Hair Extensions Global Market Report 2024

Hair extensions are artificial hair products crafted from genuine or synthetic hair and integrated into one's natural hair to enhance length and volume. These extensions serve various purposes, including covering thinning or balding hair and introducing new colors to alter the overall appearance for both short and extended periods.

The primary categories of hair extensions include synthetic hair extensions, human hair extensions, and animal hair extensions. Synthetic hair extensions are fabricated from man-made fibers such as acrylic, nylon, or polyester, designed to mimic the look and feel of human hair. Different fitting methods include clip-in, micro-link, tape-in, and glue-in, with distribution channels encompassing retail stores, supermarkets, and e-commerce platforms. The end users of hair extensions can be both professionals and individuals seeking personal use.

The hair extensions market research report is one of a series of new reports from The Business Research Company that provides hair extensions market statistics, including hair extensions industry global market size, regional shares, competitors with a hair extensions market share, detailed hair extensions market segments, market trends and opportunities, and any further data you may need to thrive in the hair extensions industry. This hair extensions market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The hair extensions market size has grown strongly in recent years. It will grow from $3.62 billion in 2023 to $3.9 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The historical growth in the hair extension industry can be attributed to evolving fashion and beauty trends, influential celebrity endorsements, cultural diversity impacting style preferences, increased demand for extensions during weddings and special events, as well as the growing popularity of hair extensions in creative expressions such as cosplay.

The hair extensions market size is expected to see strong growth in the next few years. It will grow to $5.06 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The forecasted growth in the hair extension industry can be attributed to an increasing awareness of beauty and grooming, the significant influence of social media and influencers shaping trends, ongoing innovation in hair extension styles, a growing acceptance of extensions in professional settings, and the expanding wedding and event industry. Major trends expected in the forecast period include a focus on seamless and undetectable installations, emphasis on education and training programs, a commitment to diversity and inclusivity in product offerings, the integration of virtual try-on technologies, and the continued dominance of e-commerce with a rise in direct-to-consumer sales.

The anticipated growth in the hair extensions market is fueled by the increasing prevalence of hair-related concerns affecting hair health and appearance. These concerns encompass a wide array of issues such as hair loss, stress-induced shedding, scalp conditions, oiliness, split ends, breakage, thinning, and damage from chemical treatments or heat exposure. Hair extensions serve as a swift and diverse solution to achieve desired hair aesthetics, meeting both fashion accessory trends and personal preferences. Research conducted by Medihair GmbH in July 2023 highlighted that over 85% of men and 33% of women globally experience hair loss, with an estimated 35 million men and 21 million women affected by hair loss in 2023. Additionally, data from the UK's National Health Service (NHS) in February 2021 indicated an anticipated occurrence of female-pattern baldness in approximately 40% of women aged 70 or older, while 8 million women in the UK experience hair loss by age 50. Consequently, the rising prevalence of hair-related issues is anticipated to be a significant driver propelling the growth of the hair extensions market.

The escalating growth of the hair extensions market is anticipated to be propelled by an increasing emphasis on beauty concerns. This trend has instigated a surge in demand for hair extensions, providing an immediate solution to enhance hair length, volume, and style. These extensions have gained popularity by allowing individuals to experiment with diverse hairstyles without committing to permanent alterations. Moreover, they play a crucial role in boosting self-esteem, especially for individuals coping with hair loss or thinning hair. For instance, a survey conducted by Nutraceuticals World in September 2021 revealed that 48% of U.S. consumers acknowledged an increased emphasis on their physical appearance, while only 21% indicated a reduced concern. This shift towards heightened beauty consciousness is poised to be a pivotal driver in propelling the growth of the hair extensions market.

The potential growth of the hair extensions market faces adversity due to the high cost associated with these products, posing a significant challenge for consumers. The elevated price tag on hair extensions presents a hurdle, necessitating considerable financial resources from consumers interested in these products. This high cost primarily arises from the use of premium materials, particularly human hair, which carries a higher price compared to synthetic alternatives. As highlighted by Sitting Pretty in May 2023, the average price for good-quality non-permanent hair extensions, such as halos or clip-ins, falls within the range of $200 to $500, while professional permanent extensions typically range from $600 to $3000. Consequently, the substantial expense linked with hair extensions has impeded the accelerated growth of the hair extensions market.

Major enterprises within the hair extensions market are focused on pioneering cutting-edge solutions, emphasizing the integration of AI-enabled applications to drive market revenues. These applications harness artificial intelligence (AI) to provide users with functionalities such as virtual hairstyle trials, matching hair extensions to natural hair color, and more. For instance, Hair Originals introduced "Magic Mirror," an AI-driven application in October 2022, catering to end-users, salons, and stylists. Accessible for both iOS and Android users, the app aims to cultivate a community centered on hair extension products and services. Its core objective is to offer substantial value to users by providing guidance on utilizing hair extension products, educating on the process, and aiding potential clients in identifying certified stylists through suggestions and tools. Simultaneously, the platform offers a networking opportunity for onboarded professionals to showcase their work, connect with salons, potential customers, and fellow hair stylists. This innovative approach signifies a strategic move towards enhancing user experience and expanding the market reach of hair extension products.

In May 2022, Beauty Industry Group (BIG), a prominent hair solutions company based in the United States, successfully acquired BELLAMI Hair for an undisclosed amount. This strategic acquisition is anticipated to leverage the strengths of the Beauty Industry Group, supporting BELLAMI in advancing its unique go-to-market strategy and further expanding its already robust consumer following. BELLAMI Hair, based in the US, is known for its expertise in developing and manufacturing high-quality hair extensions.

Major companies operating in the hair extensions market report are Beauty Industry Group Inc., Evergreen Products Group Limited, Shake-N-Go Inc., BELLAMI Hair LLC, Balmain Hair Couture, Donna Bella Inc., Hairdreams Haarhandels GmbH, Mayvenn Hair, Perfect Locks LLC, Racoon International, SalonLabs Exports India Pvt Limited, Jon Renau, Locks & Bonds, Easihair pro USA, SO. CAP. USA, Hairlocs International Inc., Femme Hair Extensions, Klix Hair Extension, Cinderella Hair Extensions, Hairlux, The Gorgeous Hair, Great Lengths S.p.A Societa Benefit, Viva Femina Inc., Frika Hair Pty Ltd., Hidden Crown Hair Extension, SalonLabs Exports India Pvt Limited

North America was the largest region in the hair extensions market in 2023. The regions covered in the hair extensions market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the hair extensions market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain

The hair extension market consists of sales of sew-in extensions, weaving, hot and cold fusion hair extension, and halo hair extension. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Hair Extensions Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on hair extensions market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for hair extensions? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The hair extensions market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Type: Synthetic Hair Extensions; Human Hair Extensions; Animal Hair Extensions
• 2) By Fitting Type: Clip-In; Micro Link; Tape-In; Glue-In
• 3) By Distribution Channel: Retail Stores; Supermarkets; E-Commerce
• 4) By End-User: Professional; Personal
• Companies Mentioned: Beauty Industry Group Inc.; Evergreen Products Group Limited; Shake-N-Go Inc.; BELLAMI Hair LLC; Balmain Hair Couture
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.