon International Ltd., SalonLabs Exports India Pvt. Ltd., Shake
N Go Inc., and Shandong Elite Hair Products Co. Ltd..
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Hair Wigs and
Extension Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
10.15%
|
Market growth
2024-2028
|
USD 7061.2
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
8.97
|
Regional
analysis
|
APAC, North America,
Middle East and Africa, Europe, and South America
|
Performing market
contribution
|
APAC at 46%
|
Key
countries
|
US, Japan, China,
Canada, and South Korea
|
Key companies
profiled
|
Aderans Co. Ltd.,
Artnature Inc., Cha Cha Hair Products Ltd., Diva Divine Hair
Extensions and Wigs, Donna Bella OpCo LLC, Evergreen Products Group
Ltd., F.N. Longlocks, Godrej and Boyce Manufacturing Co. Ltd.,
Great Lengths Universal Hair Extensions Srl, Hair Visions
International, Hairdreams Haarhandels GmbH, Hairlocs, India Hair
International, Indique Hair LLC, Klix Hair Inc., Locks and Bonds,
Racoon International Ltd., SalonLabs Exports India Pvt. Ltd., Shake
N Go Inc., and Shandong Elite Hair Products Co. Ltd.
|
Market Driver
The global hair wigs and extension market is experiencing
significant growth due to the increasing popularity of digital
media as a marketing channel. In developed countries like the US,
hair goods manufacturers are investing in social media campaigns to
reach a wider audience. The influence of celebrities and social
media personalities on consumers is driving brand exposure through
events such as fashion weeks. Micro-influencers are becoming the
preferred promotional platform due to their engaged fanbase,
authenticity, and lower cost. The trend of wearing hair wigs by
celebrities like Kylie Jenner,
Kim Kardashian, and Ariana Grande is expected to extend to emerging
markets like India and
China, boosting market
growth.
The hair wigs and extensions market is witnessing significant
growth due to increasing trends among individuals experiencing hair
loss or seeking diverse hairstyles and textures. Social media
platforms and influencers play a crucial role in driving demand for
wigs and extensions, with celebrities setting new trends. The
market caters to individuals of all genders and ages, including
those dealing with hair-related conditions like Alopecia and hair
thinning. The market offers various types, including full wigs,
partial wigs, pre-bonded extensions, and weft extensions, made from
human hair, synthetic hair, Remy hair, and Non-Remy hair.
Durability and maintenance requirements vary between types. Topical
treatments and surgical interventions are alternative solutions,
but wigs and extensions offer immediate results and self-expression
opportunities. The retail sector and entertainment industry
significantly contribute to the market's growth. Customer
satisfaction is a top priority, with community interaction and
digital exposure playing essential roles. The diverse offerings
cater to individual consumers, with wigs and extensions available
for men, women, and children, enhancing their personal well-being
and beauty.
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Market Challenges
• The handwoven
wig manufacturing industry in countries like the UK and the US has
faced a decline due to the scarcity of skilled labor and elevated
labor costs. Handwoven wigs, which are custom-made and hand-tied,
offer superior quality and closely mimic natural hair
characteristics. However, the production process for human hair
wigs is labor-intensive, involving the preparation of raw hair,
sorting, and cleaning. In contrast, synthetic lace front wigs,
which are partially hand-tied and predominantly machine-made,
require less production time. Despite this, producing a synthetic
full lace wig still takes significant time, ranging from 40 to 120
working hours based on complexity. Density also influences
production time, with higher densities requiring more knots on the
lace cap. Consequently, the high labor costs associated with
handwoven wigs are anticipated to hinder the expansion of the
global hair wigs and extensions market.
• The Hair Wigs
and Extensions market faces several challenges. Durability is a key
concern, as both wigs and extensions require regular maintenance
and may need topical treatments or surgical interventions to
maintain their appearance. Customer satisfaction is paramount, with
individual consumers, men, women, and children seeking high-quality
products for personal well-being and beauty enhancement. Hair Type
is a significant factor, with human hair and synthetic hair each
having its advantages and disadvantages. Human hair wigs, such as
full and partial wigs, come in various types like Remy and
Non-Remy, while extensions include pre-bonded and weft. Alopecia
and hair thinning, including Androgenetic alopecia, are common
reasons for using wigs and extensions. The market caters to various
demographics, including the entertainment industry, retail stores,
and individual consumers. Black people often have unique needs, and
specialized tools like scissors, tweezers, and wig caps with
silicone grips are essential for proper installation and care.
