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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.
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 driven by the rising interest for hair care products among men. The rapid urbanization and rising expendable livelihoods in rising economies such as India and China will boost sales in the global market. The market research report provides in-depth market analysis and segmental analysis of the global hair wigs and extension market by type, material, and geography.
The report considers the present scenario of global hair wigs and extension market and its market dynamics for the period 2018-2023. It covers a detailed overview of various market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyzes the leading companies and various other prominent companies operating in the global hair wigs and extension market.
Hair Wigs and Extension Market - Dynamics
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 urban population is the major driving force for the beauty industry and the primary end-user in the global hair wigs and extension market. The access to better amenities and superior infrastructure facilities are boosting the retail demand for beautiful looking hair and radiating skin in the global market. Celebrity fashion trends is another major catalyst to the growth and popularity of these products in the global market. The increasing efforts to improve physical appearances and a growing number of social media users will create lucrative opportunities for top players operating in the global market. The consumers in the developed market are buying wigs and extensions made of high-end human hair which are expensive than products made of synthetic hair in the market. The increase in income levels is enabling consumers to increase expenses on personal grooming and beauty products.
Hair Wigs and Extension Market - Segmentation
This market research report includes a detailed segmentation of the market by type, material, and geography. 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.
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.
Market Segmentation by Type
- Wigs
o Based on End-Use
? Leisure
? Beautification
? Functional
o Based on Cap Type
? Lace
? Monofilament
o Based on Hair Type
? Human Hair
? Synthetic Hair
- Extensions
o Based on End-Use
? Lengthening and Volumizing
? Coloring
? Styling
o Based on Fitting Type
? Clip-In
? Micro Link
? Tape-In
? Glue-In
o Based on Hair Type
? Human Hair
? Synthetic Hair
Market Segmentation by Material
- Human Hair
o Source Point
- Synthetic Hair
Hair Wigs and Extension Market - By Geography
The hair wigs and extension market by geography is divided 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. APAC dominated the second largest market share in 2017, growing at a CAGR of more than 5% during the forecast period. Rapid urbanization and increasing purchasing power across APAC are augmenting the growth of this region in the global market.
Market Segmentation by Geography
- North America
o US
o Canada
- Europe
o UK
- APAC
o China
o India
- ROW
Key Vendor Analysis
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 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:
- Godrej
- Great Lengths
- 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.
Key market insights include
1. The analysis of global hair wigs and extension market provides market size and growth rate for the forecast period 2018-2023.
2. It offers comprehensive insights into current industry trends, trend forecast, and growth drivers about the global hair wigs and extension market.
3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.
4. It offers a complete overview of market segments and the regional outlook of global hair wigs and extension market.
5. The report offers a detailed overview of the vendor landscape, competitive analysis, and key market strategies to gain competitive advantage.