Hair Extension Market Booms with Growing Demand for Instant Volume and Length | CAGR 5.3% during Forecast Period

Pune, India, April 25, 2023 (GLOBE NEWSWIRE) — The global hair extension market size was valued at USD 2.35 billion in 2020 and is projected to grow from USD 2.38 billion in 2021 to USD 3.43 billion by 2028, exhibiting a CAGR of 5.3% during the forecast period.

The global hair extension market is set to gain impetus from the increasing utilization of premium and stylish grooming products by people as per various occasions to suit their appearances. Mandom Corporation, a Japanese cosmetics manufacturer, for instance, declared that in 2017, the company earned around 7.89 billion Japanese yen within the female grooming segment.

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Report Scope & Segmentation:

The Hair Extension Market Report covers potential improvement drivers as properly as the modern-day key of market share, penetration of a number of kinds, technologies, applications, and areas through forecast till 2028.

How will you analyze the competitional analysis between top key players included in the report?

With the aim of clearly revealing the competitive state of the industry, we concretely analyse not only the leading plyers that have a voice on a global scale, but also the regional small and medium-sized players that play key roles and have plenty of potential growth.

List of Key Players Profiled in the Hair Extension Market Report:

• Great Lengths Universal Hair Extensions Srl (Roma, Lazio, Italy)
• Balmain Hair Group B.V. (Netherlands)
• Hair Visions International (Florida, USA)
• Esqido (Toronto, Canada)
• CAP. Original USA (Florida, USA)
• Cinderella Hair (London, UK)
• Racooninternational (United Kingdom)
• Evergreen Products Group Limited (Hong Kong)
• Easihair Pro USA (United States)
• Hairlocs (California, USA)

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Segments-

The hair extension market can be segmented based on various factors such as product type, material type, end-use, distribution channel, and region. Here are some common segments of the hair extension market:

• Product Type: The hair extension market can be segmented into clip-in, tape-in, sew-in, fusion, and others. Clip-in extensions are easy to use and remove, while tape-in extensions are semi-permanent and require professional installation. Sew-in extensions are woven into the natural hair, while fusion extensions are attached using keratin bonds.
• Material Type: The hair extension market can be segmented into human hair and synthetic hair. Human hair extensions are made from real hair, providing a more natural look and feel, while synthetic hair extensions are made from synthetic fibers, providing a more affordable option.
• End-Use: The hair extension market can be segmented into individual and professional use. Individual use refers to people who use hair extensions for personal reasons, while professional use refers to hairstylists who use hair extensions for their clients.
• Distribution Channel: The hair extension market can be segmented into offline and online channels. Offline channels include salons and beauty supply stores, while online channels include e-commerce platforms and the brand’s website.
• Region: The hair extension market can be segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Overall, these segments provide a framework for understanding the diverse needs and preferences of consumers in the hair extension market.

COVID-19 Pandemic: Shutdown of Salons and Shortage of Raw Materials to Hinder Growth

The outbreak of COVID-19 pandemic worldwide has affected numerous industries owing to strict lockdown and shutdown of companies. Hence, they are facing difficulties in closing their business deals and meeting their channel partners. It is anticipated to impact the hair extension industry severely. Also, the shortage of raw materials and closure of spas and salons would also affect the usage of the product negatively. Our research reports will help you find the best strategy to take your business to a whole new level.

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Report Coverage-

The research report aims to analyze the market by considering contributions, prospects, and growth trends. It presents detailed profiles of every key player operating in the market to assess their core competencies in each segment. Besides, it would help our clients better understand competitive developments, such as mergers & acquisitions, new product launches, joint ventures, and collaborations.

Drivers & Restraints-

Increasing Cases of Alopecia Areata to Augment Growth

Most people nowadays are using hair extensions to hide their hair damage issues. The surging prevalence of casts, alopecia, and hair loss is expected to drive the hair extension market growth in the near future. The National Alopecia Areata Foundation, for instance, mentioned that as of 2020, approximately 6.8 million people in the U.S. are suffering from alopecia areata. At the same time, the increasing usage of chemical-based shampoos would aid growth. However, these products can often cause hair breakage and headache. It may hamper their demand.

Regional Insights-

The hair extension market varies significantly across different regions, with factors such as culture, fashion trends, and purchasing power influencing demand and sales. Here are some regional insights on the hair extension market:

• North America: The hair extension market in North America is driven by the United States, where there is a high demand for long, voluminous hair. Clip-in hair extensions are popular among American women who want to add length and volume to their hair quickly and easily. In recent years, there has been a growing trend towards more natural-looking extensions made from human hair, rather than synthetic fibers.
• Europe: The hair extension market in Europe is driven by the United Kingdom, France, and Germany. In the UK, hair extensions are popular among women of all ages, with a particular emphasis on natural-looking extensions that blend seamlessly with their own hair. In France, hair extensions are seen as a luxury item, with high-end salons offering premium services to affluent customers. In Germany, the market for hair extensions is growing, with a focus on high-quality, sustainable products.
• Asia Pacific: The hair extension market in Asia Pacific is driven by China, Japan, and South Korea. In China, hair extensions are popular among young women who want to emulate the hairstyles of their favorite celebrities. Japanese women, on the other hand, tend to prefer natural-looking extensions that add volume and thickness to their hair. In South Korea, the market for hair extensions is driven by a desire for long, straight hair, with clip-in and tape-in extensions being the most popular.
• Latin America: The hair extension market in Latin America is driven by Brazil and Mexico, where there is a high demand for long, lustrous hair. In Brazil, hair extensions are popular among women of all ages, with a particular emphasis on natural-looking extensions that blend seamlessly with their own hair. In Mexico, the market for hair extensions is growing, with a focus on high-quality, ethically sourced products.

Overall, the hair extension market is growing globally, with a focus on high-quality, sustainable products that meet the needs of diverse consumers.

Competitive Landscape-

Key Players Focus on Acquisition Strategy to Strengthen Their Positions in Market

The global market contains a large number of companies that are presently striving to strengthen their positions globally. Hence, they are engaging in the merger and acquisition strategy with local salons and novel hair product manufacturers.

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Detailed Table of Content:

• Introduction
  • Research Scope
  • Market Segmentation
  • Research Methodology
  • Definitions and Assumptions
• Executive Summary
• Market Dynamics
  • Market Drivers
  • Market Restraints
  • Market Opportunities
  • Emerging Trends
• Key Insights
  • Overview of the Parent/Related Markets
  • Industry SWOT Analysis
  • Supply Chain and Regulatory Analysis
  • Recent Industry Developments – Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
  • Market Analysis and Insights (in Relation with COVID-19)
    • Impact of COVID-19 on the Market
    • Supply Chain Challenges due to the Pandemic
    • Potential Opportunities to Support the Market during the Global Crisis
• Global Hair Extension Market Analysis, Insights, and Forecast, 2017-2028
  • Key Findings / Summary
  • Market Size Estimates and Forecast
    • By Type (Value)
      • Synthetic Hair Extension
      • Human Hair Extension
      • Animal Hair Extension
    • By End-User (Value)
    • By Region (Value)
      • North America
      • Europe
      • Asia Pacific
      • South America
      • Middle East & Africa

TOC Continued…!

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