The latest market report issued by Credence Research, Inc. “Global Human Hair Extension Market: Growth, Future Prospects, and Competitive Analysis, 2017 – 2030”. The global human hair extension market generated revenue of around USD 945.6 million in 2022 and is anticipated to grow a CAGR of around 6.50% during the forecast period from 2023 to 2030 to reach around USD 1469.45 million in 2030.
The demand for these hair styling products, such as hair extensions, is growing due to the rising demand for hair products in urban areas. More people choosing hair extensions is a direct cause of the rising demand for human hair products in urban areas. However, peer pressure, a more indirect force, is crucial in promoting industrial growth. Women from wealthy homes are more likely to want to work in and be welcomed by their peers because they continually strive to outdo one another regarding physical attractiveness and fashion.
The global human hair extension market is bifurcated into Product, Hair Type, and Geography. Based on product, the market is categorized into wigs and extensions. On the basis of hair type, the global market is segmented into human hair and synthetic hair. Based on geography, the market is categorized into Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa.
In 2021, North America dominated the global human hair extension market, accounting for a major market revenue share value. The growth in this region is due to the higher penetration and utilization of wigs and extensions among all age groups. The hair goods in the region are utilized for both functional and fashion supplement purposes. The U.S. is the major importer of hair goods across the globe. As per the Observatory of Economic Complexity (OEC), in 2020, the US held a share of 53.6% as the largest importer of false beards, wigs, and other such products.
The Human Hair Extension Market Key Growth Trends have become a topic of great interest in the beauty industry over recent years. The market has seen significant growth largely due to the rising demand for hair extensions and wigs that provide versatility and convenience to consumers. Additionally, advancements in technology have allowed for more natural-looking hair extensions made from human hair, further driving demand. Other key trends include an increase in customization options, such as color matching and length alterations, as well as the introduction of sustainable and eco-friendly products.
The market offers a range of options from clip-in extensions to tape-ins, sew-ins, wigs, and weaves. Additionally, there is also a growing trend towards sustainable and ethically sourced human hair extensions. This presents an opportunity for companies to tap into this niche market by providing high-quality products that align with eco-conscious values. There is also potential for growth in emerging markets like Asia-Pacific where consumers are becoming increasingly interested in experimenting with different hairstyles using human hair extensions. Overall, it’s clear that the Human Hair Extension Market opportunities are abundant for businesses willing to innovate and meet consumer demands while keeping ethical concerns at heart.
The human hair extension market has been experiencing significant growth worldwide due to several factors.
- One of the primary drivers of market growth is the increasing demand for hair extensions among women. Hair extensions allow women to add length, volume, and thickness to their hair without having to wait for their natural hair to grow, and they can also be used to create different hairstyles and looks.
- Additionally, the rising popularity of social media platforms such as Instagram and YouTube has led to an increase in the number of influencers and celebrities promoting hair extensions. This has contributed to the growth of the human hair extension market as more women are becoming aware of the benefits of using hair extensions and are interested in trying them.
- Moreover, the development of new and innovative hair extension technologies has also played a role in the growth of the market. New technologies such as tape-in, clip-in, and sew-in hair extensions have made it easier and more convenient for women to apply and remove hair extensions at home without having to visit a salon.
- Furthermore, the availability of high-quality human hair extensions has also contributed to the growth of the market. Human hair extensions are made from real human hair and can be styled, dyed, and treated just like natural hair. This has led to an increase in demand for high-quality human hair extensions that look and feel natural.
- Overall, the human hair extension market is expected to continue experiencing significant growth worldwide due to the increasing demand for hair extensions among women, the rising popularity of social media influencers promoting hair extensions, the development of new and innovative hair extension technologies, and the availability of high-quality human hair extensions.
Why Buy This Report-
- The report delivers a qualitative and quantitative analysis of the global human hair extension market by segments, current trends, drivers, restraints, challenges, opportunities, and market dynamics with the historical period from 2018-2021, base year- 2022, and forecast period 2023-2030.
- The report contains information associated with the competitive landscape, like how the prominent players in the market are operating at regional, global, and country levels.
- In-depth analysis of the global human hair extension market segmentation based on product and hair type.
- Prominent countries in each region with their import/export statistics
- The global human hair extension market report also includes analyzing the regional, global, and country levels, along with key market trends, significant players analysis, market growth strategies, and key application areas.
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