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Hair Wig and Extension Market - By Product Type (Wigs, Extensions), By Hair Type (Human Hair, Synthetic Hair), By End-User, By Distribution Channel, Forecast 2024 – 2032

  • Report ID: GMI7793
  • Published Date: Jan 2024
  • Report Format: PDF

Hair Wig and Extension Market Size

Hair Wig And Extension Market Size was valued at USD 7.10 billion in 2023 and is anticipated to register a CAGR of over 4.6% between 2024 and 2032. Hair wigs and extensions have become increasingly popular in the beauty and fashion industry, offering individuals the opportunity to transform their look instantly.
 

Hair Wig And Extension Market

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These Products cater to a diverse consumer base, ranging from those seeking a temporary change for a special occasion to individuals dealing with hair loss. The market for wigs and extensions has witnessed significant growth, fueled by advancements in technology and the availability of a wide range of styles, textures, and colors. Human hair wigs and extensions are highly sought after for their natural appearance and versatility.
 

The surge of social media platforms, notably Instagram and TikTok, plays a pivotal role as influencers and celebrities showcase diverse hairstyles, fostering a culture of experimentation and self-expression. This digital exposure not only propels the demand for trendy wigs and extensions but also educates consumers about the variety of styling possibilities. Additionally, the rise in hair-loss and hair-related conditions has contributed significantly to the market expansion, as individuals seek non-invasive solutions to enhance their appearance and confidence. The rapidly aging population further fuels the market, with older demographics increasingly turning to wigs and extensions to rejuvenate their look. Simultaneously, the growing demand for beauty and lifestyle accessories, driven by a desire for personal grooming and style, amplifies the market's momentum, indicating a sustained and multifaceted expansion in the hair enhancement industry. 
 

One notable constraint is the ethical concerns surrounding the sourcing of human hair for these Products. Issues related to fair labor practices and the potential exploitation of hair donors have led to increased scrutiny, impacting the industry's reputation, and prompting consumers to seek ethically sourced alternatives. Additionally, the durability and maintenance requirements of wigs and extensions may deter some potential customers. The market also faces competition from other hair enhancement solutions, such as topical treatments or surgical interventions, which may be perceived as more permanent and effective options for individuals dealing with hair loss.
 

Hair Wig and Extension Market Trends

The hair wigs and extensions market is witnessing a notable trend where brands are organizing both in-person and virtual wig-style seminars. These events serve a dual purpose of educating clients about the various aspects of wig care and styling while fostering a sense of community interaction. By positioning themselves as wig-care experts, brands not only enhance customer satisfaction but also establish a deeper connection with their clientele. These seminars create a platform for sharing tips, trends, and personalized guidance, contributing to a more informed and engaged consumer base.
 

Augmented reality (AR) mobile apps are transforming the online purchasing experience in the hair wigs and extensions market. These innovative apps allow consumers to virtually try on different wig styles before making a purchase. By leveraging AR technology, customers can visualize how a specific wig or extension will look on them, enhancing their confidence and reducing the uncertainty associated with online shopping.
 

Hair Wig and Extension Market Analysis

Hair Wig & Extension Market Size, By Product Type, 2021 - 2032, (USD Billion)
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Based on Product type, the Hair Wig and Extensions market is segmented into wigs and extensions. Within the wig category, there are full wigs, providing a complete and transformative coverage, and partial wigs, designed for specific areas, allowing users to enhance their natural hair selectively. On the extension front, the market offers pre-bonded extensions, which come with pre-applied adhesive for easy application, and weft extensions, characterized by their seamless integration into existing hair using a track-like structure. The wigs segment has held the largest share of the market in 2023, of about 73% since consumers these days prefer trying various experiments with the hair and wigs provide that by without having to damage their actual hair.
 

Hair Wig & Extension Market Revenue Share (%), By Hair Type, (2023)
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Based on Hair Type, the hair wig and extension market is segmented into human hair and synthetic hair. The human hair segment generated a revenue of around USD 4.4 Billion in the year 2023, attributing to the natural look they provide to the consumers. The human hair segment encompasses various categories, notably Remy hair, characterized by cuticles aligned in the same direction to achieve a natural look. Non-Remy hair, on the other hand, consists of strands with cuticles in different directions, offering an alternative option. Virgin hair, prized for being untreated and in its natural state, appeals to those seeking authenticity. Processed hair includes dyed, bleached, or curled variants, providing a spectrum of styles for customization.
 

Based on End-User the hair wig and extension market is divided into individual consumers including men, women, and children, and entertainment and fashion industry. Individual consumers form a significant portion of the market, with men, women, and children seeking these products for various reasons. The individual consumers segment holds the largest market share of 78.4% in 2023 and is expected to grow at a CAGR of 4.7% in the forecast period. Simultaneously, the entertainment and fashion industry play a crucial role in driving trends and demands within the market. Celebrities, actors, and performers often use wigs and extensions as transformative tools for roles or to stay on-trend with evolving fashion standards.
 

