The global Hair Wigs and Extensions Market size is projected to reach a CAGR of 8.7% from 2023-2030.
Artificial hair integrations include hair wigs, hair extensions, and hair weaves. Hair wigs are available in the form of a cap and are used to cover the entire head to change the hairstyle and conceal baldness. Hair loss can result in complete or partial baldness as a result of various medical disorders and hormones, leaving people self-conscious about their appearance. As a result, the demand for hair implants has risen dramatically. Animal hair, human hair, synthetic fiber, Futura, virgin hair, or a combination of these materials are used to make hair alterations. Jute fibers were used to make imitating hair for theatrical wigs in the early 1990s, but as trends changed, the raw material varieties also expanded: animal hair, human hair, synthetic fiber, Futura, virgin hair, or a blend of these materials.
Technological advancements in the production and design of synthetic hair wigs are one of the primary drivers driving growth in the hair wigs and extension market. Another key element driving the growth of the hair wigs and extension industry is the increasing importance of celebrities and social media influencers. The expanding popularity of digital media as a significant communication and marketing channel for vendors in the global hair wigs and extension industry has been aided by the rapid global adoption of Internet-enabled smartphones. Hair extensions are mostly used to conceal hair breakage. As a result of the increased occurrence of hair loss, alopecia, casts, and other conditions, the market for hair wigs and extensions is predicted to grow.
On the other hand, the increased competition and the stiffness of the product are further projected to impede the growth of the hair wigs and extension market in the targeted period. However, the availability of raw materials and the growing use and maintenance of hair extensions might further challenge the growth of the hair wigs and extension market shortly.
The pandemic of COVID-19 has had a huge impact on the hair wigs and extension market. The hair wigs and extension sector has been harmed by the COVID-19 pandemic's lockdown scenario. Sales and revenue were all down, as were raw materials, distribution routes, and export and import. The hair integration industry had a very limited supply of raw materials. Retail outlets and distribution channels had been shut down. However, in the post-COVID scenario, the hair wigs and extension market is further projected to be significantly impacted.
The growth of the global hair wigs and extension industry is the growing influence of celebrities and social media influencers. As digital media has become an increasingly important communication and marketing channel for vendors in the industry, the rapid adoption of Internet-enabled smartphones across the globe has further aided its expansion. However, the hair wigs and extension market is projected to face challenges in the targeted period due to increased competition and stiffness of the products, which could impede the market's growth.
North America to Dominate the Market
