Pune, India, Nov. 01, 2023 (GLOBE NEWSWIRE) -- The United States hair extension market size was valued at USD 2.08 billion in 2022 and is expected to be worth USD 2.26 billion in 2023. The market is projected to reach USD 3.93 billion by 2030, recording a CAGR of 8.22% during the forecast period.
Remy hair refers to a hair wig made from natural hair that still has its cuticles intact, unlike synthetic hair. It is promoted as ‘ethically sourced’ and ‘organic’ to attract more customers in the U.S. This type of hair is collected from temples and other religious sites across the world, especially from Asian countries, to make realistic wigs and extensions. Since the fashion and haircare trends are constantly evolving, the demand for realistic hair wigs has increased considerably. This factor is expected to fuel the U.S. hair extension market growth.
Fortune Business Insights™ displays this information in a report titled, "U.S. Hair Extension Market, 2023-2030."
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List of Key Players Profiled in the U.S. Hair Extension Market:
- Hidden Crown LLC (U.S.)
- Mayvenn Inc (U.S.)
- CAP.USA (U.S.)
- ONYC Hair (U.S.)
- EasiHair Pro (U.S.)
- Cinderella Hair Extension (U.S.)
- Klix Hair, Inc. (U.S.)
- Shake-N-Go Fashion, Inc. (U.S.)
- Halocouture Hair Extensions (U.S.)
- Great Lengths S.p.A. (Italy)
Report Coverage:
The report provides quantitative as well as qualitative insights into the market and analyzes other aspects of the market in depth. It also offers valuable information on the competitive landscape, recent developments in the industry, and latest trends in this market.
Drivers and Restraints:
Growing Use of Remy Hair and Increasing Consumer Interest in Indian Hair to Fuel Market Progress
The demand for Remy's hair is increasing steadily every year as this type of hair, unlike synthetic hair, is made up of real hair and has its follicles intact. Remy hair is also one of the most sought-after types of hair due to its high quality, and India is one of the key suppliers. Many Indian hair extension companies are making their presence felt in the U.S. as more American customers are increasing their inclination toward Indian hair. Indian hair is being increasingly used in various wigs across the country, which is expected to drive market progress.
However, the growing availability of substitute products and customers’ misconceptions regarding artificial hair can hinder market development.
Browse Detailed Summary of Research Report with TOC:
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COVID-19 Impact:
Closure of Salons Negatively Affected Market Growth Amid Pandemic
The COVID-19 pandemic had an adverse impact on the market progress as most beauty salon owners were forced to shut down their operations to adhere to social distancing norms and nationwide lockdown guidelines. This factor slowed the sales of hair extensions as salons are one of the key distribution channels for these products. However, as the market is taking various initiatives to recover from the aftermath of the outbreak, the demand for hair extensions is expected to rise during the forecast period.
Segmentation:
Human Hair Extensions to Gain Immense Traction Due to Their Lucrative Benefits
Based on type, the market is divided into synthetic, human, and animal. The human hair segment accounted for the largest U.S. hair extension market share in 2022. Human hair offers various advantages, such as high versatility and adaptability, which make it quite suitable for making high-quality wigs.
Rising Incidence of Hair Damage and Loss to Boost Product Adoption Among Females
Based on end-users, the market is categorized into male and female. The female segment accounted for the largest market share in 2022 and might retain its position during the forecast period as well as the number of women suffering from hair loss and damage after the age of 30 is rising at a worrying rate. So more hair-extension brands are catering to the haircare needs of women.
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Competitive Landscape:
Key Companies to Increase R&D Investments and Launch Novel Products to Remain Dominant
The United States hair extension market has a vast presence of companies, such as Shake-N-Go Fashion, So.CAP. USA, Cinderella Hair Extension, ONYCHair, and Great Lengths S.p.A. These companies are increasing their investments in various R&D programs to design unique products and introducing new hair-related items in the market. These initiatives will help these market players remain dominant in the U.S. market.
Detailed Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Overview of Wig and Hair Extension Products Market
- Qualitative Analysis on Raw Materials
- Industry SWOT Analysis
- U.S. Imports & Exports of Hair Extension and hair Products
- Supply Chain and Regulatory Analysis
- Recent Industry Developments - Mergers & Acquisitions, Product Launches, Expansions
- Consumer Preferences on Hair Extension Product
- U.S. Hair Extension Market Analysis, Insights and Forecast, 2019-2030
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Synthetic Hair Extension
- Human Hair Extension
- Animal Hair Extension
- Market Analysis, Insights and Forecast – By End User
- Male
- Female
TOC Continued...!
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Notable Industry Development:
- December 2022: Beauty Industry Group (BIG), a U.S.-based brand, completed the acquisition of Beauty Works, a U.K.-based company. Beauty Works specializes in the supply of makeup and haircare products to stylists, salons, and retailers across the U.K.
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