DUBLIN--(BUSINESS WIRE)--The "Hair Extension Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type, Source, and End User" report has been added to ResearchAndMarkets.com's offering.
The hair extension market was valued at US$ 3,561.76 million in 2020 and is projected to reach US$ 4,929.13 million by 2028; it is expected to grow at a CAGR of 4.15% from 2020 to 2028.
Hair extensions help in adding length and volume to the natural human hair. Rising demand for self-grooming products and increasing per capita disposable income propel the growth of the global hair extensions market. However, unethical practices adopted in the hair industry hinder the market growth.
Based on source, the hair extension market is bifurcated into human and synthetic. The synthetic hair segment accounted for a larger market share in 2020 and the human hair segment is expected to register a higher CAGR in the market during the forecast period. Synthetic hair is made from numerous synthetic and blended fibres and does not contain human hair. These fibres are very fine, plastic fibres that are produced to imitate natural human hair. Synthetic hair cannot be colored as most dyes contain ammonia or bleach, which may destroy synthetic hair. However, the synthetic hair extensions are cheaper than human hair extensions, which drives the demand for synthetic hair extensions.
Based on region, the hair extension market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa. In 2020, North America accounted for the largest share in the market. The demand for hair extensions is surging in North America owing to the growing awareness about celebrity fashion trends, and elevated grooming and beauty activities. Caucasian consumers usually use hair extension to create a specific fashion image. Further, rising disposable income and urbanization, changing lifestyle as well as high purchasing power of the consumers are boosting the market growth.
The size of overall global hair extension market has been derived using both primary and secondary source. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the hair extension market.
Market Dynamics
Drivers
- Rise in Adoption of Self-Grooming Products
- Increase in Disposable Income and Change in Living Standards of Middle-Class Population
Restraint
- Unethical Practices in Hair Industry
Opportunities
- Growing Utilization of Hair Extension in Entertainment and Fashion Industry
Future Trends
- Increased Demand with Social Media as Enabler
Companies Mentioned
- GREAT LENGTHS UNIVERSAL HAIR EXTENSIONS S.p.A.
- Balmain Paris Hair Couture
- easihair pro
- Klix Hair Extensions
- Locks & Bonds
- Anhui Jinruixiang Hair Products Co., Ltd.
- Evergreen Products Group Limited
- SO.CAP.USA
- Cinderella Hair Extension
- Barclaywolf Hair Extensions
For more information about this report visit https://www.researchandmarkets.com/r/gs8s0n
