Pune, India, June 21, 2022 (GLOBE NEWSWIRE) — Global hair extensions market size reached $2.35 billion in 2020. Market valuation is expected to rise from $2.38 billion in 2021 at 3.43 billion USD in 2028 at CAGR of 5.3% over 2021-2028. The increased use of high-end and sophisticated care products by people for various occasions to suit their looks is expected to boost the growth of the global hair extensions market. This information is presented by Fortune Business Insights™ in its report titled “Hair Extensions Market, 2021-2028″.
Impact of COVID-19:
Lockdowns and unavailability of raw materials affected market demand
The global COVID-19 pandemic has impacted a variety of businesses due to shutdowns and other restrictions. As a result, major companies across all industries, including the fashion and beauty landscape, have struggled to strike business deals and meet distribution partners. In addition, the lack of raw materials and the closure of spas and salons would have a negative impact on the use of products. Our research studies will help you determine the best plan to take your business to the next level.
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hair extensions market Report Scope and Segmentation:
| Report attribute | Details |
| Market size value in 2020 | USD 2.35 billion |
| Revenue forecast in 2028 | USD 3.43 billion |
| Rate of growth | CAGR of almost 5.3% 2021-2028 |
| Year of reference | 2020 |
| Historical years | 2017 – 2019 |
| Forecast years | 2021 – 2028 |
| Segments Covered | By type, by end user, by region |
| Forecast units | Value (USD billion) and volume (units) |
| Quantitative units | Revenue in USD Million/Billion and CAGR from 2021 to 2028 |
| Regions covered | North America, Europe, Asia-Pacific, Latin America, Middle East and Africa, and Rest of the World |
| Countries covered | United States, Canada, Mexico, United Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC countries and South Africa, among others |
| Number of companies covered | Great Lengths Universal Hair Extensions Srl (Italy), Balmain Hair Group BV (Netherlands), Hair Visions International (USA), Esqido (Canada), CAP. Original USA (USA), Cinderella Hair (UK), Racoon International (UK), Evergreen Products Group Limited (Hong Kong), Easihair Pro USA (USA), Hairlocs (USA) |
| Report cover | Market Growth Drivers, Restraints, Opportunities, Porter’s Five Forces Analysis, PEST Analysis, Value Chain Analysis, Regulatory Landscape, Market Attractiveness Analysis by Segments & Region, Market Share Analysis business and analysis of the impact of COVID-19. |
| Scope of customization | Take advantage of personalized purchasing options to meet your exact research needs. |
Fortune Business Insights™ lists all companies in the hair extension market currently working to reduce the impact of the Covid-19 pandemic on the market:
- Great Lengths Universal Hair Extensions Srl (Italy)
- Balmain Hair Group BV (Netherlands)
- Hair Visions International (USA)
- Esquido (Canada)
- CAP. United States of origin (United States)
- Cinderella Hair (UK)
- Racoon International (UK)
- Evergreen Products Group Limited (Hong Kong)
- Easihair Pro United States (United States)
- Hairlocs (USA)
Drivers and constraints:
Growing occurrence of alopecia areata to augment market growth
The use of hair extensions is increasing to conceal hair loss. The growth of the hair extensions market will be influenced by the increasing frequency of baldness in the world. The National Alopecia Areata Foundation reports that approximately 6.8 million people suffered from alopecia in 2020 in the United States. However, these products frequently cause hair breakage and headaches, which might hamper the market growth slightly.
Regional outlook:
North America will dominate thanks to the growing number of hair salons
The hair extensions market share in North America reached USD 0.83 billion in 2020. The regional growth is influenced by the presence of major beauty salons in the United States and Canada. According to the Small Business Development Center Organization, there were approximately 77,000 beauty salons and 4,500 barbershops. in the United States from May 2020.
Asia-Pacific will see robust growth driven by the growing female labor force, leading to increased spending on skincare products, including hair extensions.
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segments:
By Type, Human Hair Extensions segment is expected to flourish from 2021 to 2028
Based on type, the market share is trifurcated into human hair extension, synthetic hair extension, and animal hair extension. Among these, the human hair extensions segment is expected to dominate the hair extensions market share owing to its ability to blend naturally with the hair of the customer. Meanwhile, the segment of synthetic hair extensions will witness high demand as it is resistant to rainy conditions and humidity.
By end user, male segment to drive monumental demand through 2029
Based on the end user, the market share is split into male and female. The female segment is expected to dominate the global market due to the increasing availability of products for female users. However, the male segment is expected to generate monumental traction over the forecast period, owing to the increasing occurrence of male pattern baldness among men.
Competitive landscape
Key Players Focus on Partnerships to Gain Competitive Advantage
Major players in the market are making collaborative efforts by teaming up with other companies to stay ahead of the competition. Many companies also invest in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.
Browse Detailed Abstract of Research Report with TOC:
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Detailed Table of Contents:
- Introduction
- Search scope
- Market segmentation
- Research Methodology
- Definitions and assumptions
- Summary
- Market dynamics
- Market factors
- Market constraints
- Market opportunities
- Emerging trends
- key ideas
- Overview of parent/related markets
- Industry SWOT Analysis
- Supply chain and regulatory analysis
- Recent Industry Developments – Policies, Partnerships, New Product Launches and Mergers & Acquisitions
- Market analysis and overview (in relation to COVID-19)
- Impact of COVID-19 on the market
- Supply chain challenges due to the pandemic
- Potential opportunities to support the market during the global crisis
- Global Hair Extensions Market Analysis, Outlook and Forecast, 2017-2028
- Main results/summary
- Market size estimates and forecasts
- By type (value)
- Synthetic Hair Extension
- human hair extension
- Pet Hair Extension
- Per end user (value)
- By region (value)
- North America
- Europe
- Asia Pacific
- South America
- Middle East and Africa
- By type (value)
Industry key development:
March 2019 – The Westrow Group has teamed up with Great Lengths, which is owned by GREAT LENGTHS UNIVERSAL HAIR EXTENSIONS SpA, a group of hair salons based in Yorkshire. The deal has helped Westrow expand its business in England, UK
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