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

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.