Rising Adoption of Self-Grooming Products Drives Hair Extension Market Growth
According to our new research study on "Hair Extension Market Forecast to 2030 – COVID-19 Impact and Global Analysis – by Product Type, Source, and Distribution Channel," the hair extension market size was valued at US$ 3,963.80 million in 2022 and is expected to reach US$ 5,775.09 million by 2030; it is estimated to register a CAGR of 4.8% from 2022 to 2030. The report highlights key factors driving the hair extension market growth and prominent players along with their developments in the market.
Hair extensions, mainly sourced from human hair or synthetic material, are often attached firmly to the scalp and used to add length, volume, and color to natural hair. The extensions are being sold according to the consumers' requirements for the duration they want to be required for. Hair extensions combine with hair due to their complementary color, volume, and texture. These are customizable per the customers' requirements and designed by the hairdresser or stylist. Hair extensions are being sold in retail channels such as e-commerce, company sites, retail stores, and supermarkets for personal and professional use.
Global Hair Extension Market Breakdown – by Region
Hair Extension Market Forecast to 2030 - Global Analysis by Product Type (Tape-in, Fusion and Pre-bonded, Clip-in, and Others), Source (Human Hair and Synthetic Hair), and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others)
Hair Extension Market Size Report | Forecast & Growth by 2030
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Improvement in quality of life, positive effects of personal care on self-esteem and social interaction, gradual consumer shift toward luxury and premium self-grooming products and rise in incidence of hair fall are a few factors propelling the growth of the hair extension market. Europe and North America are significant markets for the styling industry, accounting for more than 60% of the cosmetics market combined. Hair care products are gaining huge traction among consumers amid the increasing prevalence of hair thinning, dryness, volume loss, and other hair-related concerns. African consumers and people of African descent are significant consumers of hair extensions. Hence, the increasing adoption of self-grooming products among the global populace drives the global hair extension market.
Locks & Bonds, Klix Hair Inc, Easihair Pro., Balmain Hair Group BV, Great Lengths SpA, Evergreen Products Group Ltd, Socap USA Inc., Cinderellahair Inc., Barclay Wolf Ltd, and Hairlocs Inc are among the key players operating in the global hair extension market. The global hair extension market players focus on providing high-quality products to fulfill customer demand. They also focus on strategies such as investments in research and development activities, new product launches, and expanding production capacities. Key players in the hair extension market are using e-commerce platforms to meet the growing demand for hair extensions.
Impact of COVID-19 Pandemic on Hair Extension Market
Before the onset of the COVID-19 outbreak, the hair extension market was mainly driven by the rising adoption of self-grooming products. However, owing to the outbreak emergence in 2020, many industries faced unprecedented challenges. During the initial phase of the COVID-19 pandemic, the consumer goods industry reported a decline in profits due to the shutdown of manufacturing units and disruption in the supply chain. The COVID-19 pandemic disturbed the manufacturing processes of various cosmetic and beauty products, including hair extensions, owing to restrictions imposed by government authorities in various countries. Moreover, the shutdown of specialty stores and salons due to lockdowns and travel restrictions during the initial months of the COVID-19 outbreak hampered the sales of hair extensions. Furthermore, as the supermarket chains remained closed during the first quarter of 2020, the retail sales of hair extensions were reduced, which hindered the hair extension market growth.
The report includes the segmentation of the global hair extension market as follows:
The global hair extension market is segmented on the basis of product type, source, distribution channel, and geography. The hair extension market, based on product type, is segmented into tape-in, fusion and pre-bonded, clip-in, and others. Based on source, the hair extension market is bifurcated into human hair and synthetic hair. Based on distribution channel, the market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. By geography, the global hair extension market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The North American hair extension market is further segmented into the US, Canada, and Mexico. The Europe hair extension market is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The hair extension market in Asia Pacific is further segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in the Middle East & Africa is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The South & Central American hair extension market is further segmented into Brazil, Argentina, and the Rest of South & Central America.
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