Hair Wigs and Extension Market Size to Grow by USD 5.26 billion from 2021 to 2026, Growth Driven by Technological Advances in the Production and Design of Synthetic Hair Wigs

Nov 08, 2023

The hair wigs and extension market is estimated to grow by USD 5.26 billionbetween 2021 and 2026. The growth momentum will be progressing at a CAGR of 9.82% during the forecast period. The market is segmented by product (human hair wigs and extension and synthetic hair wigs and extension) and geography (APAC, North America, Middle East and Africa, Europe, and South America).

The market growth in the human hair wigs and extension segment will be significant during the forecast period. Human hair wigs and extension provide better product quality and longevity compared to synthetic hair wigs and extension. The increased demand for ethically sourced human hair wigs and extension in European countries is expected to drive the growth of the segment during the forecast period.

Technological advances in the production and design of synthetic hair wigs and extension will drive the growth of the market. There have been significant improvements in terms of the aesthetics and design of synthetic hair wigs and extensions. Advanced fiber selection and design have made these wigs and extension lighter. They can also be styled using heating styling tools, offering better maneuverability to the user. In addition, these wigs and extension are available in a wide variety of colors. They are also cost-effective. Many such factors are driving the growth of the market in focus.

Hair Wigs and Extension Market Insights –

Global Hair Wigs and Extension Market – Vendor Insights

The global hair wigs and extension market is fragmented due to the presence of several international and domestic players. Established vendors have a competitive advantage owing to their scale of operations and brand name. With increased consumer spending on premium hair wigs and extensions, the competition among vendors is increasing. This is leading to the launch of customized and innovative offerings. The compliance costs are low owing to minimal regulations. However, the capital-intensive nature of the market makes it difficult for new players to sustain themselves in the market. In addition, vendors are implementing various strategies such as new product launches and M&A to increase their market shares. Some of the key vendors covered in the report include: