San Francisco, 08 February 2024: The Report Hair Wigs And Extensions Market Size, Share & Trends Analysis Report By Product (Wigs, Extensions), By Hair Type (Human Hair, Synthetic Hair), By Region, And Segment Forecasts, 2023 - 2030

The global hair wigs and extensions market size is expected to reach USD 12.27 billion by 2030, expanding at 8.4% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. Increasing fashion consciousness, rising prevalence of hair loss, adoption of new technologies for enhanced product quality, and expanding e-commerce platforms facilitating global access are the major factors propelling market growth.

The online and e-commerce channel is most likely to outperform the offline distribution channels over the forecast period, with an increasing number of market players marking their presence online. The emergence of various e-commerce websites, such as Amazon, eBay, Sally Beauty, UNice, Luxy Hair, and Bellami Hair, is expected to act as a growth driver for the hair wigs & extensions market in the near future. The ease of ordering products through e-commerce websites and company portals has led manufacturers to sell their products exclusively through online channels.

The American Hair Loss Association states that androgenetic alopecia causes 95% of hair loss in men. Additionally, androgenetic alopecia affects approximately 50% of men and women, according to global research conducted by the National Centre for Biotechnology Information in November 2021. As people experience hair loss, they often seek solutions to mitigate its effects on their appearance and self-esteem. This growing concern about hair loss has led to an increased demand for hair wigs and extensions, which offer individuals an accessible and effective way to address hair-related issues and regain confidence.

Consumers value the capacity to tailor wigs and extensions according to their distinct preferences, including hair color, length, density, and cap design. Some manufacturers even offer online customization tools, enabling customers to craft their desired wigs by selecting hair length, style, and color. This personalized approach, exemplified by UPGRADE Inc., streamlines the process through an e-commerce platform that facilitates collaboration between customers and verified stylists, ensuring the fulfillment of unique wig requirements.

Furthermore, this growing demand for hair wigs and extensions is paralleled by collaborative efforts and government initiatives that strive to offer culturally sensitive and respectful options for cancer patients. For instance, the National Health Service (NHS) Trust has taken a proactive step by joining forces with a community hair salon to provide custom wigs tailored to cancer patients from diverse ethnic backgrounds. The impetus for this collaboration was rooted in patient feedback conveyed through the NUH's BAME Shared Governance group. This feedback underscored the significance of addressing the sense of indignity experienced by certain patients who, post-chemotherapy, had to wear generic blue wigs when leaving the hospital.

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Wigs have become a major driving force in fostering self-confidence and enhancing aesthetics, enabling remarkable transformations. They empower individuals to freely express themselves and explore various styles without any permanent changes. The surge of social media platforms such as Instagram and TikTok has ignited a wave of wig-related content, with renowned hairstylists divulging their styling tips and tricks. As a result, people are now more open to experimenting with vibrant colors and diverse styles, embracing the endless possibilities offered by hair wigs and extensions.

Hair Wigs And Extensions Market Report Highlights

• The demand for extensions is forecasted to expand at the fastest CAGR in the forecast period. Extensions offer the ability to add length, volume, and even different hair textures, catering to a wide range of customer preferences, which aligns with evolving fashion trends and a desire for customizable looks. As consumers seek quick transformations, extensions provide a non-permanent solution that complements their changing styles
• Human hair extensions and wigs dominated the global market demand in 2022. This is due to their natural appearance, superior quality, and adaptability to various styling techniques. Human hair extensions and wigs offer a remarkably authentic look and feel, closely resembling natural hair. This appeals to consumers seeking a seamless integration with their own hair, contributing to their widespread popularity
• North America was the biggest contributor to the market in 2022. The region's influence on global beauty and fashion trends has driven demand for hair wigs and extensions, as well as fostering a competitive environment that encourages innovation and product development, solidifying North America's leading position in the market

Hair loss is a widespread issue affecting both men and women globally. The rising prevalence of hair-related conditions, such as alopecia, is a major driver behind the growth of the hair wig industry. According to a study by the National Library of Medicine in April 2020, around 700,000 individuals in the U.S. suffer from alopecia areata, with women accounting for half of those cases. The increasing awareness and concerns about such conditions are contributing to the expansion of the industry.

The market for hair wigs & extensions is also driven by the widespread use of temporary hair loss solutions such as wigs, headscarves, and hats, especially among individuals undergoing chemotherapy due to cancer. Many governments worldwide have taken steps to support cancer patients in this regard. An example is the Government of Ireland's initiative unveiled in May 2022 by the Minister for Social Protection, Heather Humphreys. It involves a USD 546.21 grant to aid individuals experiencing hair loss due to illness. The grant specifically covers expenses for hairpieces, wigs, or replacements, and will be managed through the Department of Social Protection's Treatment Benefit Scheme. The focus of this grant is to provide support to individuals facing hair loss, particularly those undergoing cancer treatments.

The growing popularity of subscription-based models in the hair styling industry offers players a significant opportunity in this market. Manufacturers can capitalize on the rising product demand for a longer period and increase their customer base by providing excellent quality products on a regular basis.

Hair Wigs And Extensions Market Report Scope

For instance, U.S.-based Superhairpieces.com offers a hair system subscription program that is free of cost and can be customized as per requirement. The company offers different plans - 3 pieces a year, 4 pieces a year, 6 pieces a year, and 12 pieces a year - and supplies human hair wigs and extensions of various sizes and types, including regular hair, basic hair, premium hair, ultra-premium hair, and European hair.

As consumers increasingly prioritize sustainability and ethical lifestyle choices, players in the market are investing in research for safer materials, adopting eco-friendly practices, and enhancing waste management and recycling efforts. For instance, Rebundle's ReGen Hair Fiber is made from banana fibers and serves as a biodegradable alternative to plastic-based hair extensions. Manufacturers have been capitalizing on the need for sustainable hair styling solutions to meet the demands of eco-conscious consumers, build trust, and differentiate their brands.

The market for men's hair wigs and extensions is expanding as a result of men's increasing awareness of personal hygiene and routine grooming, as well as more product releases, celebrity endorsements, and greater disposable income. According to an article published by Medihair in July 2023, around 33% of women and 85% of men experience hair loss. About 95% of cases of male hair loss are caused by androgenetic alopecia or male pattern baldness. In addition, according to the International Society of Hair Restoration Surgery (ISHRS), an average of 396 people per member underwent non-surgical hair restoration procedures under the care of ISHRS physicians in 2021.

List of Key Players in Hair Wigs And Extensions Market

• Evergreen Products Group Limited
• Godrej Consumer Products Ltd.
• Artnature Inc.
• Aderans Co., Ltd.
• Donna Bella Hair
• F.N. Longlocks
• Aleriana SRL
• Klix Hair Extensions
• Indique Hair
• Shake-N-Go, Inc.