Hair Wigs And Extensions Market Size, Share & Trends Analysis Report By Product (Wigs, Extensions), By Hair Type (Human Hair, Synthetic Hair), By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global hair wigs and extensions market size was valued at USD 6.46 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 8.4% from 2023 to 2030. Wigs have become a major driving force in fostering self-confidence and enhancing aesthetics, enabling remarkable transformations. They empower individuals to freely express themselves and explore various styles without any permanent changes. The surge of social media platforms such as Instagram and TikTok has ignited a wave of wig-related content, with renowned hairstylists divulging their styling tips and tricks. As a result, people are now more open to experimenting with vibrant colors and diverse styles, embracing the endless possibilities offered by hair wigs and extensions.

Hair loss is a widespread issue affecting both men and women globally. The rising prevalence of hair-related conditions, such as alopecia, is a major driver behind the growth of the hair wig industry. According to a study by the National Library of Medicine in April 2020, around 700,000 individuals in the U.S. suffer from alopecia areata, with women accounting for half of those cases. The increasing awareness and concerns about such conditions are contributing to the expansion of the industry.

The market for hair wigs & extensions is also driven by the widespread use of temporary hair loss solutions such as wigs, headscarves, and hats, especially among individuals undergoing chemotherapy due to cancer. Many governments worldwide have taken steps to support cancer patients in this regard. An example is the Government of Ireland's initiative unveiled in May 2022 by the Minister for Social Protection, Heather Humphreys. It involves a USD 546.21 grant to aid individuals experiencing hair loss due to illness. The grant specifically covers expenses for hairpieces, wigs, or replacements, and will be managed through the Department of Social Protection's Treatment Benefit Scheme. The focus of this grant is to provide support to individuals facing hair loss, particularly those undergoing cancer treatments.

The growing popularity of subscription-based models in the hair styling industry offers players a significant opportunity in this market. Manufacturers can capitalize on the rising product demand for a longer period and increase their customer base by providing excellent quality products on a regular basis.

For instance, U.S.-based Superhairpieces.com offers a hair system subscription program that is free of cost and can be customized as per requirement. The company offers different plans - 3 pieces a year, 4 pieces a year, 6 pieces a year, and 12 pieces a year - and supplies human hair wigs and extensions of various sizes and types, including regular hair, basic hair, premium hair, ultra-premium hair, and European hair.

As consumers increasingly prioritize sustainability and ethical lifestyle choices, players in the market are investing in research for safer materials, adopting eco-friendly practices, and enhancing waste management and recycling efforts. For instance, Rebundle's ReGen Hair Fiber is made from banana fibers and serves as a biodegradable alternative to plastic-based hair extensions. Manufacturers have been capitalizing on the need for sustainable hair styling solutions to meet the demands of eco-conscious consumers, build trust, and differentiate their brands.

The market for men's hair wigs and extensions is expanding as a result of men's increasing awareness of personal hygiene and routine grooming, as well as more product releases, celebrity endorsements, and greater disposable income. According to an article published by Medihair in July 2023, around 33% of women and 85% of men experience hair loss. About 95% of cases of male hair loss are caused by androgenetic alopecia or male pattern baldness. In addition, according to the International Society of Hair Restoration Surgery (ISHRS), an average of 396 people per member underwent non-surgical hair restoration procedures under the care of ISHRS physicians in 2021.

Product Insights

The dominance of wigs in the market is evident, accounting for over 75% of the market share in 2022. The growing demand for hair wigs and diverse problems among consumers in choosing an ideal option have led to the growth of digitalization and developments in technology. For instance, in April 2021, Evergreen Products Group Limited, a wholesaler of wigs and extensions, announced plans to develop and invest in digital wigs using non-fungible tokens (NFTs). The group partnered with Shadow Factory Limited, a Hong Kong-based XR content and software provider, for the technical execution of an augmented reality-powered e-commerce platform for customers to try out wigs before buying.

The demand for extensions is projected to expand at a CAGR of 8.9% in the hair wigs and extensions industry. The rising demand for these products can be primarily attributed to the growing popularity and use of extensions among women seeking enhanced hair volume. Additionally, the increasing adoption of hair extensions can be linked to their availability in various attachment techniques that minimize hair damage.

