Seattle, WA, July 09, 2018 (GLOBE NEWSWIRE) -- The global synthetic lace front wigs market was valued at US$ 219.5 Million in 2017 and is projected to exhibit a CAGR of 11.01% over the forecast period (2018–2026).
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Key Trends and Analysis in the Synthetic Lace Front Wigs Market:
Low maintenance and cost-effectiveness of synthetic wigs is a major factor driving growth of synthetic lace front wigs market. According to Food and Drug Administration, synthetic hair is safe for hair transplantation after chemotherapy. Furthermore, increasing cases of hair thinning is another factor leading to high demand for synthetic wig supporting growth of the market. For instance, according to the data provided by the International Society of Hair Restoration Surgery (ISHRS) in 2012, around 35 million men, in the U.S. were affected by male pattern baldness. ISHRS is a global non-profit medical association and the leading authority on hair loss treatment and restoration.
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Key Market Takeaways:
- The market is expected to exhibit a CAGR of 11.01% during the forecast period (2018–2026), and this is attributed to increasing demand for the synthetic wig due to low maintenance and cost-effectiveness, globally.
- North America was the fastest growing region in the synthetic lace front wigs market in 2017 and is expected to retain this trend throughout the forecast period. Increasing penchant for synthetic wigs amongst millennials, owing to increasing focus on once aesthetic appeal is a major factor driving growth of the market in the region. Furthermore, in North America, rising prevalence of cancer is anticipated to support growth of the synthetic lace front wigs market. This is due to the fact that cancer treatment involves use of chemotherapy, which results in hair loss and thus, people prefer synthetic wigs for hair extensions. According to the data provided by American Cancer Society (ACS), in 2017, over 15.5 million Americans, were reported to be survived after chemotherapy treatment.
- Some of the major players operating in global synthetic lace front wigs market are Anhui Fortune Fashion Culture Co. Ltd., Henan Ruimei Hair Products Co. Ltd., Qingdao Urjoy Wigs Co. Ltd., Shake-N-Go Fashion, Inc., Yuzhou Shenlong Hair Products Co. Ltd., Bellami Hair, and Xuchang Dadi Industries Co. Ltd.
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