The hair extensions market size is projected to reach US$ 6.00 billion by 2031 from US$ 3.98 billion in 2023. The market is expected to register a CAGR of 5.3% during 2023–2031. Increasing promotion of hair extensions on social media platforms with integrated shopping facilities and brand endorsements on Instagram, Facebook, and YouTube are likely to remain key trends in the hair extensions market
A gradual consumer shift toward premium and luxury self-grooming products, positive effects of personal care on self-esteem and social interaction, improvement in quality of life, and rising incidence of hair fall propel the growth of the hair extension market. Rising demand for hair extensions in the fashion and entertainment industries due to the increasing preference for hair extensions among models and celebrities is projected to open potential opportunities for the market in the coming years.
Hair extensions are mainly made of human hair or synthetic hair of varying length, volume, and color. These are customizable to suit the customers' requirements and are further styled by a hairdresser. While clamping hair extensions, the original hair texture is not disturbed. These offer a quick solution to add volume and make the hair look longer and fuller without the need to undergo a painful hair transplant procedure. Thus, with rising disposable income and improving living standards, coupled with the booming fashion retail sector, the hair extension market is expected to continue to flourish in the upcoming years.
Shifting consumer preference toward luxury and premium self-grooming products due to rising disposable income, increasing purchasing power, improving lifestyle of people, and rising incidence of hair fall are a few factors driving the growth of the hair extension market.
Europe and North America are significant markets for the styling industry, accounting for more than 60% of the cosmetics market combined. Hair care products are gaining huge traction among consumers owing to the increasing prevalence of hair thinning, dryness, volume loss, and other hair-related concerns.
African consumers and people of African descent are significant consumers of hair extensions. Studies reveal that African women are willing to spend double the amount on beauty and hair products. Hence, the increasing adoption of self-grooming products among the global populace drives the global hair extension market.
Hair extension are highly adopted in the entertainment and fashion industries owing to the rising incidence of alopecia. Further, the demand for hair extensions in countries such as the US is mainly determined by celebrity trends. This factor influences the general population, and more people are demanding hair extension products. Recently, Sunny's Hair & Wigs, a retail store, has expanded to Phoenix and Atlanta since it started in Minneapolis in 1992. It has a vast client base in the entertainment industry.
The fashion and entertainment industries have become vital for the sale and adoption of hair extension products. Production and fashion houses stock numerous hair extensions for models and actors since they perform distinguished roles and characters. The upsurge in hair ailments among consumers is also assisting the industry to grow at a uniform pace. The number of individuals suffering from hair fall is increasing rapidly, owing to which several people are choosing hair extensions. Thus, such factors are expected to create lucrative opportunities for the growth of the hair extension market during the forecast period.
Key segments that contributed to the derivation of the hair extensions market analysis are type, source, and distribution channel.
The geographic scope of the hair extensions market report is mainly divided into five regions: North America, Asia Pacific, Europe, the Middle East & Africa, and South & Central America.
North America dominated the hair extension market in 2023. The demand for hair extensions in North America has surged due to growing celebrity fashion trends and elevated grooming and beauty activities. Caucasian consumers usually use hair products for cosmetic reasons or to create a specific fashion image. Caucasian consumers are mainly from North America and Europe and generally hold higher incomes than customers in other regions. They also pay more attention to the quality of their hair products, which surges the demand for human hair goods. Increasing hair loss is another major factor that boosts the hair extension market growth. Consumers in North America mainly focus on using advanced forms of hair extensions. Manufacturers in the region are investing heavily in the research and development of hair extensions, which is expected to boost its market in North America. In the past 15 years, Cinderella Hair has been at the forefront of the pre-bonded hair extension innovation, providing the finest cuticle 100% Remy human hair.
The regional trends and factors influencing the Hair Extensions Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Hair Extensions Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 3.98 Billion |
| Market Size by 2031 | US$ 6.00 Billion |
| Global CAGR (2023 - 2031) | 5.3% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Hair Extensions Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Hair Extensions Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The hair extensions market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the hair extensions market are listed below:
The “Hair Extensions Market Size and Forecast (2020–2031)” report provides a detailed analysis of the market covering below areas:
The List of Companies - Hair Extensions Market
The market is expected to register a CAGR of 5.3%.
By 2031, the hair extensions market is projected to reach US$ 6 billion.
Locks & Bonds, Klix Hair Inc, Easihair Pro., Balmain Hair Group BV, Great Lengths SpA, Evergreen Products Group Ltd, Socap USA Inc., Cinderellahair Inc., Barclay Wolf Ltd, and Hairlocs Inc are a few of the players operating in the global hair extension market.
Increased promotion of hair extensions on social media platforms is one of the key trends in the market.
Rising adoption of self-grooming products, increasing disposable income, and growing middle-class population are among the key market drivers.
North America dominated the market in 2023 owing to the rising influence of social media trends and celebrities on people’s lifestyles.