NEW YORK, Jan. 4, 2024 /PRNewswire/ — The hair wigs and extension market size is expected to grow by USD 5.90 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 9.34% during the forecast period. Technological advances in the production and design of synthetic hair wigs are notably driving the hair wigs and extension market. However, factors such as high labor costs associated with handwoven wigs may impede market growth. The market is segmented by distribution channel (Offline and Online ), product (Human hair wigs and extensions, and Synthetic hair wigs and extension), and geography (APAC, North America, Middle East and Africa, Europe, and South America).
Technavio has announced its latest market research report titled Global Hair Wigs and Extension Market 2023-2027
Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The sample report is available in PDF format
Key Segment Analysis
The market share growth by the offline segment will be significant during the forecast period. This distribution channel contains specialty stores like hypermarkets, supermarkets, convenience stores, clubhouse stores, and others. In addition, salons and spas are rapidly gaining popularity and demand among consumers with hectic work schedules. Hence, such factors are expected to continue during the forecast period and drive the offline segment. The adoption rate of hair wigs and extensions is anticipated to rise in APAC owing to the emergence of international players and evolving concepts of product differentiation during the forecast period.
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Geographical Market Analysis
The main contributors to the market in APAC are countries such as China, India, and Japan. In particular, for the US and Europe countries such as France, the UK or Germany, China, and India are major exporters of human hair. Furthermore, several market players such as Aderans, Shandong Elite, and Evergreen Products Group have established production facilities in countries such as China, India, Vietnam, and Bangladesh, owing to cheap labor costs and high proximity to the sourcing of human hair.
Company Insights
The hair wigs and extension market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market’s competitive landscape and offers information on several market companies, including:
Artnature Inc., Cha Cha Hair Products Ltd., Diva Divine Hair Extensions and Wigs, Donna Bella OpCo LLC, Evergreen Products Group Ltd., F.N. Longlocks, Godrej and Boyce Manufacturing Co. Ltd., Great Lengths Universal Hair Extensions Srl, Hair Visions International, Hairdreams Haarhandels GmbH, Hairlocs, India Hair International, Indique Hair LLC, Klix Hair Inc., Locks and Bonds, Racoon International Ltd., SalonLabs Exports India Pvt Ltd., Shake N Go Inc., Shandong Elite Hair Products Co. Ltd., and Aderans Co. Ltd.
View PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.
Related Reports:
The Hair Products Market size is estimated to grow at a CAGR of 4.12% between 2022 and 2027. The market size is forecast to increase by USD 19,431.34 million.
The hair styling products market in Europe is expected to rise to USD 1.43 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 4.87%.
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Hair Wigs And Extension Market Scope |
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Report Coverage |
Details |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 9.34% |
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Market growth 2023-2027 |
USD 5.90 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
8.5 |
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Regional analysis |
APAC, North America, Middle East and Africa, Europe, and South America |
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Performing market contribution |
APAC at 45% |
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Key countries |
US, Canada, Japan, China, and South Korea |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Artnature Inc., Cha Cha Hair Products Ltd., Diva Divine Hair Extensions and Wigs, Donna Bella OpCo LLC, Evergreen Products Group Ltd., F.N. Longlocks, Godrej and Boyce Manufacturing Co. Ltd., Great Lengths Universal Hair Extensions Srl, Hair Visions International, Hairdreams Haarhandels GmbH, Hairlocs, India Hair International, Indique Hair LLC, Klix Hair Inc., Locks and Bonds, Racoon International Ltd., SalonLabs Exports India Pvt Ltd., Shake N Go Inc., Shandong Elite Hair Products Co. Ltd., and Aderans Co. Ltd. |
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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. |
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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. |
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Distribution Channel
Market Segmentation by Product
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses 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