Natural Hair Wigs and Extensions Market Size
:
The Natural Hair Wigs and Extensions market size was USD 4.04 billion in 2021 and projected to grow from USD 4.5 billion in 2023 to USD 7.4 billion by 2032, exhibiting a CAGR of 5.7% during the forecast period.
The use of Hair Wigs and Extensions prevents the natural hair from being damaged due to heating and chemicals use. These hair products are used for styling as they are convenient for use. The market is growing due to the rising incidence of hair related diseases. Hair wigs assist in improving the appeal of a person having issues of hair loss. The willingness to help attaining a realistic look is helping the increased adoption of natural hair wigs usage. The female consumers globally are spending highly on natural hair wigs and is assisting in creating demand and popularity for the use of wig as a fashion product. The easy customization to meet the desire of users, assist in achieving multiple hairstyle preventing the damage to the hair.
Market Highlights
Natural Hair Wigs and Extensions Market is expected to project a CAGR of 5.7% during the forecast period, 2022-2032
The Natural Hair Wigs and Extensions Market is expected to reach USD 7.4 billion at a CAGR of 5.7% during forecast period. Hair loss results in partial or complete baldness due to several medical disorders and hormones imbalance issues, creating self-conscious in people about their appearance, resulting in the demand for hair wigs. Human hair, animal hair, virgin hair, synthetic fibre, or a combination of these materials are used to make hair alterations.
Natural Hair Wigs and Extensions Market Segmentation:
Men segment is expected to grow with high CAGR during the forecast period
Natural Hair Wigs and Extensions market is classified based on the Gender into Men, Women. Men segment is expected to register the highest market share in the natural hair wigs market during the forecast period owing to the increasing baldness issues in men which is expected to drive the market. According to a study, nearly 50% of men and women may suffer with androgenetic alopecia. There are nearly 40% of hair loss issues in males over the age of 35 which is leading to the growth of the market in the forecast period.
Offline segment is expected to grow with high CAGR during the forecast period
Natural Hair Wigs and Extensions Market segmentation based on the Sales Channel into Online, Offline. The offline segment is expected to register the highest market share during the forecast period. Large population pool wishes to have physical touch of the hair wigs and compare the quality of the product, which may increase the preference to purchase from the offline stores. There are low chances of delay in the delivery after purchasing the products which may aid in high preference in opting offline purchase. There are low chances of encountering the counterfeit products, which increases the demand for hair wig purchases from offline stores.
Market Dynamics:
Growth Drivers
Rising Incidence of Diseases Related to Hair is Expected to Boost the Market Growth
Hair wigs are used to conceal hair issues due to disease occurrence. As a result of the high occurrence of hair loss and other conditions, the market for hair wigs is expected to grow. The technological advancements in the production and design of hair wigs drive the market growth of hair wigs market. The increase in the capita disposable incomes is expected to provide growth opportunities for the natural hair wigs market in the coming years.
Increasing Fame of Social Media Influencers is Expected to Boost the Market Growth
The rising importance of social media influencers & celebrities is expected to drive the growth of the natural hair wigs market. The expanding popularity of digital media as a communication & marketing streams is expected to boost the hair wigs industry. The increasing use of wigs by the geriatric population to hide their issues of alopecia is expected to boost the growth of natural hair wigs and extensions market.
Restraint
Increasing Demand for Anti-Hair Loss Treatment May Hamper the Market Growth
Several novel techniques are being developed to replace the lost hair. Many medications and anti-hair loss treatments are being adopted by people due to the rising concern about their appearance, which may hamper the market growth of natural hair wig market. The usage of hair wig might result in scalp issues, which might hinder the market growth. These products even require high maintenance, which might restrain the market growth.
Recent Developments:
- In April 2021, Evergreen Products Group Ltd. introduced new product line of digital wigs using the non-fungible tokens technology.
- In 2019, HairUWear acquired the WIg Company which enabled HairUWear to expand its customer base.
Natural Hair Wigs and Extensions Market
Key Players Covered:
- Evergreen Products Group Ltd.
- Aderans Co., Ltd.
- Godrej Consumer Products Ltd.
- Klix Hair Extensions
- Donna Bella Hair
- F.N. Longlocks
- Artnature Inc.
- ALERIANA Wigs
- Shake-N-Go, Inc.
- Indique Hair
- Other Prominent Players
(Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)
Regional Analysis
Natural Hair Wigs and Extensions market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. The North America region held the largest market share in 2021 owing to the increasing acceptance of hair wigs by the consumers as a fashion accessory in this region which is contributing to the market growth. Asia Pacific market is expected to grow in the forecast period owing to the high adoption of natural hair wigs as a fashion accessory in the countries of this region which is expected to boost the growth of the market.
Impact of Covid-19 on Natural Hair Wigs and Extensions Market
Globally the COVID 19 pandemic has affected all the sectors of market by slowing down production as well as the consumption activities. Several projects were delayed leading to operational difficulties and disruptions in economic activities also caused a huge loss. The strict imposition of lockdown, social distancing, and travel ban norms had disrupted and hampered the procurement of several materials. This market of Natural Hair Wigs Market was affected and had a negative impact on the growth due to shut down of all the salons and retail channels leading to downfall of Natural Hair Wigs market.
Natural Hair Wigs and Extensions Market is further segmented by region into:
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
- Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
- Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
Natural Hair Wigs and Extensions Market Scope and Segments:
|
ATTRIBUTE |
DETAILS |
|
Study Period |
2018-2032 |
|
Base Year |
2022 |
|
Forecast Period |
2022-2032 |
|
Historical Period |
2019-2021 |
|
Growth Rate |
CAGR of 5.7% from 2022-2032 |
|
Unit |
Value (USD Billion) |
|
Segmentation |
Main Segments List |
|
Type |
|
|
Gender |
|
|
Sales Channel |
|
|
Fitting Type |
|
|
Cap Type |
|
|
End User |
|
|
By Region |
|
Frequently Asked Questions (FAQ):
Natural Hair Wigs and Extensions Market size was estimated at USD 4.04 billion in 2021 and is expected to reach USD 7.4 billion in 2032.
The use of hair wigs prevents the natural hair from being damaged due to heating and chemicals use. These hair products are used for styling as they are convenient for use. The market is growing due to the rising incidence of hair related diseases.
Men and Offline segment accounted for the largest Natural Hair Wigs and Extensions market share.
Key players: Evergreen Products Group Ltd., Aderans Co., Ltd., Godrej Consumer Products Ltd., Klix Hair Extensions, Donna Bella Hair, F.N. Longlocks, Artnature Inc., ALERIANA Wigs, Shake-N-Go, Inc., Indique Hair and Other Prominent Players are the key players in the Natural Hair Wigs and Extensions Market.
Rising Incidence of Hair Diseases and Increasing Fame of Social Media Influencers are the factors driving the Natural Hair Wigs and Extensions market.
.png){kind=icon}
