Global Hair Wigs and Extensions Market 2020: Hair Collection Industry Trends and Analysis

The widespread use of wigs and hair extensions are more than you can imagine. With time and incorporation of new technologies, the products are refining to ensure pure comfort while at use. In this blog, we present a clear discussion of the statistics determining the growth of the hair wigs and extensions market 2020.

Moreover, during the time period from 2020–2023, the global hair wigs and extensions market is expected to increase by 4.01 billion USD. Before getting into the in-depth study, let us discuss the key points.

Quick Key Insights about the Hair Wigs Market

• The hair wigs market will grow at a Compound Annual Growth Rate (CAGR) of about 10%.
• The incremental growth of the products’ use will amount to $4.01 billion.
• North America will contribute 44% of the hair extensions market growth.
• The demand for premium human hair products will be a vital driver.
• An increase of hair extensions and wigs throughout continents as Europe, South America, North America, MEA, etc.

Global Hair Wigs and Extensions Market 2020: An Overview of the Industry

With time, the demand for better quality hair wigs is growing. And the rise of premium hair wigs and bundles production is common in countries like the United States, the UK, and France. Now, such a demand is the reason for the increasing awareness regarding the journey of hair strands after and the process of sourcing them.

In addition, such a demand is ensuring the products that hold virgin hair strands from a single owner only. Also, Remy human hair wigs are common demands of the masses and are becoming more and more common.

Moreover, the demand for human hair wigs made from Caucasian hair in Europe and North America is common.

Human Hair Wigs and Extensions Market 2020 Promotions

The quick popularity of social media influencers besides the celebrities are opening up options for entrepreneurs to market their products and services widely. And it is mostly because of this that a CAGR of 10% is sure at the time of the forecast period.

In addition, for businesses, digital media is one of the crucial marketing and communication channels. And through personalities like celebrities and Instagram influencers, the promotion of brands will take a sudden boost. Also, this enlarges the company’s audience reach inviting immense opportunities and exposure to the brand.

But, why is this method such a success for companies?

Influencers themselves judge the product that businesses attempt to promote through them. And since the question of their trust comes at stake, they always pick the products that are authentically convenient. Also, they state their affordability and exhibit their functionality for the viewers to try them on too! Also, a large percentage of their fan base will trust their words over their own research.

Hair Extensions and Wigs Market Segmentation based on Geographic Locations

The regions where the market is concentrating mostly are,

• APAC
• Europe
• MEA
• South America
• North America

In the coming years, North America will hold the majority of the hair wigs and extensions market. Another major reason for the rapid growth is the presence of active exporters like Mexico and the States promoting wigs as contemporary fashion accessories.

Human Wigs and Extensions Market Segmentation based on Product

Two types of wigs and hair extensions are available in the market.

• Human hair extensions and wigs
• Synthetic hair extensions and wigs

The synthetic counterpart happens to be cheaper than the other alternative. Also, this is apt for temporary use, for instance, in theatrical plays where details are not a thing of concern. Heat application isn’t possible on such wigs because of the material of the strands.

On the other hand, the human strands are extremely comfortable both wearing them, experimenting with colors and styles. In countries like France, the States and the UK, high-end human hair is commonly in use.

This discussion involving authentic statistics and numbers regarding the hair wigs and extensions market industry is sure to convince you of its rapid expansion. And why shouldn’t it be? It isn’t confined to being just a fashion accessory. People with alopecia, hair thinning and other issues resort to this for solutions. They find their answers here since these products boost confidence in them.