Pune, India, May 16, 2022 (GLOBE NEWSWIRE) — The global human hair extension market size was valued at USD 3.71 billion in 2021 and touched USD 4.06 billion in 2022. The market is expected to reach USD 7.63 billion by 2029, exhibiting a CAGR of 9.44% during the forecast period. Growing demand for Vietnamese hair in North American markets and changing consumer buying preferences are expected to accelerate the growth of the market. Fortune Business Insight™ provides this information in its report entitled “Human Hair Extensions Market, 2022-2029.”
Decline in product demand is hampering industry progress
This market is expected to be negatively affected during the COVID-19 pandemic due to declining demand for the product. The alarming spike in COVID-19 patients has led to the imposition of strict restrictions on COVID-19, hampering manufacturing activities. This factor has created supply chain disruptions. Additionally, travel restrictions have resulted in reduced product sales. However, the resumption of confinement has facilitated tourism and travel, thus increasing the demand for human hair extension. This factor can improve the progress of the market during the pandemic.
Get a sample PDF brochure:
Fortune Business Insights™ lists all companies in the human hair extension market currently working to lessen the impact of the Covid-19 pandemic on the market:
- LONG LENGTHS (Italy)
- Balmain Hair Couture (France)
- Hairdreams Haarhandels GmbH (Austria)
- easihair pro (USA)
- So euros. Cap Srl (Italy)
- Beauty Industry Group Inc. (USA)
- Cinderella hair extension (USA)
- Hairlocs (USA)
- KLIX HAIR, INC. (United States)
- UltraTress (USA)
- Racoon International (UK)
- Hair Addictionz (USA)
- N. LONGLOCKS (USA)
- Viva Femina, Inc. (USA)
- Female Extensions (US)
human hair extension market Report Scope and Segmentation:
|Forecast Period 2022 to 2029 CAGR||9.44%|
|2029 value projection||$7.63 billion|
|Year of reference||2021|
|Market size in 2021||$3.71 billion|
|Historical data for||2018 to 2020|
|Number of pages||156|
|Segments Covered||By application, by sales channel, by region, by type|
|Growth engines||Increase in the prevalence of hair disorders to enhance market progress|
|Growing Business-to-Business Partnerships to Accelerate Growth in North America|
|Companies are opening stores in new territories to expand their customer base|
|Pitfalls and Challenges||Growing demand for substitute products/paired procedures to limit product demand|
The report provides a detailed analysis of major segments and latest market trends. It discusses in detail the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines regional developments and strategies undertaken by leading market players
Increased female audience to accelerate female segment growth
Based on application, the market is divided into women and men.
The female segment is expected to grow rapidly owing to the increasing demand for the product from the female population. Manufacturers target the female population because of their willingness to invest in beauty products.
Online channel segment will dominate due to rapid digitization and shopping convenience
Based on the sales channel, the market is categorized into offline channel and online channel.
The online channel segment is expected to grow exponentially owing to the increasing adoption of online services. The growing adoption of smartphones and the convenience offered by online shopping is expected to improve product adoption.
Regionally, the market is studied across North America, Europe, Asia-Pacific, South America, Middle East & Africa.
Increase in the prevalence of hair disorders to enhance market progress
Human hair extensions are made from human hair due to their longer lifespan and can be styled with a hair dryer. The increasing prevalence of hair disorders is expected to increase its demand. For example, according to the American Hair Loss Association (AHLA), male pattern baldness is a major health problem that affects almost 25% of men worldwide. The AHLA also mentions that nearly 66% of men experience hair loss by age 35 and thinning hair before age 50. Also, the increasing aging population in the world is expected to drive the adoption of human hair extensions. Moreover, the adoption of Remy hair can increase consumer demand as it is considered the highest quality extension in the world. These factors can stimulate the growth of the human hair extensions market.
However, the high demand for alternative products and processes is expected to restrain the progress of the market.
Clip-in hair extensions segment will dominate due to high demand for affordable products
By Type, the market is segmented into clip-in hair extensions, fused and pre-bonded hair extensions, tape-in hair extensions, and others.
The clip-in hair extensions segment is expected to dominate the market owing to growing consumer demand for affordable products. It provides users with hassle-free removal and installation, thus reinforcing its preference.
Browse Detailed Abstract of Research Report with TOC:
Growing Business-to-Business Partnerships to Accelerate Growth in North America
North America is expected to dominate the human hair extension market share owing to the increase in corporate partnerships. For example, Perfect Locks LLC, a California-based hair extension company, offers distribution opportunities to salons/businesses. The North America market was worth USD 1.72 billion in 2021 and is expected to grow rapidly in the coming years.
In Asia-Pacific, the presence of major natural hair suppliers is expected to increase the demand for human hair extensions. This factor could propel the progress of the market in the coming years.
Companies are opening stores in new territories to expand their customer base
Leading companies operating in the market have opened stores in different countries to expand their customer base. For example, Mayvenn Inc. moved its stores to new territories to expand its consumer base in June 2021. The company is backed by several investors such as Jimmy Iovine, Andre Iguodala, Serena Williams, Trinity Ventures, Cross Culture Ventures and Andreessen Horowitz. . This strategy could allow Mayvenn Inc. to expand its customer base globally. Also, companies are investing heavily in acquisitions, mergers, research and development, new product launches, and expansions to strengthen their market position.
Find out before you buy this research report:
Detailed Table of Contents:
- Search scope
- Market segmentation
- Research Methodology
- Definitions and assumptions
- Market dynamics
- Market factors
- Market constraints
- Market opportunities
- key ideas
- Parent market overview
- Industry SWOT Analysis
- Supply chain and regulatory landscape
- Recent Industry Developments – Mergers & Acquisitions, Product
- Launches, expansions
- 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
- Global Human Hair Extensions Market Analysis, Outlook and Forecast, 2018 – 2029
- Main results/summary
- Market size estimates and forecasts
- By type
- clip in hair extension
- Fusion and extension of pre-bonded hair
- Hair extension with tape
- By app
- By sales channel
- offline channel
- offline channel
- By region
- North America
- Asia Pacific
- South America
- Middle East and Africa
- By type
Development of key industry
- October 2021: A Canadian manufacturer named Luxy Hair has announced an artificial intelligence color matching tool to simplify and personalize the hair extension process.
Take a look at related research information:
Hair Care Market Size, Share and Impact Analysis of COVID-19 and Regional Forecast, 2021-2028
Hairdressing Tools Market Size, Share, Trend and Geographic Forecast to 2020-2027
US Hair Extensions Market Size, Share and Impact Analysis of COVID-19 and Regional Forecast, 2021-2028
Fortune Business Insight™ provides accurate data and innovative business analysis, helping organizations of all sizes make the right decisions. We tailor innovative solutions to our clients, helping them address a variety of challenges unique to their businesses. Our goal is to give them holistic market intelligence, providing them with granular insight into the market they operate in.
Fortune Business Insights Pvt. Ltd.9th Floor, Icon Tower, Baner –
Mahalunge Street, Baner, Pune-411045,
USA: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: [email protected]