[Latest] Hair Extensions Market Size, Forecast, Analysis & Share Surpass US$ 5.89 Billion By 2030, At 6.3% CAGR

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The Hair Extensions Market was at US$ 3.40 Billion in 2021 and is growing to approx US$ 5.89 Billion by 2030, with a CAGR growth of 6.3% between 2023 and 2030.

The Hair Extensions Market was estimated at USD 3.40 Billion in 2021 and is anticipated to reach around USD 5.89 Billion by 2030, growing at a CAGR of roughly 6.3% between 2023 and 2030.” - Custom Market InsightsAUSTIN, TEXAS, UNITED STATES, April 30, 2023 /einpresswire.com / -- According to the study, The hair extensions market was estimated at USD 3.40 Billion in 2021 and is anticipated to reach around USD 5.89 Billion by 2030, growing at a CAGR of roughly 6.3% between 2023 and 2030.

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Hair Extensions Market: Overview

The hair extensions market is a highly competitive and fragmented market, with a large number of small and medium-sized companies operating globally. Mergers and acquisitions can be a key strategy for companies in this industry to expand their market share, increase their product portfolio, and gain access to new distribution channels.

In recent years, there have been several notable mergers and acquisitions in the hair extensions market. For example, in 2019, L'Oreal acquired the German professional hair extensions brand, Great Lengths. In the same year, Bellami Hair, a leading hair extensions brand, was acquired by the private equity firm, ACON Investments.

Overall, M&A activity in the hair extensions market is expected to continue as companies look to consolidate their positions and gain a competitive advantage in this growing industry.

Hair Extensions Market: Growth Drivers

The increasing demand for hair styling products, including hair extensions, can be attributed to the growing demand for hair products in urban areas. The rising popularity of hair extensions among people is a direct result of this trend. Furthermore, peer pressure is also an important factor that is contributing to the growth of the hair extensions market, especially among women from affluent backgrounds. These women are often under pressure to conform and be accepted by their peers, and as a result, they tend to compete with each other in terms of physical appearance and fashion, leading to a higher demand for hair extensions and other beauty products.

The hair extensions market is witnessing various opportunities due to the increasing use of high-end grooming products by consumers. To match their appearance with temporary trends, consumers are using more fashionable and premium grooming products. This trend presents an opportunity for businesses to create cutting-edge hair extensions and other related products. Additionally, the growing demand for multi-colored hair extensions among celebrities and artists is expected to create market expansion opportunities for new artificial hair integrations.

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Key Insights:

A) As per the analysis shared by our research analyst, the Hair Extensions market is estimated to grow annually at a CAGR of around 6.3% over the forecast period (2023-2030).
B) In terms of revenue, the Hair Extensions market size was valued at around USD 3.40 Billion in 2021 and is projected to reach USD 5.89 Billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) Product Innovation: Hair extension companies are investing in research and development to create innovative products that cater to the evolving demands of consumers. This includes developing new hair extension materials, colors, textures, and installation methods.
D) Technological advancements: Technological advancements in the manufacturing of hair extensions have led to the development of high-quality, natural-looking hair extensions that blend seamlessly with natural hair. These advancements have made hair extensions more accessible to a wider range of consumers.
E) Limited availability of high-quality hair: High-quality, natural-looking hair extensions can be difficult to find, as there are limited sources of high-quality hair. This can result in a limited supply of high-quality hair extensions, which can impact the availability of the product in the market.

Press Release For Hair Extensions Market :

Regional Landscape

The hair extensions market can be analyzed on a regional basis, covering key regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America and Europe held significant shares in the global hair extensions market in 2021 and are expected to maintain their dominance during the forecast period.

The market growth in these regions is attributed to the presence of a large number of cosmetic manufacturers and a high demand for hair extensions for personal and professional purposes. Additionally, the increasing trend of celebrities openly using hair extensions and rising disposable income among consumers are driving the demand for hair extensions in these regions.

The Asia Pacific region is expected to witness substantial growth in the hair extensions market during the forecast period. The rising demand for hair extensions in countries such as China and India is a significant factor contributing to the growth of the market in this region. Increasing awareness about hair care and grooming products among consumers is also fueling the demand for hair extensions in this region. Moreover, the growing number of salons and beauty parlors in developing economies is likely to create a favorable environment for market growth.

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Key Players

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

The Hair Extensions Market is segmented as follows:

By Type

Synthetic Hair Extension
Human Hair Extension
Animal Hair Extension

By End Use

Professional
Personal

By Fitting Type

Clip-In
Micro Link
Tape-In
Glue-In

By Distribution Channel

Retail Stores
Super Markets
E-Commerce

By Geography

North America

The USA
Canada
Mexico
Europe
The UK
Germany
France
Italy
Russia
Rest of Europe

Asia Pacific

China
India
Japan
South Korea
Malaysia
Philippines
Rest of Asia-pacific

Latin America

Brazil
Rest of Latin America
Middle East and Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa

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