Dublin, Dec. 12, 2022 (GLOBE NEWSWIRE) -- The "Hair Wig and Extension Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Product Type (Wigs, Extension), By Hair Type (Human Hair, Synthetic), By Fitting Type, By End User, By Distribution Channel, By Region, Competition" report has been added to ResearchAndMarkets.com's offering.
Global hair wig and extension market is anticipated to project robust growth in the forecast period on account of increasing usage of hair wigs and extensions in combination with the occurrence of hair-related disorders among a large population, globally.
The market for hair wigs and extensions is expected to increase rapidly in the region over the next few years because of the shift in women's consumer trends toward high-quality items.
Additionally, it is predicted that the rise in per capita disposable income would provide chances for the market for hair extensions and wigs to expand in the coming years. Due to the problems with hair loss or damage, Asia-Pacific accounts for controlling share in global market for hair wigs and extensions.
The expansion of the hair wigs and extension market in the region will also be aided during the projected period by an increase in the population of working women and increased spending on grooming products. Due to the increase in beauty salons, North America is predicted to have significant growth in the market for hair wigs and extensions.
According to the American Hair Loss Association, 95% of men's hair loss is caused by androgenetic alopecia. Additionally, according to one of the articles published by the National Center for Biotechnology Information in 2021, nearly 50% of men and women have androgenetic alopecia.
Similarly, according to information from the International Society of Hair Restoration Surgery, 40% of males over the age of 35 report having some degree of hair loss. The high cost of hair extensions and wigs is a major factor that is anticipated to slow the industry's expansion.
Due to the problems with hair loss or damage, Asia-Pacific controls the market for hair wigs and extensions. The expansion of the hair wigs and extension market in the region will also be aided during the projected period by an increase in the population of working women and increased spending on grooming products.
Over 50% of the Africans wear wig or hair extension. As African natives with African ancestry tend to buy hair wigs and extensions the most. Surprisingly, these customers' demand has remained essentially constant throughout time. They spend a lot of money on chemical hair care treatments like relaxers to straighten and smooth their hair.
As per capita disposable incomes have increased, more expenses have benefited wig and extension manufacturers. The prevalence of personal grooming and beauty products, as well as an increase in hair loss rates globally, are additional significant factors that are likely to have an impact on market growth.
Rise in the Popularity of Prominent Celebrity and Social Media Influencers Fueling the Market Growth
The prominence of celebrities and social media influencers is one of the major factors fueling the rise of the hair wig and extension industry. The fast global usage of Internet-enabled smartphones have contributed to the growing popularity of digital media as a vital communication and marketing channel for vendors in the global hair wigs and extension industry.
Pop culture and the emergence of drag queens have contributed to the public perception of wigs as a form of beauty that should not be ashamed but rather appreciated. Additionally, money can be saved instead of spending money on blow drying, haircut, coloring, or styling.
Increase in Hair Diseases Incidence across the World Driving the Market Growth
The main purpose of hair extensions is to hide hair breakage. The demand for hair wigs and extensions is expected to rise because of the rise in alopecia, casts, and other conditions that cause hair loss. Additionally, the ageing population's increasing usage of wigs and extensions to hide the problem of baldness is anticipated to support market growth.
Rise in the Use of Wig in Mannequin and modelling Industry Driving the Market Growth
The rising popularity of using mannequin among the fashion outlets is positively influencing the growth of the hair wig and extension market.
Furthermore, the escalating demand for the product in the modelling industry is helping models to achieve certain looks and feel to help represent their outfits better is anticipated to have appositive impact in uplifting the demand of wig across the globe.
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the global Hair Wig and Extension market.
- Godrej Consumer Products Limited
- Evergreen Products Group Limited
- Aderans Co,Ltd
- Artnature Inc
- Donna Bella Hair Extensions
- Aleriana Wigs
- Diamond Hair Company
- Indique
- FN Longlocks
- Klix Hair Inc
Market Dynamics
Market Trends & Developments
- Availability of wigs and extension in different colors and style
- Versatile Human Hair Clips-In
- Use of Animal hair, Human hair, Different types of fibers
- Availability of premium quality products
- Rise in Pop Culture
Drivers
- Rise in the Popularity of Prominent Celebrity and Social Media Influencers
- Increase in Hair Diseases Incidence across the World
- Rise in the Use of Wig in Mannequin and modelling Industry
Challenges
- Negative Reaction due to the Weather Change
- High maintenance cost
Report Scope:
Hair Wig and Extension Market, By Product Type:
- Wigs
- Extension
Hair Wig and Extension Market, By Hair Type:
- Human Hair
- Synthetic
Hair Wig and Extension Market, By Fitting Type:
- Clip-In
- Micro Link
- Tape-In
- Glue-In
Hair Wig and Extension Market, By End User:
- Individual Consumer
- Entertainment & Fashion Industry
Hair Wig and Extension Market, By Distribution Channel:
- Offline
- Online
Hair Wig and Extension Market, By Region:
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- Italy
- France
- Spain
- United Kingdom
- Netherlands
- Poland
- Asia-Pacific
- China
- Japan
- India
- Indonesia
- Vietnam
- Malaysia
- South Korea
- Australia
- Middle East & Africa
- Saudi Arabia
- Egypt
- UAE
- Turkey
- South Africa
- South America
- Brazil
- Argentina
- Colombia
For more information about this report visit https://www.researchandmarkets.com/r/9fmzc4
