In 2020, the global market for hair wigs and extensions demonstrated significant strength and is projected to sustain a steady revenue CAGR over the forecast period. The growth in market revenue is attributed to the increase in hair loss rates worldwide and the popularity of personal grooming and beauty products. The market has witnessed a surge in demand over the past few years, primarily driven by customers seeking hair extensions or wigs for both functional and cosmetic purposes.
Hair extensions and wigs are predominantly purchased by individuals of African descent, and the demand from this demographic has remained relatively inelastic over the years. These customers typically spend a considerable amount on chemical hair care products, such as relaxers, to straighten and smoothen their hair.
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Top Profiled Companies in the Global Hair Wigs and Extensions Market Report:
- Artnature Inc.
- Donna Bella OpCo LLC
- N. Longlocks
- Great Lengths Universal Hair Extensions Srl
- Hair Visions International
- Klix Hair Inc.
- Locks and Bonds
- Racoon International Ltd.
- Shake-N-Go Inc.
- Shandong AY Hair Products Co. Ltd.
The global consumer goods market revenue growth is primarily attributed to factors such as the rapid increase in global population, an increasing demand for food and other essential consumer goods such as healthcare nutrition, personal care hygiene, and electronic products, and the changing lifestyles and preferences of consumers, the growing demand for packaged and processed products in food and beverage, and the growing working population. Manufacturing and packaging techniques have advanced technologically, as well as the adoption of cutting-edge technologies such as artificial intelligence, the Internet of Things (IoT), big data analytics, robotics, and automation in the consumer goods industry. Other key factors driving global consumer goods market revenues include increasing awareness of the negative environmental effects of plastic packaging, as well as a growing demand for environmentally friendly and sustainable packaging solutions. Consumer income levels are expected to rise in developing economies such as India thanks to government regulations and guidelines regarding product quality and safety.
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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Further market segmentation
Hair Type Outlook (Revenue, USD Billion; 2018-2028)
- Human Wigs and Extensions
- Synthetic Wigs and Extensions
End-Users Outlook (Revenue, USD Billion; 2018-2028)
- Individual Consumers
- Film Industry
- Fashion Industry
Key Takeaways of the Global Hair Wigs and Extensions Market Report:
- A comprehensive overview of the global Hair Wigs and Extensions industry.
- Accurate market projections in terms of market size, share, and volume.
- Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues.
- Deep-dive analysis of the upcoming market trends.
- Qualitative and quantitative analyses of the global Hair Wigs and Extensions market.
- Elaborate study of the leading regional markets in the global Hair Wigs and Extensions market.
- Complete overview of the market’s competitive landscape.
- Brief look at the company profiles and portfolios.
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