Global Hair Wig Market

Hair Wig Market Size, Share, Growth Analysis, By Product Type(Human Hair, Synthetic Hair), By End Use(Men, Women, Other), By Distribution Channel(Online, Offline), By Region - Industry Forecast 2024-2031


Report ID: SQMIG25K2091 | Region: Global | Published Date: July, 2001
Pages: 270 | Tables: 88 | Figures: 76

Hair Wig Market Insights

Hair Wig Market size was valued at USD 6.13 billion in 2019 and is poised to grow from USD 6.46 billion in 2023 to USD 12.27 billion by 2031, growing at a CAGR of 8% in the forecast period (2024-2031).

The main driver of industry growth is the increasing frequency of hair-related issues, such as alopecia, over the world. Alopecia areata affects over 70,000 Americans, half of whom are women, according to a report released by the National Library of Medicine in April 2020. The public's growing concern over these ailments is contributing to the industry's expansion.

Additionally, a lack of raw materials like human and synthetic hair stemmed from supply delays caused by various restrictions enforced by regional governments to impede the virus's spread.

Shipments of raw materials and completed goods were slowed down or stopped during this time, which had a substantial influence on global product demand. The use of hair wigs by young people and millennials to enhance their physical appearance is predicted to fuel the industry's expansion. The growing impact of social media in encouraging the usage of wigs and extensions as well as celebrity endorsements are some of the other major drivers of the industry's expansion.

Additionally, the geriatric population's increasing usage of wigs to conceal the problem of alopecia is anticipated to support business growth. The population of people 60 and over was 1.4 billion in 2019, and the World Health Organization (WHO) predicts that number will quadruple to 2.1 billion by 2031. Additionally, major players are releasing specially made hair-related products that best meet consumer demand. For instance, Hi-MO LLC offers individualised items including hair wigs, hair colour, hair care, and others for each customer. Consumer usage of wigs has been prompted by the rising prevalence of androgenetic alopecia, or baldness as it is more widely called.

US Hair Wig Market  is poised to grow at a sustainable CAGR for the next forecast year.

$5,300
BUY NOW GET FREE SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Hair Wig Market size was valued at USD 6.13 billion in 2019 and is poised to grow from USD 6.46 billion in 2023 to USD 12.27 billion by 2031, growing at a CAGR of 8% in the forecast period (2024-2031).

The key players in the Hair Wig market are working on continuous innovation and research & development in order to provide hair wig as per the preferences of the consumer. For example, In 2021, Donna Bella introduced an hair extension app for Iphone users providing different options like client tracker shopping and more. 'Aderans Co., Ltd.', 'Godrej Consumer Products Limited', 'Henan Ruimei Hair Products Co. Ltd.', 'Rebecca Fashion Co., Ltd.', 'Artnature Inc.', 'Fortune Wigs Inc.', 'Hairline Illusions Inc.', 'Motown Tress', 'SNG Hairwala', 'The Hair Shop Inc.', 'Tony of Beverly', 'Vapon Inc.', 'Wigsbuy.com', 'Hairline International', 'L Hair Boutique', 'Norgil Canada', 'HairUWear Inc.', 'Qingdao Mike & Mary International Co., Ltd.', 'Xuchang UNice Hair Products Co. Ltd.', 'Zury Hollywood Wigs.'

Around 40% of males worldwide experience some degree of hair loss or thinning as a result of ageing. Hair extensions are commonly used to hide hair loss. The market for hair wigs and extensions is expected to grow as the incidence of hair loss, alopecia, casts, and other disorders rises. Hair is an important part of a person's appearance and can have a big influence on their perceived beauty and self-esteem. Many people who lose their hair will have some psychological effects. As a result, in order to fill this void many people are getting attracted towards buying hair wig and so the market for hair wig is growing.

Women accounted for 92% of all cosmetic procedures while males 8% of all cosmetic procedures. Individuals over the age of 40 are concerned with their physical appearance and want to look young. As a result, the increased emphasis on cosmetic traits especially by women, particularly in developed countries, is expected to drive Hair Wig market growth.

With a hair wig market share of over 40% in 2020, North America dominated the worldwide hair wigs market. Consumers are aiming to cut back on harsh chemicals such as peroxide serums. Human hair wigs are becoming increasingly popular due to their natural appearance. Over the forecast period, the Asia Pacific Hair Wigs Market is anticipated to develop at the quickest rate. As demand for high-quality hair products develops, manufacturers are increasingly locating manufacturing facilities in Asia-Pacific, particularly China and India. Every year, around thirty and forty million pilgrims visit the temple, and 10% to 25% of them, both men and women, shave their heads as a sign of humility and sacrifice. Temples like Tirumala holds a auction which is part of a multi-billion dollar market for human hair. Based on supply, China leads the human hair market.

Request Free Customization

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

logo-images

Feedback From Our Clients

Global Hair Wig Market

Report ID: SQMIG25K2091

$5,300
BUY NOW GET FREE SAMPLE