Hair Wigs and Extension Market - Global Outlook and Forecast 2018-2023
The global hair wigs and extension market is estimated to reach revenues of more than $10 billion by 2023, growing at a CAGR of approximately 9% during 2017-2023.
The growing demand for high-end human-hair extensions and ultra-high-quality synthetic wigs across the European region will create new opportunities for leading manufacturers in the global market. The increase in per capita income and spending power among consumers will boost the revenues in the market.
The global hair wigs and extension market is driven by the rising interest for hair care products among men. The rapid urbanization and rising expendable livelihoods in rising economies such as India and China will boost sales in the global market. The market research report provides in-depth market analysis and segmental analysis of the global hair wigs and extension market by type, material, and geography.
The report considers the present scenario of global hair wigs and extension market and its market dynamics for the period 2018−2023. It covers a detailed overview of various market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyzes the leading companies and various other prominent companies operating in the global hair wigs and extension market.
Hair Wigs and Extension Market - Dynamics
The rising number of middle-class populations that are emerging as the next potential customers for the beauty industry is driving the growth of the global hair wigs and extension market. The urban population is the major driving force for the beauty industry and the primary end-user in the global hair wigs and extension market. The access to better amenities and superior infrastructure facilities are boosting the retail demand for beautiful looking hair and radiating skin in the global market. Celebrity fashion trends is another major catalyst to the growth and popularity of these products in the global market. The increasing efforts to improve physical appearances and a growing number of social media users will create lucrative opportunities for top players operating in the global market. The consumers in the developed market are buying wigs and extensions made of high-end human hair which are expensive than products made of synthetic hair in the market. The increase in income levels is enabling consumers to increase expenses on personal grooming and beauty products.
Hair Wigs and Extension Market - Segmentation
This market research report includes a detailed segmentation of the market by type, material, and geography. Extensions segment dominated the largest market share in 2017, growing at a CAGR of more than 9% during the forecast period. The extensive use of these products for grooming and functional purposes that also help increase the length and volume of the hair is one of the primary factors attributing to the growth of this segment in the global market.
Human hair segment occupied the majority market share in 2017, growing at a CAGR of around 9% during the forecast period. The increasing use of natural hair wigs by army and state officers in western countries including the US, UK, and Europe is driving the growth of this segment in the global market.
Market Segmentation by Type
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