NEW YORK — The “Hair Wigs And Extension Market by Product and Geography – Forecast and Analysis 2022-2026” report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years.
The potential growth difference for the hair wigs and extension market between 2021 and 2026 is USD 5.26 billion, as per the latest market analysis report by Technavio. The report predicts the market to witness an accelerating growth momentum at a CAGR of 9.82% during the projected period. Factors such as the growing technological advances in the production and design of synthetic hair wigs coupled the surging prominence of celebrity and social media influencers will propel the market growth positively. However, high labor costs associated with handwoven wigs is one of the factors hindering the hair wigs and extension market growth.
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Key Market Dynamics:
The hair wigs and extension market report is segmented by Product (Human hair wigs and extension and Synthetic hair wigs and extension) and Geographic (APAC, North America, Middle East and Africa, Europe, and South America).
- The human hair wigs product segment held the largest hair wigs and extension market share during the forecast period. The growth of this segment is likely to continue significantly throughout the forecast period. The growth can be attributed to the high popularity of human hair wigs and extensions owing to their resemblance to natural hair and better product quality and longevity compared with synthetic hair wigs and extensions. Additionally, hair from donors in rural areas in these countries is in high demand as the hair obtained is of high quality and largely unexposed to harsh chemicals and colors. Such increasing demand will drive the segment growth during the forecast period.
- APAC will be the leading region with 43% of the market’s growth during the forecast period. Japan, China, and South Korea are the key markets for hair wigs and extension market in APAC. Market growth in this region will be slower than the growth of the market in Middle East and Africa.The growth of key end-user industries such as the healthcare and entertainment sectors will propel the hair wigs and extension market growth in APAC over the forecast period.
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