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Hair Extension Market By Fitting Type (Clip-In, Micro Link, Tape-In, Glue-In, Others) By Category (Women’s Hair Extensions, Men’s Hair Extensions, Kid’s Hair Extensions) By Type (Artificial, Natural) - Growth, Future Prospects & Competitive Analysis, 2016 - 2028

About this report

The global hair extension market report explores the critical analysis of the hair extension industry using key parameters. This report details investment strategies, the need for investments in the hair extension industry, and multiple benefits for investors. It also provides insight into major changes in technical regulations and how economic and non-economic barriers are helping the market grow. In addition, it analyses global, regional, and country-level historic and forecasted market size. The report also provides a comprehensive analysis of key investment propositions, demand and supply gap, competitors positioning, STAR analysis, SRC analysis, and Tornado analysis. Key technological developments and other analyses include Porter's five forces analysis, PESTEL analysis, value chain analysis, etc.

REPORT ATTRIBUTE DETAILS

Hair Extension Market by Volume

Yes

Market by Value

Yes

Market, Tornado Analysis

Yes

Market, STAR Analysis

Yes

Market, SRC Analysis

Yes

Market, Import-Export Data

Yes (On Demand)

Market Pricing Analysis

Yes (On Demand)

Market Segment Analysis

By Fitting Type (Clip-In, Micro Link, Tape-In, Glue-In, and Others)

By Category (Women’s hair extensions, Men Hair Extensions, and Kid’s Hair Extensions)

By Type (Artificial and Natural)

By Sales Channel (Wholesalers/Distributors, Hypermarkets/Supermarkets, Specialty Stores, Beauty Stores, Independent Small Stores, Online Sales Channels, and Others)

Market, Regional Analysis

North America (the US and Canada)

Europe (Germany, UK, France, Italy, Spain, and the Rest of Europe)

Asia Pacific (China, India, Japan, South Korea, South East Asia, and the Rest of Asia Pacific)

Latin America (Brazil, Mexico, and the Rest of Latin America)

Middle East and Africa (GCC Countries, South Africa, and the Rest of the Middle East and Africa)

Market Key Companies

Bellami Hair, Godrej, Great Lengths, Klix Hair Extension, Evergreen Products Group Ltd, Balmain Paris Hair Couture, Beauty Industry Group, Qingdao Organic hair Ltd, Hair Dreams, Hidden Crown, Hair Addictionz, Femme Hair Extension, Hairlocs, Easihair, Socap Global, and Cinderella Hair

Market Competitive Landscape

Market Share Analysis

Competitive Benchmarking

Key Players Market Positioning

Geographical Presence Analysis

Major Strategies Adopted

 

Key Highlights of the Report

How are the major segments performing in the hair extension market?

  • The clip-in fitting type segment led the global market in 2021 due to rising consumer demand for low-cost products. It makes installation and removal easier for users, increasing their preferences.
  • In 2021, the women's hair extension category held the largest global market share. Hair extensions are popular among women owing to the growing willingness to spend money on high-quality hair extensions, increased awareness concerning appearance, and soaring hair loss issues.
  • The artificial-type segment is presumed to grow faster owing to its ability to endure rainy and humid wind conditions. Hair extensions made from artificial hair are less expensive than natural hair, increasing customer affordability.
  • In 2021, the online sales channel segment will dominate the global market owing to the growing use of online services. Rising smartphone usage and the ease of online shopping are anticipated to increase product adoption. Hair extensions are more easily sold due to the proliferation of online purchasing platforms like Amazon.com and eBay.

Which region dominated the hair extension market?

North America dominated the global hair extension market in 2021 owing to hair loss or damage issues. As per the US National Library of Medicine, alopecia areata affected 70,000 Americans in April 2020, with 50% of those affected being women. The growing concern over these diseases contributes to the industry's expansion. The market for hair extensions is expected to grow rapidly in the region over the next few years due to the shift in women's consumer trends toward high-quality products.

How is the US market performing in the hair extension market?

