Global Hair Extension Market: By Type (Tape-in, Fusion and Pre-Bonded, Clip-in, Weft and Others), By Distribution Channels (Retail Stores, Super Markets and E-Commerce and by Geography (Europe, Asia-Pacific, North America, Middle East & Africa, & South America)—Global Forecast till 2032

Description

Market Overview: The global hair extension market touched a value of USD 5.97 billion in 2021, with prospects of a 7.63% CAGR in the forecast period. The market’s growth is propelled by growing instances of hair-related issues across the globe, comprising alopecia, hair thinning, and volume loss. The American Hair Loss Association reports that androgenetic alopecia alone affects nearly 95% of hair loss cases in men. Additionally, the National Center for Biotechnology Information projects a 50% incidence rate of androgenetic alopecia among both males and femalesduring 2021. Moreover, the International Society of Hair Restoration Surgery estimates that approximately 40% of men nearly 35 years old experience hair loss.

Market Size for Global Hair Extension Market on the Basis of Revenues in USD Bn, 2018-2023

Source: Maven Market Research

What Factors are Leading to the Growth of the Global Hair Extension Market:

• The hair extensions industry is set to benefit from the risingacceptance of hair extensions in the fashion and entertainment sectors, propelling global market requirements.
• During the forecast period, growth is projected to surpass that of the historical duration. The demand to maintain appearances remains robust among the population, propelled by growing instances of hair loss and balding, encouraging increased usage of hair extensions.
• The hair extension market is witnessing robust growth as a growing number of people are looking for versatile solutions to improve their hairstyles, positioning it as a dynamic segment within the wider hair industry.

Which Industry Trends have been Fueling the Growth?

Rise in Hair Diseases: Individuals primarily turn to extensions to conceal hair damage problems. Consequently, the rising incidence of hair loss, alopecia, and similar conditions is projected to drive a requirement for these products. According to data from the National Alopecia Areata Foundation, as of 2020, nearly 6.8 million individualsacross the U.S. suffer from alopecia areata, a type of hair loss disorder. Furthermore, increased customer exposure to chemical-based shampoos is a significant contributor to alopecia problems, further accelerating the market requirement for such products.

Growing Adoption of Luxurious Grooming Products: In today’s market, customers are favoring stylish, high-quality grooming products personalized to address their occasional appearance requirements. This trend opens new opportunities for key market players to innovate and introduce innovative products. Moreover, the growing trend of artists and celebrities embracing multi-colored hair wigs and extensions is projected to propel growth in the artificial hair integrations market. In addition, the expanding accessibility of customized installation-based hairdressing services is projected to introduce further opportunities for growth in the industry.

What is the Current Structure for Global Hair Extension Market?

By Type, Clip-in Segment Registers the Largest Market Share

The clip-in segment held the largest market share in the hair extensions market in 2023. Clip-in hair extensions, also well-known as clip-in wefts, are pre-made and ready-to-use goods that are the least permanent among extensions. They can be effortlessly applied and detached without the usage of chemicals, heat, or pressure, classically taking 5–15 minutes for application at home. These extensions are favored for their easy application procedure and minimal damage to natural hair, which propels their requirement in the market.

By Distribution Channel, Retail Store Registers the Largest Market Share in the Global Market

The retail stores segment holds a significant share in the hair extensions market and is anticipated to maintain a notable CAGR in the forecast period. Retail outlets are favored for their ability to proposeconsiderable discounts across a diversity of products. They appeal prevalence to low- and middle-income demographics owing to their widespread product offerings at affordable prices, reflecting a wider trend in the cosmetics industry. These stores also offer the convenience of a different product variety under one roof, with organized product displays that cater to dissimilar consumer preferences. This availability and affordability contribute progressively to market growth.

By Region, Asia Pacific Dominates the Largest Market Size

In Asia-Pacific, growing levels of air pollution are contributing to augmented incidents of hair loss and damage among its population. This region now registers the global market owing to increased consumer demand for products addressing these problems. Approximately 4 billion individuals, constituting 92% of the Asia-Pacific population, are exposed to air pollution, which unfavorably affects hair health. Exposure to high concentrations of pollutants can harm keratin proteins, cuticles, and cortex in hair fibers, leading to breakage, brittle texture, weakened strands, and complete dryness among citizens in the region.

Competitive Analysis

Dominating market players are investing significantly in research and development to expand their product portfolios, thereby propelling further growth in the hair extension market. These market players are implementing different strategic initiatives to improve their global presence, comprising launching new products, forming partnerships through contractual agreements, pursuing mergers and acquisitions, growing investments, and collaborating with other popular organizations. In this competitive and rising market environment, competitors in the hair extension industry must proposecost-effective products to expand their market share and confirm sustainability.Some of the key players includes are Great Lengths Universal Extensions S.r.L., Balmain Hair Group B.V., and Hair Versions International S.r.L

Market Segmentation

Global Hair Extension Market, by Type

• Tape-in
• Fusion and Pre-Bonded
• Clip-in
• Weft
• Others

Global Hair Extension Market, by Distribution Channel

• Retail Stores
• Super Markets
• E-Commerce

Global Hair Extension Market, by Region

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • Russia
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Rest of Asia-Pacific
• Latin America
  • Mexico
  • Brazil
  • Argentina
  • Rest of Latin America
• Middle East & Africa
  • GCC Countries
  • Turkey
  • South Africa
  • Rest of Middle East & Africa

Market Players Included

• Perfect Locks LLC
• Jon Renau
• Great Lengths S.p.A Societa Benefit
• The Gorgeous Hair
• Mayvenn
• Balmain Hair Couture
• So Cap USA
• Shake-N-Go, Inc
• SalonLabs Exports India Pvt Limited
• Hairlux
• Evergreen Products Group Limited
• Locks & Bonds
• Hairdreams Haarhandels GmbH
• Hairlocs
• Beauty Industry Group Inc