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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.', '', '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.

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Global Hair Wig Market

Product ID: SQMIG25K2091