Hair Wigs Market Witnessing Boom on the Back of Growing Grooming Industry
The recent past has witnessed a significant transformation in the grooming industry which has been backed by increased per capita expenditure on fashion accessories. In the past half-decade, the market for hair wigs is seen to grow at a faster rate as compared to other grooming products. While demand for hair wigs has been observed to follow a steady path in the developed clusters, the developing economies are projected to lay a fertile ground for industry growth.
Emerging Regions Presents Fertile Ground for Hair Wigs Market Growth
Across the globe, steady developments in the grooming sector are seen and the fast-paced lifestyle of the global population has compelled people to take easy and convenient options as far as routine personal grooming is concerned. Africa is the second-largest destination for Chinese wigs, making up 37% of the overall market, just behind the US’s market share of 39%.
As per the US International trade commission, China, Indonesia, and India are significant exporters of hair wigs while the hair wig and extension market is forecasted to grow at a faster pace than other hair care products in the industry owing to early hair loss and the recent rise in trend of hair experiments in the fashion industry.
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Hair Wigs Market Growing Amidst Availability of Potential Substitutes
There exist alternatives to hair wigs including surgical and non-surgical transplants, which are a permanent solution to cure hair loss though they are not guaranteed. Moreover, a surgical method for hair transplants is more expensive and is limited to the donor's hair availability, and results differ from case to case. When compared to these alternatives, demand for hair wigs has garnered higher revenues in the recent past because of their easy application and less expensive.
Demand for human hair extension is raising owing to its quality among Europeans and Americans, but the segment is likely to witness a lower growth as compared to wigs. According to a leading wig supplier of China, Chinese hair extensions are highly popular in the international market owing to its strand quality, though hair for them is not easy to obtain locally.
To serve hair wig and extension demand, significant players like Rebecca, SNG, Hengyuan, Ruimei, Lord hair, Revlon, Raquel Welch, Paula young have introduced human hair wigs, which are also called virgin hair, as they are not treated with chemicals and are untouched, sourced directly from the human head. Hair wigs are a category of grooming products, where the demand for the former has been observed to grow at a faster pace as compared to the latter.
Hair wigs serve various applications in the end-use industries and has retained the space in the retail shelves in various types. The global hair wig market can be segmented on the basis of type, material, end use, consumer orientation, sales channel, and geography. Based on type, the hair wig market can be segmented into hair extension and full head hair wigs. On the basis of material, the hair wig market can be segmented into synthetic, natural hair.
In terms of end use, the global hair wig market can be broadly segmented into commercial users and individual users. Commercial users of hair wigs can be further segmented into the fashion and entertainment industry, hair care and grooming industry, and others. The demand for hair wigs is significantly higher as compared to individual users.
Developing Regions Likely to Experience High Growth in the Hair wig Market
Worldwide increase in disposal income and urge to improve the physical appearance is boosting the demand for personal grooming products, including hair wigs and extensions. Consumer expenditure on hair wigs in countries like China and India has grown multifold in the recent past. Online presence of key players like Rebecca, SNG, Artnature, Aderans, and Ruimei are growing their global footprint.
Asia-Pacific and North America regions dominate the styling industry, accounting for more than 60% of the cosmetics market combined. African descent population are familiar with artificial hair braiding due to their low hair growth patterns. Medical patients are another potential consumer base for hair wigs who undergo chemotherapy wherein an ample of hair loss is followed by treatment like in cancer and other immune disorders such as alopecia, mostly found in African countries.
The research report presents a comprehensive assessment of hair wigs market and contains thoughtful insights, facts, and historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to hair wigs market segments such as by type, by material by end user, by consumer orientation, by sales channel and geographies.
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The hair wigs market report covers exhaustive analysis on:
- hair wigs market Segments
- hair wigs market Dynamics
- hair wigs market Size
- Supply & Demand of hair wigs accessories
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis for hair wigs market includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordics, Eastern Europe, Rest of Europe)
- East Asia (Japan, China, South Korea)
- South Asia (India, Thailand, Malaysia, Indonesia, Philippines, Rest of South Asia)
- Oceania (Australia, New Zealand)
- The Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel, Rest of MEA)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments of hair wigs market. The report also maps the qualitative impact of various market factors on market segments and geographies.
An Adaptive Approach to Modern-day Research Needs
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation of hair wigs market is softening tools.
- Historical, current and projected market size of hair wigs market in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
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