Asia-Pacific Hair Extension & Wigs Market Outlook, 2028

Asia-Pacific Hair Extension & Wigs Market Outlook, 2028

The beauty standards in Asia-Pacific have been evolving rapidly over the years, leading to an increased demand for hair extensions and wigs. In many countries in the region, long and voluminous hair is considered a sign of beauty, and hair extensions and wigs provide an easy way for people to achieve the desired look. The younger generations in Asia-Pacific are becoming more fashion conscious, and hair extensions and wigs are increasingly being used as fashion accessories. With the rise of social media, people are exposed to different fashion trends from around the world, which has contributed to the growing demand for hair extensions and wigs. As economies in Asia-Pacific continue to grow, disposable income has also increased, leading to an increase in spending on beauty and personal care products, including hair extensions and wigs. In addition to that, advances in technology have made it possible to produce high-quality, natural-looking hair extensions and wigs that are comfortable to wear and easy to maintain. This has increased the appeal of hair extensions and wigs among a wider audience, including those who may have been hesitant to try them in the past. The increase in the number of working women, the rising number of internet users, and mounting expenses on grooming products will further boost the growth of the hair wigs and extension market in the region during the forecast period.

According to the research report, ""Asia-Pacific Hair Extensions & Wigs Market Outlook, 2028,"" published by Bonafide Research, the market is projected to grow at an 8.69% CAGR from 2023 to 2028. The rapid growth of the region is due to the increasing adoption of hair goods among consumers as fashion accessories. Hair goods were primarily used for functional purposes in the region; however, the region's current fashion trends have influenced the region's youth and millennials to try out such products. Furthermore, factors such as changing lifestyles, evolving technology for producing such goods, and rising consumer purchasing power are expected to drive the region's growth. Also, the region is the largest supplier of human hair that is used in the manufacture of wigs and extensions. Moreover, with the largest population in the world, APAC sources enough hair to maintain its position among global hair suppliers. Because of the rising demand for hair products in APAC, manufacturers are establishing production facilities in Asian countries, primarily China and India, and offering hair wigs and extensions at lower prices than in international markets. Japan and China are two of the key markets for the export of hair wigs and extensions across the world. Furthermore, medical patients who undergo chemotherapy suffer from an ample amount of hair loss, which is expected to boost the demand for hair growth and extension in the region. Consumer spending on hair wigs has increased dramatically in recent years in countries such as China and India.

China is the largest manufacturing and supply hub for this industry, while India is known for the quality and texture of its hair wigs. Technological advancement has significantly improved the quality of synthetic hair, which is expected to increase demand. Emerging R&D in fibre technology allows consumers to style wigs according to the wearer's preferences while also enduring damage from styling and curling tools. While natural hair is still preferred over synthetic hair, human hair products are more expensive than synthetic hair wigs. Lower prices and improved capabilities for synthetic hair wigs have boosted sales, making this segment more profitable in the near future. Human hair wigs and extensions are very popular because they look like natural hair and have better product quality and longevity than synthetic wigs and extensions. Furthermore, hair from donors in these countries' rural areas is in high demand because the hair obtained is of high quality and has been largely unaffected by harsh chemicals and colours. During the forecast period, segment growth will be driven by rising demand.

Furthermore, rising disposable income per capita has increased discretionary spending, which is good news for both wig and extension companies. Another major factor that is likely to influence market growth is an increase in hair loss rates around the world, as well as the popularity of personal grooming and beauty products. Thus, these are factors that drive the growth of the global hair wigs and extensions market in this region. India is a significant market for hair extensions and wigs in Asia-Pacific, with a growing demand for natural human hair extensions. The country has a large population of hair donors, which makes it an attractive destination for hair extension manufacturers looking for high-quality raw materials. Japan has a unique hair extension and wig market, with a focus on high-quality, natural-looking products that are designed to blend seamlessly with natural hair. Japanese manufacturers are known for their attention to detail and use of advanced technology in hair extension and wig production. South Korea is a major player in the hair extension and wig market in Asia-Pacific, with a focus on eco-friendly products and innovative production methods. Many Korean hair extension manufacturers are known for their use of recycled materials and sustainable production practises.

