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Technological advancements in hair extension and wig manufacturing are boosting the global market with a growing trend of hair colour and style customization across the globe. – Actual Market Research
Mar, 31
2023

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Technological advancements in hair extension and wig manufacturing are boosting the global market with a growing trend of hair colour and style customization across the globe. – Actual Market Research

 

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Hair extensions and wigs are hair enhancement products designed to improve the aesthetic appearance of one's hair. Hair extensions are hair strands that are attached to a person's natural hair to add length, volume, and/or colour. They can be made from either natural or synthetic hair, and are available in a range of types, such as clip-in, tape-in, sew-in, and fusion extensions. Wigs, on the other hand, are full or partial head coverings made of either natural or synthetic hair that can be worn for fashion or medical reasons. They can be customized to fit a person's head size, shape, and colour preference, and can be styled in various ways to suit the wearer's personal taste. Both hair extensions and wigs are used by people for a variety of reasons, including to enhance their overall appearance, conceal hair loss or thinning, or to quickly and easily change their hairstyle. The demand for wigs and hair extensions is driven by factors such as the increasing number of people suffering from hair loss due to factors such as stress, aging, and medical conditions. The market is also influenced by the growing popularity of hair extensions among celebrities and the fashion industry. In addition, technological advancements have led to the development of advanced and high-quality hair extensions and wigs that are more natural-looking and comfortable to wear.

According to the research report, “Global Hair Extensions & Wigs Market Research Report, 2028” published by Actual Market Research, the market is anticipated to reach market size of over USD 14 Billion by 2028, increasing from USD 8.82 Billion in 2022. The demand for hair extensions and wigs is increasing globally, driven by factors such as hair loss, thinning, and balding due to genetic, environmental, and lifestyle factors. Additionally, changing fashion trends and the desire for instant transformations in appearance are also driving demand. The increase in disposable income in many countries has led to a rise in demand for hair extensions and wigs. Consumers are willing to spend more on their appearance and are increasingly opting for high-quality hair enhancement products that can offer an instant transformation. Also, the increasing awareness of personal grooming and hygiene is driving demand for hair extensions and wigs. Consumers are more concerned about their appearance and are willing to invest in products that can enhance their looks and boost their confidence. The popularity of social media platforms and e-commerce websites has made it easier for consumers to find and purchase hair extensions and wigs from the comfort of their homes. Social media platforms have played a significant role in driving consumer awareness and interest in extensions and wigs.

There are also various types of hair extensions available in the market, such as clip-in, tape-in, and sew-in extensions, each with its own set of advantages and disadvantages. Moreover, there are different types of wigs, including human hair wigs, synthetic wigs, and lace wigs. The hair wigs and extensions industry is continuously evolving, and there are several new trends and innovations emerging in this space, such as hair replacement systems, hair toppers, and customized wigs. One recent development in the hair extension industry is the growing popularity of seamless tape-in extensions, which are easier to install and can be worn for a longer period of time. Additionally, there is an increasing demand for more sustainable and eco-friendly hair extensions made from natural materials. In the wig industry, there has been a growing trend towards more natural-looking wigs and hairpieces that are designed to mimic the look and feel of real hair. There has also been an increasing focus on creating wigs and hairpieces that are specifically tailored to the needs of individuals with medical hair loss conditions such as alopecia or undergoing chemotherapy. On the other hand, many hair toupee manufacturers are now using advanced techniques to create hairpieces that blend seamlessly with a person's natural hair, making it difficult to tell the difference between the hairpiece and the person's own hair. Additionally, there has been a growing trend towards customization in the hair toupee industry. Many manufacturers are now offering custom-made hairpieces that are tailored to the individual's head size, shape, and hair colour, allowing for a more natural-looking and comfortable fit. The wig segment is leading the global market in 2022.

The global hair extension and wig market is expected to continue growing in the coming years, driven by a combination of factors such as changing fashion trends, technological advancements, and increasing awareness of personal grooming. The global hair extension and wig market is segmented into several regions, including North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. Among them, North America is leading the market in 2022 with over 35% market share. The North American hair extensions and wigs market is driven by the increasing prevalence of hair loss and baldness among both men and women. Additionally, changing fashion trends and the desire for instant transformations are driving demand. The United States is the largest market in the region, as well in the global market. On the other hand, the European hair extensions and wigs market is driven by the increasing awareness of hair loss and thinning among the aging population. Consumers in Europe are willing to invest in high-quality hair enhancement products to maintain their appearance and self-esteem. The United Kingdom, Germany, and France are the largest markets in the region.

