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Hair wigs and extension market size to grow by USD 5.26 billion from 2021 to 2026; Growth driven by technological advances in the production and design of synthetic hair wigs – Technavio

Hair wigs and extension market size to grow by USD 5.26 billion from 2021 to 2026; Growth driven by technological advances in the production and design of synthetic hair wigs – Technavio

NEW YORK, April 7, 2023 /PRNewswire/ — The hair wigs and extension market is estimated to grow by USD 5.26 billion between 2021 and 2026. The growth momentum will be progressing at a CAGR of 9.82% during the forecast period. The market is segmented by product (human hair wigs and extension and synthetic hair wigs and extension) and geography (APAC, North America, Middle East and Africa, Europe, and South America). To understand more about the hair wigs and extension market, request a sample report

The market growth in the human hair wigs and extension segment will be significant during the forecast period. Human hair wigs and extension provide better product quality and longevity compared to synthetic hair wigs and extension. The increased demand for ethically sourced human hair wigs and extension in European countries is expected to drive the growth of the segment during the forecast period.

Technological advances in the production and design of synthetic hair wigs and extension will drive the growth of the market. There have been significant improvements in terms of the aesthetics and design of synthetic hair wigs and extensions. Advanced fiber selection and design have made these wigs and extension lighter. They can also be styled using heating styling tools, offering better maneuverability to the user. In addition, these wigs and extension are available in a wide variety of colors. They are also cost-effective. Many such factors are driving the growth of the market in focus.

Hair Wigs and Extension Market Insights –

  • Vendors: 15+, including Aderans Co. Ltd., Artnature Inc., Diamond Hair Company LLC, Diva Divine Hair Extensions and Wigs, Donna Bella OpCo LLC, Evergreen Products Group Ltd., F.N. Longlocks, Great Lengths Universal Hair Extensions Srl, Hairlocs, HALOCOUTURE, India Hair International, Indique Hair LLC, Klix Hair Inc., Locks and Bonds, Papillon Hair World, Racoon International Ltd., Shandong AY Hair Products Co. Ltd., Sheen Wigs and Salon, The Gorgeous Hair, VLCC International LLC, among others
  • Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors
  • Segments: Product (Human hair wigs and extension and Synthetic hair wigs and extension) and geography (APAC, North America, Middle East and Africa, Europe, and South America)

Global Hair Wigs and Extension Market – Vendor Insights

The global hair wigs and extension market is fragmented due to the presence of several international and domestic players. Established vendors have a competitive advantage owing to their scale of operations and brand name. With increased consumer spending on premium hair wigs and extensions, the competition among vendors is increasing. This is leading to the launch of customized and innovative offerings. The compliance costs are low owing to minimal regulations. However, the capital-intensive nature of the market makes it difficult for new players to sustain themselves in the market. In addition, vendors are implementing various strategies such as new product launches and M&A to increase their market shares. Some of the key vendors covered in the report include:

  • Artnature Inc. – The company offers hair wigs such as tailor-made wigs and custom-made wigs.
  • Donna Bella OpCo LLC – The company offers hair wigs and extension products such as I-Link, Kera-Link, and Tape-In.
  • F.N. Longlocks – The company offers hair extension products such as Color 4 30 Tape In Hair Extensions, Color 6 Tape In Hair Extensions, and Color 8 Tape In Hair Extensions.
  • Great Lengths Universal Hair Extensions Srl – The company offers hair extension products such as GL ULTRASONIC TOUCH and GL 3200.
  • Aderans Co. Ltd.
  • Diamond Hair Company LLC
  • Diva Divine Hair Extensions and Wigs
  • Evergreen Products Group Ltd.
  • Hairlocs
  • HALOCOUTURE
  • India Hair International
  • Indique Hair LLC
  • Klix Hair Inc.
  • Locks and Bonds
  • Papillon Hair World
  • Racoon International Ltd.
  • Shandong AY Hair Products Co. Ltd.
  • Sheen Wigs and Salon
  • The Gorgeous Hair
  • VLCC International LLC

Global Hair Wigs and Extension Market – Market Dynamics

Major Trends – 

  • Growing prominence of celebrity and social media influencers
  • Technological advances in the production and design of synthetic hair wigs
  • Rising demand for premium human hair goods

Many brands are emphasizing brand exposure through endorsements by celebrities and social media influencers. Vendors are extending their reach to growing markets such as China and India by promoting their products through popular Hollywood and social media celebrities. Also, micro-influencers are increasingly being preferred by vendors owing to factors such as a highly engaged fanbase, lower promotional expense, high authenticity, and ease of marketing. This trend is expected to gain more momentum during the forecast period and positively influence market growth.

Key challenges – 

  • High labor costs associated with handwoven wigs
  • Growing threat from hair transplant surgeries
  • High entry barriers for new market entrants

The number of handwoven wig manufacturers has reduced over the years due to the growing shortage of experienced personnel and high labor costs. In addition, the manufacturing of wigs and extensions using human hair involves considerable production time and effort. It involves various processes, including the preparation of raw hair, segregation and removal of white and red hair, and cleaning and dyeing for non-black hair. Besides, high-density wigs require more time due to the knotting of more hair on the lace scalp. Many such factors increase the overall manufacturing cost of hair wigs, which is hindering the growth of the market.

Drivers, trends, and challenges have an impact on market dynamics, which can impact
businesses. Find more insights in a sample report!

The hair wigs and extension market report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as future prospects.

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What are the key data covered in this hair wigs and extension market report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the hair wigs and extension market between 2022 and 2026
  • Precise estimation of the size of the hair wigs and extension market and its contribution to the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the hair wigs and extension market industry across APAC, North America, Middle East and Africa, Europe, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information about vendors
  • Comprehensive analysis of factors that will challenge the growth of hair wigs and extension market vendors

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Hair Wigs and Extension Market Scope

Report Coverage

Details

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 9.82%

Market growth 2022-2026

USD 5.26 billion

Market structure

Fragmented

YoY growth 2021-2022 (%)

9.12

Regional analysis

APAC, North America, Middle East and Africa, Europe, and South America

Performing market contribution

APAC at 43%

Key countries

US, South Africa, Japan, China, and South Korea

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Aderans Co. Ltd., Artnature Inc., Diamond Hair Company LLC, Diva Divine Hair Extensions and Wigs, Donna Bella OpCo LLC, Evergreen Products Group Ltd., F.N. Longlocks, Great Lengths Universal Hair Extensions Srl, Hairlocs, HALOCOUTURE, India Hair International, Indique Hair LLC, Klix Hair Inc., Locks and Bonds, Papillon Hair World, Racoon International Ltd., Shandong AY Hair Products Co. Ltd., Sheen Wigs and Salon, The Gorgeous Hair, and VLCC International LLC

Market dynamics

Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Table of contents:

1 Executive Summary

  • 1.1 Market overview 
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem 
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition 
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis 
    • Exhibit 12: Market segments
  • 3.4 Market outlook: Forecast for 2021-2026 
    • Exhibit 13: Chart on Global – Market size and forecast 2021-2026 ($ million)
    • Exhibit 14: Data Table on Global – Market size and forecast 2021-2026 ($ million)
    • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
    • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

  • 4.1 Five forces summary 
    • Exhibit 17: Five forces analysis – Comparison between 2021 and 2026
  • 4.2 Bargaining power of buyers 
    • Exhibit 18: Bargaining power of buyers – Impact of key factors in 2021 and 2026
  • 4.3 Bargaining power of suppliers 
    • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
  • 4.4 Threat of new entrants 
    • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
  • 4.5 Threat of substitutes 
    • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
  • 4.6 Threat of rivalry 
    • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
  • 4.7 Market condition 
    • Exhibit 23: Chart on Market condition – Five forces 2021 and 2026

5 Market Segmentation by Product

  • 5.1 Market segments 
    • Exhibit 24: Chart on Product – Market share 2021-2026 (%)
    • Exhibit 25: Data Table on Product – Market share 2021-2026 (%)
  • 5.2 Comparison by Product 
    • Exhibit 26: Chart on Comparison by Product
    • Exhibit 27: Data Table on Comparison by Product
  • 5.3 Human hair wigs and extension – Market size and forecast 2021-2026 
    • Exhibit 28: Chart on Human hair wigs and extension – Market size and forecast 2021-2026 ($ million)
    • Exhibit 29: Data Table on Human hair wigs and extension – Market size and forecast 2021-2026 ($ million)
    • Exhibit 30: Chart on Human hair wigs and extension – Year-over-year growth 2021-2026 (%)
    • Exhibit 31: Data Table on Human hair wigs and extension – Year-over-year growth 2021-2026 (%)
  • 5.4 Synthetic hair wigs and extension – Market size and forecast 2021-2026 
    • Exhibit 32: Chart on Synthetic hair wigs and extension – Market size and forecast 2021-2026 ($ million)
    • Exhibit 33: Data Table on Synthetic hair wigs and extension – Market size and forecast 2021-2026 ($ million)
    • Exhibit 34: Chart on Synthetic hair wigs and extension – Year-over-year growth 2021-2026 (%)
    • Exhibit 35: Data Table on Synthetic hair wigs and extension – Year-over-year growth 2021-2026 (%)
  • 5.5 Market opportunity by Product 
    • Exhibit 36: Market opportunity by Product ($ million)

