Hair Extension Market is expected to reach US$ 6.00 Billion by 2031

Increasing Disposable Income and Changing Living Standards of Middle-Class Population Bolster Hair Extensions Market Growth

According to our latest study on “Hair Extensions Market Size and Forecast (2020–2031), Global and Regional Growth Opportunity Analysis – by Product Type, Source, and Distribution Channel,” the market is expected to grow from US$ 3.98 billion in 2023 to US$ 6.00 billion by 2031; it is estimated to register a CAGR of 5.3% from 2023 to 2031. The report highlights key factors driving the market growth and prominent players along with their developments in the market.

Hair extensions are natural or synthetic hairpieces that can be attached to a person’s natural hair to increase the length or volume of the natural hair. The rising trend of different hairstyles on different hair lengths, whether long or short, propels the demand for hair extensions, especially among women. With rising influence of social media trends, hair extensions are witnessing tremendous demand among Gen-Z population. Further, people witnessing hair loss or baldness opt for hair extensions to enhance their look. These factors are driving the hair extensions market.

Hair Extensions Market Share Breakdown – by Region

The hair extensions market report emphasizes the key factors driving the market. The global middle-class population, the next potential consumer segment for the personal care & cosmetic industry, has surged significantly. The shopping behavior and living standards of the population are changing rapidly with the increase in per capita disposable income. In the current market scenario, the number of consumers visiting branded salons is more significant than ever because of their proactive search for branded products, including hair care and skincare products. Such consumers are often primary targets for consumer-focused businesses because of their discretionary spending power. Also, there is increasing preference for hair styling tools and accessories among women due to rising trend of trying different hairstyles. All these factors are propelling the demand for hair extensions among consumers.

According to the World Data Lab projections, the middle-class population drives demand for various products, including beauty and hair products, in the global economy. Owing to rising per capita income, a noticeable change in middle-class spending patterns drives the global hair extension market growth. In emerging countries such as India and China, middle-class people account for a significant share of the market due to the growing economy and increasing disposable income. The country is a significant market for major multinational companies. Rising use of hair extensions by Chinese middle-class consumers, primarily inspired by the western lifestyle, is increasing the demand for higher quality hair extensions.

Unethical practices such as the illegal sale of hair and the reduced remuneration of laborers are observed in the hair industry. The primary sale of hair comes from small agents and mediators who tour villages in countries such as China, India, and Eastern European countries, offering poverty-stricken women small payments to part with their hair. These factors hinder the global hair extension market growth.

In terms of revenue, North America dominated the hair extensions market share in 2023. Asia Pacific is projected to register the highest CAGR from 2023 to 2031. The hair extensions market is witnessing strong growth across countries such as China and Japan. China is among the largest importers of Indian hair in Asia-Pacific. Factors such as increasing disposable income and the urge to enhance physical appearance coupled with increasing preference for personal grooming products contribute to the hair extension market size in China. Additionally, China has the largest population in the region, and there is increasing demand for hair styling accessories due to growing interest in fashion and styling which leads to the growing demand for hair extensions. The lower manufacturing and capital costs in China attract new investments and better opportunities for commercial businesses in the region. It is known to be the second-largest economy in the world and would exhibit potential growth for the market in the coming years. In Japan, the rising consumer demand for hair extensions has promoted the launch of a variety of innovative hair extensions to offer convenience, which, in turn, propels the hair extensions market growth.

In several Indian temples, human hair is presented as an offering. Manufacturers collect the donated hair to produce hair extensions. For instance, Great Lengths Universal Hair Extensions S.p.A., specializing in fashion, hair products, and hair extension made in Italy, ethically sources 100% virgin Remy hair and the best human hair from various Indian Hindu temples. Further, India has the availability of cheap labor; thus, several international hair extension manufacturers are setting up their production units in India. Thus, the rising population and increasing demand for hair from countries such as China, the US, and the UK will positively influence the hair extension market growth in India.

One of the hair extensions market trends includes the rising promotional activities for hair extensions on social media platforms. These platforms have integrated shopping facilities, which allow several influencers and hairstylists to market hair extensions online. Moreover, the growing adoption of hair extensions by famous Hollywood and social media celebrities, especially in emerging countries such as China and India, will most likely fuel the growth of the hair extension market during the forecast period.

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 among the prominent players profiled in the hair extensions market report. Players operating in the global market focus on providing high-quality products to fulfill customer demand. Also, they focus on adopting various strategies such as new product launches, capacity expansions, partnerships, and collaborations to stay competitive in the market. The hair extensions market forecast can help stakeholders plan their growth strategies.

The hair extensions market analysis includes the segmentation of the market as follows:

The global hair extensions market is segmented on the basis of product type, source, distribution channel, and geography. Based on product type, the market is segmented into tape-in, fusion and pre-bonded, clip-in, weft, and others. By source, the hair extensions market is bifurcated into human hair and synthetic hair. Based on distribution channel, the hair extensions market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. By geography, the hair extensions market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The North America market is further segmented into the US, Canada, and Mexico. The market in Europe is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The Asia Pacific market is further segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The hair extensions market in the Middle East & Africa is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The South & Central America market is further segmented into Brazil, Argentina, and the Rest of South & Central America.

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