Hair Wigs and Extension Market size to increase by USD 4.66 Bn | Technavio’s Research Insights highlight Growing Prominence of Celebrity and Social Media Influencers as Key Trend

NEW YORK, Nov. 11, 2021 /PRNewswire/ — According to the research report «Hair Wigs and Extension Market – Forecast and…

NEW YORK, Nov. 11, 2021 /PRNewswire/ — According to the research report «Hair Wigs and Extension Market – Forecast and Analysis Report 2021-2025«, the market is expected to have a YOY growth rate of 10.28% in 2021, growing at a CAGR of almost 10% between 2020 and 2025.

APAC is the largest market for hair wigs and extensions. Factors such as increasing population and the growth of healthcare and entertainment industries are creating significant growth opportunities for hair wigs and extensions manufacturers in APAC.

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Vendor Insights

The global hair wigs and extension market is fragmented in nature due to the presence of several global and regional players. Artnature Inc., Donna Bella OpCo LLC, F.N. Longlocks, Great Lengths Universal Hair Extensions Srl, Hair Visions International, Klix Hair Inc., Locks and Bonds, Racoon International Ltd., Shake-N-Go Inc., and Shandong AY Hair Products Co. Ltd. are some of the dominant vendors featured in the report.

The hair-wigs market is capital intensive, which has enabled many established players to have a competitive advantage over other players. To compete and sustain in the market, other players are implementing various growth strategies such as new product launches and M&As.

For instance, in January 2020, Great Lengths Universal Hair Extensions Srl launched two new products namely GL Tapes Minis and GL Strands. These products were developed after research with certified Great Lengths stylists.

Find additional highlights on the growth strategies adopted by vendors and their product offerings. Read Sample Market Research Report.

Geographical Market Analysis

APAC will provide maximum growth opportunities in the hair wigs and extension market during the forecast period. According to our research report, the region currently holds 43% of the global market share and is expected to dominate the market through 2025.

The report also offers a detailed analysis of the growth of the market across North America, Europe, South America, and MEA. In addition, countries such as Japan, the US, South Africa, China, and the UK are expected to emerge as prominent markets for hair wigs and extensions during the forecast period.

Know more about this market’s geographical distribution along with the detailed analysis of the top regions. www.technavio.com/report/hair-wigs-and-extension-market-industry-analysis

Key Market Trends & Challenges:

The report identifies the growing prominence of celebrity and social media influencers as the major trend influencing hair wigs and extension market. Rapid penetration of the internet, high adoption of smartphones, and the rising prominence of digital media have increased the number of online users globally. This is encouraging vendors in the market to invest in social media campaigns and promote their products through social media influencers for wider reach. This trend is expected to positively influence the growth of the market during the forecast period.

Despite the adoption of such marketing strategies, increasing labor costs are expected to reduce the growth opportunities for vendors. The lack of experienced personnel in developed countries such as the US and the UK has resulted in a decline in the number of handwoven wig manufacturers. This has resulted in high labor costs in the production of handwoven wigs, which is expected to restrict the growth of vendors.

View free sample for highlights on market Trends & Challenges affecting the hair wigs and extension market.

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Hair Wigs And Extension Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of almost 10%

Market growth 2021-2025

USD 4.66 billion

Market structure

Fragmented

YoY growth (%)

10.28

Regional analysis

APAC, North America, MEA, Europe, and South America

Performing market contribution

APAC at 43%

Key consumer countries

Japan, US, South Africa, China, and UK

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Artnature Inc., Donna Bella OpCo LLC, F.N. Longlocks, Great Lengths Universal Hair Extensions Srl, Hair Visions International, Klix Hair Inc., Locks and Bonds, Racoon International Ltd., Shake-N-Go Inc., and Shandong AY Hair Products Co. Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period.

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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