USD 6.13 billion
Hair Wig Market Size, Share, Growth Analysis, By Product Type(Human Hair, Synthetic Hair), By End Use(Men, Women, Other), By Distribution Channel(Online, Offline), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25K2091 |
Region:
Global |
Published Date: July, 2001
Pages:
270
|Tables:
88
|Figures:
76
Hair Wig Market Insights
Hair Wig Market size was valued at USD 6.13 billion in 2022 and is poised to grow from USD 6.46 billion in 2023 to USD 12.27 billion by 2031, growing at a CAGR of 8% in the forecast period (2024-2031).
The main driver of industry growth is the increasing frequency of hair-related issues, such as alopecia, over the world. Alopecia areata affects over 70,000 Americans, half of whom are women, according to a report released by the National Library of Medicine in April 2020. The public's growing concern over these ailments is contributing to the industry's expansion.
Additionally, a lack of raw materials like human and synthetic hair stemmed from supply delays caused by various restrictions enforced by regional governments to impede the virus's spread.
Shipments of raw materials and completed goods were slowed down or stopped during this time, which had a substantial influence on global product demand. The use of hair wigs by young people and millennials to enhance their physical appearance is predicted to fuel the industry's expansion. The growing impact of social media in encouraging the usage of wigs and extensions as well as celebrity endorsements are some of the other major drivers of the industry's expansion.
Additionally, the geriatric population's increasing usage of wigs to conceal the problem of alopecia is anticipated to support business growth. The population of people 60 and over was 1.4 billion in 2019, and the World Health Organization (WHO) predicts that number will quadruple to 2.1 billion by 2031. Additionally, major players are releasing specially made hair-related products that best meet consumer demand. For instance, Hi-MO LLC offers individualised items including hair wigs, hair colour, hair care, and others for each customer. Consumer usage of wigs has been prompted by the rising prevalence of androgenetic alopecia, or baldness as it is more widely called.
US Hair Wig Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Offline
Fastest Growth
Offline
Growth Rate
8% CAGR
Global Hair Wig Market ($ Bn)
Country Share for North America Region (%)
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Hair Wig Market Segmental Analysis
The Global Hair Wig Market segmentation is based on Product Type, End Use, Distribution Channel and Region. Based on Product Type the market is segmented into Human Hair, and Synthetic Hair. Based on End Use the Hair Wig Market is segmented into Men, Women, and Other. Based on Distribution Channel the Hair Wig Market is segmented into Online, and Offline. Based on Region the global hir wig market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Hair Wig Market Analysis by Product Type
The Human hair segment has dominated the market by providing real natural and harvested human hair. As these wigs are made of real human hair, they provide natural look and lasts longer. Synthetic hair segment is also on a sturdy growth but due to synthetic hair wigs are made up of man-made fibres that last significantly longer than real hair their price are quite cheaper and accordingly based on consumer prefereance the market is escalating the usage among users.
Hair Wig Market Analysis by End Use
Men segment accounted for major market share due to increasing hair loss cases causing them to buy these products frequently for regular use. The women's market, on the other hand, has seen a significant increase as many ladies have used the product to showcase or compliment their preferred style.
Hair Wig Market Analysis by Distribution Channel
The key distribution methods for hair wigs and extensions around the world are online platforms, physical stores, and middlemen such as hair salons and hair stylists. Vendors in nations like the United States and the United Kingdom offer their goods mostly through specialty and beauty stores, hypermarkets, and online general marketplace platforms. Hair clinics, beauty stores, specialty stores, and fashion stores have also been important sales partners for hair wigs and extensions. Specialty stores and salons are attractive to vendors because they provide specialised client service, which typically translates into higher sales prices. Manufacturers and resellers provide a variety of products through online storefronts. Because of the ease of access and convenience, many people are looking for e-tailing services to purchase wigs or extensions online. Furthermore, internet channels use social media to promote their items, which is a major driver of market growth.
Global Hair Wig Market By Distribution Channel
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Hair Wig Market Regional Insights
With a hair wig market share of over 40% in 2020, North America dominated the worldwide hair wigs market. Consumers are aiming to cut back on harsh chemicals such as peroxide serums. Human hair wigs are becoming increasingly popular due to their natural appearance. Over the forecast period, the Asia Pacific Hair Wigs Market is anticipated to develop at the quickest rate. As demand for high-quality hair products develops, manufacturers are increasingly locating manufacturing facilities in Asia-Pacific, particularly China and India. Every year, around thirty and forty million pilgrims visit the temple, and 10% to 25% of them, both men and women, shave their heads as a sign of humility and sacrifice. Temples like Tirumala holds a auction which is part of a multi-billion dollar market for human hair. Based on supply, China leads the human hair market.
Global Hair Wig Market By Region
- Largest
- Fastest
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Hair Wig Market Dynamics
Hair Wig Market Driver
Increase in Hair Loss Individuals Drive The Global Hair Wig Market
- Around 40% of males worldwide experience some degree of hair loss or thinning as a result of ageing. Hair extensions are commonly used to hide hair loss. The global market for hair wigs and extensions is expected to grow as the incidence of hair loss, alopecia, casts, and other disorders rises. Hair is an important part of a person's appearance and can have a big influence on their perceived beauty and self-esteem. Many people who lose their hair will have some psychological effects. As a result, in order to fill this void many people are getting attracted towards buying hair wig and so the market for hair wig is growing.
R&D of Synthetic Hair Wig likely to Drive Hair Wig Market Growth
- Low Maintenance, low cost, color retention, hundreds of choices to choose and quality are the things which attracts the consumer most and many companies are working on this factor in order to attract consumers. Synthetic hair wigs are growing in popularity because to technological advancements in their production and design.
Hair Wig Market Restraint
Awareness of Anti-Hair loss treatments to hinder the growth of Global Hair Wig market
- For Hair Loss Treatments, the hair wig market was worth USD 8 billion in 2019 and is expected to increase to USD 11 billion by 2027, with a CAGR of 3.83% between 2020 and 2027. There is a rise in demand for hair loss products with increasing population. Companies are focusing on introduction new products that would prevent hair loss and this is likely to have an impact on growth of global hair wig market.
The High Expenses of Human Hair Wig are A Major Deterrent to The Global Hair WigMarket
- Although human hair wig provides natural look and lasts for a longer time but the cost of this wig is higher. This is due to high labour cost with branding and manufacturing expenses hinders the growth.
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Hair Wig Market Competitive Landscape
The key players in the Hair Wig market are working on continuous innovation and research & development in order to provide hair wig as per the preferences of the consumer. For example, In 2021, Donna Bella introduced an hair extension app for Iphone users providing different options like client tracker shopping and more.
Hair Wig Market Top Players Company Profiles
- Aderans Co., Ltd.
- Godrej Consumer Products Limited
- Henan Ruimei Hair Products Co. Ltd.
- Rebecca Fashion Co., Ltd.
- Artnature Inc.
- Fortune Wigs Inc.
- Hairline Illusions Inc.
- Motown Tress
- SNG Hairwala
- The Hair Shop Inc.
- Tony of Beverly
- Vapon Inc.
- Wigsbuy.com
- Hairline International
- L Hair Boutique
- Norgil Canada
- HairUWear Inc.
- Qingdao Mike & Mary International Co., Ltd.
- Xuchang UNice Hair Products Co. Ltd.
- Zury Hollywood Wigs.
Hair Wig Market Recent Development
- In June 2022, Cancer survivor beauty queen competes in Miss Universe wearing wig after losing hair.
- In May 2022, Parfait, an A.I. wig customization platform to use facial recognition and A.I. to provide buyers with customizable wig products.
Hair Wig Key Market Trends
- Women accounted for 92% of all cosmetic procedures while males 8% of all cosmetic procedures. Individuals over the age of 40 are concerned with their physical appearance and want to look young. As a result, the increased emphasis on cosmetic traits especially by women, particularly in developed countries, is expected to drive Hair Wig market growth.
Hair Wig Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, by product type, human hair segment held the largest share,by End Use, the men segment dominated the global hair wig market and is anticipated to maintain its dominace throughout the forecast period. By distribution channel, offline segment was responsible for major market share. In 2021, North America dominated the global hair wig market owing to the region's highly aware and economically stable population.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 6.13 billion |
| Market size value in 2031 | USD 12.27 billion |
| Growth Rate | 8% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Hair Wig Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Hair Wig Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Hair Wig Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Hair Wig Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Hair Wig Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Hair Wig Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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