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Global Hair Wigs and Extensions Market - Outlook and Forecast 2023-2028
The global hair wigs and extensions market is projected to exceed USD 19.12 billion by 2028, with a compound annual growth rate (CAGR) of 16.06% from 2022 to 2028. The United States leads the global market for hair wigs and extensions. These products can be made from either human hair or synthetic fibers that resemble human hair. The industry has experienced growth in recent years due to an increasing number of customers seeking hair extensions or wigs for cosmetic or practical purposes. The largest consumer group for hair wigs and extensions is native Africans and people of African descent.
Global demand for high-quality hair products has prompted manufacturers to establish production facilities in Asian countries, particularly China and India, where they can offer hair wigs and extensions at lower prices than international markets. The prevalence of thinning hair among African descent women, receding hairlines among men, and male pattern baldness is comparable to that in the United States and European nations.
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USD 7.8 billion in 2021
Product, End-user, Distribution Channel, and Geography
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High-quality wigs and toupees are encouraging men worldwide to consider them as alternatives to surgical procedures or hair transplants. Hair wigs are also extensively used in emerging economies. In countries like the US, the UK, France, and Italy, hair extensions make up a significant portion of the global hair wigs and extensions market. Southeast Asia and sub-Saharan Africa are expected to experience significant growth during the forecast period, while Latin America’s growth is anticipated to be slower compared to other emerging markets. As both developing and advanced economies experience GDP growth, China and India are projected to witness substantial growth in the usage and demand for hair wigs and extensions.
The trend of celebrities, actors, and models openly admitting to using hair wigs is important in the industry. This trend signifies a shift among users towards wearing wigs for non-functional reasons. The normalization of wig adoption and the removal of associated taboos are also facilitated by the support of social media platforms such as Instagram, which challenges conventional stigmas in the beauty and fashion industry. These factors have created unprecedented growth opportunities for the hair wigs and extensions market.
Hair loss is currently a significant health issue, with factors such as busy lifestyles and inadequate nutrient intake adversely affecting individuals. Hair thinning is more common among women, while conditions like alopecia, receding hairlines, and pattern baldness are more prevalent in men. Wigs were historically used during the industrial revolution by wealthy men and certain professionals like lawyers and judges. Presently, hair wigs and extensions are primarily used for cosmetic and practical purposes, contributing to the growth of the global market.
The increasing demand for hair products in urban areas is directly linked to the rising popularity of hair wigs and extensions. Additionally, peer pressure plays an indirect yet crucial role in driving industry growth. The desire to conform and keep up with peers is particularly common among women from affluent backgrounds, where individuals constantly strive to outdo others in terms of physical appearance and beauty trends. The prevailing trend in the global hair wigs and extensions market aligns with the concept of high-class beauty, where peers dictate beauty standards and hair makeover trends. Furthermore, the adoption of wigs and extensions has been facilitated by the influence of celebrities who wear them.
Scientists are continually developing innovative approaches to regenerate or replace lost hair. Various medications and treatments for hair loss prevention are increasingly being embraced by individuals. The demand for hair transplants on both the scalp and non-scalp areas is expected to rise as people become more concerned about their appearance. Minoxidil and Finasteride are the two most prominent medications used for anti-hair loss treatment. Hair transplants involve relocating hair follicles from DHT-resistant donor areas at the sides and back of the scalp to cover bald areas. It is estimated that the global hair transplant industry will reach a value of around USD 43 billion by 2028, which is anticipated to impact the growth of the hair wigs and extensions market.
The market is segmented based on various factors, including product, end-user, distribution channel, and geography.
