Pune, India, April 27, 2023 (GLOBE NEWSWIRE) -- The global human hair extension market size was valued at USD 4.06 billion in 2022. The market is projected to grow from USD 4.44 billion in 2023 to USD 7.90 billion by 2030, exhibiting a CAGR of 8.58% during the forecast period.
Human hair extensions can be dyed for a deeper color, washed, and styled with hot tools (straightened or curled). They can also be handled the same way a person would treat their own natural hair. Contrarily, synthetic hair extensions are frequently sun-sensitive and challenging to style or integrate with the user's original hair. Synthetic hair wigs and extensions also last less time than their genuine counterparts, which with proper care, can last up to a year or longer. According to numerous surveys, consumers often prefer natural hair to synthetic hair extensions due to the difficulties involved with the latter's installation (heat). Human hair extensions are widely used in hair wigs and extensions due to increased demand for natural hair on a global scale, as major market players concentrate on the launch of new products. On a broad scale, the fast-growing wig and extension market will increase the human hair extension market share in the upcoming years. Fortune Business Insights presents this information in their report titled "Global Human Hair Extension Market, 2023–2030."
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List of Key Players Profiled in the Human Hair Extension Market Report:
- Great Lengths (Italy)
- Balmain Hair Couture (France)
- Hairdreams Haarhandels GmbH (Austria)
- easihair pro (U.S.)
- Euro So. Cap. Srl. (Italy)
- Beauty Industry Group, Inc. (U.S.)
- Cinderella Hair Extension (U.S.)
- Hairlocs (U.S.)
- Klix Hair, Inc. (U.S.)
- UltraTress (U.S.)
- Racoon International (U.K.)
- Hair Addictionz (U.S.)
- FN Longlocks (U.S.)
- Viva Femina, Inc. (U.S.)
- Femme Extensions (U.S.)
Report Scope & Segmentation:
| Report Attributes | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 8.58% |
| 2030 Value Projection | USD 7.90 Billion |
| Market Size in 2022 | USD 4.06 Billion |
| Historical Data | 2019-2021 |
| No. of Pages | 211 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
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| Human Hair Extension Market Growth Drivers | Rising Prevalence of Hair Disorders Coupled with Rapidly Aging Population to Fuel Product Demand |
| Increasing Adoption of Remy Hair Paired with Positive Perceptions towards Indian Hair to Favor Market Expansion |
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/human-hair-extension-market-106648
Segments:
Demand for Clip-in Hair Extensions will Increase due to Consumers' Growing Preference for Inexpensive Items
The market is segmented based on type into clip-in hair extension, fusion & pre-bonded hair extension, tape-in hair extension, and others.
One of the most popular product categories internationally is clip-in hair extensions. Unlike the majority of other product types, clip-in hair extensions are hassle-free to remove and reapply as needed by the user. Users favor these extensions more because of how easy they are to install. On the user's scalp, tape-in hair extensions typically feel lighter than clip-in alternatives. Therefore, this product category is anticipated to witness more customer attention in the years to come.
Greater Focus on Marketing to Women Consumers to Promote Product Innovation
Based on application, female and male constitute the market segmentation.
In 2022, the female segment became the largest and is anticipated to expand significantly over the projected period. Despite the fact that men are more likely than women to experience hair loss problems, hair extensions have not yet gained widespread acceptance among men around the world. This is largely due to the fact that majority of hair extension brands have traditionally targeted female consumers when marketing their products. In the coming years, the multibillion-dollar Hollywood sector will present rich chances for hair extension brands to target the male market.
Changing E-Commerce Platform to Promote the Entry of New Companies into the Internet Market
The market is segmented into online and offline based on sales channel.
In recent years, business owners in the industry have built new websites to improve their online presence. For instance, the U.S.-based hair extension supplier SL Raw Virgin Hair introduced its first e-commerce app for iOS and Android devices in July 2021. The business gave customers nationwide access to buy its products through the new app.
COVID-19 Impact:
Product Demand has Dropped Significantly as a Result of the COVID-19 Pandemic
The COVID-19 pandemic has had a dual effect on product demand globally, most notably in 2020. The few vendors who shipped the raw materials to the western markets, including the U.S., gouged prices, making it difficult for industry players to sell their products without raising the final price. In 2020, international raw material suppliers across countries were not only unable to operate due to shipping and quarantines but also due to other factors. A significant worry that is anticipated to impede product sales in these nations in the near future is trade tensions and protectionism between China and Australia, the U.S., and other trading partners. Governments are expected to use trade protectionism shortly as a method or policy to ease social tensions or any unrest brought on by the COVID-19 pandemic's impact on employment and social disparities.
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Report Coverage:
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into the regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- Latest industry developments include product launches, partnerships, mergers, and acquisitions.
Drivers & Restraints:
Growing Hair Disorder Prevalence and Increasingly Aging Population to Drive Product Demand
Male Pattern Baldness (MPB), which affects about 25% of men with hereditary male pattern baldness before age 21, is a significant hair-related concern worldwide, according to the American Hair Loss Association (AHLA). According to the AHLA, 66% of men will have some degree of hair loss by the time they turn 35 and will have thinning hair before they turn 50. The percentage of people 65 and older is expected to rise from 15% in 2016 to nearly 25% by 2060, according to a report from the U.S. Census Bureau that was published in 2017 and amended in 2020. In the U.S., as in the global hair extensions market, a growing aging population also draws attention to the increased prevalence of hair problems, which will surge the product demand in the years to come.
On the contrary, hair extensions should only be used on special occasions, according to the American Academy of Dermatology (AAD), as they can tug on the wearer's hair and result in long-term hair loss. Such suggestions may influence how optimistic buyers are about buying hair extensions and impede the human hair extension market growth.
Regional Insights
North America Leads the Market by Building a Strong Brand Presence
In 2022, North America had the largest market. In order to build stronger brand recognition, American hair extension firms often only collaborate with well-known salons. For instance, the California-based Perfect Locks LLC, a U.S. hair extension manufacturer, only provides distribution options for reputable companies and salons. Additionally, the business demands that distributors continue to use the Perfect Locks name.
Competitive Landscape
Chief Strategies Driving Market Growth are International Expansion and Partnerships with Well-known Hairstylists
Key businesses are able to handle new market trends and acquire a competitive edge to reach new markets as they place a high priority on collaboration and partnership with hairstylists and industry experts. Throughout the projected period, product differentiation will be a major element influencing market dynamics and product sales.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Overview of the Parent Market
- Industry SWOT Analysis
- Supply Chain and Regulatory Landscape
- Recent Industry Developments - Mergers & Acquisitions, Product
- Launches, Expansions
- Market Analysis and Insights (in Relation with COVID-19)
- Impact of COVID-19 on the Market
- Supply Chain Challenges due to the Pandemic
- Potential Opportunities to Support the Market
- Market Analysis and Insights (in Relation with COVID-19)
- Global Human Hair Extension Market Analysis, Insights and Forecast, 2019-2030
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type
- Clip-in Hair Extension
- Fusion & Pre-Bonded Hair Extension
- Tape-in Hair Extension
- Others
- By Application
- Female
- Male
- By Sales Channel
- Offline Channel
- Online Channel
- By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Type
TOC Continued...!
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