The global human hair extension market was valued at USD 4.45 billion in 2023 and is projected to be worth USD 4.88 billion in 2024 and reach USD 10.78 billion by 2032, exhibiting a CAGR of 10.41% during the forecast period.
The versatility of human hair extensions allows for dyeing to achieve richer hues, washing, and styling with hot tools like straighteners or curling irons. They can be treated just like one’s natural hair, offering seamless integration. In contrast, synthetic hair extensions often lack durability, being prone to sun damage and difficult styling. Human hair counterparts boast longevity with proper care, lasting up to a year or more. Surveys indicate a strong consumer preference for natural hair due to the challenges associated with synthetic options, particularly regarding heat styling. With a global surge in demand for natural hair, major market players are focusing on introducing new products, driving the growth of the human hair extension market. Fortune Business Insights highlights these trends in their report titled “Global Human Hair Extension Market, 2024–2032.”
Information Source: https://www.fortunebusinessinsights.com/human-hair-extension-market-106648
List of Key Players Profiled in the Human Hair Extention Market Report
- Great Lengths (Italy)
- Balmain Hair Couture (France)
- Hairdreams Haarhandels GmbH (Austria)
- easihair pro (U.S.)
- Euro So. Cap. Srl. (Italy)
- Beauty Industry Group, Inc. (U.S.)
- Cinderella Hair Extension (U.S.)
- Hairlocs (U.S.)
- Klix Hair, Inc. (U.S.)
- UltraTress (U.S.)
- Racoon International (U.K.)
- Hair Addictionz (U.S.)
- FN Longlocks (U.S.)
- Viva Femina, Inc. (U.S.)
- Femme Extensions (U.S.)
Segments:
Demand for Clip-in Hair Extensions will Increase due to Consumers’ Growing Preference for Inexpensive Items
The market is segmented based on type into clip-in hair extension, fusion & pre-bonded hair extension, tape-in hair extension, and others.
One of the most popular product categories internationally is clip-in hair extensions. Unlike the majority of other product types, clip-in hair extensions are hassle-free to remove and reapply as needed by the user. Users favor these extensions more because of how easy they are to install. On the user’s scalp, tape-in hair extensions typically feel lighter than clip-in alternatives. Therefore, this product category is anticipated to witness more customer attention in the years to come.
Greater Focus on Marketing to Women Consumers to Promote Product Innovation
Based on application, female and male constitute the market segmentation.
In 2022, the female segment became the largest and is anticipated to expand significantly over the projected period. Despite the fact that men are more likely than women to experience hair loss problems, hair extensions have not yet gained widespread acceptance among men around the world. This is largely due to the fact that majority of hair extension brands have traditionally targeted female consumers when marketing their products. In the coming years, the multibillion-dollar Hollywood sector will present rich chances for hair extension brands to target the male market.
Changing E-Commerce Platform to Promote the Entry of New Companies into the Internet Market
The market is segmented into online and offline based on sales channel.
In recent years, business owners in the industry have built new websites to improve their online presence. For instance, the U.S.-based hair extension supplier SL Raw Virgin Hair introduced its first e-commerce app for iOS and Android devices in July 2021. The business gave customers nationwide access to buy its products through the new app.
Report Coverage:
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.Â
- Comprehensive insights into the regional developments.Â
- List of major industry players.Â
- Key strategies adopted by the market players.Â
- Latest industry developments include product launches, partnerships, mergers, and acquisitions.
Drivers & Restraints:
Growing Hair Disorder Prevalence and Increasingly Aging Population to Drive Product Demand
Male Pattern Baldness (MPB), which affects about 25% of men with hereditary male pattern baldness before age 21, is a significant hair-related concern worldwide, according to the American Hair Loss Association (AHLA). According to the AHLA, 66% of men will have some degree of hair loss by the time they turn 35 and will have thinning hair before they turn 50. The percentage of people 65 and older is expected to rise from 15% in 2016 to nearly 25% by 2060, according to a report from the U.S. Census Bureau that was published in 2017 and amended in 2020. In the U.S., as in the global hair extensions market, a growing aging population also draws attention to the increased prevalence of hair problems, which will surge the product demand in the years to come.
On the contrary, hair extensions should only be used on special occasions, according to the American Academy of Dermatology (AAD), as they can tug on the wearer’s hair and result in long-term hair loss. Such suggestions may influence how optimistic buyers are about buying hair extensions and impede the human hair extension market growth.
Regional Insights
North America Leads the Market by Building a Strong Brand Presence
In 2022, North America had the largest market. In order to build stronger brand recognition, American hair extension firms often only collaborate with well-known salons. For instance, the California-based Perfect Locks LLC, a U.S. hair extension manufacturer, only provides distribution options for reputable companies and salons. Additionally, the business demands that distributors continue to use the Perfect Locks name.
Competitive Landscape
Chief Strategies Driving Market Growth are International Expansion and Partnerships with Well-known Hairstylists
Key businesses are able to handle new market trends and acquire a competitive edge to reach new markets as they place a high priority on collaboration and partnership with hairstylists and industry experts. Throughout the projected period, product differentiation will be a major element influencing market dynamics and product sales.
Key Industry Development:
- December 2023:Â CASHMERE HAIR, a U.S.-based luxury hair extension company, launched Fill-In Hair Extensions, its latest innovation. The company intended to provide a temporary hair volume boost to individuals experiencing hair-thinning issues.
