Wilmington, Delaware, United States, Aug. 16, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global market for hair extensions was estimated to be worth a market valuation around US$ 2.5 billion in 2022. The market is anticipated to register a steady 5.7% CAGR from 2023 to 2031 and by 2031, the market is likely to gain US$ 4.4 billion.
Customers are becoming more and more self-conscious. They may experiment with new hairstyles and improve their appearance despite cutting their hair by using hair extensions. This has increased the demand for hair extensions, and this has in turn helped the market for human hair extensions become more well-known and offers a simple and inexpensive solution to rapidly modify a person's hairdo and appearance.
Hair extensions are a common technique to rapidly improve a person's appearance because they come in a range of styles as well as lengths, are able to produce a variety of appearances, and are becoming more and more popular.
Numerous hair extensions are made of synthetic materials, that are less dependable and unnatural-looking than those made of real hair.
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Key Findings of Market Report
- Hair extensions are a common technique to rapidly improve a person's appearance because they come in a range of styles and lengths, are capable of helping produce a variety of appearances, and are becoming more and more popular.
- Natural hair extensions are in high demand since they are more robust and last longer than the synthetic hair extensions.
- It is projected that North America would dominate the hair extension industry.
Market Trends for Hair Extensions
- Natural hair extensions are quite common since they are more enduring and may last longer than the synthetic hair extensions. Natural hair extensions are also more adaptable and are simpler to colour, curl, as well as style. These are a better option for people with sensitive scalps since they are lighter and more comfortable. They appear more natural and harmonize with the hair better.
- For individuals on a tight budget, natural hair extensions are a great choice. These extensions are more flexible and can be fashioned in many different ways, giving you more creative alternatives. They can last far longer than synthetic hair extensions. They can also be accentuated or colored for a more distinctive appearance.
Global Hair Extensions Regional Market Outlook
- North America is predicted to have a significant market share for hair extensions due to the existence of several salons and the rising need for hair styling goods. The industry is further fueled by the availability of a wide range of hair extension products in the area, including tape-in extensions, curly hair extensions, ponytail extensions, hand-tied extensions, as well as permanent hair extensions. A high degree of consumer awareness of hair styling goods is another factor in the area that promotes the buying of hair extensions.
- The market for hair extensions is growing as celebrity-inspired hairstyles become increasingly popular. Demand for hair extensions is also rising as a result of the strong emphasis on appearance. Customers are being influenced to buy more natural hair extensions by the current trends within the hair extension market, which include natural and organic items. Customers now have more options and flexibility because to the broad variety of textures, colors, and lengths available for hair extensions. This has boosted their appeal to buyers even more, advancing the market.
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Global Hair Extensions Market: Key Players
Research and development, product enlargements, and mergers and acquisitions are all part of the hair extensions business model. Leading market participants place a strong emphasis on product creation as a key marketing tactic. The market is quite competitive, with many major competitors both internationally and locally.
Great Lengths, Locks & Bonds, SalonLabs Exports India Private Limited, Hairdreams, Extensions Plus, Inc., Beauty Works, JON RENAU, Hairlocs, Evergreen Products Group Limited, and So Cap USA are important market participants in the hair extensions industry.
Some developments by the key players in the global market for hair extensions are:
- In 2022, HairOriginals opened Try-Before-You-Buy offline experience facilities in India. Customers may test out several hair products at the locations before making a purchase. The facilities additionally provide style pointers and suggestions from qualified experts. In order to expand its market and flourish, the firm plans to release more simple and innovative items based on the current demand.
- In 2022, Great Lengths unveiled a new line of hair extensions that not only lengthen hair but also provide various color effects without the need of chemicals.
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Global Hair Extensions Market Segmentation
- Type
- Synthetic Hair Extensions
- Natural Hair Extensions
- Fitting Type
- Clip-Ins
- Tape-Ins
- Halo
- Glue-ins
- Sew-ins
- Price
- Low
- Medium
- High
- End-user
- Individual
- Professional
- Distribution Channel
- Online
- Company-owned Websites
- E-commerce Websites
- Offline
- Hypermarket / Supermarkets
- Specialty Stores
- Other Retail Stores
- Online
- By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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