Hair Extensions Market Overview, 2031
The global hair extensions market size was valued at $2.9 billion in 2021, and is projected to reach $6.3 billion by 2031, growing at a CAGR of 8.2% from 2022 to 2031. Hair extensions are a type of human, synthetic, or animal hair that is attached firmly to the scalp and used to add length, thickness, or color to natural hair. Some extensions last a long time, some do not; some last for up to a full year before taking off. Hair extensions mix in with hair because of their complementary color and texture. These are customizable as per the requirements of the customers and are designed by the stylist. All three types of hair extensions, human, synthetic, and animal are considered under the scope of the report. Retail products that are sold by e-commerce, company sites, retail stores, and supermarkets for personal and professional use are considered during the course of the study.
The hair extensions industry is projected to be fueled by the increasing use of hair extensions in the fashion & entertainment industry is proliferating the demand for the market globally. Moreover, recently, a lot of actresses, models, and celebrities have acknowledged using hair extensions. This is a significant development in the market since celebrities' open usage of hair extensions has led to a rise in the use of hair extensions for cosmetic purposes. The taboo surrounding the use of hair extensions is being broken down by the growing interest in hair extensions. Such elements have provided the industry for hair extensions with an unheard chance for growth.
Moreover, due to the huge demand for hair extensions in the retail industry, a number of factors have contributed to this, including increased consumer spending on lifestyle goods, grooming products, and disposable income in developing nations such as China, India, Brazil, and others. End customers are using hair extensions more frequently to improve their appearance. The growth of the hair extensions industry is now being driven by an increase in consumer expenditure on products that improve one's appearance and personality. To increase the sales of hair extensions, suppliers are working to make it accessible in every location.
Additionally, the sales of hair extensions are benefiting from the industry participants' tendency of product innovation. In the upcoming years, hair extensions market growth is anticipated to be fueled by various factors, including the common occurrence of receding hairlines, alopecia, and others. During the projection period, a change in consumer purchasing habits is anticipated to have a beneficial impact on hair extension sales. hair extensions market demand is also rising as a result of consumers' desire for denser, longer hair, which is tempting them to buy extensions.
Additionally, the demand for these hair styling products such as hair extensions is also witnessing growth as a result of the rising demand for hair products in urban areas. More people choosing hair extensions is a direct cause of the rising demand for hair products in urban areas. Peer pressure, which is a more indirect force, is a crucial element promoting industrial growth, though. Women from wealthy homes are more likely to want to fit in and be accepted by their peers because they continually strive to outdo one another in terms of physical attractiveness and fashion.
Moreover, increasing use of high-end grooming products is creating various opportunities in the market. Consumers today use more and more fashionable, high-end grooming products to match their appearance to temporary demands. As a result, businesses will have more opportunity to create such cutting-edge items. Furthermore, the rising demand for multi-colored hair extensions among celebrities and artists is projected to present market expansion prospects for fresh artificial hair integrations.
However, rising awareness for hair loss treatment is a factor hampering the growth of the market. Scientists are working on creative and innovative techniques to regrow or restore lost hair. People today are using more and more different drugs and anti-hair loss therapies. The demand for hair transplants in non-scalp locations and on the scalp is anticipated to rise as people's concerns about appearance grow. The two most popular drugs used to treat hair loss are minoxidil and finasteride.
The hair extensions market forecast is segmented on the basis of type, fitting type, distribution channel, end use, and region. By type, the hair extensions market is classified into synthetic hair extensions, human hair extensions, and animal hair extensions. By fitting type, the market is classified into clip in, micro link, tape in, and glue in. By distribution channel, the hair extensions market is segmented into retail stores, supermarkets, and e-commerce. By end use, the market is categorized into professional and personal. Region wise, it is analyzed across North America (U.S., Canada, Mexico), Europe (Germany, UK, France, Italy, Belgium, Russia, Netherlands, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, Thailand, Indonesia, Rest of Asia-Pacific), and LAMEA (Brazil, Argentina, UAE, Saudi Arabia, Chile, Turkey, South Africa, and rest of LAMEA).
By type, the hair extensions market is segmented into synthetic hair extensions, human hair extensions, and animal hair extensions. The human hair extensions segment accounted for a major hair extensions market share in the in 2021 and is expected to grow at a significant CAGR during the forecast period. The demand for human hair extensions is rising owing to the natural presence of human hair extensions. The same methods used for treating natural hair can be used on human hair extensions. The long-lasting lifespan of human hair extensions is a key factor driving the market growth.
By fitting type, the hair extensions market is segmented into clip in, micro link, tape in, and glue in. The clip in segment accounted for a major share in the hair extensions market in 2021 and is expected to grow at a significant CAGR during the forecast period. The demand for clip-in hair extensions is rising as they are easy to apply and temporary. They attach using pressure sensitive clips, so they don't cause damage to hair. Consumers demanding a quick and easy change of hairstyle is a key factor increasing the demand for clip-in hair extensions.
By distribution channel, the hair extensions market is segmented into retail stores, supermarkets, and e-commerce. The retail stores segment accounted for a major share in the hair extensions market in 2021 and is expected to grow at a significant CAGR during the forecast period. Retail stores provide substantial discounts on a range of products. Retail stores' popularity among low- and middle-income social groups as a result of their wide selection of products offered at reasonable rates is what led to the current trend in the cosmetics industry. These retailers also offer a wide selection of products under one roof and enable categorized product display. People with low and moderate incomes favor these stores. These components help the market to grow.
