Hair Wig Market: Key Players and Production Information analysis with Forecast 2029

Hair Wigs Market Witnessing Boom on the Back of Growing Grooming Industry

The recent past has witnessed a significant transformation in grooming industry which has been backed by increased per capita expenditure on fashion accessories. In the past half-decade, the market for hair wigs is seen to grow at a faster rate as compared to other grooming products. While demand for hair wigs has been observed to follow a steady path in the developed clusters, the developing economies are projected to lay a fertile ground for the industry growth.

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Emerging Regions Presents Fertile Ground for Hair Wigs Market Growth 

Across the globe, steady developments in grooming sector is seen and the fast-paced lifestyle of the global population has compelled people to take easy and convenient options as far as routine personal grooming is concerned. Africa is the second-largest destination for Chinese wigs, making up 37% of the overall market, just behind the US’s market share of 39%. As per the US International trade commission, China, Indonesia and India are significant exporters of hair wigs while the hair wig and extension market is forecasted to grow at a faster pace than other hair care products in industry owing to early hair loss and the recent rise in trend of hair experiments in the fashion industry.

Hair Wigs Market Growing Amidst Availability of Potential Substitutes

There exists alternatives to hair wigs including surgical and non-surgical transplants, which is a permanent solution to cure hair loss though they are not guaranteed. Moreover, surgical method is more expensive and is limited to the donor’s hair availability, and results differ from case to case. When compared to these alternatives, demand for hair wigs have garnered higher revenues in the recent past because of its easy application and less expensive.

Demand for human hair extension is raising owing to its quality among Europeans and Americans, but the segment is likely to witness a lower growth as compared to wigs. According to a leading wig supplier of China, Chinese hair extensions are highly popular in the international market owing to its strand quality, though hair for them are not easy to obtain locally.

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To serve hair wig and extension demand, significant players like Rebecca, SNG, Hengyuan, Ruimei, Lord hair, Revlon, Raquel Welch, Paula young have introduced human hair wigs, which are also called as virgin hair, as they are not treated with chemicals and are untouched, sourced directly from the human head. Hair wigs are a category of grooming products, where the demand for former has been observed to grow at a faster pace as compared to the latter.

Hair wigs serves various applications in the end use industries and has retained the space in the retail shelves in various types. The global hair wig market can be segmented on the basis of type, material, end use, consumer orientation, sales channel and geography. Based on type, the hair wig market can be segmented into hair extension and full head hair wigs. On the basis of material, the hair wig market can be segmented into synthetic, natural hair. In terms of end use, global hair wig market can be broadly segmented into commercial users and individual users. Commercial users of hair wig can be further segmented into the fashion and entertainment industry, hair care and grooming industry and others. The demand for hair wig is significantly higher as compared to the individual users.

Developing Regions Likely to Experience High Growth in the Hair wig Market

Worldwide increase in disposal income and urge to improve the physical appearance is boosting the demand for personal grooming products, including hair wigs and extensions. Consumer expenditure on hair wigs in countries like China and India has grown multifold in the recent past. Online presence of key players like Rebecca, SNG, Artnature, Aderans, and Ruimei are growing their global footprint.

Asia-Pacific and North America regions dominate the styling industry, accounting for more than 60% of the cosmetics market combined. African descent population are familiar with artificial hair braiding due to their low hair growth patterns. Medical patients are another potential consumer base for hair wigs who undergo chemotherapy wherein an ample of hair loss is followed by treatment like in cancer and other immune disorders such as alopecia, mostly found in African countries.

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