Dublin, April 06, 2021 (GLOBE NEWSWIRE) -- The "Hair Wigs and Extensions Market - Global Outlook and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The global hair wigs and extensions market by revenue is expected to grow at a CAGR of over 13% during the period 2021-2026.
An increasing number of customers demanding hair extensions or wigs for beauty or functional purposes has been driving the market over the last few years. Native Africans and people of African descent are the largest consumers of hair wigs and extensions. Interestingly, the demand from these customers has always been nearly inelastic.
They spend substantially on chemical hair care products such as relaxers to smoothen and straighten their hair. The availability of high-quality wigs and toupees is encouraging a higher number of men from across the world to opt for these alternatives than for surgical procedures or hair transplants. The increased demand for premium-quality hair products is influencing manufacturers to set up production facilities in Asian countries, especially in China and India.
Moreover, the growth in per capita disposable incomes has increased discretionary spending, which has boded well for wigs and extensions manufacturers. The increase in hair fall rates across the world and the popularity of personal grooming and beauty products are other major factors likely to influence the market growth.
Insights by Geography
In 2020, North America dominated the global hair wigs and extensions market with a share of over 40%. The African and Caucasian descent population in the region is the major contributor to the sale of human and synthetic hair wigs. The US market is highly influenced by age groups. Customers that are less than 25 years use hair wigs and extensions mainly for functional purposes. Consumers in the age group of 35 to 44 years account for the largest market share.
In 2020, consumers in the age group of between 45 and 54 years constituted 22% of the market share. However, customers in the age group of over 54 years of age were the second-highest contributor in North America, accounting for the market share of 23% in 2020. This age group has the potential to become the leading target segment for hair wigs.
Insights by Vendors
The global hair wigs and extension market is highly competitive with increased competition, rapid advances in synthetic hair manufacturing technology, and evolving consumer preferences. At the regional level, the competition has intensified with innumerable vendors selling products with limited product differentiation.
The market is dominated by global vendors with players expecting to expand their presence worldwide during the forecast period, especially in fast-developing countries of APAC and Latin America, to gain more market share.
Key Questions Answered
1. What are the key factors and trends enabling the growth of the hair wigs and extensions market?
2. What is the impact of the COVID-19 on the hair extensions industry?
3. Which regions are likely to generate the highest demand for hair wigs and extensions during the forecast period?
4. What is the hair wigs and extensions market size and growth rate during the forecast period?
5. Who are the key players in the wigs and hair extensions industry?
Evergreen Product Group
Other Prominent Vendors
Anhui Jinruixiang Hair Product Co. Ltd.
AY Hair Products
Dan Choi's Remy New York
Diamond Hair Company
Diva Divine India
Femme Hair & Beauty
Hair Life India
Hair Visions International
His and Her Hair Goods
Human Hair Argentina
India Hair International (IHI)
Klix Hair Extensions
Locks & Bonds
Ruimei Hair Products
Shake-n-Go Fashion (SNG)
THE HAIR SHOP
True Indian Hair
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of The Study
4.4 Market Segments
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
7.2 COVID-19 Impact
8 Market Opportunities & Trends
8.1 Change In Middle-Class Spending Patterns
8.2 Image Makeovers In Urban Communities
8.3 Increasing Use Of Wigs In Fashion & Entertainment industry
9 Market Growth Enablers
9.1 Increasing Hair Fall Among Men & Women
9.2 Increasing Demand For False Hair As Beauty Accessory
9.3 Social Media Enabling New Demand
9.4 Increasing Demand From African Descent Consumers
10 Market Restraints
10.1 Highly Fragmented Market Impeding Profitability
10.2 Rising Expenses In Branding And Manufacturing
10.3 Disputes Over Hair Sourcing
10.4 Rising Prevalence Of Anti-Hair Loss Treatment
11 Market Landscape
11.1 Market Overview
11.2 Market Size & Forecast
11.3 Five Forces Analysis
12 Product Type
12.1 Market Snapshot & Growth Engine
12.2 Market Overview
13 Hair Extensions
13.1 Market Size And Forecast
13.2 Hair Extensions By End-Use
13.3 Hair Extensions By Fitting Type
13.4 Hair Extensions By Hair Type
14 Hair Wigs
14.1 Market Size And Forecast
14.2 Wigs By End-Use
14.3 Wigs By Cap Type
14.4 Hair Wigs By Hair Type
15.1 Market Size And Forecast
15.2 Toupee By Gender
15.3 Toupee By Hair Type
16 Hair Type
16.1 Market Snapshot & Growth Engine
16.2 Market Overview
16.3 Human Hair Type
16.4 Synthetic Hair Type
17.1 Market Snapshot & Growth Engine
17.2 Market Overview
17.3 Entertainment And Fashion Industry
17.4 Individual Consumers
18 Distribution Channel
18.1 Distribution Overview
19.1 Market Snapshot & Growth Engine
19.2 Geographic Overview
For more information about this report visit https://www.researchandmarkets.com/r/2e0knw
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