Overall, the Wigs segment and Hair Extensions market must address
these challenges to meet the evolving demands of diverse customer
bases.
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challenges - Request a sample report!
Segment Overview
This hair wigs and extension market report extensively covers
market segmentation by
- Distribution Channel
- Product
- 2.1 Human hair wigs and extension
- 2.2 Synthetic hair wigs and extension
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Middle East and
Africa
- 3.4 Europe
- 3.5 South America
1.1 Offline- The Hair Wigs and Extensions market
encompasses various distribution channels, including specialty
stores, hypermarkets, supermarkets, convenience stores, clubhouse
stores, and others. Hypermarkets, such as Walmart and Target, are
significant players in this market due to their expanding business
operations. Salons and spas are gaining popularity among consumers
for their rejuvenation treatments and grooming services. The trend
of hair styling among men and women continues to fuel market
growth. Specialty stores, like Sephora, offer a wide selection of
hair wigs and extensions, making them preferred retail outlets for
consumers and professionals. Vendors are adopting the
online-to-offline (O2O) business strategy to boost sales through
offline channels while enhancing their digital presence. The O2O
channel provides benefits such as in-store pickup, online purchases
at physical stores, and product returns, enabling vendors to expand
their consumer base and increase market share. These factors are
expected to propel the growth of the global Hair Wigs and
Extensions market during the forecast period. (Word count: 97)
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
Learn and explore more about Technavio's in-depth research
reports
The global hair care market is experiencing significant growth,
driven by increasing consumer awareness about hair health and the
rising demand for premium products. The hair products market,
encompassing shampoos, conditioners, and styling products, is
expanding due to innovative formulations and eco-friendly options.
Additionally, the global hair masks market is booming as consumers
seek deep conditioning and restorative treatments. Key players are
focusing on natural ingredients and advanced technologies to meet
diverse consumer needs, ensuring continued market growth and
dynamic product evolution in these sectors.
Research Analysis
The hair wigs and extensions market caters to individuals
experiencing hair loss or seeking new styles, textures, and colors
for personal expression. Hair wigs are popular solutions for those
dealing with conditions like Alopecia, hair thinning, and
Androgenetic alopecia. The market offers a wide range of options
for men, women, and children, with various textures, colors, and
styles available. Social media platforms and influencers have
significantly influenced the market's growth, making it more
accessible and trendy. The entertainment industry and retail stores
are significant contributors to the market's demand. The wigs
segment includes synthetic and human hair wigs, while hair
extensions come in various types like clip-ins, sew-ins, and
tape-ins. Black people have a significant presence in the market
due to cultural and fashion reasons. Accessories like scissors,
tweezers, silicone grips, and wig caps are essential tools for
maintaining and styling wigs and extensions.
Market Research Overview
The Hair Wigs and Extensions market caters to individuals
experiencing hair loss or seeking new styles, textures, and colors
for self-expression and experimentation. Social media platforms,
influencers, and celebrities play a significant role in digital
exposure and popularizing diverse hairstyles. The market offers
various options, including wigs, extensions, full wigs, partial
wigs, pre-bonded extensions, and weft extensions, in Human hair,
Synthetic hair, Remy hair, and Non-Remy hair. Individuals,
including men, women, and children, benefit from this market for
personal well-being and beauty enhancement. Hair-related conditions
like Alopecia, hair thinning, and Androgenetic alopecia drive
demand. Retail stores and the Entertainment industry are key
sectors. Hair donors provide durability, while maintenance
requirements, topical treatments, and surgical interventions ensure
customer satisfaction. Accessories like scissors, tweezers,
silicone grips, and wig caps complete the market landscape.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Distribution Channel
-
- Product
-
- Human Hair Wigs And Extension
- Synthetic Hair Wigs And Extension
- Geography
-
- APAC
- North America
- Middle East And Africa
- Europe
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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