Hair Extensions Market to Surpass US$4.99 Billion by 2032 Driven by Growing Product Availability
North America is likely to be one of the major markets for hair extensions. Due to increasing disposable income and urbanization in the region, Latin America is expected to see new growth prospects in the hair extensions market
DUBAI, United Arab Emirates, July 24 2022 (GLOBE NEWSWIRE) — According to a latest IMF report, the global hair extensions market was valued at US$2.38 billion in 2021. The market is expected to reach a value of US$2.38 billion. 4.99 billion by 2032, showing a modest CAGR of 5.3% for the forecast period 2022-2032. The rapid changes in lifestyle coupled with increasing availability of products are likely to drive the market over the forecast period.
Rapid changes in lifestyles, a preference for longer and denser hair, and an increase in product availability are contributing to the growing demand for hair extensions. The existence of side effects in hair transplant procedures and with hair restoration drugs is further propelling the hair extensions market. The hair extensions market is also driven by an increase in consumer spending on appearance and personality enhancing products. Rising popularity of grooming products and high expenditure for them will explain the growth of the market over the assessment period.
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Rising disposable incomes in emerging economies like Brazil, India, and Argentina, among others, are likely to drive the sales of hair extensions over the forecast period. Additionally, marketing and promotion strategies focused or based on consumer buying trends are expected to impact the global hair extensions market.
“Increased product availability along with side effects associated with hair transplant procedures will increase the sales of hair extensions in the market over the forecast period,” an IMF analyst says.
Key points to remember:
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The release of new hair extension products with multiple functions is expected to supplement the market growth over the forecast period.
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The increase in grooming expenditure will explain the expansion of the market.
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North America presents substantial growth potential in the market.
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The rise of e-commerce is propelling the Asia-Pacific market to growth.
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The European hair extensions market will witness significant growth due to changing consumer behavior.
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Rising disposable incomes in countries like India, China, Brazil, and Argentina will influence the market positively over the forecast period.
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Competitive landscape
BELLAMI Hair, Godrej, Great Lengths, Klix Hair Extension, Evergreen Products Group Limited, Great Lengths, Balmain Paris Hair Couture, Qingdao Organic Hair Ltd. Beauty Industry Group, Hair Dreams, Hidden Crown, Hair Addictionz, Femme Hair Extension, Hairlocs, Easihair, Socap, and Cinderella Hair among others are some of the key organizations operating in the hair extensions market which are profiled in the comprehensive version of the report.
Major players in the hair extensions market are using tactics such as mergers and acquisitions to achieve market expansion. They invest in research and development to improve their product portfolios and gain a competitive advantage.
More information about the Hair Extensions market report
In its latest report, FMI offers an unbiased analysis of the global hair extensions market, providing historic data from 2017 to 2021 and forecast statistics from the period 2022 to 2032. To understand the potential, growth, and scope of the global market , the market is segmented. depending on the type of assembly, the type of sale, the sales channel and the region.
Hair Extensions Market Regional Analysis
According to the latest IMF report, North America is expected to dominate the global hair extensions market. This is possible due to the presence of a large number of hair extension manufacturers and organizations. Rising disposable incomes and accelerating urbanization in Latin America will boost the market outlook in this region for the forecast period.
The rise of e-commerce is likely to propel the hair extensions market in the Asia-Pacific region. An increase in disposable incomes in emerging economies like India and China will help drive the market growth. Additionally, regions like the Middle East and Africa will register an increase in the market owing to the increase in consumer spending on grooming products.
Rapid changes in consumer behavior will have a positive impact on the European hair extensions market.
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Contents
1. Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply-side trends
1.4. Analysis of the technology roadmap
1.5. Analysis and recommendations
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limits
3. Market Context
3.1. Market dynamics
3.1.1. Drivers
3.1.2. Constraints
3.1.3. Opportunity
3.1.4. Tendencies
3.2. Scenario forecast
3.2.1. Demand in the optimistic scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in the conservative scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s analysis
3.6. Regulatory landscape
3.6.1. By key regions
3.6.2. By key countries
Read more Table of contents
About IMF – Consumer Products
FMI’s Consumer Products Unit offers distinct and accurate analysis of the global consumer products industry. This comprehensive research ranges from material type, category type, product types, consumer goods retail and distribution to supply, demand and trade assessment, and relevant advances in the industry. Our research studies serve as benchmark market guidelines for consumer product manufacturers, channel partners and government development agencies – “The Way Forward”.
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