6 Customer Landscape

  • 6.1 Customer landscape overview 
    • Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

  • 7.1 Geographic segmentation 
    • Exhibit 38: Chart on Market share by geography 2021-2026 (%)
    • Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
  • 7.2 Geographic comparison 
    • Exhibit 40: Chart on Geographic comparison
    • Exhibit 41: Data Table on Geographic comparison
  • 7.3 APAC – Market size and forecast 2021-2026
    • Exhibit 42: Chart on APAC – Market size and forecast 2021-2026 ($ million)
    • Exhibit 43: Data Table on APAC – Market size and forecast 2021-2026 ($ million)
    • Exhibit 44: Chart on APAC – Year-over-year growth 2021-2026 (%)
    • Exhibit 45: Data Table on APAC – Year-over-year growth 2021-2026 (%)
  • 7.4 North America – Market size and forecast 2021-2026
    • Exhibit 46: Chart on North America – Market size and forecast 2021-2026 ($ million)
    • Exhibit 47: Data Table on North America – Market size and forecast 2021-2026 ($ million)
    • Exhibit 48: Chart on North America – Year-over-year growth 2021-2026 (%)
    • Exhibit 49: Data Table on North America – Year-over-year growth 2021-2026 (%)
  • 7.5 Middle East and Africa – Market size and forecast 2021-2026 
    • Exhibit 50: Chart on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
    • Exhibit 51: Data Table on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
    • Exhibit 52: Chart on Middle East and Africa – Year-over-year growth 2021-2026 (%)
    • Exhibit 53: Data Table on Middle East and Africa – Year-over-year growth 2021-2026 (%)
  • 7.6 Europe – Market size and forecast 2021-2026
    • Exhibit 54: Chart on Europe – Market size and forecast 2021-2026 ($ million)
    • Exhibit 55: Data Table on Europe – Market size and forecast 2021-2026 ($ million)
    • Exhibit 56: Chart on Europe – Year-over-year growth 2021-2026 (%)
    • Exhibit 57: Data Table on Europe – Year-over-year growth 2021-2026 (%)
  • 7.7 South America – Market size and forecast 2021-2026
    • Exhibit 58: Chart on South America – Market size and forecast 2021-2026 ($ million)
    • Exhibit 59: Data Table on South America – Market size and forecast 2021-2026 ($ million)
    • Exhibit 60: Chart on South America – Year-over-year growth 2021-2026 (%)
    • Exhibit 61: Data Table on South America – Year-over-year growth 2021-2026 (%)
  • 7.8 US – Market size and forecast 2021-2026
    • Exhibit 62: Chart on US – Market size and forecast 2021-2026 ($ million)
    • Exhibit 63: Data Table on US – Market size and forecast 2021-2026 ($ million)
    • Exhibit 64: Chart on US – Year-over-year growth 2021-2026 (%)
    • Exhibit 65: Data Table on US – Year-over-year growth 2021-2026 (%)
  • 7.9 Japan – Market size and forecast 2021-2026
    • Exhibit 66: Chart on Japan – Market size and forecast 2021-2026 ($ million)
    • Exhibit 67: Data Table on Japan – Market size and forecast 2021-2026 ($ million)
    • Exhibit 68: Chart on Japan – Year-over-year growth 2021-2026 (%)
    • Exhibit 69: Data Table on Japan – Year-over-year growth 2021-2026 (%)
  • 7.10 China – Market size and forecast 2021-2026
    • Exhibit 70: Chart on China – Market size and forecast 2021-2026 ($ million)
    • Exhibit 71: Data Table on China – Market size and forecast 2021-2026 ($ million)
    • Exhibit 72: Chart on China – Year-over-year growth 2021-2026 (%)
    • Exhibit 73: Data Table on China – Year-over-year growth 2021-2026 (%)
  • 7.11 South Africa – Market size and forecast 2021-2026
    • Exhibit 74: Chart on South Africa – Market size and forecast 2021-2026 ($ million)
    • Exhibit 75: Data Table on South Africa – Market size and forecast 2021-2026 ($ million)
    • Exhibit 76: Chart on South Africa – Year-over-year growth 2021-2026 (%)
    • Exhibit 77: Data Table on South Africa – Year-over-year growth 2021-2026 (%)
  • 7.12 South Korea – Market size and forecast 2021-2026
    • Exhibit 78: Chart on South Korea – Market size and forecast 2021-2026 ($ million)
    • Exhibit 79: Data Table on South Korea – Market size and forecast 2021-2026 ($ million)
    • Exhibit 80: Chart on South Korea – Year-over-year growth 2021-2026 (%)
    • Exhibit 81: Data Table on South Korea – Year-over-year growth 2021-2026 (%)
  • 7.13 Market opportunity by geography 
    • Exhibit 82: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