By end use, the market is categorized into professional and personal. The professional segment accounted for a major share in the hair extensions market in 2021 and is expected to grow at a significant CAGR during the forecast period. The demand for hair extensions in the professional sector is rising. Many actors, models, and other celebrities have recently admitted to wearing hair extensions. This is a significant commercial development because the use of hair extensions for cosmetic purposes has increased as a result of celebrities' open use of them.
By region, it is analyzed across North America (U.S., Canada, Mexico), Europe (Germany, UK, France, Italy, Belgium, Russia, Netherlands, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, Thailand, Indonesia, Rest of Asia-Pacific), and LAMEA (Brazil, Argentina, UAE, Saudi Arabia, Chile, Turkey, South Africa, and rest of LAMEA). The North America hair extensions market accounted for a major share in the hair extensions market in 2021 and is expected to grow at a significant CAGR during the forecast period. The higher penetration and use expansions among all age groups are credited with driving the rise in this area. The hair accessories in the area are utilised as both useful and decorative items. The U.S. imports more hair products than any other country in the world. The Observatory of Economic Complexity (OEC) estimates that in 2020, the United States accounted for 53.6% of global imports of wigs, fake beards, and similar goods.
The major players operating in the market focus on key market strategies, such as mergers, product launches, acquisitions, collaborations, and partnerships. They have been also focusing on strengthening their market reach to maintain their goodwill in the ever-competitive market. Some of the key players in the hair extensions market include Mayvenn, So Cap USA, Shake-N-Go, Inc, Hairdreams Haarhandels GmbH, Beauty Industry Group Inc, Jon Renaum, Evergreen Products Group Limited, Hairlux, Hairlocs, Balmain Hair Couture, SalonLabs Exports India Pvt Limited, The Gorgeous Hair, Great Lengths S.p.A Societa Benefit, Locks & Bonds, and Perfect Locks LLC.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the hair extensions market analysis from 2021 to 2031 to identify the prevailing hair extensions market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the hair extensions market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the hair extensions market players.
- The report includes the analysis of the regional as well as global hair extensions market trends, key players, market segments, application areas, and market growth strategies.
Hair Extensions Market Report Highlights
| Aspects | Details |
 Market Size By 2031 | USD 6.3 billion |
 Growth Rate | CAGR of 8.2% |
 Forecast period | 2021 - 2031 |
 Report Pages | 378 |
 By Type |
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 By End Use |
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 By Fitting Type |
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 By Distribution Channel |
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 By Region |
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 Key Market Players | Shake-N-Go, Inc, Evergreen Products Group Limited, Hairdreams Haarhandels GmbH, Beauty Industry Group Inc, Hairlocs, So Cap USA, The Gorgeous Hair, Hairlux, Great Lengths S.p.A Societa Benefit, SalonLabs Exports India Pvt Limited, Balmain Hair Couture, Jon Renau, Mayvenn, Perfect Locks LLC, Locks & Bonds |
Analyst Review
According to the insights of the CXOs, the global hair extensions market is expected to witness robust growth during the forecast period. This is attributed to increasing use of hair extensions in the fashion & entertainment industry and rising hair loss among individuals. Moreover, Recently, a lot of actresses, models, and celebrities have acknowledged using hair extensions. This is a significant development in the market since celebrities' open usage of hair extensions has led to a rise in the use of hair extensions for cosmetic purposes. Furthermore, Hair loss is a serious health problem right now. The effects of frantic lifestyles and inadequate nutrient intake on the human body are negative. Men are more likely to experience alopecia, a receding hairline, and pattern baldness, whereas women are more likely to experience hair thinning. These elements have an impact on the expansion of the global market for hair extensions.
CXOs further added about an increasing use of high-end grooming products is further boosting the market growth. Consumers today use more and more fashionable, high-end grooming products to match their appearance to temporary demands. As a result, businesses will have more opportunity to create such cutting-edge items. Furthermore, the rising demand for multi-colored hair extensions among celebrities and artists is projected to present market expansion prospects for fresh artificial hair integrations. The primary factor impeding the expansion of vendors in the hair extension market is the intensifying rivalry brought on by the rising demand. The earnings of the large giants are being dwarfed by the proliferation of numerous tiny businesses. Additionally, due to the potential business opportunities, entrepreneurs are still entering the hair extensions area in the nation.
The Hair Extensions market size was $2,877.8 million in 2021 and is expected to reach $6,299.7 million by 2031, registering a CAGR of 8.2% from 2022 to 2031.
The top companies that hold the market share in the Hair extensions market include Mayvenn, So Cap USA, Shake-N-Go, Inc, Hairdreams Haarhandels GmbH, Beauty Industry Group Inc, Jon Renaum, Evergreen Products Group Limited, Hairlux, Hairlocs, Balmain Hair Couture, SalonLabs Exports India Pvt Limited, The Gorgeous Hair, Great Lengths S.p.A Societa Benefit, Locks & Bonds, and Perfect Locks LLC.
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The global Hair extensions market registered a CAGR of 8.2% from 2022 to 2031.
The forecast period in the Hair extensions market report is from 2022 to 2031.
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