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Hair Extensions: Overview
The hair extensions market size was valued at $2.9 billion in 2021, and is estimated to reach $6.3 billion by 2031, growing at a CAGR of 8.2% from 2022 to 2031.
By Type, the human hair extensions segment was the highest revenue contributor to the market in 2021.” - Roshan DeshmukhWILMINGTON, NEW CASTLE, DE, UNITED STATES, September 11, 2024 /EINPresswire / -- According to a new report published by Allied Market Research, titled,“Hair Extensions Market by Type, by Fitting Type, by Distribution Channel, by End Use: Global Opportunity Analysis and Industry Forecast, 2021-2031". The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
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The market for hair extensions is mostly driven by the rising hair loss among individuals. Hair loss is a serious health problem right now. The effects of frantic lifestyles and inadequate nutrient intake on the human body are negative. Men are more likely to experience alopecia, a receding hairline, and pattern baldness, whereas women are more likely to experience hair thinning. In both men and women, androgenetic alopecia is a common kind of hair loss. During the industrial revolution, the wealthier male population and officers of particular ranks, such as lawyers and judges, were frequently seen wearing hair extensions.
The hair extensions market is poised for substantial growth in the foreseeable future, driven by several factors. Increasing adoption of hair extensions in the fashion and entertainment sectors, coupled with a rise in hair loss cases among individuals, is fueling market expansion. Notably, numerous actresses, models, and celebrities have publicly endorsed the use of hair extensions, significantly influencing their widespread adoption for cosmetic purposes. Moreover, the prevalence of hair loss, a pressing health concern, underscores the demand for hair extension solutions. Lifestyle stressors and inadequate nutrition contribute to adverse effects on hair health, with men facing issues like alopecia and pattern baldness, while women commonly encounter hair thinning. These dynamics collectively contribute to the global hair extensions market's growth trajectory.
The hair extensions market analysis is segmented on the basis of type, fitting type, distribution channel, end use, and region. By type, the hair extensions market is classified into synthetic hair extensions, human hair extensions, and animal hair extensions. By fitting type, the market is classified into clip in, micro link, tape in, and glue in. By distribution channel, the market is segmented into retail stores, supermarkets, and e-commerce. By end use, the market is categorized into professional and personal. Region wise, it is analyzed across North America (U.S., Canada, Mexico), Europe (Germany, UK, France, Italy, Belgium, Russia, Netherlands, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, Thailand, Indonesia, Rest of Asia-Pacific), and LAMEA (Brazil, Argentina, UAE, Saudi Arabia, Chile, Turkey, South Africa, and rest of LAMEA).
On the basis of type, the hair extensions market is segmented into synthetic hair extensions, human hair extensions, and animal hair extensions. The human hair extensions segment accounted for a major hair extensions market share in market in 2021 and is expected to grow at a significant CAGR during the forecast period.
By fitting type, the hair extensions market is segmented into clip in, micro link, tape in, and glue in. The clip in segment accounted for a major share in the hair extensions market in 2021 and is expected to grow at a significant CAGR during the forecast period. Consumers demanding a quick and easy change of hairstyle is a key factor increasing the demand for clip-in hair extensions.
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By distribution channel, the market is segmented into retail stores, supermarkets, and e-commerce. The retail stores segment accounted for a major share in the hair extensions market in 2021 and is expected to grow at a significant CAGR during the forecast period. These retailers also offer a wide selection of products under one roof and enable categorized product display. People with low and moderate incomes favor these stores. These components help the market to grow.
By end use, the market is categorized into professional and personal. The professional segment accounted for a major share in the hair extensions market in 2021 and is expected to grow at a significant CAGR during the forecast period. The growing popularity of hair extensions is dismantling the stigma associated with their use. Such factors are increasing the demand for hair extensions in this segment.
By region, it is analyzed across North America (U.S., Canada, Mexico), Europe (Germany, UK, France, Italy, Belgium, Russia, Netherlands, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, Thailand, Indonesia, Rest of Asia-Pacific), and LAMEA (Brazil, Argentina, UAE, Saudi Arabia, Chile, Turkey, South Africa, and rest of LAMEA). The North America hair extensions market accounted for a major share in the hair extensions market in 2021 and is expected to grow at a significant CAGR during the forecast period.
The major players analyzed for the global hair extensions industry is Mayvenn, So Cap USA, Shake-N-Go, Inc, Hairdreams Haarhandels GmbH, Beauty Industry Group Inc, Jon Renaum, Evergreen Products Group Limited, Hairlux, Hairlocs, Balmain Hair Couture, SalonLabs Exports India Pvt Limited, The Gorgeous Hair, Great Lengths S.p.A Societa Benefit, Locks & Bonds, and Perfect Locks LLC.
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Key Benefits For Stakeholders:
○ This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the hair extensions market analysis from 2021 to 2031 to identify the prevailing hair extensions market opportunities.
○ The market research is offered along with information related to key drivers, restraints, and opportunities.
○ Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
○ In-depth analysis of the hair extensions market segmentation assists to determine the prevailing market opportunities.
○ Major countries in each region are mapped according to their revenue contribution to the global market.
○ Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
○ The report includes the analysis of the regional as well as global hair extensions market trends , key players, market segments, application areas, and market growth strategies.
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