The United States dominated the North American hair extension market. The United States is a significant importer of hair wigs and extensions due to the growing prevalence of hair loss, thinning, and other hair-related concerns. The proliferation of beauty salons in the United States has also contributed to market growth. As per the Small Business Development Center Organization, there are 77,000 beauty salons and 4,500 barbershops in the United States as of May 2020. Moreover, an increase in the working women population and high grooming product expenses will drive the hair extension market growth in the country during the forecast period.

What is the competitive environment of the hair extension market?

The hair extension market is highly fragmented, and vendors are competing by implementing growth market penetration strategies through launches and M&A. Key players are taking various steps to increase their global presence. These steps include strategies such as alliances, mergers and acquisitions, new product development and introduction, international expansion, and others. For instance, Ellen Wille expanded its offering in the United States in January 2019 by introducing seven new styles of handcrafted wigs. Similarly, TWC (The Wig Company) was acquired by HairUWear in 2019, allowing HairUWear to expand its global customer base.

Executive Summary

What are the technical developments being developed in the global hair extension market?

The key factor in the market for hair extensions and wigs is the technological advancements in creating and designing synthetic hair wigs. Synthetic hair wigs and extensions have advanced significantly in appearance and design. Moreover, the increased use of hair extensions is attributed to their availability in various attaching techniques that cause less damage to the hair. The growing demand for premium hair extension products made from human hair also promotes growth. The impact of promotional tools on consumer purchasing behavior propels the hair extension market forward. Key companies also use various technological advancements in their sales channels to attract new customer bases. For example, in October 2021, AlgoFace, an ethical face AI enablement company, collaborated with hair extension brand Luxy Hair to introduce the first artificially intelligent color match tool for hair extensions. The Virtual Color Match Tool removes the guesswork from purchasing hair extensions, making the process simple, seamless, and personalized.

Which are the key investments by the hair extension market players?

Prominent companies in the hair extension market invest in the establishment of shops in various countries to expand their global potential customer base. For instance, Mayvenn Inc. expanded its customer base in June 2021 by opening stores in new regions. This strategy may enable Mayvenn Inc. to broaden its consumer base globally. Moreover, companies invest heavily in mergers, acquisitions, R&D, new product launches, and expansions to strengthen their market position. For example, Evergreen Products Group Ltd. invested in a brand-new digital wig product line in April 2021, utilizing non-fungible token technology. The group is preparing to launch an e-commerce platform, or direct-to-consumer (D2C), that will allow them to try on the hair extensions before purchasing them.

Some major hair extension market players are Bellami Hair, Godrej, Great Lengths, Klix Hair Extension, Evergreen Products Group Ltd., Balmain Paris Hair Couture, Beauty Industry Group, Qingdao Organic Hair Ltd., Hair Dreams, Hidden Crown, Hair Addictionz, Femme Hair Extension, Hairlocs, Easihair, Socap Global, and Cinderella Hair.

What are the major driving factors for the hair extension market?

The growth of the hair extension market is driven by rising consumer spending on products that enhance one's appearance and personality. Another factor favoring the value expansion of the global hair extension market is the propensity of industry competitors to develop new products. Hair extensions are also widely used in the entertainment and fashion industries. Growing technological developments in the manufacture and design of synthetic hair wigs and the rising prominence of celebrities and social media influencers will drive market growth over the forecast period.

What are the major risks for the hair extension market?

Hair extensions and wigs are extremely expensive, which is expected to limit industry growth. They may also cause discomfort and scalp issues, which are another thing that prevents growth. The high maintenance requirements for these products are another factor that hinders the industry's expansion.

Which is the key type in the hair extension market?

The artificial-type segment is expected to maintain its dominance by 2028. The increased use of synthetic wigs and extensions among all consumer groups is attributed to the segment's growth. Artificial hair products like wigs and extensions are more affordable than human hair products, giving them a price advantage. The increasing use of cutting-edge, inventive technology to create superior-quality artificial hair products is another factor driving the segment's growth. For instance, Hi-MO LLC creates Nexart hair using cutting-edge technology that mimics the structure of human hair to give it a natural feel.

How is the hair extension market performing in different regions?

