The hair extension market size is projected to grow from USD 2.38 billion in 2021 to USD 3.43 billion in 2028. As per a published report by Fortune Business Insights™, titled, “Hair Extension Market, 2021-2028,” the market stood at USD 2.35 billion in 2020. It is set to exhibit a CAGR of 5.3% in the forecast period during 2021-2028.
Brittany Aldean Joins Hands with Harper Ellis Style to Launch ‘Icon Collection’
In February 2021, Brittany Aldean, a social media influencer partnered up with Harper Ellis Style, a provider of high-quality hair extensions, to develop a new collection of clip-in hair extensions. Her endeavor is set to contain seven brass-free colors and will be named the Icon Collection. These colors will include The Roman, The Everest, The Havana, The Dolly, The Brittany, The Maui, and The Posh.
As per the beauty guru, “Each color will be available in two lengths, namely, 22 inches and 16 inches. They will have color-coded clips and color keys. Once this collection is in the market, I will be releasing the Classic Collection in spring to broaden the availability of color matching.”
Surging Sales of Personal Hygiene and Styling Products to Aid Growth amid COVID-19 Pandemic
The COVID-19 pandemic has resulted in stay at home norms by government bodies to curb the spread of this deadly virus. Hence, people are shifting rapidly towards grooming and personal hygiene products as they are unable to go to beauty salons. Paytm Mall, for instance, stated that from 1st January 2020 to 18th May 2020, the company exhibited a surge of 50% in the sales of styling products, especially beard shavers, hair extensions, and straighteners in India alone. Such factors are set to affect growth of this market positively.
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Our skilled analysts have presented an accurate picture of the global market by summation, synthesis, and study of data from various crucial sources. They have also included multiple facets of the industry with the main focus on determining the significant market influencers. Thus, the data is reliable and comprehensive. It was gathered by conducting extensive primary and secondary research.
Drivers & Restraints-
Rising Geriatric Population Suffering from Hair Loss to Boost Growth
The rising demand for hair extensions from the geriatric population across the globe is set to propel growth. They are the ones who face hair fall issues the most. In 2019, for instance, the United Nations Department of Economics and Social Affairs declared that there were around 703 million people belonging to the age group of 65 years & above in 2019 worldwide.
At the same time, the awareness programs regarding the availability of such products is also increasing among the aging populaces. However, the availability of alternate grooming tools, such as bands, curlers, and straighteners may obstruct the hair extension market growth in the upcoming years.
Female Segment to Dominate Fueled by Higher Availability of Styling Items
By end-users, the market is bifurcated into males and females. Out of these, the female segment is set to dominate throughout the forthcoming years by holding the largest hair extension market share. The higher availability of personal care and styling products for them would aid growth.
Asia Pacific to Lead Stoked by Rising Cases of Hair Damage and Hair Loss
- Asia Pacific is likely to remain at the forefront because of the increasing prevalence of hair damage and hair loss issues. As per the Centre for Strategic and International Studies (CSIS), in China, around 1.42 million suffered from premature deaths in 2019 because of the high air pollution level of PM2.5.
- In 2020, North America held USD 0.83 billion in terms of revenue. The region is anticipated to grow rapidly because of the increasing number of beauty salons in Canada and the U.S. Besides, nowadays women are also purchasing premium quality products, which, in turn, would aid regional growth.
- In Europe, the increasing adoption of e-commerce websites to shop for these products is set to drive growth. The Italian Cosmetics Association, for instance, stated that the online sales of styling products, such as sprays, extensions, and gels surged by 3.2% in 2019 in Italy. By type, the synthetic segment earned 20% in the German market in 2020.
Browse Summary of This Research Report:
Celebrities and Influencers Tie Up with Key Players to Introduce New Collections
The global market contains numerous renowned companies that are nowadays focusing on the partnership strategy to develop new products. Also, social media influencers and celebrities are coming up with their innovative collections by collaborating with reputed firms.
Below is one of the significant industry developments:
- October 2019: Jordyn Woods, an American model teamed up with Easilocks to introduce a new hair extension collection called ‘Jordyn Woods x Easilocks.’ It includes three pieces, namely, the ponytail, the fringe, and a lace U part. They are priced at $ 35 to $80 and will be available in eighteen multi-tonal shades.
A list of prominent hair extension manufacturers operating in the global market:
- Great Lengths Universal Hair Extensions Srl (Roma, Lazio, Italy)
- Balmain Hair Group B.V. (Netherlands)
- Hair Visions International (Florida, USA)
- Esqido (Toronto, Canada)
- CAP. Original USA (Florida, USA)
- Cinderella Hair (London, UK)
- Racooninternational (United Kingdom)
- Evergreen Products Group Limited (Hong Kong)
- Easihair Pro USA (United States)
- Hairlocs (California, USA)
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