Hair Wigs and Extensions Market Size, Share, Growth Analysis, By Product Type(Wigs and extensions), By Hair Type(Human hair and synthetic hair), By Region - Industry Forecast 2024-2031

Hair Wigs and Extensions Market size was valued at USD 6.13 billion in 2021 and is poised to grow from USD 6.46 billion in 2022 to USD 12.27 billion by 2030, growing at a CAGR of 8% in the forecast period (2023-2030).

The hair wigs and extensions market is highly competitive, with a large number of players operating in the industry. Some of the major players in the market offer a wide range of products and services, from synthetic wigs and hair extensions to high-quality human hair wigs and extensions. They compete on the basis of product quality, price, design, distribution channels, and brand reputation. In addition to these major players, there are also many smaller companies and independent sellers operating in the market. These players often specialize in specific types of wigs and extensions or serve niche markets. The hair wigs and extensions market is expected to continue growing in the coming years, driven by factors such as increasing disposable income, changing fashion trends, and growing awareness about hair care products. As a result, the competition in the market is likely to intensify, with players striving to differentiate themselves and gain a competitive edge. 'Godrej Consumer Products Ltd.', 'Great Lengths', 'Balmain Hair', 'Hairdreams', 'Cinderella Hair', 'Socap Original USA', 'Donna Bella Hair', 'Klix Hair Extension System', 'Hairlocs', 'UltraTress', 'Racoon International', 'Hair Addictionz', 'Easihair Pro', 'SO.CAP. USA Hair Extensions', 'Platinum Seamless', 'Hairtalk GmbH', 'Luxia Artiss Paris', 'HairArt Products', 'Hidden Crown Hair Extensions', 'Babe Hair Extensions', 'In June 2022, three college buddies who formed WAEVE will provide high-quality services mostly to black people. The team promised to release a collection of six distinct wig styles four times annually, and it intends to donate 2% of its profits to charitable causes. Customers who buy wigs also get a beginning kit that includes four wig caps in two different colors, a silicone grip, scissors, and tweezers for plucking the hairline.', 'In April 2021, Evergreen Products Group Ltd. made an investment in a brand-new line of digital wigs using non-fungible token technology. The team is trying to build a direct-to-consumer (D2C) e-commerce platform that will allow people to try on wigs before buying them.'

One of the key drivers of the hair wigs and extensions market is the increasing demand for these products due to changing fashion trends and rising beauty consciousness among consumers. Hair wigs and extensions are now considered essential accessories by many people, including celebrities and fashion icons, and are widely used to enhance the appearance of hair, add volume, and improve overall hair texture. In addition, the increasing prevalence of hair loss problems, such as alopecia and pattern baldness, has also led to the growth of the hair wigs and extensions market. Many people who suffer from hair loss problems use hair wigs and extensions to cover up bald spots and achieve a more natural-looking appearance.

A key trend in the hair wigs and extensions market is the increasing popularity of human hair wigs and extensions over synthetic ones. Human hair wigs and extensions offer a more natural look and feel and can be styled and colored just like natural hair. Another trend is the growing demand for sustainable and eco-friendly hair wigs and extensions, as consumers become more aware of the environmental impact of fast fashion and seek more sustainable alternatives.

North America dominated the market. The increasing penetration and use of wigs and extensions across all age groups is credited with the region's rise. The hair accessories in the area are utilized as both useful and decorative items. The U.S. imports more hair products than any other country in the world. The Observatory of Economic Complexity (OEC) estimates that in 2020, the United States accounted for 53.6% of imports of wigs, fake beards, and similar goods. Furthermore, the expanding popularity of Halloween products in the region leads to a high usage of hair goods as a part of various types of costumes, which contributes to the region's industry's growth.

Hair Wigs and Extensions Market size was valued at USD 6.77 billion in 2022 and is poised to grow from USD 7.35 billion in 2023 to USD 14.11 billion by 2031, at a CAGR of 8.5% during the forecast period (2024-2031).

The hair wigs and extensions market is highly competitive, with a large number of players operating in the industry. Some of the major players in the market offer a wide range of products and services, from synthetic wigs and hair extensions to high-quality human hair wigs and extensions. They compete on the basis of product quality, price, design, distribution channels, and brand reputation. In addition to these major players, there are also many smaller companies and independent sellers operating in the market. These players often specialize in specific types of wigs and extensions or serve niche markets. The hair wigs and extensions market is expected to continue growing in the coming years, driven by factors such as increasing disposable income, changing fashion trends, and growing awareness about hair care products. As a result, the competition in the market is likely to intensify, with players striving to differentiate themselves and gain a competitive edge. 'Godrej Consumer Products Ltd.', 'Great Lengths', 'Balmain Hair', 'Hairdreams', 'Cinderella Hair', 'Socap Original USA', 'Donna Bella Hair', 'Klix Hair Extension System', 'Hairlocs', 'UltraTress', 'Racoon International', 'Hair Addictionz', 'Easihair Pro', 'SO.CAP. USA Hair Extensions', 'Platinum Seamless', 'Hairtalk GmbH', 'Luxia Artiss Paris', 'HairArt Products', 'Hidden Crown Hair Extensions', 'Babe Hair Extensions', 'In March 2024, HairOriginals, a direct-to-consumer (D2C) brand specializing in hair extensions and wigs, is preparing to unveil its largest experience center in Hi-Tech City, Hyderabad. Spanning 2500 square feet, this flagship store will showcase a diverse array of solutions tailored for both men and women, representing a major achievement for the brand. ', 'In February 2024, Gymshark, a British fitness brand, is set to introduce its Diffuse Sweat headband in the U.S. this month. Leveraging insights from its diverse team and their experiences, the product was initially launched in the U.K. and the E.U. on February 15, with the U.S. launch following on February 19. ', 'In April 2023, Kevin Murphy Group acquired the hair extensions company Showpony.'

One of the key drivers of the hair wigs and extensions market is the increasing demand for these products due to changing fashion trends and rising beauty consciousness among consumers. Hair wigs and extensions are now considered essential accessories by many people, including celebrities and fashion icons, and are widely used to enhance the appearance of hair, add volume, and improve overall hair texture. In addition, the increasing prevalence of hair loss problems, such as alopecia and pattern baldness, has also led to the growth of the hair wigs and extensions market. Many people who suffer from hair loss problems use hair wigs and extensions to cover up bald spots and achieve a more natural-looking appearance.

A key trend in the hair wigs and extensions market is the increasing popularity of human hair wigs and extensions over synthetic ones. Human hair wigs and extensions offer a more natural look and feel and can be styled and colored just like natural hair. Another trend is the growing demand for sustainable and eco-friendly hair wigs and extensions, as consumers become more aware of the environmental impact of fast fashion and seek more sustainable alternatives.

North America dominated the market. The increasing penetration and use of wigs and extensions across all age groups is credited with the region's rise. The hair accessories in the area are utilized as both useful and decorative items. The U.S. imports more hair products than any other country in the world. The Observatory of Economic Complexity (OEC) estimates that in 2020, the United States accounted for 53.6% of imports of wigs, fake beards, and similar goods. Furthermore, the expanding popularity of Halloween products in the region leads to a high usage of hair goods as a part of various types of costumes, which contributes to the region's industry's growth.