These extensions offer the opportunity to experiment with various lengths, colors, and styles. Extensions provide an immediate solution and quick transformation to consumers looking for longer or thicker hair without waiting for their natural hair to grow. Such products are considered ideal among consumers seeking a temporary or semi-permanent change in their appearance.

Hair Type Insights

In 2022, human hair emerged as the dominant hair type in the market, accounting for 66% of the revenue share. This segment drives higher revenue owing to the high cost of sourcing human hair. Most wigs are made from synthetic materials, but human hair wigs and hairpieces constitute a significant portion of the industry revenue due to their higher price points. The demand for human hair is primarily driven by their premium quality and natural appearance. They can be styled and colored just like natural hair, providing versatility and customization options for users.

The synthetic hair segment is poised to expand at a CAGR of 8.7% in the forecast period. Technological advancements in the production and design of hair wigs have been instrumental in driving market growth. Significant improvements in aesthetics and design, including advanced fiber selection, have resulted in lighter and more versatile wigs and extensions. For instance, the use of flame retardant and heat-resistant fiber 'futura’ in synthetic wigs is offered by a Nigerian company, 10x10. Such developments have improved the quality and appearance of synthetic wigs.

Regional Insights

In 2022, the North American region emerged as the industry leader, capturing a significant share of over 40% of the overall revenue. This dominance is fueled by the rising disposable income of consumers in North America, translating to increased spending on personal well-being and beauty items, including hair wigs and extensions. This upward trajectory is further accelerated by the influx of new entrants into the North American market.

As the market gains traction, there is a parallel rise in the establishment of fresh supply stores, catering to the growing demand for diverse types of extensions and wigs. The inauguration of Charlene’s Beauty Supply in Elk Grove, California in May 2023 is an illustration of this. This new establishment focuses on delivering a range of hair care products and top-tier medical-grade wigs and extensions, solidifying the region's position as a key driver in the industry.

The Asia Pacific region is expected to achieve the highest growth rate in the hair wigs and extensions market of about 9.6% over the forecast period. This region has become a lucrative market for hair products and accessories, including wigs and extensions, due to the presence of numerous small and large players catering to diverse consumer demands. Moreover, according to a 2023 article by Scandinavian Biolabs, Hong Kong (44.4%) and India (14.3%) are among the leading exporters of human hair to other parts of the world, further bolstering the significance of the Asia Pacific region in the global hair industry.

Key Companies & Market Share Insights

The market for hair wigs and extensions is a blend of traditional players, innovative newcomers, evolving technologies, and changing consumer demands. A major focus of these companies has been on improving operations, collaborations, product launches, and acquisitions. Some recent developments in the industry include:

• In October 2022, Aderans Co., Ltd. launched its third-generation functional artificial hair called "CYBER X." Through its exclusive technology aimed at diminishing shine, the company has managed to replicate natural hair shine, finishing the product with a sea-island structure comprising polyamide and polyester. By combining these two elements, the company effectively crafted an optimal hair fiber with qualities such as resilience, durability, and volume

• In October 2022, Aderans Co., Ltd. introduced the Toppiece "OGT05" from Swanee by Fontaine and René of Paris by Fontaine, sister brands of Fontaine, the company's ready-made wig brand for women. This novel product was designed to provide partial hair volume using a base net that is integrated with a skin net. By integrating these base and skin nets, the company managed to effectively reduce the net's weight by approximately fifty percent when compared to its conventional base nets

 Some of the key players operating in the global hair wigs and extensions market include:

• Evergreen Products Group Limited

• Godrej Consumer Products Ltd.

• Artnature Inc.

• Aderans Co., Ltd.

• Donna Bella Hair

• F.N. Longlocks

• Aleriana SRL

• Klix Hair Extensions

• Indique Hair

• Shake-N-Go, Inc.

Hair Wigs And Extensions Market Report Scope

Global Hair Wigs And Extensions Market Report Segmentation

This report forecasts revenue growth at the global, regional & country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2030. For the purpose of this study, Grand View Research has segmented the global hair wigs and extensions market report on the basis of product, hair type, and region:

• Product Outlook (Revenue, USD Million, 2017 - 2030)

  • Wigs

  • Extensions

• Hair Type Outlook (Revenue, USD Million, 2017 - 2030)

  • Human Hair

  • Synthetic Hair

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

    • Indonesia

  • Central & South America

    • Brazil

  • Middle East & Africa

    • South Africa