The global hair extension market was valued at $7.3 billion in 2022 and it is expected to reach $22.2 billion at a CAGR of 11.8% between 2023 and 2032. The main driver of industry growth is the increasing frequency of hair-related issues, such as alopecia, over the world. The public's growing concern over these ailments is contributing to the industry's expansion.
During the anticipated period, the human hair wigs product segment held the biggest market share for hair extensions and wigs. Throughout the projected period, this segment's growth is most likely to continue rapidly. The popularity of human hair wigs and extensions, which resemble natural hair and have superior product quality and longevity than synthetic hair wigs and extensions, can be credited with the growth. The segment will rise during the forecast period as a result of this rising demand
Due to rising disposable money and greater fashion consciousness among both men and women, the use of hair dyes has greatly expanded in recent years. Adult men, women, and even children frequently color their hair to radically improve their appearance. One of the most popular hair coloring options for achieving a blonde or golden tint hair is temporary hair dye. Utilizing bleach causes the hair follicles to oxidase, which results in a coloring effect. This dehydrates the hair follicles in addition to harming the hair in its natural form. Additionally, it can result in dryness, breakage, and split ends, all of which can result in hair loss. Additionally, hair coloring has side effects.
Source: SAI Research
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Additionally, worries about cancer have raised the risks associated with using and applying hair coloring products. Therefore, consumers are attempting to restrict the use of harsh chemical agents on hair, and hair extensions are predicted to be utilized progressively over the next years due to rising knowledge of the ill effects of hair coloring, particularly among the younger generation. In addition, it is predicted that the growing popularity of hair wigs and extensions among young people and millennials to enhance their aesthetic appeal will fuel the industry's expansion. The growing impact of social media in encouraging the usage of wigs and extensions as well as celebrity endorsements is some of the other major drivers of the industry's expansion.
The improvement in middle-class people's living standards and increase in disposable income drive the expansion of the human hair extension market. The market is comprehensively evaluated in the study on the global human hair extension market. The research provides a thorough analysis of the market's key segments, trends, drivers, restraints, competitive environment, and other important elements. Furthermore, the worldwide hair extensions industry is expected to be impacted by a noteworthy shift in middle-class spending habits. Due to a growing middle class and rising disposable income in emerging nations like China and India, middle-class consumers make up a large portion of the market for hair extensions. The consumption of the Chinese middle class mostly followed the growth trajectory of the middle class in the west, with rising consumer demand for higher-quality goods including hair extensions, hair care, and other styling and grooming products.
Based on product type, the human segment accounted for the highest share of this market due to increasing demand for this among a large number of people across several emerging countries from various regions. On the other side, the synthetic segment is also anticipated to dominate the market in the future. The segment's dominance is linked to wigs' rising popularity and widespread consumer usage. Wigs are mostly worn to conceal baldness or to alter hairstyles. There is no human hair in synthetic hair, which is created from a variety of synthetic and mixed fibers. These strands, which are made to resemble natural human hair, are extremely fine plastic fibers. Since most colors contain ammonia or bleach, which could damage synthetic hair, synthetic hair cannot be colored. In addition, synthetic hair extensions can also be harmed by friction, sunlight, or harsh hair products.
In terms of gender type, the female segment accounted for the largest share of this market. Due to the increasing demand from female consumers, this market is predicted to expand quickly. Producers focus on appealing to women since they want to spend money on beauty products. In addition, women's desire for hair extensions is being driven by their increased willingness to spend money on high-quality hair extensions, their growing concern for their appearance, and their increasingly serious hair loss problems.
Geographically, the North American region has dominated the market and is also expected to hold its dominant position during the forecast period from 2022 to 2032. The increasing penetration and use of wigs and extensions across all age groups are credited with the region's rise. The hair accessories in the area are utilized as both useful and decorative items. The U.S. imports more hair products than any other country in the world. Following the increase in spending on hair styling, the industry is anticipated to experience significant development. Additionally, new fashion trends and the effect of social media on visually pleasing aesthetics are anticipated to support market expansion in the area. On the other side, the Asia-Pacific region is also estimated to become the second-highest market during the forecast period. China's economic development and political situation have been impacted by globalization since it has given Chinese citizens access to new markets. Foreign goods and marketing promoting various cures and appearances have flooded the open markets.
According to the study, key players such as Artnature Inc (Japan), Aderans Co. Ltd (Japan), Balmain Hair Group (France), Bellami Hair (U.S), Cinderella Hair (U.S), Donna Bella Hair (India), Evergreen Products (China), FnLonglocks Hair Suppliers (U.S), Hidden Crown (Netherlands), Hair Dreams (Austria), Hairlocs (U.S), Klix Hair Extensions (U.S), Indique Hair (India), Racoon International (U.K), Socap Extensions (Italy), Shake-n-go (U.S), among others are leading the global hair extension market.
|Market Size in 2021||US$ 7.3 Billion|
|Market Volume Projection by 2032||US$ 22.2 Billion|
|Forecast Period 2023 to 2032 CAGR||11.8%|
|Historical Data||2019 and 2022|
|Forecast Period||2024 to 2032|
By Product Type: Synthetic, Human & Animal
By Gender Type: Female, Male & Others
North America, Europe, Asia-Pacific, LAMEA
|Companies covered||Artnature Inc (Japan), Aderans Co. Ltd (Japan), Balmain Hair Group (France), Bellami Hair (U.S), Cinderella Hair (U.S), Donna Bella Hair (India), Evergreen Products (China), FnLonglocks Hair Suppliers (U.S), Hidden Crown (Netherlands), Hair Dreams (Austria), Hairlocs (U.S), Klix Hair Extensions (U.S), Indique Hair (India), Racoon International (U.K), Socap Extensions (Italy), Shake-n-go (U.S), among others.|
The Global Hair Extension Market – by Product Type:
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