Hair Wigs And Extensions Market Size, Share & Trends Analysis Report By Product (Wigs, Extensions), By Hair Type (Human Hair, Synthetic Hair), By Region, And Segment Forecasts, 2023 - 2030

Hair Wigs And Extensions Market Size, Share & Trends Analysis Report By Product (Wigs, Extensions), By Hair Type (Human Hair, Synthetic Hair), By Region, And Segment Forecasts, 2023 - 2030

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

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