The Asia-Pacific hair extensions and wigs market is driven by the increasing disposable income of consumers in countries such as China and India. Additionally, the growing popularity of social media platforms and e-commerce websites has made it easier for consumers to purchase hair enhancement products. China, Japan, and India are the largest markets in the region. The South American hair extensions and wigs market is driven by the increasing demand for hair enhancement products among women. Changing fashion trends and the desire for longer and thicker hair are driving demand. For the Middle East and Africa, hair extensions and wigs market is driven by the increasing demand for hair enhancement products among women in countries such as Saudi Arabia, UAE, and South Africa. Consumers are willing to invest in high-quality hair enhancement products to maintain their appearance and self-esteem.

Based on the hair type, the human hair segment of the hair extension and wig market is expected to grow at a faster rate due to its natural appearance and high quality. Human hair extensions and wigs are made from real human hair, making them look and feel more natural than synthetic hair. They also offer a wider range of styling options, including colouring, straightening, and curling. On the other hand, the synthetic hair segment of the hair extension and wig market is also growing due to advancements in technology, which has led to the development of high-quality synthetic hair that looks and feels more natural than ever before. Synthetic hair extensions and wigs are made from synthetic fibres that are designed to mimic the texture and look of real hair. They are less expensive than human hair and require less maintenance. However, they offer less styling options, and they may not look as natural as human hair. However, there is also a growing trend towards blended hair extensions and wigs, which combine both human and synthetic hair to offer the best of both worlds. Blended hair extensions and wigs offer a more natural look and feel than synthetic hair while being more affordable than pure human hair.

The demand for hair extensions and wigs is growing across all end-user segments due to the changing lifestyle and increasing focus on personal grooming. The entertainment industry, including movies, television shows, and theater, heavily relies on hair extensions and wigs to create different looks for characters. Hair extensions and wigs are used to create realistic hairstyles for actors and actresses, and they are also used to create extravagant and unique looks for fantasy and sci-fi characters. In recent years, there has been a growing trend of celebrities wearing wigs and hair extensions on and off-screen, which has further increased the demand for these products. The fashion industry also heavily relies on hair extensions and wigs for models on the runway and in photo-shoots. Hair extensions and wigs are used to create dramatic and elaborate hairstyles that are not possible with natural hair. The fashion industry is always looking for new and innovative ways to style hair, which has led to the development of new hair extension and wig products and techniques. Celebrity endorsements have a significant impact on the hair extension and wig market. Many celebrities endorse different hair extension and wig brands, leading to increased sales and brand recognition. For example, in recent years, Kylie Jenner's endorsement of Bellami Hair Extensions led to a surge in demand for the brand. Advancements in technology have made it possible to create hair extensions and wigs that look and feel more natural than ever before. New techniques such as lace front wigs and 360 frontal wigs have revolutionized the industry, offering a more realistic and comfortable experience for wearers.

On the other hand, the individual end-user segment of the hair extension and wig market is growing due to the increasing demand for hair enhancement products among women and men who want to enhance their appearance. With the growing popularity of social media, there is an increasing desire to have a perfect look, which has led to a surge in demand for hair extensions and wigs. This segment is expected to continue to grow due to increasing awareness and availability of hair extensions and wigs. The salons and hair care centers hair extension and wig market is growing due to the increasing number of hair salons and hair care centers worldwide. Salons and hair care centers offer a wide range of hair enhancement services, including hair extensions, wigs, and hair treatments. The demand for hair extensions and wigs in salons and hair care centers is increasing due to the convenience they offer.
The sales channels for hair extensions and wigs are growing due to the increasing awareness and availability of these products. Based on the report, the market is segmented into two major channels including online and offline. Among offline sales channel, distributor sales refer to the sale of hair extensions and wigs to retailers or salons who then sell them to customers. Distributor sales are growing due to the increasing number of salons and hair care centers worldwide. Distributors offer a wide range of hair enhancement products to salons and hair care centers, including hair extensions, wigs, and hair treatments. The demand for hair extensions and wigs in distributor sales is increasing due to the convenience they offer to customers. However, the online sales channel for hair extensions and wigs is growing rapidly due to the increasing preference for online shopping among consumers. Online sales offer the convenience of shopping from home and the ability to compare products and prices before making a purchase. Many online retailers offer a wide range of hair enhancement products, including hair extensions, wigs, and hair treatments, making it easy for customers to find the products they need. The segment is growing with over 9% CAGR by 2023-28.