Segmentation by Hair Extensions
End-use (Lengthening and Volumizing, Coloring, Styling)
Fitting Type (Clip-in, Micro Link, Tape-in, Glue-in)
Hair Type (Human, Synthetic)
Segmentation by Hair Wigs
End-user (Leisure, Beautification, Functional)
Cap Type (Monofilament, Lace)
Hair Type (Human, Synthetic)
Segmentation by Toupee
Gender (Men, Women)
Hair Type (Human, Synthetic)
Segmentation by Hair Type
Human Hair – Hair Sourcing, Product (Extensions, Wigs, Toupee, Synthetic)
Synthetic Hair – Product (Extensions, Wigs, Toupee)
Segmentation by End-users
Entertainment & Fashion Industry
Segmentation by Distribution Channel
Segmentation by Geography
North America – US, Canada
Europe – Germany, France, UK, Italy, Spain
APAC – China, Japan, India, South Korea, Australia
Latin America – Brazil, Mexico
Middle East & Africa – South Africa, UAE, Nigeria
The hair extensions segment is projected to be the largest in the global hair wigs and extensions market, accounting for a significant share of the market. It is expected to grow at a compound annual growth rate (CAGR) of 15.29% during the forecast period. Hair extensions are strands of human or synthetic hair that can be attached to existing hair for grooming and functional purposes. Synthetic hair extensions can be customized to the desired length, while extensions made of human hair must be collected in long strands. Nowadays, women are more open about using hair extensions as a routine fashion accessory, similar to makeup and earrings.
In 2022, the lengthening and volumizing segment dominated the global hair extensions market by end-use, followed by the coloring and styling segment. Different shades of hair extensions can be used to mimic colored hair and easily changed if the color does not match real hair or user preference. Men primarily use hair wigs such as toupees and hair pieces to conceal bald spots or other hair loss problems.
The global market for human hair wigs and extensions is anticipated to be the largest segment by hair type, growing at a CAGR of 15.46% during the forecast period. The human hair used to produce wigs and extensions is sourced from salons, Indian temples, and women in rural areas who sell their hair for money. Wealthy individuals often wear wigs made of human hair to enhance their appearance. Wigs have also been popular among army and state officers in the US, the UK, and Europe. Indian temple hair is highly valued for making extensions and full-length wigs due to its virgin and Remy qualities. Over the past few years, there has been an increase in non-Indian hair sources from Peru, Russia, and Brazil. The average price of human hair is gradually decreasing worldwide, which benefits manufacturers by allowing them to acquire human hair at better prices.
The use of hair wigs and extensions is prevalent among individual consumers, as well as the entertainment and fashion industry. However, the specific usage of these wigs and extensions varies according to different needs. The segment of individual consumers is expected to be the largest in the global hair wigs and extensions market by end-user. This segment includes end-users who purchase hair wigs and extensions from retailers or hair salons for personal use, resulting in a significant increase in demand.
In 2022, the entertainment and fashion industry accounted for a market value of USD 2.89 billion in the global hair wigs and extensions market. Movie production houses constitute the largest user group for wigs and extensions. The trend of celebrities, models, and social media influencers openly acknowledging their use of hair wigs and extensions has had a ripple effect in the industry and among individual consumers. The impact of new fashion trends on the industry has consistently resulted in increased revenues and positive outcomes among individual consumers.
Among the distribution channels, the segment of individual consumer industry is expected to dominate the global hair wigs and extensions market. Hair wigs and extensions are sold through various channels, including online platforms, physical stores, and sometimes intermediary parties such as hair salons and stylists.
North America holds the largest share in the global hair wigs and extensions market, accounting for 40.72% of the industry. In 2022, the market in North America was valued at USD 3.16 billion. US-based manufacturers have always experienced high demand for hair wigs and extensions made of both human hair and synthetic fibers. Historically, the demand has been driven by hair salons and beauty centers, but currently, hairstylist recommendations play a significant role in driving the demand for hair wigs. Additionally, the North American market can be segmented based on age groups, with customers under 25 years using hair wigs and extensions mainly for leisure and occasionally for covering hair loss. The largest market share belongs to consumers, both men and women, in the age group of 35 to 44 years.
According to data from medical associations, men in the US, the UK, and Asia start experiencing visible signs of hair loss and baldness around the ages of 21, 30, and 40, respectively. The global hair extensions industry is growing rapidly due to the desire to replicate celebrity hairstyles seen in magazines and movies.
