Dublin, Oct. 15, 2019 (GLOBE NEWSWIRE) -- The "Hair Wigs and Extensions Market - Global Outlook and Forecast 2019-2024" report has been added to ResearchAndMarkets.com's offering.

Key Market Insights

  • The analysis of the hair wigs and extensions market provides market sizing and growth opportunities for the forecast period 2019-2024.
  • Offers market sizing and growth prospects of the hair wigs and extension market for the forecast period 2019-2024.
  • Provides comprehensive insights on the latest industry trends, market forecast, and growth drivers in the hair wigs and extensions market.
  • Includes a detailed analysis of market growth drivers, challenges, and investment opportunities.
  • Delivers a complete overview of market segments and the regional outlook of the hair wigs and extensions market.
  • Offers an exhaustive summary of the vendor landscape, competitive analysis, and key market strategies to gain a competitive advantage in the hair wigs and extensions market.

The global hair wigs and extension market is expected to grow at a CAGR of over 8% during the period 2018-2024.

The urge to improve the physical appearance is another major factor driving the hair wigs and extensions market worldwide. The rise in income levels has pushed people to increase spend on personal grooming and beauty products, which, in turn, is boosting the end-user confidence to invest in personal grooming, including hairs wigs and extensions. The hair care segment accounted for 18% of the total revenue of the global beauty market in 2017 and was the second-largest segment after skincare.

There is a visible shift in middle-class spending patterns, which is likely to affect the global hair wigs and extensions market. In China and India, the middle-class population accounts for a major share of the hair wigs and extensions market and is growing faster in the European and North American regions, where the population of the middle class has stagnated, but their median income has increased significantly. Therefore, with the rise in the disposable income in the middle-class population, their standard of living and shopping modes are rapidly changing, thereby affecting the grooming market.

The following factors are likely to contribute to the growth of the hair wigs and extension market during the forecast period:

  • Growing Demand from Consumers of African Descent
  • Middle-Class Population to Lead Market Demand
  • Rising demand for Beauty and Lifestyle Accessories
  • Increased Demand with Social Media as Enabler

Market Segmentation

This market research report includes detailed market segmentation by Type, Material, End-user, Distribution Channel, and Geography.

The global hair extensions market is expected to reach over $5 billion by 2024. The increasing acceptance of hair extensions among global celebrities and actors is a key driver for the growth of the segment. In terms of revenue, hair wigs have found the highest adoption in the entertainment and fashion industry. The growth in traction alopecia, especially in the African-originated population, is a major factor driving the wigs market.

The price of hair wigs and extensions made from synthetic hair is less than human hair, hence increases the affordability among consumers. China is the leading manufacturer of human hairs wigs and extensions. The human hair wigs and extensions market is expected to grow due to the decrease in the cost of human hair. However, this is also beneficial for manufacturers as they can source human hair at better prices.

Hair wigs and extensions are mainly sold through online channels and retail distribution channels. The products are also available to end-users through online shopping websites as well as online direct-to-consumer stores. There is an emerging trend of promoting wigs and hair extensions on social media platforms. These platforms have also integrated shopping capabilities, which allow several influencers and hairstylists to sell wigs and extensions online.

Vendors in countries such as the US and the UK primarily sell their products in dedicated and beauty stores, hypermarkets, and online general marketplace platforms. The sale of hair wigs and extensions through retail stores, hypermarkets, and fashion stores has always been the norm across the globe. Although the trend of selling online has been increasing in recent years, a significant share of hair wigs and extensions distribution takes place through specialty stores, hair salon and beauty stores, and hair clinics.

The entertainment and fashion industry has become crucial for hair wigs and extensions products both in terms of revenue and adoption. Production and fashion houses require to stock several wigs for actors and models as they are performing different roles and characters. In regions such as Africa, Latin America, and several emerging countries, hair wigs account for a larger share than hair extensions.

The rise in hair ailments among people is aiding the market to grow at a steady pace. The number of people suffering from hair loss at some level is increasing. With the growing number of people with hair loss and baldness, many people are choosing surgical or non-surgical options to regain hair.

Key Vendor Analysis

The customer demand has steered the global hair wigs and extensions market. Manufacturers have been introducing new products according to the prevailing fashion trends. However, this has not been able to increase the demand for wigs and hair extensions among customers over time. The market demand is primarily driven by new trends showcased by celebrities on social media. India is the largest supplier of human hair, and the business is highly concentrated on the supply side.

As of now, the global hair wigs and extensions market is dominated by domestic players, including small-scale proprietorship firms. Several local players are expected to expand their presence worldwide during the forecast period, especially in APAC and Latin America, which are the fast-developing economies. Besides, improving global economic conditions are likely to fuel the growth of the market, making it an attractive time for the launch of new products.

An intensely competitive environment is expected to emerge during the forecast period because of the immensely growing popularity of hair wigs and extensions across the globe, thereby driving the demand for global hair wigs and extensions market.

