Global Hair Extension & Wigs Market Report 2023: Sector is Expected to Reach $14 Billion by 2028 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Hair Extension & Wigs Market Overview, 2023-28" report has been added to ResearchAndMarkets.com's offering.

According to the research report, Global Hair Extensions & Wigs Market Overview, 2023-28 the market is anticipated to reach a size of over USD 14 billion by 2028, up from USD 8.82 billion in 2022.

Companies Mentioned

• Great Lengths GmbH
• Hena Rebca Hair Products Co., Ltd.
• Hair Dreams GmbH
• Artnature Inc.
• Aderans Co., Ltd.
• HairOriginals
• Richy Hair Extensions International
• Indique Hair LLC.
• UniWigs LLC
• Racoon International Ltd.

The market is projected to grow at an 8.90% CAGR from 2023 to 2028. An increasing number of customers demanding hair extensions or wigs for beauty or functional purposes have been driving the industry over the last few years. Native Africans and people of African descent are the biggest users of hair wigs and extensions.

Global demand for high-quality hair products is causing manufacturers to establish production facilities in Asian countries, primarily China and India, and to offer hair wigs and extensions at lower prices than in international markets. The number of African-descent women with thinning hair and men with receding hairlines and male pattern baldness is comparable to that of consumers in the United States and Europe.

The availability of high-quality wigs and toupees encourages men all over the world to experiment with them as a non-surgical alternative to surgical procedures or hair transplants. Furthermore, hair wigs are widely used in developing countries. Hair extensions account for a sizable portion of the global hair wigs and extensions market in countries such as the United States, the United Kingdom, France, and Italy. While GDP growth in both developing and advanced economies is expected to rise, the hair wigs and extensions market in China and India is expected to see significant growth in usage and demand.

The grooming industry is expanding, which is expected to boost demand for hair wigs in the future. Personal income growth is driving up demand for fashion accessories. The market for hair wigs has grown at a faster rate over the last decade than the market for other grooming products.

While demand for wigs has been observed to follow a consistent path in developed clusters, developing economies are expected to pave the way for industry growth. Globally, there has been steady progress in the grooming sector, and the fast-paced lifestyle of the global population has compelled people to choose simple and convenient options for routine personal grooming.

The global hair wig and extension market is expected to grow rapidly during the forecast period, owing to increased use of hair wigs and extensions as well as the occurrence of hair-related disorders among a large population worldwide. Hair loss can result in full or partial baldness due to a variety of medical conditions and hormones, making people self-conscious about their appearance. As a result, the demand for hair implants has skyrocketed.

Additionally, it is predicted that the rise in per capita disposable income will provide chances for the market for hair extensions and wigs to expand in the coming years. Due to the increase in beauty salons, North America is predicted to lead the market for hair wigs and extensions in 2022.

The market for hair wigs and extensions is expected to increase rapidly in the region over the next few years because of the shift in women's consumer trends towards high-quality items. However, due to the problems with hair loss or damage, Asia-Pacific accounts for a significant share of the global market for hair wigs and extensions.

During the forecast period, the region's hair wigs and extensions market will also benefit from an increase in the number of working women and increased spending on grooming products. Premium brands that are thriving Godrej Consumer Products Ltd. purchased Darling Group Holdings and now offers a diverse range of extensions, wigs, dreads, and plaits that celebrate the dynamism of beauty and fashion in Africa.

Several start-ups have emerged in the hair integration industry, increasing market competition. Premium brands have attempted to gain market share by introducing innovation in hair wigs and extensions, offering customers high discounts and bundle deals, ensuring product health and safety, creating campaigns, and certifying salons.

Key Topics Covered:

1. Executive Summary

2. Market Dynamics

2.1. Market Drivers

2.2. Challenges

2.3. Opportunity

2.4. Restraints

2.5. Market Trends

2.6. Covid-19 Effect

2.7. Supply chain Analysis

2.8. Policy & Regulatory Framework

2.9. Industry Experts Views

3. Research Methodology

4. Market Structure

5. Economic /Demographic Snapshot

6. Competitive Landscape

6.1. Competitive Dashboard

6.2. Business Strategies Adopted by Key Players

6.3. Key Players Market Share Insights and Analysis, 2022

6.4. Key Players Market Positioning Matrix

6.5. Consolidated SWOT Analysis of Key Players

6.6. Porter's Five Forces

7. Global Hair Extension & Wigs Market Outlook

8. North America Hair Extension & Wigs Market Outlook

9. Europe Hair Extension & Wigs Market Outlook

10. Asia-Pacific Hair Extension & Wigs Market Outlook

11. South America Hair Extension & Wigs Market Outlook

12. Middle East & Africa Hair Extension & Wigs Market Outlook

13. Company Profile

14. Strategic Recommendations

15. Annexure

16. Disclaimer

For more information about this report visit https://www.researchandmarkets.com/r/1uan1f

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