Hair Wigs and Extension Market size is set to grow by USD 7.06 billion from 2024-2028, Technological advances in production and design of synthetic hair wigs boost the market, Technavio

NEW YORK, July 15, 2024 /PRNewswire/ -- The global hair wigs and extension market size is estimated to grow by USD 7.06 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  10.15%  during the forecast period. Technological advances in production and design of synthetic hair wigs is driving market growth, with a trend towards growing prominence of celebrity and social media influencers. However, high labor costs associated with handwoven wigs  poses a challenge. Key market players include Aderans Co. Ltd., Artnature Inc., Cha Cha Hair Products Ltd., Diva Divine Hair Extensions and Wigs, Donna Bella OpCo LLC, Evergreen Products Group Ltd., F.N. Longlocks, Godrej and Boyce Manufacturing Co. Ltd., Great Lengths Universal Hair Extensions Srl, Hair Visions International, Hairdreams Haarhandels GmbH, Hairlocs, India Hair International, Indique Hair LLC, Klix Hair Inc., Locks and Bonds, Racoon International Ltd., SalonLabs Exports India Pvt. Ltd., Shake N Go Inc., and Shandong Elite Hair Products Co. Ltd..

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Market Driver

The global hair wigs and extension market is experiencing significant growth due to the increasing popularity of digital media as a marketing channel. In developed countries like the US, hair goods manufacturers are investing in social media campaigns to reach a wider audience. The influence of celebrities and social media personalities on consumers is driving brand exposure through events such as fashion weeks. Micro-influencers are becoming the preferred promotional platform due to their engaged fanbase, authenticity, and lower cost. The trend of wearing hair wigs by celebrities like Kylie Jenner, Kim Kardashian, and Ariana Grande is expected to extend to emerging markets like India and China, boosting market growth. 

The hair wigs and extensions market is witnessing significant growth due to increasing trends among individuals experiencing hair loss or seeking diverse hairstyles and textures. Social media platforms and influencers play a crucial role in driving demand for wigs and extensions, with celebrities setting new trends. The market caters to individuals of all genders and ages, including those dealing with hair-related conditions like Alopecia and hair thinning. The market offers various types, including full wigs, partial wigs, pre-bonded extensions, and weft extensions, made from human hair, synthetic hair, Remy hair, and Non-Remy hair. Durability and maintenance requirements vary between types. Topical treatments and surgical interventions are alternative solutions, but wigs and extensions offer immediate results and self-expression opportunities. The retail sector and entertainment industry significantly contribute to the market's growth. Customer satisfaction is a top priority, with community interaction and digital exposure playing essential roles. The diverse offerings cater to individual consumers, with wigs and extensions available for men, women, and children, enhancing their personal well-being and beauty. 

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Market Challenges

•         The handwoven wig manufacturing industry in countries like the UK and the US has faced a decline due to the scarcity of skilled labor and elevated labor costs. Handwoven wigs, which are custom-made and hand-tied, offer superior quality and closely mimic natural hair characteristics. However, the production process for human hair wigs is labor-intensive, involving the preparation of raw hair, sorting, and cleaning. In contrast, synthetic lace front wigs, which are partially hand-tied and predominantly machine-made, require less production time. Despite this, producing a synthetic full lace wig still takes significant time, ranging from 40 to 120 working hours based on complexity. Density also influences production time, with higher densities requiring more knots on the lace cap. Consequently, the high labor costs associated with handwoven wigs are anticipated to hinder the expansion of the global hair wigs and extensions market.

•         The Hair Wigs and Extensions market faces several challenges. Durability is a key concern, as both wigs and extensions require regular maintenance and may need topical treatments or surgical interventions to maintain their appearance. Customer satisfaction is paramount, with individual consumers, men, women, and children seeking high-quality products for personal well-being and beauty enhancement. Hair Type is a significant factor, with human hair and synthetic hair each having its advantages and disadvantages. Human hair wigs, such as full and partial wigs, come in various types like Remy and Non-Remy, while extensions include pre-bonded and weft. Alopecia and hair thinning, including Androgenetic alopecia, are common reasons for using wigs and extensions. The market caters to various demographics, including the entertainment industry, retail stores, and individual consumers. Black people often have unique needs, and specialized tools like scissors, tweezers, and wig caps with silicone grips are essential for proper installation and care. Overall, the Wigs segment and Hair Extensions market must address these challenges to meet the evolving demands of diverse customer bases.

