The scope of our recent study on the “Hair Extensions Market Forecast t2028 – COVID-19 Impact and Global Analysis – by Product Type (Tape-in, Fusion and Pre-Bonded, Clip-in, and Others), Source (Human Hair and Synthetic), and End User (Men and Women),” includes the analysis of factors driving the market growth, estimation and forecast of revenues, market share analysis, and identification of significant market players and their key developments.
The hair extensions market was valued at US$ 3,561.76 million in 2020 and is projected treach US$ 4,929.13 million by 2028; it is expected tgrow at a CAGR of 4.1% from 2021 t2028. Hair extensions are used tadd volume, increase length, or enhance the visual appearance of natural hair. Rising disposable income and increasing need tenhance physical appearance among consumers propel the demand for self-grooming products such as hair extensions. With the increase in per capita disposable income among the middle-class population, their shopping behavior and living standards are changing rapidly. The fashion and entertainment industry has become vital for hair extension products both in terms of revenue and adoption.
Based on product type, the global hair extensions market is segmented inttape-in, fusion and pre-bonded, clip-in, and others. In 2020, the clip-in segment accounted for the largest market share. Clip-in hair extensions usually take 5 t15 minutes tapply at home. These extensions dnot require any chemicals, pressure, heat, or other installation methods; therefore, there are the least chances for damaging natural hair. Hence, the easy application of clip-in hair extensions coupled with less damage tthe natural hair bolsters its demand. Based on source, the hair extensions market is bifurcated inthuman and synthetic. The synthetic segment dominated the market in 2020 and is expected tmaintain its dominance during the forecast period. However, the market for the human segment is expected twitness a higher growth rate in the coming years as they can be treated like natural hair and can be straightened and curled. The human hair extensions can alsbe blown dried and colored, as well as different hair products can be applied on them. On the basis of end user, the global hair extensions market is bifurcated intmen and women. The women segment dominated the market in 2020. However, the men segment is expected tregister a higher CAGR during 2021–2028. The female population is the major consumer of hair extensions owing tthe factors such as the availability of various styles, colors, and types of hair extensions. Besides, the growing willingness tspend on high-quality hair extensions for enhanced appearance and rising hair loss issues drive the demand for hair extensions among women.
The hair extensions market is segmented intfive main regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). In 2020, North America accounted for the largest share in the market. The demand for hair extensions is surging in North America owing tthe growing awareness about celebrity fashion trends, and elevated grooming and beauty activities. Further, rising disposable income and urbanization, changing lifestyle as well as high purchasing power of the consumers are boosting the market growth.
Impact of COVID-19 Pandemic on Hair Extensions Market
The COVID-19 outbreak is adversely affecting economies and industries in various countries due tlockdowns, travel bans, and business shutdowns. The global consumer goods industry is one of the significant industries suffering severe disruptions such as supply chain breaks, technology event cancellations, and office shutdowns. Several companies have already announced possible delays in product deliveries and slump in future sales of their products. Besides, the global travel bans imposed by countries in Europe, Asia, and North America are hindering business collaborations and partnership opportunities. All these factors are adversely affecting the consumer goods industry, which is restraining the growth of the hair extensions market.
The report includes the segmentation of the global hair extensions market as follows:
Hair Extensions Market, by Product Type
- Tape-in
- Fusion and Pre-Bonded
- Clip-in
- Others
Hair Extensions Market, by Source
Hair Extensions Market, by End User
Hair Extensions Market, by Geography
- North America
- Europe
- Germany
- France
- UK
- Italy
- Russia
- Rest of Europe
- Asia Pacific (APAC)
- Australia
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Rest of Middle East & Africa
- South America
- Brazil
- Argentina
- Rest of South America
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