Hair Wigs and Extensions Market Size to Reach Revenues of over USD 13.3 Billion by 2026 - Arizton

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Mar 10, 2021, 14:00 ET

CHICAGO, March 10, 2021 /PRNewswire/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this global hair wigs and extensions market report.

The hair wigs and extensions market is expected to grow at a CAGR of over 13% during the period 2020−2026.

Key Highlights Offered in the Report:

1. The top 10 manufacturers of hair wigs and extensions accounted for a share of approximately 27% of the global hair wigs and extensions market. Interestingly, eight of the top ten manufacturers have a share of less than 3% each, thereby making the market highly fragmented.

2. According to the International Society of Hair Restoration Surgery (ISHRS), more than 2 million patients sought treatment for hair loss in 2019, a 14% increase from 2016.

3. In 2020, the global hair extensions market by end-use was dominated by the lengthening and volumizing segment, followed by the coloring and styling segment.

4. In 2020, the global hair wigs and extensions market was dominated by North America with a share of over 41%. North America was followed by APAC with a share of around 32%.

5. China exports around 70% of the global supply of wigs and hair – this supply was impacted in Q1 and Q2 2020 due to the pandemic. The export volume decreased in the first few months, but the prices kept increasing due to raw material shortage.

6. The urban population base is the major factor contributing to the growth of the beauty industry. The development of infrastructure and access to better amenities are further helping this segment become a major consumer base, driving the retail demand for beauty and hair care products.

7. Men with hair problems, such as alopecia and receding hairlines are increasingly choosing toupees and hair pieces to cover hair loss.

8. In 2020, the hair wigs and extensions market in APAC was dominated by hair extensions, which accounted for a share of around 58%, while hair wigs and extensions made from human hair accounted for a share of over 54%.

Key Offerings:

Market Size & Forecast by Revenue | 2020−2026
Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
Market Segmentation – A detailed analysis by product, hair types, end-users, distribution channels, and geography
Competitive Landscape – 3 key vendors and 58 other vendors

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Hair Wigs and Extensions Market – Segmentation

North America is expected to contribute approx. USD 2 billion by 2026 to the global hair wigs and extension market. Consumers of African descent constitute one of the largest end-user of wigs. Consumers are trying to limit the use of harsh chemical products such as peroxide serums. Moreover, an increasing number of women prefer natural afro-textured hair.
In terms of supply, China leads the human hair wigs and extensions market. Several companies in the country manufacture hair wigs and extensions and source them from domestic suppliers. However, counterfeiting remains a major challenge for the market's growth as several processing centers in China often mix comb, ground hair, and weft leftovers to make extensions and wigs
The film industry constitutes the largest end-users for wigs and extensions. The growing popularity of wearing hair wigs among celebrities, models, and social media influencers has a ripple effect among individual consumers. New and evolving fashion trends in the industry have also always influenced the market growth among individual consumers and entertainers.

Hair Wigs and Extensions Market by Products

Hair Extensions
By End-user

Lengthening and Volumizing
Coloring
Styling

By Fitting Type

Clip-in
Micro Link
Tape-in
Glue-in

By Hair Type

Human
Synthetic

Hair Wigs
By End-user

Leisure
Beautification
Functional

By Cap Type

Monofilament
Lace

By Hair Type

Human
Synthetic

Toupee
By Gender

Men
Women

By Hair Type

Human
Synthetic

Hair Wigs and Extensions Market by Hair Type

Hair Sourcing
By Product

Extensions
Wigs
Toupee

Synthetic
By Product

Extensions
Wigs
Toupee

End-users

Individual Consumers
Entertainment & Fashion Industry

Hair Wigs and Extensions Market by Distribution Channel

Offline
Online

Hair Wigs and Extensions Market – Dynamics

The global middle-class population, which is the next potential customer segment for the beauty and prestige beauty industry, has surged significantly. With the rise in disposable income among middle-class consumers, their standard of living and shopping modes are rapidly changing. Currently, the number of customers visiting branded salons is greater than ever before. This is because these customers proactively seek branded products, including skin cosmetics and hair products. Middle-class consumers are often the primary targets for consumer-focused businesses because of their large size and discretionary spending power. However, for reaching out to middle-class consumers, companies need a deep understanding of not only their income and expenditure levels, but also their spending priorities, values, and attitudes. While these differ significantly between the developed and emerging countries, middle-class consumers in the emerging economies can be extremely diverse.

Key Drivers and Trends fueling Market Growth:

Image Makeovers in Urban Communities
Increasing Use of Wigs in Fashion & Entertainment Industry
Increasing Demand for False Hair as Beauty Accessory
Social Media Enabling New Demand

Hair Wigs and Extensions Market – Geography

In 2020, North America dominated the global hair wigs and extensions market with a share of over 40% with US being the largest market for wigs and hair extensions worldwide. US-based manufacturers have always experienced high demand for hair wigs and extensions of both human hair and synthetic fibers. Historically, the demand for hair wigs and extensions has been influenced by hair salons and beauty centers. At present, the primary demand for hair wigs comes from recommendations by hairstylists. Earlier although, some consumers, especially men, were secretive about using hair extensions.

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Hair Wigs and Extensions Market by Geography

North America

US
Canada

Europe

UK
Germany
France
Spain
Italy

APAC

China
Japan
South Korea
Australia
India

Latin America

Brazil
Mexico

Middle East & Africa

South Africa
UAE
Nigeria

Major Vendors

Godrej
Great Lengths
Evergreen Product Group

Other Prominent Vendors

Aderans
Aleriana Wigs
Anhui Jinruixiang Hair Product Co. Ltd.
Artnature
AY Hair Products
Balmain Hair
Beaudiva
Bellami Hair
Bloomsbury Wigs
Bohyme
Charm Hair
CheapWigSales
Cinderella
Dan Choi's Remy New York
Diamond Hair Company
Dini Wigs
Diva Divine India
Donna Bella
Easihair Pro
Femme Hair & Beauty
FN LongLocks
Glam Seamless
Hair Life India
Hair Visions International
Hair Zone
Hairdreams
Hairlocs
His and Her Hair Goods
Human Hair Argentina
India Hair International (IHI)
Indique
Indo Hair
Just Extensions
Klix Hair Extensions
Locks & Bonds
Lord Hair
Lush Wigs
Luxy Hair
Madali
Mayvenn
OMG Queen
Paula Young
Racoon International
Rebecca
RichFeel
Ruimei Hair Products
Shake-n-Go Fashion (SNG)
SO.CAP.
THE HAIR SHOP
True Indian Hair
TSD Hair
Woven Hair
Xuchang Haoyuan
Xuchang Penghui
Xuchang Shengtai
YH Hair
Yinnuohair

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