Portland, OR, March 16, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global hair extensions market was estimated at $2.9 billion in 2021 and is expected to hit $6.3 billion by 2031, registering a CAGR of 8.2% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $2.9 Billion |
| Market Size in 2031 | $6.3 Billion |
| CAGR | 8.2% |
| No. of Pages in Report | 378 |
| Segments Covered | Type, End Use, Fitting Type, Distribution Channel and Region |
| Drivers | Increasing use of hair extensions in the fashion & entertainment industry |
| Rising prevalence of hair diseases | |
| Increasing demand for hair products in urban areas | |
| Opportunities | Surge in the use of high-end grooming products |
| Restraints | Increasing knowledge of hair loss treatments |
Covid-19 Scenario:
- The COVID-19 pandemic had a significant impact on the hair extensions market due to disruptions in production and delays in the supply chain caused by government-mandated lockdowns and restrictions worldwide in the first half of 2020. This resulted in changes in consumer purchasing behavior in the beauty and personal care sectors.
- With the closure of retail stores, there was a rapid shift toward online distribution channels, which allowed manufacturers to maintain the growth of the market. During the pandemic, cosmetics businesses streamlined their supply chains and increased their online sales.
- As the global situation started to improve, the reopening of physical stores played a significant role in boosting product sales rapidly.
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The report offers a detailed segmentation of the global hair extensions market based on type, end use, fitting type, distribution channel and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based on type, the human hair extension segment held the largest share in 2021, accounting for nearly half of the global hair extensions market and would dominate the market in terms of revenue through 2031. However, the animal hair extension segment is estimated to witness the fastest CAGR of 9.0% during the forecast period. The synthetic hair extension segment is also studied in the report.
Based on end use, the professional segment contributed to nearly three-fifths of the global hair extensions market revenue and is projected to rule the roost by 2031. The personal segment, on the other hand, would display the fastest CAGR of 8.5% throughout the forecast period.
Based on fitting type, the clip-in segment held the largest share in 2021, garnering nearly half of the global hair extensions market revenue, and is expected to dominate by 2031. However, the glue-in segment would cite the fastest CAGR of 9.2% throughout the forecast period. The report also assesses the micro link and tape-in segments.
Based on distribution channel, the retail stores segment was the largest in terms of revenue in 2021, accounting for more than two-fifths of the global hair extensions market share and is likely to maintain its dominance during the forecast period. However, the supermarkets segment is expected to manifest the highest CAGR of 8.5% throughout the forecast period. The report also studies the e-commerce segment.
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Based on region, North America held the major share in 2021, garnering nearly half of the global hair extensions market revenue, and is projected to rule the roost by 2031. The Asia-Pacific region, however, would portray the fastest CAGR of 8.8% throughout the forecast period. The other provinces studied through the report include Europe, and LAMEA.
Leading players of the global hair extensions market analyzed in the research include Hairdreams Haarhandels GmbH, Great Lengths S.p.A Societa Benefit, Salon Labs Exports India Pvt Limited, Locks & Bonds, Evergreen Products Group Limited, Beauty Industry Group Inc, Perfect Locks LLC, Mayvenn, So Cap USA, Balmain Hair Couture, Hairlux, The Gorgeous Hair, Shake-N-Go, Inc, Jon Renau, and Hairlocs. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.
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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
