Hair Wigs and Extension Market Size To Reach USD 15.7 Billion By 2032 CAGR: 7.5%. Report By DataHorizzon Research

Fort Collins, Colorado, Oct. 01, 2023 (GLOBE NEWSWIRE) -- DataHorizzon Research Published a report titled, "Hair Wigs and Extension Market Size, Trends, Growth, Share, Statistics Analysis Report, By Type of Hair Extension, By Material for Hair Extension, By Material for Hair Wig, By Gender, By Region And Segment Forecasts, 2023-2032"          

According to DataHorizzon Research, The hair wigs and extension market size was valued at USD 7.7 Billion in 2022 and is expected to reach a market size of USD 15.7 Billion by 2032 at a CAGR of 7.5%. The report comprehensively analyzes the global market scenarios with key takeaways. The report also highlights the present and future trends in the industry, followed by actionable market insights. Wigs are revolutionizing the beauty industry by allowing people to fully express themselves and try out new styles without any permanent changes. With the help of social media, the world of wigs has exploded with tips and tricks from top hairstylists, encouraging people to experiment with bold colors and diverse styles. Wearing a wig can transform a person's look and boost their confidence, making it an exciting time for those looking to enhance their aesthetics.

Hair loss is a prevalent concern affecting people of all genders and ages worldwide. The increasing incidence of hair-related conditions, particularly alopecia, has significantly boosted the hair wig industry. Hair wigs and extensions are commonly employed by individuals for various reasons, with the primary goal of enhancing their appearance and looking their best. Hair wigs are head accessories typically utilized by people experiencing hair loss or thinning. It is often used to conceal baldness or uneven hair loss, providing individuals with confidence and normalcy. Furthermore, individuals dealing with Alopecia Areata or undergoing chemotherapy may also rely on wigs to enhance their overall appearance and self-esteem.

Businesses offer sustainable solutions for eco-conscious customers by investing in research, adopting eco-friendly practices, and improving waste management and recycling. Rebundle's Hair Fiber, made from banana fibers, is a biodegradable alternative to plastic-based hair extensions. Prioritizing sustainability helps companies build trust and differentiate themselves. Both consumers and manufacturers value the importance of sustainability, and this trend is expected to continue.

The growing demand for these products is due to the increasing popularity of hair extensions among women who want to improve their hair's volume and appearance. Hair extensions are available in various attachment techniques that minimize damage to natural hair, allowing consumers to experiment with different lengths, colors, and styles. These products are particularly attractive to those seeking a temporary or semi-permanent change in their appearance, offering an immediate solution to achieve longer or thicker hair without waiting for natural hair growth. 

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Report Snapshot: 

Segmentation Overview:

The global hair wigs and extension market has been segmented as the type of hair extension, material for hair extension, material for hair wig, gender, and region.

The hair extension industry is dominated by synthetic hair due to its affordability compared to natural or human hair extensions. These extensions are readily styled, requiring minimal effort on the user's part. They come in various shapes, colors, and sizes, including straight, curly, wavy, long, and short, allowing for personalized selection. Furthermore, synthetic hair extensions are easier to maintain over extended periods than natural ones.

When it comes to hair wigs, the human hair wig segment takes the lead in terms of market share. This is because human or natural hair wigs are the preferred choice for many. They offer a natural appearance and are easier to maintain than other hair wigs. Additionally, human hair wigs are highly versatile and can be styled in various ways. The styling lasts longer on human hair wigs than on other wigs. These wigs are also highly durable and can last up to three years with daily use. They are also resistant to damage caused by heat application, making them an excellent choice for those who love to style their hair.

The hair wig and extension market in North America is significant, with the United States leading the world in beauty and personal care products. Nearly half of all Americans are estimated to utilize hair wigs or extensions as part of their beauty routine. This trend shows no sign of slowing down as the fashion industry continues to evolve, and social media plays an increasingly influential role in shaping beauty standards. Furthermore, men and women in this region are embracing hair extensions as a fashionable accessory, increasing the market's steady growth.

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Key Developments in the Hair Wigs and Extension Market:

• Aderans Co., Ltd. won the Best Brand in Hair Growth of the Year Award at the International Prestige Brand Award (IPBA) in Malaysia. The company promotes wellness in the hair, beauty, and health industries on a global scale.

• Shake-N-Go Fashion, EnterSolar, and PSEG Long Island completed a 900-kW rooftop solar system at Shake-N-Go's Port Washington headquarters. The solar system will generate 96% of the facility's annual electricity needs, reducing their dependence on the grid.

Hair Wigs and Extension Market Report Highlights:

• The hair wigs and extension market size is expected to reach a market size of USD 15.7 Billion at a CAGR of 7.5% by 2032.  Wigs and hair extensions are transforming the beauty industry, allowing people to experiment with new styles without permanent changes. They can boost confidence and are especially helpful for those experiencing hair loss or thinning. Sustainable options, like Rebundle's Hair Fiber, made from banana fibers, are becoming more popular. Hair extensions come in various attachment techniques and are ideal for those seeking temporary or semi-permanent changes in their appearance.

• Synthetic hair extensions dominate the market due to affordability and easy maintenance. They come in various styles and colors. Human hair wigs are preferred for a natural look and versatility. They are durable and resistant to heat damage, lasting up to three years with daily use.

• The hair wig and extension market in North America is booming, especially in the United States, where nearly half of Americans use them. The trend is driven by the evolving fashion industry and social media's influence on beauty standards. Additionally, hair extensions are becoming a popular accessory for both men and women, contributing to the market's growth.

• Major players in the hair wigs and extension market research report and analysis include Evergreen Products Group Ltd., Artnature Inc., Adrans Co. Ltd., Donna Bella Hair, Paula Young, HairUWear, Indique Hair, Klix Hair Extensions, Shake-n-go, Ruimei Hair Products Co. Ltd., Racoon International Ltd., Great Lengths Hair Extension, Beauty Industry Group Inc., and Hair Originals. 

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Hair Wigs and Extension Market Report Segmentation: 

Hair Wigs and Extension Market, By Type of Hair Extension (2023-2032)

• Clip-in hair Extensions
• Tape-in hair Extensions
• Sew-in hair Extensions
• Fusion and Pre-Bonded Hair Extensions
• Microlink Hair Extensions
• Wigs and Hair Pieces

Hair Wigs and Extension Market, By Material for Hair Extension (2023-2032)

• Human Hair
• Synthetic Hair

Hair Wigs and Extension Market, By Material for Hair Wig (2023-2032)

• Human Hair
• Synthetic Hair
• Human Hair Blend

Hair Wigs and Extension Market, By Gender (2023-2032)                                                                                             

• Men
• Women

Hair Wigs and Extension Market, By Region (2023-2032)

• North America
  • U.S.
  • Canada

• Europe
  • U.K.
  • Germany
  • France
  • Rest of Europe

• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia Pacific

• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America

• Middle East & Africa
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of Middle East & Africa

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DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.

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