The Asia-Pacific (APAC) region is the largest supplier of human hair used in the manufacturing of wigs and extensions. With its substantial population, APAC has enough hair supply to maintain its position as a major global hair supplier. The increasing demand for hair products in APAC has prompted manufacturers to establish production facilities in countries like China and India, offering hair wigs and extensions at lower prices compared to international markets. Consequently, APAC’s hair wigs and extensions market is expected to grow at a CAGR of 17.32% during the forecast period.
The global hair wigs and extensions market exhibits a high degree of fragmentation, with numerous manufacturers operating across significant markets. This industry is primarily driven by customer demand, prompting manufacturers to continually introduce new products that align with prevailing fashion trends. India stands out as the largest supplier of human hair, with a strong focus on the supply side. Various companies procure hair from temples, barber shops, and rural areas, which is then supplied to countries such as Myanmar, China, and Bangladesh. These manufacturers undertake processing, weaving, packaging, and selling of the hair. In addition, prominent vendors in India also cater to clients in regions including the US, the UK, and Africa.
The industry landscape is characterized by the presence of several international vendors alongside a few regional vendors. However, as international players expand their presence within the industry, regional vendors are likely to face challenges in terms of product offerings and customer base. Competition in the market is expected to intensify further due to increased emphasis on product and service elaboration, as well as technological innovations.
Key companies profiled in this report include Godrej, Great Lengths, Evergreen Product Group, Hairlocs, Klix Hair Extensions, Hair Visions International, Racoon International, Xuchang Penghui, Xuchang Shengtai, Yinnuohair, Xuchang Haoyuan, Cinderella Hair Extension, Locks & Bonds, Femme Hair & Beauty, Paula Young, Lord Hair, Bohyme, Indique, India Hair International (IHI), Indo Hair, FN LongLocks, Diamond Hair Company, Charm Hair, AY Hair Products, Diva Divine India, Aderans, Artnature, Hair Zone, Shake-N-Go Fashion (SNG), Rebecca, Anhui Jinruixiang Hair Product, Hairdreams, Easihair Pro, Donna Bella, SO.CAP., Ruimei Hair Products, Just Extensions, REMY NY, The Hair Shop, Balmain Hair, Human Hair Argentina, Aleriana, Hair Life India, Bloomsbury, Beaudiva, OMGQUEEN, CheapWigSales, RichFeel, Woven Hair, Madali, BELLAMI Hair, Mayvenn, True Indian Hair, Lush Wigs, TSD Hair, Glam Seamless, His and Her Hair Goods, YH Hair, Dini Wigs, Luxy Hair.
Key Questions Answered
What is the current valuation of the global hair wigs and extensions market?
The global hair wigs and extensions market was valued at USD 7.82 billion in 2022.
What is the projected valuation of the global hair wigs and extensions market by 2028?
The global hair wigs and extensions market is expected to reach a valuation of USD 19.12 billion by 2028.
What is the compound annual growth rate (CAGR) of the hair wigs and extensions market from 2023 to 2028?
The hair wigs and extensions market is experiencing a compound annual growth rate (CAGR) of 16.06% from 2023 to 2028.
Which region currently holds the largest market share in the global hair wigs and extensions market?
North America dominates the global hair wigs and extensions market with a market share of 40.72%, as of 2022. The United States specifically serves as the largest market for wigs and hair extensions worldwide.
Who are the major players in the hair wigs and extensions market?
Godrej, Great Lengths, and Evergreen Product Group are key players in the global hair wigs and extensions market.
What are the significant trends observed in the global hair wigs and extensions market?
The key trends in the hair wigs and extensions market include changes in spending patterns among the middle-class, increased demand for image makeovers in urban communities, and growing utilization of wigs in the fashion and entertainment industry.
Which region is expected to witness the highest growth in the hair wigs and extensions market during the forecast period?
The Asia-Pacific (APAC) region is projected to experience the highest growth rate of 17.32% during the forecast period. APAC is not only the largest supplier of human hair used in wig and extension manufacturing but also benefits from its large population, which enables a stable supply of hair for the global market.