Hair Wigs and Extensions Market – Trends Forecast Till 2030

Market Snapshot

Market Overview

The global Hair Wigs and Extensions Market size is projected to reach a CAGR of 8.7% from 2023-2030.

Artificial hair integrations include hair wigs, hair extensions, and hair weaves. Hair wigs are available in the form of a cap and are used to cover the entire head to change the hairstyle and conceal baldness. Hair loss can result in complete or partial baldness as a result of various medical disorders and hormones, leaving people self-conscious about their appearance. As a result, the demand for hair implants has risen dramatically. Animal hair, human hair, synthetic fiber, Futura, virgin hair, or a combination of these materials are used to make hair alterations. Jute fibers were used to make imitating hair for theatrical wigs in the early 1990s, but as trends changed, the raw material varieties also expanded: animal hair, human hair, synthetic fiber, Futura, virgin hair, or a blend of these materials.

Technological advancements in the production and design of synthetic hair wigs are one of the primary drivers driving growth in the hair wigs and extension market. Another key element driving the growth of the hair wigs and extension industry is the increasing importance of celebrities and social media influencers. The expanding popularity of digital media as a significant communication and marketing channel for vendors in the global hair wigs and extension industry has been aided by the rapid global adoption of Internet-enabled smartphones. Hair extensions are mostly used to conceal hair breakage. As a result of the increased occurrence of hair loss, alopecia, casts, and other conditions, the market for hair wigs and extensions is predicted to grow.

On the other hand, the increased competition and the stiffness of the product are further projected to impede the growth of the hair wigs and extension market in the targeted period. However, the availability of raw materials and the growing use and maintenance of hair extensions might further challenge the growth of the hair wigs and extension market shortly.

The pandemic of COVID-19 has had a huge impact on the hair wigs and extension market. The hair wigs and extension sector has been harmed by the COVID-19 pandemic's lockdown scenario. Sales and revenue were all down, as were raw materials, distribution routes, and export and import. The hair integration industry had a very limited supply of raw materials. Retail outlets and distribution channels had been shut down. However, in the post-COVID scenario, the hair wigs and extension market is further projected to be significantly impacted.

Delvens Industry Expert's Standpoint

The growth of the global hair wigs and extension industry is the growing influence of celebrities and social media influencers. As digital media has become an increasingly important communication and marketing channel for vendors in the industry, the rapid adoption of Internet-enabled smartphones across the globe has further aided its expansion. However, the hair wigs and extension market is projected to face challenges in the targeted period due to increased competition and stiffness of the products, which could impede the market's growth.

Market Portfolio

Key Findings

• Artificial hair integrations include hair wigs, hair extensions, and hair weaves. Hair wigs are available in the form of a cap and are used to cover the entire head to change the hairstyle and conceal baldness. Hair loss can result in complete or partial baldness as a result of various medical disorders and hormones, leaving people self-conscious about their appearance. As a result, the demand for hair implants has risen dramatically.
   
• Technological advancements in the production and design of synthetic hair wigs are one of the primary drivers driving growth in the hair wigs and extension market. Another key element driving the growth of the hair wigs and extension industry is the increasing importance of celebrities and social media influencers. The expanding popularity of digital media as a significant communication and marketing channel for vendors in the global hair wigs and extension industry has been aided by the rapid global adoption of Internet-enabled smartphones. Hair extensions are mostly used to conceal hair breakage. As a result of the increased occurrence of hair loss, alopecia, casts, and other conditions, the market for hair wigs and extensions is predicted to grow.
   
• The pandemic of COVID-19 has had a huge impact on the hair wigs and extension market. The hair wigs and extension sector has been harmed by the COVID-19 pandemic's lockdown scenario. Sales and revenue were all down, as were raw materials, distribution routes, and export and import. The hair integration industry had a very limited supply of raw materials. Retail outlets and distribution channels had been shut down. However, in the post-COVID scenario, the hair wigs and extension market is further projected to be significantly impacted.
   
• The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. North America is holding the dominant share in the market during the forecast period of 2023-2030. The high expenses made by consumers on festive events such as Halloween is spiking the need for wig products and thus helping to strengthen the market growth. Likewise, the rising popularity of people participating in costume-based gatherings, including Zombie Walk, West Hollywood Carnival, Haunted Fest, and others, is assisting in heightened consumption rates.

Regional Analysis

North America to Dominate the Market

• North America is holding the dominant share in the market during the forecast period of 2023-2030.
   
• The high expenses made by consumers on festive events such as Halloween is spiking the need for wig products and is thus helping to strengthen the market growth. Likewise, the rising popularity of people participating in costume-based gatherings, including Zombie Walk, West Hollywood Carnival, Haunted Fest, and others, is assisting in heightened consumption rates.

Competitive Landscape

• Evergreen Products Group Ltd.
• Godrej Consumer Products Ltd.
• Artnature Inc.
• Aderans Co., Ltd.
• Donna Bella Hair
• F.N. Longlocks
• ALERIANA Wigs
• Klix Hair Extensions
• Indique Hair
• Shake-N-Go, Inc  

Recent Developments

• In June 2021: Waeve declares its plan to launch a set of six different wig styles 4 times a year.
   
• In April 2021, Evergreen Products Group Ltd. invested in a new product line of digital wigs with the use of non-fungible tokens technology. The group is working on the launch of an e-commerce platform i.e., direct-to-consumers (D2C), which enables them to try out the wigs before purchasing.

Reasons to Acquire

• Increase your understanding of the market for identifying the most suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
   
• Gain authentic and granular data access for Hair Wigs and Extensions Market to understand the trends and the factors involved in changing market situations.
   
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
   
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.

Report Scope