Global Hair Extension & Wigs Market Outlook, 2028

Global Hair Extension & Wigs Market Outlook, 2028

Hair wigs, extensions, and weaves are all examples of artificial hair integrations. Hair wigs are used to cover the entire head, disguise baldness, or transform the hairstyle and are available in the shape of a cap. Hair extensions are clipped, glued, or woven on the natural hair to change the hairstyle instantly, add length and volume, and are clipped, glued, or woven on the natural hair. The global hair wigs and extension market has been around for a long time and is expanding at a rapid pace. The market has flourished as new trends and fashions have evolved. Nowadays, hair loss caused by certain medical conditions and hormones causes’ complete or partial baldness, making people self-conscious about their appearance. As a result, the demand for hair extensions and wigs has skyrocketed. In the early 1990s, jute fibres were used to make imitation hair for theatrical wigs, but as trends changed, the raw material varieties expanded: animal hair, human hair, synthetic fibre, futura, virgin hair, or a blend of these materials. Hair extensions and wigs are no longer seen as something to be ashamed of or kept secret. Many celebrities and influencers openly wear hair extensions and wigs, which has helped to normalise their use and increase demand. Advances in technology have made it possible to create high-quality hair extensions and wigs that look and feel more natural than ever before. New production methods and materials have also made these products more affordable and accessible to a wider range of consumers.

According to the research report, ""Global Hair Extensions & Wigs Market Outlook, 2028,"" published by Bonafide Research, the market is anticipated to reach a size of over USD 14 billion by 2028, up from USD 8.82 billion in 2022. The market is expected to grow at an 8.90% CAGR between 2023 and 2028.The growing prevalence of hair-related problems, such as alopecia, across the globe is the key factor propelling industry growth. According to the findings, in 2020, over 70,000 people in the United States will have alopecia areata, out of which half are women. Increasing concerns among people about such diseases are supplementing the industry’s growth. The growing trend of youth and millennials using hair wigs and extensions to improve their aesthetic appearance is expected to fuel the industry's growth. Additionally, the growing influence of social media in promoting the use of wigs and extensions, as well as celebrity endorsements, is one of the key factors boosting industry growth. Today, the global grooming industry is experiencing unprecedented growth opportunities. Because of today's fast-paced lifestyle, the majority of people all over the world prefer to use convenient options when selecting grooming products. This factor is pushing the growth of the global hair wig and extension market. The market is expected to witness stupendous growth opportunities owing to the increasing demand for grooming products in emerging economies. Moreover, the growth in per capita disposable incomes has increased discretionary spending, which has boded well for wigs and hair extension manufacturers. Other major factors likely to influence market growth include an increase in global hair fall rates and the popularity of personal grooming and beauty products.

According to the report, the market is segmented into three product types, including extensions, wigs, and toupee. Wigs are the market leader in 2022, accounting for more than 45% of the market. The primary factor expected to contribute to the segment's growth is the widespread use of wigs. Wigs allow the user to achieve the desired look by styling it without damaging the natural hair while using chemicals and heat, which is increasing the use of wigs. Wigs are commonly used to cover up baldness or change the style of one's hair. Furthermore, wigs protect natural hair from damage caused by the use of heat and chemicals to style and achieve the desired look, resulting in increased use and thus contributing to overall revenue generation. China, Italy, Indonesia, and Germany have been the top exporters of human hair wigs, while Japan, the United Kingdom, the United States, Nigeria, France, and South Korea have been the top importers. The increasing use of wigs in the fashion and entertainment industries is an important trend in the industry, as the effect of celebrities openly wearing hair wigs represents an upturn among users to wear wigs for non-functional reasons. This recent interest in hair wigs also normalises their use and removes the stigma associated with wearing wigs. Adoption of hair wigs is also gaining traction on social media platforms such as Instagram, which is breaking down the traditional stigmas associated with wearing wigs in the beauty and fashion industries.

The hair extension segment is estimated to register a significant CAGR from 2023 to 2028. The growth of the segment is attributed to the increasing popularity and use of hair extensions by female consumers across the globe to increase the volume of their hair. Furthermore, the increased use of hair extensions is attributed to their availability in a variety of attaching techniques that cause less damage to the hair. Furthermore, the growing demand for high-quality hair extension products made from human hair is propelling this segment forward. An extension has recently gained popularity among women, resulting in a significant transformation supported by increased per capita expenditure on fashion accessories. Women with short hair frequently use extensions to make their hair appear longer. Because they come in a variety of colours, extensions are expected to grow quickly over the forecast period, whereas hair wigs are expected to grow steadily. Women are expected to have a CAGR of more than 60% between 2023 and 2028.

The global hair extension and wigs market is divided into five major regions: North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. Among them, North America accounted for the largest revenue share in 2022 and is estimated to grow at a considerable CAGR over the forecast period. Consumers in the region are increasingly using hair extensions and wigs as a fashion accessory, which is fuelling growth. North America is expected to see significant gains during the forecast period as people become more aware of medical conditions such as alopecia areata, trichotillomania, and others, resulting in a higher adoption rate for treatments such as prescription medications or surgeries. Furthermore, during the Halloween season, all age groups used the product as part of their costume. To gain a larger share of the industry, major players are pursuing various strategies, such as global expansion, partnerships, acquisitions and mergers, product development and launch, and others.

