Wig & Hairpiece Manufacturing in the US - Industry Market Research Report

Wig & Hairpiece Manufacturing in the US - Industry Market Research Report

Wig & Hairpiece Manufacturing in the US

Stronger macroeconomic conditions have slightly boosted industry revenue as discretionary spending rises and US consumers can better afford discretionary cosmetic products like wigs and hairpieces. Furthermore, an aging population and rising healthcare expenditures help industry revenue grow because older people are more likely to lose their hair, and sick patients may see wigs as necessary. However, the trade-weighted index, which measures the value of the US dollar relative to its trading partners, has increased during the five years. When the US dollar appreciates, domestic goods become less desirable, which hurts industry demand and increases the effect of foreign competition. Nonetheless, strong revenue growth during the early part of the period and a recent trend of depreciation of the US dollar during the latter part have kept industry revenue in afloat. Therefore, industry-wide revenue has been increasing at a CAGR of 3.1% over the past five years, including an estimated 3.1% increase in the current year, and is expected to total $326.6 million in 2023. In the same year, profit is projected to decrease to 5.8%.

This industry manufactures wigs and hairpieces for both aesthetic and medical purposes.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.