Hair Wigs And Extensions Market Set to Surge Significantly During 2022-2030: Grand View Research Inc.

 

Hair Wigs And Extensions Market Growth & Trends

The global hair wigs and extensions market size is estimated to be USD 12.27 billion in 2030 and is anticipated to grow at a CAGR of 8.0% from 2022 to 2030, according to a new report by Grand View Research, Inc. The use of hair wigs and extensions protects the natural hair against the damage caused by heating and the use of chemicals. Furthermore, these products are also used for styling as they are highly convenient. In addition, the increasing incidence of diseases related to hair including alopecia is another factor expected to contribute to the growth of the industry over the forecast period. The COVID-19 pandemic had a negative impact on the global industry due to the shortage of human hair as a result of the closure of salons to stop the spread of the virus.

The industry was also heavily impacted due to restrictions on the export and import of the products. The businesses operating in the industry suffered a major loss due to delays in the shipment of products across the globe. The wigs segment held a higher share of the overall revenue in 2021 and is expected to expand at a substantial CAGR over the forecast period. The high adoption of wigs is the primary factor expected to contribute to the growth of the segment. Wigs enable the user to achieve the desired look by styling it without causing any damage to the natural hair while using chemicals and heat, which is increasing the adoption of wigs.

North America accounted for the largest revenue share in 2021 and is estimated to grow at a considerable CAGR over the forecast period. The increasing adoption of hair extensions & wigs by consumers in the region as a fashion accessory is a key factor contributing to its growth. Moreover, high product usage by all types of age groups as a part of their costume during the Halloween season. Major players are undertaking various strategies including global expansion, partnerships, acquisitions & mergers, development & launch of new products, and others to gain a higher share of the industry.

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Hair Wigs And Extensions Market Report Highlights

• Asia Pacific is expected to grow with the fastest CAGR over the forecast period due to the rising product adoption among the millennials and gen z population as a fashion accessory

• The extensions segment is estimated to register the fastest growth rate during the forecast period

• This growth is attributed to the factors, such as the growing demand for high-quality extensions coupled with their availability in different attaching techniques

• The synthetic hair type segment is projected to register the fastest growth rate during the forecast period

• This growth is attributed to the increasing adoption of synthetic hair goods as these are cheaper than human hair

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Hair Wigs And Extensions Market Segmentation

Grand View Research has segmented the global hair wigs and extensions market on the basis of product, hair type, and region:

Hair Wigs & Extensions Product Outlook (Revenue, USD Million, 2017 - 2030)

• Wigs

• Extensions

Hair Wigs & Extensions Hair Type Outlook (Revenue, USD Million, 2017 - 2030)

• Human Hair

• Synthetic Hair

Hair Wigs & Extensions Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • U.K.

  • Germany

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Indonesia

• Central & South America

  • Brazil

• Middle East & Africa

  • South Africa

List of Key Players of Hair Wigs And Extensions Market

• Evergreen Products Group Ltd.

• Godrej Consumer Products Ltd.

• Artnature Inc.

• Aderans Co., Ltd.

• Donna Bella Hair

• F.N. Longlocks

• ALERIANA Wigs

• Klix Hair Extensions

• Indique Hair

• Shake-N-Go, Inc.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.