In case of COVID-19, in North America, especially the US, witnessed an unprecedented rise in number of coronavirus cases, which led to the discontinuation of hair extensions manufacturing activities. Other consumer goods manufacturing sector has subsequently impacted the demand for hair extensions during the early months of 2020. Moreover, decline in the overall entertainment & fashion products manufacturing activities has led to discontinuation of hair extensions manufacturing projects, thereby reducing the demand for hair extensions. Similar trend was witnessed in other North American countries, i.e., Mexico, Canada, Panama, and Costa Rica. However, the countries are likely to overcome thus drop in demand with the economic activities regaining their pace, especially in the beginning of the 2021.
With the new advancements and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America hair extensions market. The middle-class population, which is the next potential consumer segment for the personal care and cosmetic industry, has surged significantly. With the increase in per capita disposable income among the middle-class population, their shopping behavior and living standards are changing rapidly. In the current market scenario, the number of consumers visiting branded salons is greater than ever before, owing to their proactive search for branded products, including hair care and skincare products. Such consumers are often the main targets for consumer-focused businesses on account of their discretionary spending power. However, for reaching out to middle-income consumers, organizations need a deep understanding of their income and expenditure levels and their values and spending priorities. While these vary considerably among the emerging and developed countries, middle-class individual in the developing economies can be extremely diverse. There is a noticeable change in middle-class spending patterns, which is projected to affect the North America hair extensions market. With the rise in disposable income in the middle-class population, their shopping behavior and living standards are rapidly changing, thereby affecting the grooming market. Such factors are driving the demand for the hair extensions.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 1,311.99 Million |
| Market Size by 2028 | US$ 1,679.35 Million |
| Global CAGR (2021 - 2028) | 3.6% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |