The hair extensions global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Hair Extensions Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
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 growth in the historic period can be attributed to fashion and beauty trends, celebrity endorsements and influence, cultural diversity and style preferences, weddings and special events, cosplay and creative expression..
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 growth in the forecast period can be attributed to rising beauty and grooming awareness, influence of social media and influencers, innovation in hair extension styles, increased acceptance in professional settings, growing wedding and event industry.. Major trends in the forecast period include focus on seamless and undetectable installations, emphasis on education and training programs, diversity and inclusivity in product offerings, integration of virtual try-on technologies, e-commerce dominance and direct-to-consumer sales..
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The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The increasing prevalence of hair-related issues is expected to propel the growth of the hair extensions market going forward. Hair-related problems refer to various conditions that affect hair’s health, appearance, and development. It includes hair loss, stress-related shedding, scalp conditions, oiliness, split ends, breakage, hair thinning, and chemical treatments like dye allergies or heat exposure damage. Hair extensions provide a rapid and varied option to attain desired hair aesthetics, catering to fashion accessories and personal demands. For instance, in July 2023, according to a study produced by Medihair GmbH, a Germany-based enterprise for hair loss treatments, over 85% of men and 33% of women experience hair loss, with approximately 35 million men and 21 million women experiencing hair loss globally in 2023. Furthermore, in February 2021, according to the National Health Service (NHS), a UK-based health institution, it is anticipated that roughly 40% of women aged 70 years or older develop female-pattern baldness, and 8 million women in the UK experience hair loss by the age of 50. Therefore, the increasing prevalence of hair-related issues will drive the hair extensions market.
Market Trends –
Major companies operating in the hair extension market are focused on innovating advanced solutions, such as AI-enabled applications, to drive revenues in the market. AI-enabled applications use artificial intelligence (AI) to help users try on different hairstyles, match hair extensions to their natural hair color, and more. For instance, in October 2022, Hair Originals, an India-based manufacturer of hair extensions and products, launched Magic Mirror, an AI-enabled application aimed at end-users, salons, and stylists. The application, accessible for iOS and Android users, is intended to foster a community centered on hair extension goods and services. The app’s goal is to provide value to its users by offering material on how to utilize hair extension products, promoting awareness of the procedure, and assisting potential clients with suggestions and tools to identify certified stylists. In turn, on-boarded professionals will have access to a platform to promote their work and network with salons, prospective consumers, and other hair stylists.
The hair extensions market covered in this report is segmented –
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
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Regional Insights –
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
Key Companies –
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
Table of Contents
1. Executive Summary
2. Hair Extensions Market Report Structure
3. Hair Extensions Market Trends And Strategies
4. Hair Extensions Market – Macro Economic Scenario
5. Hair Extensions Market Size And Growth
…..
27. Hair Extensions Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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