Hair extension Market Size was valued at USD 7.20 billion in 2024. The hair extension market industry is projected to grow from USD 7.57 Billion in 2024 to USD 10.98 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.76% during the forecast period (2023 - 2030). The main market driver for the growth is the increasing frequency of hair-related issues, such alopecia, over the world. The hair extension market is thriving as more people seek versatile options to enhance their hairstyles, making it a dynamic segment within the broader hair market.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Technological advancements in their creation and design are one of the main factors fueling the growth of the synthetic hair extension market. For instance, in January 2022, Shark Tank India provided investment to Hair Originals, a startup company in India, to develop its AI-powered direct-to-consumer (D2C) platform and give customers more options for high-quality, reasonably priced products. The AI integration provides a real-time trial experience and support for AR/VR capabilities that the funds will support. Additionally, technology is used to give hair extension a natural hair looks while being more cost-effective and low-maintenance. Thus, it is anticipated that throughout the projected period, technical advancements in the manufacture and design of south American hair extensions will propel the expansion of the worldwide extension market. Thus, this factor is driving the market CAGR.
Furthermore, another major market trends that is fostering market expansion is the rising importance of celebrities and social media influencers. Major firms like Godrej Consumer Products emphasize brand exposure through fashion events like Soweto Fashion Week due to the prevalence of celebrities and social media influencers among consumers. A highly engaged fanbase, a lower price point, a higher level of authenticity, and simplicity of marketing are just a few of the reasons why micro-influencers are gradually replacing mainstream commercials as the preferred promotional channel. Thus, it is anticipated that the increasing use of hair extension by well-known Hollywood and social media stars like Kylie Jenner, Kim Kardashian, and Ariana Grande will spread to developing economies like India and China, which will accelerate the growth of the market during the forecast period.
Figure 1: US import of hairSource: Secondary Research, Primary Research, MRFR Database and Analyst Review
However, the purchasing habits and living standards of the middle-class people are fast changing because of the rise in per capita disposable income. Due to their proactive quest for branded products, such as hair care and skincare products, customers are attending branded salons in higher numbers than ever before in the current market environment. Due to their ability to make discretionary purchases, these customers are frequently the major focus of consumer-focused enterprises. However, firms must have a thorough awareness of middle-class consumers' income and spending levels, as well as their beliefs and spending priorities. The middle class can look very different in developing economies, even while these differences between emerging and developed nations are significant. As a result, the middle-class population's purchasing habits and level of living are fast changing due to the increase in disposable income, which has an impact on the grooming sector. The demand is being driven by such causes. Thus, it is anticipated that this aspect will accelerate hair extension market revenue ly.
The hair extension market segmentation, based on product type, includes Synthetic Hair Extension, Human Hair Extensions and Animal Hair Extension. The paraffin wax segment held the majority share in 2022 in the hair extension market data. The high penetration of hair extension in North America and Europe, as well as the rising desire for them among millennials, are both factors in the segment's rise. Along with the expansion of the economy, the segment's growth is also attributable to the rising per capita disposable income.
The hair extension market segmentation, based on category, includes Female and Male. The female segment dominated the market growth in 2022 and is projected to be the faster-growing segment during the forecast period, 2022-2030 because more women's styling products in a variety of styles and colors are becoming available.
On the other hand, due to the increased frequency of baldness among the male population, the male sector is anticipated to experience significant development over the forecast period. The demand for the product would rise as a result.
Figure 2: Hair Extension Market, by Category, 2022 & 2030 (USD Billion)Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The hair extension market data, based on distribution channel, includes Store-Based and Non-Store-Based. The non-store-based segment dominated the hair extension market revenue in 2022 and is projected to be the faster-growing segment during the forecast period, 2022-2030. The advent of several internet shopping sites like Amazon.com and E-bay has made it simpler to sell hair extensions. In the upcoming years, it is anticipated that this characteristic will accelerate the expansion of the worldwide human hair extension market.
By Region, the study provides the market insights into North America, Europe, Asia-Pacific, and Rest of the World. Asia Pacific hair extension market accounted for USD 3.1 billion in 2022 with a share of around 46.00% and is expected to exhibit a significant CAGR growth during the study period. The population of the Asia Pacific region experiences problems with hair loss or damage because of the escalating air pollution challenges. Due to the increased consumer demand as a result, the Asia-Pacific region now dominates the market. Additionally, the industry will experience further development due to the rising number of working women and their increased expenditure on cosmetics and personal care items.
Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: HAIR EXTENSION MARKET SHARE BY REGION 2022 (%)Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
North America hair extension market accounts for the second-largest market share ascribed to the fact that the U.S. and Canada have a big number of beauty salons, supporting the product's consumption rate in the area. The shifting preferences of female consumers for high-quality goods will also contribute to the region's market growth. Further, the US hair extension market held the largest market share, and the Canada hair extension market was the fastest growing market in the region.
Europe hair extension Market is expected to grow at the fastest CAGR from 2022 to 2030. To prepare for their regular fashion displays, celebs and fashionistas mostly employ high-end personal care products including trimmers, extensions, straighteners, and others. Therefore, the rate of product consumption in Europe would be driven by the frequent debuts of renowned fashion events like Paris Fashion Week, Milano Moda Main, AltaRomAltaModa, and others. Moreover, UK hair extension market held the largest market share, and the Germany hair extension market was the fastest growing market in the region.
Hair Extension Key Market Players & Competitive Insights
Major market players are spending a lot of money on R&D to increase their product lines, which will help the hair extension market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the hair extension industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
One of the primary business strategies adopted by manufacturers in the hair extension industry to benefit clients and expand the market sector is to manufacture locally to reduce operating costs. In recent years, hair extension industry has provided medicine with some of the most significant benefits. The hair extension market major player such as GREAT LENGTHS UNIVERSAL HAIR EXTENSIONS SRL (Italy), BALMAIN HAIR GROUP B.V. (Netherlands), Easihair pro USA (US), SO.CAP. ORIGINAL USA (US), Donna Bella Hair (US), Cinderella Hair Extensions (US), Racoon International (UK), Viva Femina Inc. (US), Femme Hair Extensions (US) and Evergreen Products Group Limited (China).
Hair products are created, produced, and sold by Evergreen Products Group Limited. The company creates high-end human hair extensions, customers, braids, moustaches, beards, and wigs. Hong Kong is where Evergreen Products Group markets its goods. In April 2021, using non-fungible token technology, Evergreen Products Group Ltd. invested in a new line of digital extension. The team is trying to build a direct-to-consumer (D2C) e-commerce platform that would let customers try on extension before buying them.
Also, a leader in the field, Donna Bella Hair offers thousands of stylists in North America high-quality 100% Remy human hair extensions. All hair extensions are hand-made by skilled professionals with the cuticle intact. For consistency, we also have two quality assurance checkpoints built into our manufacturing process and links with specialized manufacturing facilities.
October 2019: "Jordyn Woods x Easilocks," a grooming line with accessories like clip-in bangs, a ponytail, and a lace U-part wig, was introduced by Jordyn Woods.
March 2019: Westrow Firm announced a cooperation with the well-known product brand Great Lengths, which is owned by the Yorkshire-based hair salon group GREAT LENGTHS UNIVERSAL HAIR EXTENSIONS S.p.A., in order to grow its business in England, U.K.
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