Hair extensions and wigs are also being used for medical reasons, such as hair loss due to chemotherapy or alopecia. This has increased the demand for high-quality, natural-looking hair extensions and wigs that can provide a sense of confidence and self-esteem to those who may be experiencing hair loss. The demand for hair extensions and wigs is particularly high in Southeast Asia, with countries such as Indonesia, Thailand, and Vietnam experiencing significant growth in this market. The popularity of hair extensions and wigs in Asia-Pacific has led to the development of a thriving trade in human hair. Many hair extension manufacturers source their raw materials from countries such as India, China, and Vietnam, where there is a large supply of human hair. The COVID-19 pandemic has had a significant impact on the hair extension and wig market in Asia-Pacific, with many manufacturers experiencing disruptions to their supply chains and a decline in demand due to salon closures and reduced social gatherings. However, as the pandemic situation improves and economies reopen, the market is expected to recover. The hair extension and wig market in Asia-Pacific is highly competitive, with many local and international players vying for market share. Key players in the market include manufacturers such as Godrej Consumer Products, Rebecca Fashion, and Henan Rebecca Hair Products, as well as online retailers such as AliExpress and Amazon.

Hair extensions and wigs are sold in a variety of ways in the Asia-Pacific region, depending on the market and the type of product. According to the research report, the market is segmented into online and offline distribution channels. Among them, the offline segment will lead the market in 2022 with over 70% market share. In many parts of Asia-Pacific, hair extensions and wigs are sold in physical stores such as beauty supply shops, department stores, and specialty wig shops. Customers can browse products in-store and receive advice and recommendations from sales staff. In some markets, hair extensions and wigs are sold directly through hair salons. Customers can consult with stylists to choose the best product for their needs and may also receive installation and styling services. Some companies in the Asia-Pacific region use a direct sales model, where representatives host home parties to demonstrate and sell hair extensions and wigs. Customers can try on products in a relaxed setting and receive personalised advice and recommendations from the representative.

However, the rise of e-commerce has had a significant impact on the hair extension and wig market in Asia-Pacific, with many consumers now shopping for these products online. This has led to the growth of online hair extension and wig retailers, as well as increased competition among manufacturers to offer high-quality products at competitive prices. Online marketplaces such as Alibaba, Amazon, and Lazada are popular channels for selling hair extensions and wigs in the Asia-Pacific region. These platforms offer a wide range of products from multiple sellers, and customers can compare prices and read reviews before making a purchase. Social media platforms such as Instagram and Facebook are increasingly being used as sales channels for hair extensions and wigs. Many small businesses and independent sellers use social media to promote their products and reach a wider audience. Rebecca, SNG, Artnature, Aderans, and Ruimei's online presence is expanding their global footprint.

Recent Developments:
• LAKA, a Korean-based hair extension company, has launched a new range of eco-friendly hair extensions made from recycled materials. The company is using proprietary technology to create hair extensions that are both environmentally friendly and affordable, with the aim of reducing the environmental impact of hair extensions.
• Alibaba Group's B2B platform, Alibaba.com, has launched a new category for hair extensions and wigs to cater to the growing demand in the Asia-Pacific region. The platform is partnering with leading hair extension and wig suppliers to offer a wide range of products to customers across the region.
• Tokyo-based hair extension company, PRAVANA, has expanded its product line to include a new range of hair extensions that use a special tape-in system. The company is targeting the Asian market with these new products, which are designed to be more comfortable and less damaging to natural hair than traditional clip-in extensions.
• Indian hair extension company Tirumala Hair has invested in a new production facility in Chennai to expand its manufacturing capacity. The new facility is expected to produce over 1,000 kg of high-quality human hair extensions and wigs per month, helping the company meet the growing demand in the Asia-Pacific region.
• Chinese e-commerce giant, JD.com, has partnered with L'Oreal to launch a new online store for hair extensions and wigs in China. The store offers a wide range of products from leading hair extension and wig brands and is aimed at meeting the growing demand for hair extensions and wigs in China.

Companies Mentioned in this Report:
Great Lengths GmbH, Hena Rebca Hair Products Co., Ltd., Hair Dreams GmbH, Artnature inc., Aderans Co., Ltd, HairOriginals, Indique Hair LLC., UniWigs LLC, Diva Divine India, Nish Hair

Considered in this report
• Geography: Asia-Pacific
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report
• Asia-Pacific Hair Extension and Wigs market with its value and forecast along with its segments
• Country-wise Hair Extension and Wigs market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Countries covered in the report:
• China
• Japan
• India
• Australia
• South Korea

By Product Type:
• Extensions
• Wigs
• Toupee

By Hair Type:
• Human Hair
• Synthetic

By End User:
• Individual Consumers
• Entertainment & Fashion Industry

By Distribution Channel:
• Online
• Offline

By Gender:
• Men
• Women

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Hair Extension and Wigs industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.