The scope of our recent study on the "Hair Extensions Market Forecast to 2031 - Global Analysis - by Product Type, Source, Distribution Channel, and Geography" includes the factors fueling the hair extensions market growth, revenue estimation, and forecast, market share analysis, and the identification of significant market players and their key developments.
The hair extensions market size is projected to reach US$ 3.98 billion in 2023 to US$ 6.00 billion by 2031; it is estimated to register a CAGR of 5.3% from 2023 to 2031.
Improvement in quality of life, positive effects of personal care on self-esteem and social interaction, and gradual consumer shift toward luxury and premium self-grooming products, as well as rising incidence of hair fall, are a few factors propelling the growth of hair extensions market.
Europe and North America are significant markets for the styling industry, accounting for more than 60% of the cosmetics market combined. Hair care products are gaining huge traction among consumers amid the increasing prevalence of hair thinning, dryness, loss of volume, and other hair-related concerns.
African consumers and people of African descent are significant consumers of hair extensions. Studies reveal that black women are willing to spend double the amount on beauty and hair products than white women. Hence, the increasing adoption of self-grooming products among the global populace drives the global hair extensions market.
Unethical practices in the hair industry have given rise to prohibited activities such as the illegal sale of hair and the reduced remuneration of laborers working in the hair industry. The primary sale of hair comes from small agents and mediators who tour villages in countries such as China, India, and Eastern European countries, offering poverty-stricken women small payments to part with their hair.
According to recent research, individuals who face financial difficulties in low-income regions sell their hair. In India, various unethical practices related to selling of hairs are taking place. For instance, slum children are being misled into shaving their heads in exchange for toys; sometimes, husbands force their wives to sell their hair. In addition, even smugglers are engaged in the illegal trade of Indian-origin raw human hair to China via land routes. The smuggling through the land eliminates over 28% import duty while paying a pittance to children who segregate and isolate hair strains in raw and unprocessed human hair. Thus, all the aforementioned factors negatively impact the global hair extensions market.
North America accounted for a remarkable share of the hair extensions market in 2022. The hair extension companies operating in the region continuously enhance their overall business processes to meet the rising customer demands in the best possible way. Many domestic and international companies have a strong foothold in North America. SO.CAP.USA; Great Lengths Universal Hair Extensions S.p.A.; Cinderella Hair Extensions; easihair pro; Klix Hair Extensions; Locks & Bonds; Anhui Jinruixiang Hair Products Co., Ltd.; and Evergreen Product Group are among the key players operating in the North America hair extensions market.
Key manufacturers operating in the region focus on developing innovative and stylish hair extension to attract new consumers. This gives them a huge market growth opportunity in North American countries such as the US, Canada, and Mexico. The consumers in the region mainly focus on using advanced forms of hair extensions. Manufacturers in the region are investing heavily in the research and development of hair extensions, which is expected to boost its market in North America. For instance, in the past 15 years, Cinderella Hair has been at the forefront of the pre-bonded hair extension innovation, providing the finest cuticle 100% Remy human hair.
Based on product type, the fusion and pre-bonded segment is projected to register the fastest CAGR from 2023 to 2031. Fusion and pre-bonded hair extension are fused to the natural hair using various adhesives such as glue. Applying these extensions takes around 3-4 hours. A machine resembling a hot glue gun is used to primarily attach the hair extension to individual strands of natural hair. However, due to various chemicals in the glue, fusion and pre-bonded hair extension can cause breakage, hair loss, and scalp irritation. SO.CAP.The USA uses 100% European-type Remy human hair pre-bonded with 100% keratin tips to ensure a strong, healthy, and long-lasting bond.
The demand for hair extension in the entertainment and fashion industry is anticipated to grow significantly due to the increasing preference for hair extension among models and celebrities. The industry is anticipated to grow owing to the surge in the incidence of hair fall among women and men. Also, in terms of revenue, hair extension are highly adopted in the entertainment and fashion industry owing to rising incidence of alopecia. Further, the demand for hair extension in countries such as the US is mainly determined by celebrity trends. This factor influences the general population, and more and more people are demanding hair extension products. Sunny's Hair & Wigs, a retail store, has expanded to Phoenix and Atlanta since it started in Minneapolis in 1992. It has a vast client base in the entertainment industry.
The fashion and entertainment industry has become vital for the sale and adoption of hair extension products. Production and fashion houses stock numerous hair extension for models and actors since they perform distinguished roles and characters. The upsurge in hair ailments among consumers is also assisting the industry to grow at a uniform pace. The number of individuals suffering from hair fall is increasing rapidly, owing to which several people are choosing hair extensions. Thus, such factors are creating lucrative opportunities for the growth of the hair extensions market.
Based on geography, Europe held a significant market share in 2023. The UK is another major market for hair extensions and provides several lucrative opportunities to manufacturers and producers. The country is one of the world's biggest importers of human hair. The increasing interest of people in hair extension is anticipated to drive the market in the UK. In addition, the growing consciousness about appearance has created enormous opportunities for hair extension manufacturers to offer various products to their consumers. The rising consumer preference for premium and high-quality hair extension is further driving the market for hair extension in the UK.
Global Hair Extensions Market Breakdown - by Region
The report includes the segmentation of the global hair extensions market as follows:
The global hair extensions market is segmented based on product type, source, and distribution channel. Based on product type, the hair extensions market is divided into tape-in, fusion and pre-bonded, clip-in, weft, and others. In terms of source, the market is bifurcated into human hair and synthetic hair. By distribution channel, the market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others.
By geography, the market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The North America market is further segmented into the US, Canada, and Mexico. The hair extensions market in Europe is sub-segmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The Asia Pacific hair extensions market is further categorized into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in the Middle East & Africa is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The South & Central America market is further categorized into Brazil, Argentina, and the Rest of South & Central America.
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