The North America hair extensions market is expected to grow from US$ 1,311. 99 million in 2021 to US$ 1,679. 35 million by 2028; it is estimated to grow at a CAGR of 3. 6% from 2021 to 2028. The demand for hair extensions in North America has been surging, owing to increase in awareness about celebrity fashion trends and elevated grooming and beauty activities.
New York, Aug. 30, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America Hair Extensions Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type, Source, End User" - https://www.reportlinker.com/p06103262/?utm_source=GNW
Caucasian consumers usually use hair goods for cosmetic reasons or to create a specific fashion image. Caucasian consumers of hair goods are majorly from North America and Europe, and they generally hold higher income than customers in other regions. They also pay more attention to the quality of their hair goods, and consequently human hair goods are in higher demand. Besides, hair loss among the populace is another factor anticipated to drive the hair extensions market. According to the American Academy of Dermatology Association, the common cause of hair loss is hereditary thinning or baldness which is also known as androgenetic alopecia. This condition affects approximately 80 million Americans — 50 million men and 30 million women. Further, rising disposable income, increasing urbanization, and changing lifestyle are further boosting the market growth. The high purchasing power of the consumers results in the rising demand for hair extensions. Moreover, several domestic and international companies have a strong foothold in the region. The demand for hair extensions is very high in North America, and the manufacturers & industrialists are waiting to take advantage of the situation to enlarge their business operations with improved economic conditions.
In case of COVID-19, North America, especially the US, witnessed an unprecedented rise in number of coronavirus cases, which led to the discontinuation of hair extensions manufacturing activities.Downfall of other consumer goods manufacturing sectors has subsequently impacted the demand for hair extensions during the early months of 2020.
Moreover, decline in the overall entertainment & fashion products manufacturing activities has led to discontinuation of hair extensions manufacturing projects, thereby reducing the demand for hair extensions.Similar trend was witnessed in other North American countries such as Mexico, Canada, Panama, and Costa Rica.
However, the countries are likely to overcome this drop in demand with the economic activities regaining their pace, especially in the beginning of 2021.
Based on end-user, the women segment led the North America hair extensions market in 2020.The female population is the major consumer of hair extensions, owing to availability of various styles, colors, and types of hair extensions.
Besides, the willingness to spend on high-quality hair extensions for enhanced appearance and rise in hair loss issues are anticipated to drive the demand for hair extensions among women.Further, in countries such as US, the demand for efficient human hair extension has increased enormously because approximately one out of every three American women worldwide suffer from some hair loss and the emotional distress it causes.
The growing consciousness about appearance among the female population is the other factor primarily expected to drive the hair extensions market.
The overall North America hair extensions market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast for the North America hair extensions market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the North America hair extensions market. Key companies operating in the market include Great Lengths Universal Hair Extensions S.p.A.; Balmain Paris Hair Couture; Easihair Pro; Klix Hair Extensions; Locks & Bonds; Anhui Jinruixiang Hair Products Co., Ltd.; Evergreen Product Group Limited; SO.CAP.USA; Barclaywolf Hair Extensions; and Cinderella Hair Extension.
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