Dublin, Jan. 09, 2024 (GLOBE NEWSWIRE) -- The "Hair Wig Market Forecast to 2030 - Global Analysis by Type; By End User; By Distribution Channel" report has been added to ResearchAndMarkets.com's offering.
The latest comprehensive analysis of the global hair wig market anticipates significant expansion through the year 2030. Insights from the study reveal a projected growth from an estimated US$ 3.65 billion in 2022 to US$ 5.10 billion by 2030. An impressive compound annual growth rate (CAGR) of 4.3% is expected to be seen over the period of 2022 to 2030. This growth trajectory underscores the rising consumer interest and demand in the hair wig sector, driven by both aesthetic preferences and the increasing instances of hair loss globally.
Fueled by the escalating concerns over hair loss, attributed to factors such as hereditary conditions, stress, and medical issues, the hair wig market has seen a pronounced demand. The impact of hair thinning and total hair loss has been felt by approximately 80 million individuals in the United States alone, boosting the market for hair wig solutions.
The market analysis categorizes hair wigs into two core segments: human hair and synthetic hair. Synthetic hair wigs are poised to dominate the market share throughout the forecast period. The affordability, variety, and low maintenance of synthetic wigs have contributed substantially to their elevated market status. While synthetic wigs offer the benefits of diverse styles and ease of application, the advent of "heat friendly" alternatives has now broadened the styling potential of these products without compromising their inherent benefits.
The geographical segmentation of the market presents North America as the primary stakeholder, showcasing a dominant market share extending into the forecast period. Home to numerous established and emergent hair wig companies, North America continues to innovate and cater to the evolving consumer demands for hair wigs. Recent market advancements, such as the introduction of the 'Textured Hair Wigs' collection in the US, exemplify the region’s innovative spirit and drive within the hair wig industry.
The market research identifies key players who are shaping the market landscape through product development and customer-centred strategies. Among those leading the charge are global entities like Evergreen Products Group Ltd, HairUWear Inc, and Indique Hair LLC, all contributing to the dynamic growth of the market.
This report lays the groundwork for stakeholders and industry enthusiasts to understand the intricacies of the hair wig market. The research leverages a combination of primary and secondary data sources, accompanied by multiple interviews with key industry participants to ensure the robustness of the findings and to offer a nuanced perspective on the market’s trajectory.
Hair Wig Market Analysis Highlights:
- Projected growth to US$ 5.10 billion by 2030 with a CAGR of 4.3%.
- Rising hair loss concerns globally to propel market demand.
- Synthetic hair segment to hold a significant market share.
- North America maintains its leadership with continuous innovations and new offerings.
For more information about this report visit https://www.researchandmarkets.com/r/m8jmps
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