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Segment Overview 

This hair wigs and extension market report extensively covers market segmentation by  

1. Distribution Channel
• 1.1 Offline
• 1.2 Online
2. Product 
• 2.1 Human hair wigs and extension
• 2.2 Synthetic hair wigs and extension
3. Geography 
• 3.1 APAC
• 3.2 North America
• 3.3 Middle East and Africa
• 3.4 Europe
• 3.5 South America

1.1 Offline-  The Hair Wigs and Extensions market encompasses various distribution channels, including specialty stores, hypermarkets, supermarkets, convenience stores, clubhouse stores, and others. Hypermarkets, such as Walmart and Target, are significant players in this market due to their expanding business operations. Salons and spas are gaining popularity among consumers for their rejuvenation treatments and grooming services. The trend of hair styling among men and women continues to fuel market growth. Specialty stores, like Sephora, offer a wide selection of hair wigs and extensions, making them preferred retail outlets for consumers and professionals. Vendors are adopting the online-to-offline (O2O) business strategy to boost sales through offline channels while enhancing their digital presence. The O2O channel provides benefits such as in-store pickup, online purchases at physical stores, and product returns, enabling vendors to expand their consumer base and increase market share. These factors are expected to propel the growth of the global Hair Wigs and Extensions market during the forecast period. (Word count: 97)

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Learn and explore more about Technavio's in-depth research reports

The global hair care market is experiencing significant growth, driven by increasing consumer awareness about hair health and the rising demand for premium products. The hair products market, encompassing shampoos, conditioners, and styling products, is expanding due to innovative formulations and eco-friendly options. Additionally, the global hair masks market is booming as consumers seek deep conditioning and restorative treatments. Key players are focusing on natural ingredients and advanced technologies to meet diverse consumer needs, ensuring continued market growth and dynamic product evolution in these sectors.

Research Analysis

The hair wigs and extensions market caters to individuals experiencing hair loss or seeking new styles, textures, and colors for personal expression. Hair wigs are popular solutions for those dealing with conditions like Alopecia, hair thinning, and Androgenetic alopecia. The market offers a wide range of options for men, women, and children, with various textures, colors, and styles available. Social media platforms and influencers have significantly influenced the market's growth, making it more accessible and trendy. The entertainment industry and retail stores are significant contributors to the market's demand. The wigs segment includes synthetic and human hair wigs, while hair extensions come in various types like clip-ins, sew-ins, and tape-ins. Black people have a significant presence in the market due to cultural and fashion reasons. Accessories like scissors, tweezers, silicone grips, and wig caps are essential tools for maintaining and styling wigs and extensions.

The Hair Wigs and Extensions market caters to individuals experiencing hair loss or seeking new styles, textures, and colors for self-expression and experimentation. Social media platforms, influencers, and celebrities play a significant role in digital exposure and popularizing diverse hairstyles. The market offers various options, including wigs, extensions, full wigs, partial wigs, pre-bonded extensions, and weft extensions, in Human hair, Synthetic hair, Remy hair, and Non-Remy hair. Individuals, including men, women, and children, benefit from this market for personal well-being and beauty enhancement. Hair-related conditions like Alopecia, hair thinning, and Androgenetic alopecia drive demand. Retail stores and the Entertainment industry are key sectors. Hair donors provide durability, while maintenance requirements, topical treatments, and surgical interventions ensure customer satisfaction. Accessories like scissors, tweezers, silicone grips, and wig caps complete the market landscape.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Distribution Channel
• Offline
• Online
• Product
• Human Hair Wigs And Extension
• Synthetic Hair Wigs And Extension
• Geography
• APAC
• North America
• Middle East And Africa
• Europe
• South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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