Pune, India, Oct. 19, 2022 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, the global hair extension market is set to gain impetus from the increasing utilization of premium and stylish grooming products by people as per various occasions to suit their appearances. Mandom Corporation, a Japanese cosmetics manufacturer, for instance, declared that in 2017, the company earned around 7.89 billion Japanese yen within the female grooming segment. The number is set to surge in the upcoming years. This information is given by Fortune Business Insights™ in a report, titled, “Hair Extension Market, 2021-2028.” As per the report, the market size was USD 2.35 billion in 2020. It is projected to grow from USD 2.38 billion in 2021 to USD 3.43 billion in 2028 at a CAGR of 5.3% in the forecast period.
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Hair Extension Market Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2021-2028 |
| Forecast CAGR | 5.3% |
| 2028 Value Projection | USD 3.43 Billion |
| Base Year | 2020 |
| Hair Extension Market Size in 2020 | USD 2.35 Billion |
| Historical Data | 2017-2019 |
| No. of Pages | 160 |
| Segments Covered | By Type, By End-User, By Region |
| Hair Extension Market Growth Drivers | Rising prevalence of hair loss and alopecia |
| Increasing geriatric population worldwide |
Fortune Business Insights™ lists out all the hair extension market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:
- Great Lengths Universal Hair Extensions Srl (Roma, Lazio, Italy)
- Balmain Hair Group B.V. (Netherlands)
- Hair Visions International (Florida, USA)
- Esqido (Toronto, Canada)
- CAP. Original USA (Florida, USA)
- Cinderella Hair (London, UK)
- Racooninternational (United Kingdom)
- Evergreen Products Group Limited (Hong Kong)
- Easihair Pro USA (United States)
- Hairlocs (California, USA)
Report Coverage-
The research report aims to analyze the market by considering contributions, prospects, and growth trends. It presents detailed profiles of every key player operating in the market to assess their core competencies in each segment. Besides, it would help our clients better understand the competitive developments, such as mergers & acquisitions, new product launches, joint ventures, and collaborations.
Drivers & Restraints-
Increasing Cases of Alopecia Areata to Augment Growth
Most of the people nowadays are using hair extensions to hide their hair damage issues. The surging prevalence of casts, alopecia, and hair loss is expected to drive the hair extension market growth in the near future. The National Alopecia Areata Foundation, for instance, mentioned that as of 2020, approximately 6.8 million people in the U.S. are suffering from alopecia areata. At the same time, the increasing usage of chemical-based shampoos would aid growth. However, these products can often cause hair breakage and headache. It may hamper their demand.
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COVID-19 Pandemic: Shutdown of Salons and Shortage of Raw Materials to Hinder Growth
The outbreak of the COVID-19 pandemic worldwide has affected numerous industries owing to strict lockdowns and shutdowns of companies. Hence, they are facing difficulties in closing their business deals and meeting their channel partners. It is anticipated to impact the hair extension industry severely. Also, the shortage of raw materials and the closure of spas and salons would also affect the usage of the product negatively. Our research reports will help you find the best strategy to take your business to a whole new level.
Segments-
Synthetic Segment Held 43.92% Share in 2020: Fortune Business Insights™
By type, the market is trifurcated into animal, human, and synthetic. Out of these, the synthetic segment generated 43.92% in terms of the hair extension market share in 2020. This growth is attributable to its ability to resist rainy and humid weather.
Regional Insights-
Rising Number of Beauty Salons in the U.S. & Canada to Help North America Grow
Geographically, North America stood at USD 0.83 billion in terms of revenue in 2020. This growth is attributable to the presence of numerous beauty salons in Canada and the U.S. According to the Small Business Development Center Organization, as of May 2020, in the U.S., there are 77,000 beauty salons and 4,500 barbershops. Asia Pacific, on the other hand, is set to remain at the forefront on account of the rising working women population in the region. This would further accelerate them to spend more on grooming products, including hair extensions.
Rеаѕоnѕ to Get thіѕ Rероrt:
- A qualitative and quantitative market study based on segmentation that includes both economic and non-economic factors
- Data on market value for each section and sub-segment
- Indicates the region and market segment that is likely to expand the fastest and dominate the market.
- The consumption of the product/service in each region is highlighted, as are the factors affecting the market within each region.
- The competitive landscape includes the top players' market rankings, as well as new service/product launches, collaborations, company expansions, and acquisitions made by the companies profiled in the last few years.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Overview of the Parent/Related Markets
- Industry SWOT Analysis
- Supply Chain and Regulatory Analysis
- Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Market Analysis and Insights (in Relation with COVID-19)
- Impact of COVID-19 on the Market
- Supply Chain Challenges due to the Pandemic
- Potential Opportunities to Support the Market during the Global Crisis
- Global Hair Extension Market Analysis, Insights, and Forecast, 2017-2028
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type (Value)
- Synthetic Hair Extension
- Human Hair Extension
- Animal Hair Extension
- By End-User (Value)
- Male
- Female
- By Region (Value)
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Type (Value)
TOC Continued…!
Competitive Landscape-
Key Players Focus on Acquisition Strategy to Strengthen Their Positions in Market
The global market contains a large number of companies that are presently striving to strengthen their positions globally. Hence, they are engaging in the merger and acquisition strategy with local salons and novel hair product manufacturers.
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Frequently Asked Questions (FAQs):
1. Is the Hair Extension Industry growing?
Answer: Fortune Business Insights states that the global market size was USD 2.35 billion in 2020 and is projected to reach USD 3.43 billion by 2028.
2. Who are the key players in the Hair Extension Market?
Answer: Great Lengths Universal Extensions S.r.L., Balmain Hair Group B.V., and Hair Versions International S.r.L. are significant players in the global market.
3. What are Key Factors Raising the Market?
Answer: The rising prevalence of hair diseases is the primary factor driving the growth of the market.
Read Related Insights:
Hair Styling Tools Market Assessment (2020-2027) | 3.7% CAGR to Generate a Revenue of USD 39.63 Billion by 2027
Hair Removal Products Market Worth USD 4.94 Billion at 4.3% CAGR by 2027; Owing to Rising Women Employment Rate in Europe, Says Fortune Business Insights™
Hair Wig Market to Hit USD 3.0 Billion by 2028; Increasing Hair Loss Problems to Augment Market Growth, Fortune Business Insights™
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