[Latest] Global Hair Extensions Market Size, Forecast, Analysis & Share Surpass US$ 5.89 Billion By 2030, At 6.3% CAGR

The Global Hair Extensions Market was at US$ 3.40 Bn in 2023 and is growing to approx US$ 5.89 Bn by 2030, with a CAGR growth of 6.3% between 2023 and 2030.

AUSTIN, TEXAS, UNITED STATES, May 23, 2023 /EINPresswire.com/ — According to the study, The Global Hair Extensions Market was estimated at USD 3.40 Billion in 2023 and is anticipated to reach around USD 5.89 Billion by 2030, growing at a CAGR of roughly 6.3% between 2023 and 2030.

Report URL: https://www.custommarketinsights.com/report/hair-extensions-market/

Global Hair Extensions Market: Overview

The Hair Extensions Market refers to the industry that produces and sells hair extensions – artificial hair that is added to one’s natural hair to increase length, volume, and/or add highlights. Hair extensions can be made from synthetic or human hair and are available in various styles, colors, and textures to suit different needs and preferences.

The market for hair extensions has been growing rapidly in recent years, driven by factors such as changing fashion trends, the increasing popularity of hair styling and hair care products, and the rising disposable incomes of consumers. Hair extensions are used not only for fashion and beauty purposes but also for medical purposes, such as to cover bald spots or to add volume to thinning hair.

Global Hair Extensions Market: Growth Drivers

Product Innovation: Hair extension companies are investing in research and development to create innovative products that cater to the evolving demands of consumers. This includes developing new hair extension materials, colors, textures, and installation methods.

Brand Building: Companies are investing in building their brand image and increasing their visibility through various marketing and advertising channels. This includes collaborations with celebrities, social media influencers, and fashion brands to promote their products.

Expansion of Distribution Channels: Hair extension companies are expanding their distribution channels to make their products more accessible to customers. This includes opening new retail stores, partnering with salons and beauty supply stores, and expanding their online presence.

Acquisitions and Partnerships: Companies are acquiring or partnering with other businesses to expand their product portfolio or enter new markets. This helps them leverage the existing distribution channels and customer base of the acquired or partnered company.

Geographical Expansion: Companies are expanding their presence in new geographies to tap into the growing demand for hair extensions. This includes entering emerging markets with high growth potential and expanding into regions where the market is relatively underdeveloped.

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Key Insights:

A) As per the analysis shared by our research analyst, the Global Hair Extensions market is estimated to grow annually at a CAGR of around 6.3% over the forecast period (2023-2030).

B) In terms of revenue, the Global Hair Extensions market size was valued at around USD 3.40 Billion in 2023 and is projected to reach USD 5.89 Billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.

C) Increasing demand in the fashion and entertainment industry: The growing use of hair extensions in the fashion and entertainment industry is one of the major factors driving the demand for hair extensions. Celebrities, models, and actresses have played a significant role in popularizing hair extensions, leading to an increase in demand among consumers.

D) The growing availability of hair extensions: The growing availability of hair extensions in retail stores and online has made it easier for consumers to access hair extensions. This, in turn, has led to an increase in demand for hair extensions.

E) Limited availability of high-quality hair: High-quality, natural-looking hair extensions can be difficult to find, as there are limited sources of high-quality hair. This can result in a limited supply of high-quality hair extensions, which can impact the availability of the product in the market.

Press Release For Global Hair Extensions Market: https://www.custommarketinsights.com/press-releases/wearable-payment-devices-market-size/

Regional Landscape

The hair extensions market can be analyzed on a regional basis, covering key regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America and Europe held significant shares in the global hair extensions market in 2021 and are expected to maintain their dominance during the forecast period.

The market growth in these regions is attributed to the presence of a large number of cosmetic manufacturers and a high demand for hair extensions for personal and professional purposes. Additionally, the increasing trend of celebrities openly using hair extensions and rising disposable income among consumers are driving the demand for hair extensions in these regions.

The Asia Pacific region is expected to witness substantial growth in the hair extensions market during the forecast period. The rising demand for hair extensions in countries such as China and India is a significant factor contributing to the growth of the market in this region. Increasing awareness about hair care and grooming products among consumers is also fueling the demand for hair extensions in this region. Moreover, the growing number of salons and beauty parlors in developing economies is likely to create a favorable environment for market growth.

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Key Players

Jon Renau

Hairlocs

Hairdreams Haarhandels GmbH

So Cap USA

Shake-N-Go Inc

Mayvenn

Hairlux

Balmain Hair Couture

Beauty Industry Group Inc

The Gorgeous Hair

Evergreen Products Group Limited

SalonLabs Exports India Pvt Limited

Great Lengths S.p.A Societa Benefit

Perfect Locks LLC

Locks & Bonds

Others

The Global Hair Extensions Market is segmented as follows:

By Type

Synthetic Hair Extension

Human Hair Extension

Animal Hair Extension

By End Use

Professional

Personal

By Fitting Type

Clip-In

Micro Link

Tape-In

Glue-In

By Distribution Channel

Retail Stores

Super Markets

E-Commerce

By Geography

North America

The USA

Canada

Mexico

Europe

The UK

Germany

France

Italy

Russia

Rest of Europe

Asia Pacific

China

Global India

Japan

South Korea

Malaysia

Philippines

Rest of Asia-pacific

Latin America

Brazil

Rest of Latin America

Middle East and Africa

GCC

North Africa

South Africa

Rest of Middle East & Africa

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