Key Topics Covered

1 Research Methodology

2 Research Objectives

3 Research Process

4 Scope and Coverage
4.1 Market Definition
4.1.1 Inclusions
4.1.2 Exclusions
4.2 Base Year
4.3 Scope of the study
4.4 Market Segments
4.4.1 Market Segmentation by Type
4.4.2 Market Segmentation by Material
4.4.3 Market Segmentation by End-user
4.4.4 Market Segmentation by Distribution Channel
4.4.5 Market Segmentation by Geography

5 Report Assumptions and Caveats
5.1 Key caveats
5.2 Currency Conversion
5.3 Market Derivation

6 Market at a Glance

7 Introduction
7.1 Overview
7.2 Global Economic Improvement to Aid Market Growth

8 Market Dynamics
8.1 Market Growth Enablers
8.1.1 Increasing Hair Loss Among Men and Women
8.1.2 Rising demand for beauty and lifestyle accessories
8.1.3 Increased Demand with Social Media as Enabler
8.1.4 Rising Demand from Consumers of African Descent
8.2 Market Growth Restraints
8.2.1 Highly Fragmented Market Hindering Profit Scalability
8.2.2 Increasing branding and manufacturing expenses
8.2.3 Controversies over Hair Sourcing Posing Adoption Issues
8.3 Market Opportunities and Trends
8.3.1 Middle-Class Population to Lead Market Demand
8.3.2 Urban Settlements Forcing Image Makeovers
8.3.3 Rising Adoption of Wigs in Fashion and Entertainment

9 Global Hair Wigs And Extensions Market
9.1 Market Size and Forecast
9.2 Five Forces Analysis
9.2.1 Threat of New Entrants
9.2.2 Bargaining Power of Suppliers
9.2.3 Bargaining Power of Buyers
9.2.4 Threat of Substitutes
9.2.5 Competitive Rivalry

10 By Product Type
10.1 Market Snapshot and Growth Engine
10.2 Market Overview
10.2.1 Key Points:
10.2.2 Market by Product Type (Revenue)

11 Hair Extensions
11.1 Market Size and Forecast
11.1.1 Market by Geography
11.2 Hair Extensions by End-use
11.2.1 Lengthening and Volumizing
11.2.2 Coloring
11.2.3 Styling
11.3 Hair Extensions by Fitting Type
11.3.1 Clip-in
11.3.2 Micro Link or Fusion
11.3.3 Tape-in
11.3.4 Glue-in or Bonded

12 Hair Wigs
12.1 Market Size and Forecast
12.1.1 Market by Geography
12.2 Wigs by End-use
12.2.1 Leisure
12.2.2 Beautification
12.2.3 Functional
12.3 Wigs by Cap Type
12.3.1 Monofilament
12.3.2 Lace

13 By Material
13.1 Market Snapshot and Growth Engine
13.2 Market Overview
13.2.1 Key Points:
13.2.2 Hair Wigs and Extensions Market by Material (Revenue)
13.3 Human Hair Type
13.3.1 Market Size and Forecast
13.3.2 Human Hair Sourcing
13.3.3 Market by Geography
13.4 Synthetic Hair Type
13.4.1 Market Size and Forecast
13.4.2 Market by Geography

14 By End-User
14.1 Market Snapshot and Growth Engine
14.2 Market Overview
14.2.1 Key Points:
14.2.2 Market by End-user (Revenue)
14.3 Entertainment and Fashion Industry
14.3.1 Market Size and Forecast
14.3.2 Market by Geography
14.4 Individual Consumers
14.4.1 Market Size and Forecast
14.4.2 Market by Geography

15 By Distribution Channel
15.1 Distribution Overview
15.1.1 Manufacture, Production, And Distribution
15.1.2 Distribution Through Retail Stores
15.1.3 Distribution Through Online Websites

16 By Geography
16.1 Market Snapshot and Growth Engine
16.2 Overview

17 North America


19 Europe

20 Middle-East & Africa

21 Latin America

22 Competitive Landscape
22.1 Competition Overview
22.2 Strategic Recommendations

23 Key Company Profiles
23.1 Godrej
23.1.1 Business Overview
23.1.2 Major Product Offerings
23.1.3 Key Strategies
23.1.4 Key Strengths
23.1.5 Key Opportunities
23.2 Great Lengths
23.3 Evergreen Product Group

24 Other Prominent Vendors
24.1 Indique
24.1.1 Business Overview
24.1.2 Product Offerings
24.2 India Hair International (IHI)
24.3 Indo Hair
24.4 FN Longlocks
24.5 Diamond Hair Company
24.6 Charm Hair
24.7 AY Hair Products
24.8 Diva Divine India
24.9 Aderans
24.10 Artnature
24.11 Hair Zone
24.12 Shake-n-Go Fashion (SNG)
24.13 Rebecca
24.14 Anhui Jinruixiang Hair Product
24.15 Hairdreams
24.16 Easihair Pro
24.17 Donna Bella
24.18 SO.CAP.
24.19 Ruimei Hair Products
24.20 Hair Visions International
24.21 Just Extensions
24.22 Dan Choi's Remy New York
24.23 The Hair Shop
24.24 Balmain Hair
24.25 Human Hair Argentina
24.26 Aleriana Wigs
24.27 Hair Life India
24.28 Bloomsbury Wigs
24.29 beaudiva
24.30 OMG Queen
24.31 Cheapwigsales
24.32 Lush Wigs
24.33 RichFeel
24.34 Woven Hair
24.35 Madali
24.36 Bellami Hair
24.37 Mayvenn
24.38 True Indian Hair
24.39 TSD Hair
24.40 Glam Seamless
24.41 His and Her Hair Goods
24.42 Wigs & Plus
24.43 YH Hair

For more information about this report visit https://www.researchandmarkets.com/r/aafuzb

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

CONTACT: ResearchAndMarkets.com
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900