Global Hair Wigs and Extensions Market Size Estimated to be Worth USD 11.8 Billion By 2030, at 7.63% CAGR Rise: Statistics by Polaris Market Research

NEW YORK, Dec. 5, 2022 /PRNewswire/ -- Polaris Market Research recently published [115+ Pages] research report on "Hair Wigs and Extensions Market Share, Size, Trends, Industry Analysis Report, By Product (Wigs and Extensions); By Hair Type; By Region; Segment Forecast, 2022 - 2030" in its research database.

According to the [115+ Pages] research report, the global hair wigs and extensions market size & share was valued at USD 6.13 billion in 2021 and is projected to reach over USD 11.8 Billion By 2030, growing at a CAGR of 7.63% during the forecast period.

How Big is Hair Wigs and Extensions Market? How Much is Hair Wigs and Extensions Industry Worth?

• Overview

Hair wigs and hair extensions are artificial hair used to extend and recreate your natural hairstyle. Hair wigs cover the entire head and are available in the shape of cap. However, extensions give more volume to your hair but can't completely hide your frizz. Both wigs and hairpieces are either made of synthetic fibre or natural human hair. Wigs are recommended for hair loss or thin hair, while hair extensions are a great option for those with normal and healthy hair.

There are many lengths and colors available in wigs and hair extensions. Users can choose either of them according to their face, style as well as look that they are going for. The rising cases of hair-related issues, such as hair thinning, loss of volume, and alopecia globally, are supporting the growth of the hair wigs and extensions market. As per a study revealed by the National Library of Medicine U.S. in April 2020, about 70,000 people in the U.S. suffers from areata, out of which 50% are women.

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What Does the Report Include?

• Current status of the market
• Top companies operating in the market
• Import-Export policies regarding the products/services in the market
• Research and development activities
• Segmentation according to application, type, and geography
• Comparative study of the domestic and international prices of the products and services and related price fluctuations
• The market drivers and roadblocks
• The value and volume of submarkets, with respect to key regions

Some of the Top Companies in the Global Market Are:

• Evergreen Products
• Paula Young
• HairUWear
• Aderans Company Limited
• Donna Bella Hair
• Longlocks
• Ruimei Hair Products.
• Godrej Consumer Products
• ALERIANA Wigs
• Klix Hair Extensions
• Indique Hair
• Shake-N-Go

For Additional List of Players and Detail Information, Download a Report PDF Brochure

Growth Driving Factors

• Escalating demand for hair wigs and extensions is pushing the market growth

Easy availability of hair wigs and extensions in a variety of colors is expected to propel the market growth over the forecast period. E-commerce platforms and retail stores like hair salons and hairstylists majorly contribute to the market expansion across the world.  In the U.S. and the U.K., sellers sell their products through online platforms, beauty stores, and hypermarkets which is anticipated to flourish the hair wigs and extensions market sales. The rising demand for hair extensions among celebrities, social media influencers, and models across the growing entertainment and fashion industries is anticipated to positively influence the market expansion.

Moreover, several diseases, especially cancer, cause hair loss. Therefore, hair wigs and hair extensions are preferred, which is expected to fuel the hair wigs and extensions market demand. Growing investments in the manufacturing and chemical processing of synthetic hair is another factor boosting the hair wigs and extensions industry growth. In addition, growing shifts in the fashion industry, grooming awareness, and increasing baldness are some of the key market trends accelerating its growth.

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Segmental Analysis

• Wigs segment witnessed the largest hair wigs and extensions market share in 2021

Based on product, the wigs segment dominates the market and is anticipated to continue its dominance over the forecast period. This is because wigs look fashionable and are easy to wear. Thus, a wig made of human hair is becoming popular among consumers. Due to the easy availability, both men and women choose high-quality wigs instead of surgical methods and hair transplants. All these factors are driving the segment growth in the market.

Further, the hair extension segment is estimated to show faster growth over the foreseen period because it is gaining higher demand among women across the globe. Also, a surge in the use of hair extensions due to their easier availability fuels segment growth.

• Human hair sector is projected to dominate the market

In terms of hair type, the human hair category is expected to account for the largest revenue share in the market due to the high penetration of hair wigs in nations including North America and Europe. Also, the growing demand for hair wigs among millennials is propelling the segment of hair wigs and extensions market size. Brands such as Ellen Wille, JON RENAU COLLECTION, RENE OF PARIS, and others in the region offering these products through offline and online marketing channels. This is majorly fueling the segment growth in the market.

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Hair Wigs and Extensions Market: Research Scope & Analysis

Geographic Overview

• The demand in North America is anticipated to hold the significant market share

Based on geography, North America is projected to witness the largest revenue share over the assessment period owing to the increasing disposable income and the increase in the need to enhance physical appearance. Growing trend of a better standard of living coupled with an increase in preference for looking elegant during social interaction is the factor supporting the product demand.

Moreover, Asia Pacific is likely to register the fastest growth during the anticipated period. High prevalence of leading based in China, India, Vietnam, and Bangladesh is expected to create lucrative growth opportunities in the hair wigs and extensions market. In addition, cancer and other medical patients who receive chemotherapy experience an ample amount of hair loss which is predicted to drive the demand for hair wigs and extensions in the region.

Browse the Detail Report "Hair Wigs and Extensions Market Share, Size, Trends, Industry Analysis Report, By Product (Wigs and Extensions); By Hair Type; By Region; Segment Forecast, 2022 - 2030" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/hair-wigs-and-extensions-market

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Hair Wigs and Extensions Market Report Highlights

• Wigs segment is anticipated to grow rapidly over the forecast period owing to its growing popularity among millennials and Gen-Z population. Wigs are an easy solution to cope with baldness. Moreover, they protect natural hair against harm caused by chemicals.
• Extensions accounted for a major revenue share. The segment is accelerated owing to its ability to customize customers' desires by creating various hairstyles. Hair extensions will expand at an incredible rate as they can produce realistic-looking results, much like celebrity hairdos in magazines.
• Human hair segment is expected to dominate the market over the forecast period The high penetration of human hair wigs can be seen in North America and Europe due to its growing demand from the younger population. Various regions' brands provide human hair wigs, including Ellen Wille, RENE OF PARIS, etc. Hair is also donated for use by others for centuries, and the rising customer demand for thicker hair will prompt suppliers to source more human hair.

Polaris Market Research has segmented the hair wigs and extensions market report based on product, hair type, and region:

By Product Outlook

• Wigs
• Extensions

By Hair Type Outlook

• Human
• Synthetic

By Region Outlook

• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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SOURCE Polaris Market Research