According to a market report, published by Sheer Analytics and Insights, The global hair extension market was valued at $7.3 billion in 2022 and it is expected to reach $22.2 billion at a CAGR of 11.8% between 2023 and 2032. Fashionistas are particularly careful about their style & look while attending public gatherings. Therefore, people use cutting-edge artificial hair integration products to create hairstyles that suit the occasion. In addition, the adoption of novel haircuts by consumers and shifting fashion trends are two further positive aspects driving demand and supply for the product. Additionally, as hair products are extremely helpful in covering split ends, maintaining hair density, and coloring the wig without affecting the root health, doctors and fashion experts now strongly advise using them. For instance, the Mayo Clinic, a U.S.-based medical facility, frequently advises its patients to conceal their hair loss difficulties by wearing fake wigs or other extension devices.
Restrictions on the export and import of the items also had a significant influence on the sector. Delays in the global shipment of goods caused significant losses for the enterprises involved in the sector. Due to the huge demand for hair extensions in the retail industry, several factors have contributed to this, including increased consumer spending on lifestyle goods, grooming products, and disposable income in developing nations like China, India, Brazil, and others. Moreover, hair extensions are becoming increasingly popular among end-users as a technique for upgrading their appearance. The growth of the hair extensions industry is now being driven by an increase in consumer expenditure on products that improve one's appearance and personality. To increase the sales of hair extensions, suppliers are working to make them accessible in every location.
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Furthermore, the sales of hair extensions are benefiting from the industry participants' tendency to product innovation. In the upcoming years, market growth for hair extensions is anticipated to be fueled by various factors, including the common occurrence of receding hairlines, alopecia, and others. Over the years, there has been a significant movement in the Asia-Pacific region's hair extension market. In the upcoming years, Asia-Pacific is anticipated to grow to be one of the major markets for hair extensions. The majority of the world's exports of human hair come from South Asian nations. The market in the region is dominated by China.
On the other hand, some factors would hinder market growth in the future. For instance, hair extension products frequently result in headaches and broken hair. It could limit their demand. Additionally, one of the things preventing the market for hair wigs and extensions from expanding is the high labor expenses associated with hand-woven wigs.
According to the study, key players dominating the global hair extension market are Artnature Inc (Japan), Aderans Co. Ltd (Japan), Balmain Hair Group (France), Bellami Hair (U.S), Cinderella Hair (U.S), Donna Bella Hair (India), Evergreen Products (China), FnLonglocks Hair Suppliers (U.S), Hidden Crown (Netherlands), Hair Dreams (Austria), Hairlocs (U.S), Klix Hair Extensions (U.S), Indique Hair (India), Racoon International (U.K), Socap Extensions (Italy), Shake-n-go (U.S), among others.
The Global Hair Extension Market – by Product Type:
The Global Hair Extension Market – by Gender Type:
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