Based on Distribution channels the hair wig and extension market is separated into online channels and offline channels. While offline channels currently hold the largest market share of 57.4% due to the preference of consumers to physically try on and compare Products, online channels are expected to experience faster growth of in the coming years. This growth is driven by factors such as increasing internet penetration, convenience of online shopping, wider Product selection, and competitive pricing. Additionally, the growing popularity of online marketplaces and direct-to-consumer brands is further fueling the expansion of the online segment.
 

Asia Pacific Hair Wig & Extension Market Size, 2021 - 2032 (USD Billion)
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In 2023, the Asia Pacific region asserted its dominance as the frontrunner in the hair wigs and extensions market, securing a total share of over 38.5% of the total revenue. This is driven by the increasing disposable income of Asia Pacific consumers, leading to heightened expenditures on personal well-being and beauty Products, notably including hair wigs and extensions. The market is further fuelled by the entry of new players into the market, contributing to its dynamic and competitive landscape.
 

Additionally, this region is poised to experience the most substantial growth rate in the hair wigs and extensions market, anticipated to reach about 4,8% over the forecast period. This surge is attributed to the region's burgeoning market for hair Products and accessories, where a multitude of both small and large players cater to the diverse demands of consumers.
 

Hair Wig and Extension Market Share

Company Market Share Analysis, 2023

Major players like Evergreen Products Group Ltd., Godrej Consumer Products Ltd., and Klix Hair Extensions., collectively hold a market share of 15% and leverage their brand recognition and established distribution networks to maintain a strong market presence. These prominent players are proactively involved in strategic endeavors like mergers & acquisitions, facility expansions, and collaborations to expand their Product portfolios, extend their reach to a broader customer base, and strengthen their market position.
 

Hair Wig and Extension Market Companies

Major players operating in the Hair Wig and Extension industry include:

  • Klix Hair Extensions
  • Evergreen Products Group Ltd.
  • Godrej Consumer Products Ltd.
     

Hair Wig and Extension Industry News

  • In July 2023, BELLAMI, a global leader in the hair extension industry launched BELLAMI Professional Hair Care. This revolutionary offering marks the world's inaugural professional-grade hair extension care collection designed for both in-salon and at-home use, signaling a significant advancement in the maintenance and care of hair extensions.
     
  • In October 2022, Aderans Co., Ltd. introduced its latest innovation in artificial hair technology the third-generation functional artificial hair named "CYBER X." Utilizing proprietary technology to reduce shine, the company successfully emulates the natural luster of hair. The Product is perfected with a sea-island structure, incorporating polyamide and polyester.
     
  • In October 2022, HairOriginals, a prominent natural hair extension manufacturer in India, revealed the launch of a novel hair app designed for end-users, salons, and stylists. Compatible with both iOS and Android platforms, the software is envisioned to cultivate a community focused on hair extension Products and services, showcasing HairOriginals' commitment to enhancing connectivity and engagement within the haircare industry.
     

The Hair Wig and Extension market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Billion) and volume (Million Units) from 2018 to 2032, for the following segments:

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By Product type, (USD Billion; Million Units)

  • Wigs
    • Full Wigs
    • Partial Wigs 
  • Extensions
    • Pre-bonded Extensions
    • Weft Extensions

By Hair Type, (USD Billion; Million Units)

  • Human Hair
    • Remy hair
    • Non-Remy hair
    • Virgin hair
    • Processed hair 
  • Synthetic Hair
    • High quality synthetic fiber
    • Low quality synthetic fiber

By End-User, (USD Billion; Million Units)

  • Individual Consumers
    • Men
    • Women
    • Children 
  • Entertainment and Fashion Industry

By Distribution channel, (USD Billion; Million Units)

  • Online channels
    • E-commerce
    • Company websites 
  • Offline channels
    • Specialty Stores
    • Mega Retail Stores
    • Others (Departmental Stores, etc.)

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada 
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Malaysia       
    • Indonesia
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • Saudi Arabia
    • UAE
    • South Africa

 

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

Hair wig and extension industry size was USD 7.10 billion in 2023 and is anticipated to witness over 4.6% CAGR between 2024 and 2032 due to their increasing popularity in the beauty and fashion sector for offering individuals the opportunity to transform their look instantly
The human hair type segment reached USD 4.4 billion in 2023, attributing to their ability to render natural look to consumers.
The offline distribution channel segment held 57.4% of the hair wig and extension market share in 2023 due to the preference of consumers to physically try on and compare products
Some of the major hair wig and extension firms include Klix Hair Extensions, Evergreen Products Group Ltd., and Godrej Consumer Products Ltd.

Hair Wig and Extension Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 16
  • Tables & Figures: 228
  • Countries covered: 19
  • Pages: 250
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