The Hair Extension Market is thriving, driven by increasing demand for versatile hairstyles. Growing fashion consciousness and evolving beauty standards contribute to a robust industry, with a diverse range of products catering to various preferences
In 2023, the hair extension market is projected to be worth US$ 2,721.8 million. The valuation was US$2,573.9 million in US dollars in 2022. Market growth is anticipated to reach 6.3% CAGR between 2023 and 2033. It is anticipated that the hair extension market will be worth US$ 5,000.2 million by the end of the forecast period.
For some consumers, hair loss problems are a biological inevitability. Problems like receding hairlines, alopecia, and other reasons for hair loss are forcing consumers to seek solutions. Hair extensions are emerging as one of the most popular solutions. Compared to hair restoration drugs and hair transplant surgery, hair extensions are seen as a better alternative with fewer side effects and less cost than surgery.
Hair extensions are also becoming popular as a fashion trend. The increasing variety of hair extensions plays a crucial role in expanding product use. Wavy, curly, smooth, silky, and more types of hair extensions help increase the diversity of the product. Hair extensions coming in different colors are positively impacting the market, too.
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Consumers in the market are seeking authenticity. Therefore, Remy hair extensions are proving to be a hit. To further aid authenticity, producers are sourcing hair from Vietnam and India. The phenomenon of importing hair from Asia countries is particularly evident in the North American market. Hair extensions are increasingly appearing natural-looking.
“The fashion industry has a key role in the hair extension market. Companies seek celebrity endorsements to influence the younger crowd. Various fashion trends in hair are also achievable through hair extensions. Companies in the hair extension market have the opportunity to expand their reach of the products through collaborations with fashion influencers,” Analysts at Future Market Insights (FMI).
Key Takeaways from the Hair Extension Market:
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Competition Analysis of the Hair Extension Market
Collaborations and partnerships with beauty experts and influencers are common strategies adopted by suppliers of hair extensions. There is scope for both big brands and small-scale players in the market
Key Companies in the Hair Extension Market:
Recent Developments in the Hair Extension Market
Key Segments in the Hair Extension Market
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market.
Feb 02, 2024