The North American market is presumed to hold a larger market share than other regional markets during the forecast period. The regional growth is credited with increased penetration and use of wigs and extensions across all age groups. Products for hair extensions are used in the region as both functional items and fashion accessories. The United States is the world's largest importer of hair products. The Observatory of Economic Complexity (OEC) estimates that in 2020, the United States accounted for 53.6% of global imports of hair extensions, fake beards, and similar goods.

Asia Pacific is expected to witness the highest growth share in the hair extension market in the forecast period of 2022–2028. The region's rapid growth is due to consumers' increased use of hair products as fashion accessories. However, the ongoing regional fashion trends have encouraged young people and millennials to try such products. Hair extensions have traditionally been used for functional purposes in the region. Moreover, factors such as changing lifestyles, evolving manufacturing technology, and rapidly increasing consumer purchasing power are expected to drive regional growth over the forecast period.

hair-extension-market

What is the regulatory landscape for the hair extension market?

Companies are concentrating on implementing hair recycling programs today to lessen the waste produced by barbershops and the cost associated with obtaining raw materials. This assists businesses in meeting the goals of their annual sustainability initiatives. For instance, the manufacturer of Milk+Blush hair extensions started a hair recycling program in March 2021 by collaborating with the environmental charity Matter of Trust to participate in its "Clean Wave Campaign" and raise awareness of the value of recycling waste hair and fabric.

What is the market size of hair extensions in terms of value?

The global hair extension market is anticipated to grow at a substantial CAGR of 4.5% in the upcoming years. The global hair extension industry is estimated to be worth USD 2154.9 million in 2021 and is expected to be worth USD 2904.31 million by 2028.

What are the major players planning for the future of the hair extension market?

The trend of product innovation among market players is positively influencing the value growth of the hair extension market. Manufacturers are developing products with unique features that a wide range of customers can use. Key players are also releasing custom-designed hair-related products that best meet consumer demand. Market participants are launching online retail stores to increase product visibility and market share. Moreover, optimizing the online shopping experience through virtual settings, targeted marketing, convenience, and easy online access is expected to boost market growth in the upcoming years. For example, Hairlaya, the industry's top supplier of 100% Remy human hair extensions, introduced double-drawn hair extensions in 19 new colors in May 2020.

Segmentation of Global Hair Extension Market -

Global Hair Extension Market – By Fitting Type

  • Clip-In
  • Micro Link
  • Tape-In
  • Glue-In
  • Others

Global Hair Extension Market – By Category

  • Women’s Hair Extensions
  • Men’s Hair Extensions
  • Kid’s Hair Extensions

Global Hair Extension Market – By Type

  • Artificial
  • Natural

Global Hair Extension Market – By Sales Channel

  • Wholesalers/Distributors
  • Hypermarkets/Supermarkets
  • Specialty Stores
  • Beauty Stores
  • Independent Small Stores
  • Online Sales Channel
  • Others

Global Hair Extension Market – By Region

  • North America
    • US.
    • Canada
  • Europe
    • Germany
    • France
    • UK.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • South-east Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of the Middle East and Africa

Frequently asked questions about the global hair extension market

The COVID-19 pandemic negatively impacted the beauty and personal care industry, including the hair extensions market, due to the worldwide lockdown.

North America accounted for the most heightened share in the global hair extension market.

The growing prevalence of hair-related diseases among a large population worldwide, combined with the increasing use of hair wigs and extensions as an accessory to enhance aesthetic appearance, is driving the hair extension market growth.

The artificial segment had a major share in the global market in 2021.

The online sales channel segment had a major share in the global market.

Hair Extension Market Scope

Report Attribute Details
Market Value in 2021 USD 2154.9 million
Market Value in 2028 USD 2904.31 million
CAGR 4.5%
Benchmarking Year 2021
Past data 2016 – 2021
Forecast period 2022 – 2028
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Trusted By
Godaddy
Published Date:  Dec 2022
Category:  Consumer Goods
Report ID:   60839
Report Format:   PDF
Pages:   120
Rating:    4.6 (80)
Delivery Time: 24 Hours to 48 Hours   
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