  • 8.3 Impact of drivers and challenges 
    • Exhibit 83: Impact of drivers and challenges in 2021 and 2026

9 Vendor Landscape

  • 9.2 Vendor landscape 
    • Exhibit 84: Overview on Criticality of inputs and Factors of differentiation
  • 9.3 Landscape disruption 
    • Exhibit 85: Overview on factors of disruption
  • 9.4 Industry risks 
    • Exhibit 86: Impact of key risks on business

10 Vendor Analysis

  • 10.1 Vendors covered 
    • Exhibit 87: Vendors covered
  • 10.2 Market positioning of vendors 
    • Exhibit 88: Matrix on vendor position and classification
  • 10.3 Aderans Co. Ltd. 
    • Exhibit 89: Aderans Co. Ltd. – Overview
    • Exhibit 90: Aderans Co. Ltd. – Product / Service
    • Exhibit 91: Aderans Co. Ltd. – Key offerings
  • 10.4 Artnature Inc. 
    • Exhibit 92: Artnature Inc. – Overview
    • Exhibit 93: Artnature Inc. – Business segments
    • Exhibit 94: Artnature Inc. – Key offerings
    • Exhibit 95: Artnature Inc. – Segment focus
  • 10.5 Diamond Hair Company LLC 
    • Exhibit 96: Diamond Hair Company LLC – Overview
    • Exhibit 97: Diamond Hair Company LLC – Product / Service
    • Exhibit 98: Diamond Hair Company LLC – Key offerings
  • 10.6 Diva Divine Hair Extensions and Wigs 
    • Exhibit 99: Diva Divine Hair Extensions and Wigs – Overview
    • Exhibit 100: Diva Divine Hair Extensions and Wigs – Product / Service
    • Exhibit 101: Diva Divine Hair Extensions and Wigs – Key offerings
  • 10.7 Donna Bella OpCo LLC 
    • Exhibit 102: Donna Bella OpCo LLC – Overview
    • Exhibit 103: Donna Bella OpCo LLC – Product / Service
    • Exhibit 104: Donna Bella OpCo LLC – Key offerings
  • 10.8 Evergreen Products Group Ltd. 
    • Exhibit 105: Evergreen Products Group Ltd. – Overview
    • Exhibit 106: Evergreen Products Group Ltd. – Business segments
    • Exhibit 107: Evergreen Products Group Ltd. – Key offerings
    • Exhibit 108: Evergreen Products Group Ltd. – Segment focus
  • 10.9 F.N. Longlocks 
    • Exhibit 109: F.N. Longlocks – Overview
    • Exhibit 110: F.N. Longlocks – Product / Service
    • Exhibit 111: F.N. Longlocks – Key offerings
  • 10.10 Great Lengths Universal Hair Extensions Srl
    • Exhibit 112: Great Lengths Universal Hair Extensions Srl – Overview
    • Exhibit 113: Great Lengths Universal Hair Extensions Srl – Product / Service
    • Exhibit 114: Great Lengths Universal Hair Extensions Srl – Key offerings
  • 10.11 Hairlocs 
    • Exhibit 115: Hairlocs – Overview
    • Exhibit 116: Hairlocs – Product / Service
    • Exhibit 117: Hairlocs – Key offerings
  • 10.12 India Hair International 
    • Exhibit 118: India Hair International – Overview
    • Exhibit 119: India Hair International – Product / Service
    • Exhibit 120: India Hair International – Key offerings

11 Appendix

  • 11.2 Inclusions and exclusions checklist 
    • Exhibit 121: Inclusions checklist
    • Exhibit 122: Exclusions checklist
  • 11.3 Currency conversion rates for US$ 
    • Exhibit 123: Currency conversion rates for US$
  • 11.4 Research methodology 
    • Exhibit 124: Research methodology
    • Exhibit 125: Validation techniques employed for market sizing
    • Exhibit 126: Information sources
  • 11.5 List of abbreviations 
    • Exhibit 127: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio

Originally published at https://www.prnewswire.com/news-releases/hair-wigs-and-extension-market-size-to-grow-by-usd-5-26-billion-from-2021-to-2026-growth-driven-by-technological-advances-in-the-production-and-design-of-synthetic-hair-wigs—technavio-301790766.html
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