As the number of cancer patients requiring treatment for physical trauma rises, Europe is expected to see strong growth in the global hair wigs and hairpieces market. Changes in customer behaviour are predicted to have a favourable impact on the European hair extension market. Asia-Pacific is expected to be the most attractive region in terms of market size. Moreover, due to the increasing rise of e-commerce in the Asia Pacific region, the demand for hair extensions is likely to grow significantly during the forecast period. South America is expected to experience a healthy growth rate during the forecast period. However, the Middle East and Africa are also expected to witness a steady growth rate during the forecast period. Hair extension sales in the region are expected to rise significantly as consumer spending on grooming items rises.

With over USD 4.5 billion in revenue in 2022, the human hair segment dominated the global industry. The high penetration of hair wigs in regions such as North America and Europe, combined with rising demand among millennials, is driving segment growth. Human hair extensions and wigs are made from 100% natural human hair, which is collected from donors around the world. These products are the most expensive type of hair extensions and wigs, but they also offer the most natural look and feel. Various brands in these regions are providing these products through various offline and online distribution channels. These brands include Ellen Wille, Rene of Paris, Jon Renau Collection, and others. The type of hair used in hair extensions and wigs can have a significant impact on their quality, appearance, and price. On the other hand, synthetic hair extensions and wigs are more affordable, but they may not look as natural or last as long. Synthetic hair extensions and wigs are made from man-made fibres such as polyester, acrylic, and modacrylic. Furthermore, the growing use of wigs and hair extensions by the geriatric population to conceal alopecia is expected to boost industry growth. According to the World Health Organisation (WHO), the population of people aged 60 and up was 1.4 billion in 2020, and it is expected to double to 2.1 billion by 2050. Furthermore, key players are launching customised hair-related products that best meet consumers' needs. Hi-MO LLC, for example, provides customised products for each customer, such as hair wigs, hair colour, and hair care.

Based on the distribution channel, the market is categorised into two major channels, including online and offline. In 2022, the offline segment will command more than 70% of the market. Hair extensions and wigs are sold in a variety of places, including online retailers, specialty stores, beauty supply stores, salons and stylists, department stores, and even some drugstores. Beauty supply stores that cater to the hair and beauty industry often carry a wide selection of hair extensions and wigs. These stores may offer a variety of brands and styles at competitive prices, making them a popular choice for consumers on a budget. However, many salons and stylists sell hair extensions and wigs directly to their clients, either from their own stock or by ordering products from manufacturers. Salons and stylists can offer personalised recommendations and fittings, helping customers find the perfect product to meet their needs. Further, owing to the technology revolution across the globe, the online segment is expected to grow at a higher CAGR from 2023 to 2028. The online stores provide a variety of options from various manufacturing houses and resellers. Because of the ease of access and convenience of these channels, many avid users of e-tailing services seek to buy wigs or hair extensions online. Furthermore, vendors of online channels frequently use social media to promote their products, which is a significant motivator for selecting the channel. The major distribution channels for hair wigs and extensions worldwide are e-commerce platforms and retail stores, including hair salons and hairstylists. In the U.S. and the U.K., vendors sell their products through beauty stores, hypermarkets, and online marketplace platforms, including Facebook and Instagram marketplaces. Online retailers may sell through their own websites or through third-party marketplaces such as Amazon or eBay.

The growing popularity of wigs and hair extensions among millennials and Gen-Z is one of the main reasons for this increase in demand. With their hectic and fast-paced lifestyles, more and more people are turning to convenient solutions, including hairdos. Furthermore, as disposable incomes rise, consumers are more willing to invest large sums of money in products that will improve their appearance. The rapid adoption of the internet, the widespread use of smartphones, and the growing prominence of digital media have increased the number of online users worldwide. This is encouraging market vendors of hair wigs and extensions to invest in social media campaigns and promote their products through social media influencers for a wider reach. This trend is expected to have a positive impact on market growth during the forecast period. To meet the demand for hair wigs and extensions, major players such as Rebecca, SNG, Hengyuan, Ruimei, Lord Hair, Revlon, Raquel Welch, and Paula Young have introduced human hair wigs, also known as virgin hair because they are not treated with chemicals and are sourced directly from the human head.

Hair Wigs are a type of grooming product, and the demand for the former has been observed to grow faster than the demand for the latter. The market is also influenced by changing fashion trends and celebrity endorsements. For instance, the popularity of the ""long hair"" trend among women has boosted demand for hair extensions. The use of hair extensions and wigs for medical purposes such as for cancer patients undergoing chemotherapy is also a growing trend. Some of the challenges faced by the market include the availability of counterfeit products and the lack of regulation in the industry. The increasing focus on sustainability and ethical sourcing is also a trend in the market, with some companies offering eco-friendly and cruelty-free products.

Among the hair extension segment, the market is sub-segmented into various end-uses such as lengthening, volumizing, colouring, and styling. Among them, the lengthening segment is leading the market with a higher market share in 2022. This is a popular option for people who have short hair and want to achieve a longer, more dramatic look. Lengthening extensions are available in a variety of lengths, from a few inches to several feet. The market is constantly evolving, with new technologies and products being developed to meet the needs of consumers around the world. Hair extensions can also be used to add volume to natural hair. People who have fine or thin hair and want to achieve a fuller, more voluminous look can use them. Based on the fitting type, the clip-in segment is leading the market in 2022 and is expected to dominate the market during the forecast period as well. Clip-in hair extensions are a popular and easy-to-use option for consumers. These extensions come with small clips attached to them, which can be clipped onto the natural hair for a temporary, non-permanent look. On the other hand, the micro-link segment is growing at a higher CAGR. Micro-link hair extensions, also known as micro-bead extensions, are a more permanent option for consumers. These extensions are applied by threading the natural hair through small metal rings, which are then clamped onto the hair using pliers. Among the hair wig segment, the market is sub-segmented into monofilament and lace cap types. The monofilament segment is expected to dominate the market by 2028.A monofilament cap wig is constructed with a thin, breathable material that mimics the look of a natural scalp. Hair strands are then hand-tied onto the monofilament material for a realistic appearance.

Recent Developments
• WAEVE, a platform founded by three college friends, will offer high-quality content primarily to black people in June 2022. The team announced plans to release a collection of six different types of wigs four times a year and to donate 2% of its revenue to charitable organisations. In addition to the wig, customers will receive a starter kit that includes scissors, tweezers for plucking the hairline, a silicone grip, and four wig caps in two different colours.
• Evergreen Products Group Ltd. invested in a new product line of digital wigs using non-fungible token technology in April 2021. The group is working on the launch of an e-commerce platform, also known as direct-to-consumer (D2C) that will allow them to try on the wigs before purchasing them.
• In June 2021, Mayvenn Inc. opened its first retail shop on Fry Road in the Katy area of Texas to offer its products to new customers, provide several services to its users, and bridge the gap between customers and hairstylists.
• In March 2021, Milk+Blush, a hair extension supplier, launched a hair recycling programme by partnering up with Matter of Trust, an eco-charity, to take part in its ‘Clean Wave Campaign’ to spread awareness regarding the importance of recycling fabric and waste hairs.
• In 2020, Great Lengths expanded its hair care retail line to improve its aftercare offerings. The launch of three new products helps to improve the condition of hair. They are specially formulated to be used with Great Lengths but will work with all types of hair.

Covid-19 Impact:
The outbreak of the COVID-19 pandemic has significantly impacted the growth of the hair wigs and extensions market. The emergence of the lethal virus has increased consumers' desire to avoid going to salons for grooming. Consumers began spending more time at home, which slowed global demand for hair wigs and extensions. In terms of supply, China is the market leader in raw materials and human hair wigs and extensions; thus, the disruption has been felt as a government-imposed lockdown around the world. As a result, sales, raw materials, transportation, export and import, and raw material supply for the hair integration business were all down, and raw material supply was extremely limited. Due to restrictions and the lockdown period, the pandemic has slowed the supply chain. During this period, regional governments preferred to stop the transportation of hair owing to the possibility of transmission of the virus during the shipment. The disturbed raw material supply during the period led to a widening of the demand-supply gap and impacted the demand for hair wigs during the period. The rising desire for aesthetic looks will likely foster the recovery of this market in future years. The high prices of hair wigs are hindering the penetration of these products and brands among the target audience.

Companies Mentioned in this Report:
Great Lengths GmbH, Hena Rebca Hair Products Co., Ltd., Hair Dreams GmbH, Artnature inc., Aderans Co., Ltd, HairOriginals, Richy Hair Extensions International, Indique Hair LLC., UniWigs LLC, Racoon International Ltd, HairUWear, Inc., Aleriana Wigs, Rio Brazil Salon, Black Diamond Hair Company, Diva Divine India, Natural Hair Argentina, 931 Beauty, Nish Hair, Paulistaladiessalon, Natalhen, Balmain Hair Couture BV

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

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

Regions & Countries covered in the report:
• North America (United States, Canada, Mexico)
• Europe (Germany, United Kingdom, France, Spain, Italy, Russia)
• Asia-Pacific (China, Japan, India, Australia, South Korea)
• South America (Brazil, Argentina, Colombia)
• Middle East & Africa (UAE, Saudi Arabia, South Africa)

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

By Extensions:

By End User:
• Lengthening
• Volumizing
• Colouring
• Styling
By Fitting Type:
• Clip-in
• Micro Link
• Tape-in
• Glue-in

By Wigs:

By End-user:
• Beautification
• Functional
By Cap Type:
• Monofilament
• Lace

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.

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