The hair extension industry is one of the fastest-growing beauty sectors, and it’s no surprise why. Hair extensions offer a way to instantly transform your look and give you the length and volume you desire. But how big is the hair extension industry, and what are the latest trends?
In this article, we’ll take a look at the latest hair extension industry statistics to give you a better understanding of the industry and its growth. We’ll also discuss the most popular hair extension types and the top brands in the industry. So, if you’re interested in learning more about the hair extension industry, read on.
Hair Extension Industry: The Most Important Statistics
The hair wigs and extensions market was valued at USD 6.1 billion in 2021 and is projected to grow at a CAGR of 11.28% from 2021 to 2027 to reach USD 12.27 billion.
The Hair Cold Clip technology is a revolutionary way to install and remove hair extensions quickly and discreetly. It takes 40 minutes to install and 25 minutes to remove and the tips are the thinnest on the market at 2mm thick.
Hair Extension Industry: Statistics Overview
The demand for hair extensions is expected to increase due to the rising prevalence of hair loss conditions such as alopecia areata, which is projected to affect 6.8 million Americans by 2020, and the increased use of chemical-based shampoos.
The market is expected to grow from $2.38 billion in 2021 to $3.43 billion in 2028, at a CAGR of 5.3%.
In April 2020, 70,000 Americans will be affected by alopecia areata, with women making up half of those with the condition. This, combined with the growing concern over these ailments, the global lockdown due to COVID-19, and the increasing geriatric population, is driving the growth of the hair wig and extension market, estimated at USD 6.13 billion in 2021.
This demonstrates the potential for growth in the industry due to the increasing prevalence of hair-related issues, such as alopecia, and the growing demand for wigs and extensions to conceal these issues.
The hair extension industry is expected to experience significant growth in Southeast Asia, sub-Saharan Africa, China, and India, while Latin America is expected to grow more slowly.
This indicates that manufacturers are establishing factories in Asia to produce high-end hair products for the global market at cheaper prices than those found in other areas, and that there is an increasing demand for hair products in urban areas.
The majority of purchasers of hair wigs and extensions are native Africans and persons of African origin, and the market for hair wigs and extensions is anticipated to expand at a CAGR of 16.06% between 2023 and 2028, with the US dominating the global market.
There is a large demand for hair wigs and extensions, particularly in African countries and the US, and that manufacturers are establishing factories in Asia to produce high-end hair products for the global market at cheaper prices.
This indicates that the hair extension industry is likely to grow significantly in the coming years.
Human weft hair extensions are made from genuine hair donated by condors, primarily in Vietnam, India, and China, and are sold in bundles of 100 grams.
This provides information on the source of the hair used in the extensions, as well as the amount of hair available.
The hair wigs and extensions market was valued at USD 6.1 billion in 2021 and is projected to grow at a CAGR of 11.28% from 2021 to 2027 to reach USD 12.27 billion.
This growth is driven by medical conditions, hormones, and technological advancements in the production and design of synthetic hair wigs. The demand for hair extensions is increasing due to medical conditions and hormones, as well as technological advancements in the production and design of synthetic hair wigs. This indicates that the industry is growing and that there is potential for further growth in the future.
The hair extension industry is currently estimated at $7.5 billion and is expected to increase by $4.66 billion by 2025. 40% of the world’s demand comes from the US, and China produces 70% of the world’s hair supply.
This matters because when China closed its borders and India’s COVID crisis caused imports to be banned, it created uneasiness in the industry and a massive smuggling operation was thwarted at the Chinese border.
China is the leading producer of hair extensions and wigs, with the US consuming more than $5 billion worth of hair products in 2016 and the global hair extension and wig market predicted to generate more than $10 billion in sales by 2023.
This shows the potential for growth in the industry and the importance of China as a major producer of hair extensions.
Luxy Hair is the first hair extension company to introduce an AI technology tool to make finding the perfect hair color match easier and more individualized.
This eliminates the element of guessing and makes ordering hair extensions easier, seamless, and more efficient.
The Hair Cold Clip technology is a revolutionary way to install and remove hair extensions quickly and discreetly. It takes 40 minutes to install and 25 minutes to remove and the tips are the thinnest on the market at 2mm thick.
This provides a faster and more discreet way to install and remove hair extensions, which can help salons save time and money while providing a better service to their customers.
Supplementary Statistics
The global hair extension market is expected to grow at a CAGR of 4.5% during the period of 2021-2026.
The industry is expected to experience steady growth, indicating that it is a viable and profitable sector to invest in. This statistic is a valuable insight for anyone looking to gain a better understanding of the hair extension industry and its potential for growth.
In 2020, the hair extension market was valued at approximately USD 5.41 billion.
It is a key indicator of the industry’s success and a valuable insight into the current state of the market. This statistic is an essential piece of information for anyone looking to gain a better understanding of the hair extension industry and its potential.
North America held the largest market share for hair extensions in 2019, accounting for about 30% of the global market.
This statistic is essential for anyone looking to gain a better understanding of the hair extension industry and its potential for future growth.
The online sales segment of hair extensions accounted for 31.5% market share in 2021.
It is a clear indication that the hair extension industry is thriving, and that the online sales segment is a major contributor to its success. This statistic is an important piece of information for anyone looking to gain insight into the hair extension industry and its current state.
The demand for human hair extensions is anticipated to grow by over 7.8% during the forecast period of 2021-2026.
This is an exciting prospect for those in the industry, as it suggests that the market is likely to remain strong and profitable. Furthermore, this statistic provides valuable insight into the industry, allowing businesses to plan their strategies accordingly and capitalize on the growing demand.
Europe’s hair extension market is expected to reach a valuation of USD 1.3 billion by 2026.
It highlights the fact that the industry is growing at a rapid pace and is expected to reach a staggering valuation of USD 1.3 billion by 2026. This is a clear indication that the hair extension industry is a lucrative and profitable venture for those looking to invest in it.
Asia-Pacific is predicted to experience the highest growth in the hair extension market, with a CAGR of 5% during the forecast period.
The region is likely to experience a steady increase in demand for hair extensions, making it an attractive option for businesses looking to capitalize on the growing trend. Furthermore, the 5% CAGR indicates that the market is likely to remain strong and profitable in the foreseeable future.
The synthetic hair extension market share is estimated to decline by 7% between 2021 and 2026.
This could be due to a variety of factors, such as a shift in consumer preferences, the emergence of new technologies, or a decrease in the availability of synthetic hair extensions. This information is essential for anyone looking to gain a better understanding of the hair extension industry and the trends that are shaping it.
The global hair wigs and extensions market revenue is projected to increase by 20% from 2017 to 2023.
It is an important piece of information for anyone interested in the Hair Extension Industry, as it provides insight into the potential for growth and success in the sector. With the projected increase in revenue, it is clear that the Hair Extension Industry is a lucrative and promising field.
The Virgin Remy hair extensions segment held a significant market revenue of around 54% in 2020.
Virgin Remy hair extensions have become the go-to choice for many consumers, and that the segment has seen a significant increase in market revenue in 2020. This statistic is important for anyone looking to gain insight into the hair extension industry and the trends that are driving it.
Salon-based application of hair extensions could hold the largest revenue share, at about 36% in 2021.
Thus, the industry is growing and that more people are turning to hair extensions as a way to enhance their look. This statistic is a testament to the fact that the hair extension industry is a lucrative one and is likely to continue to grow in the coming years.
Fusion hair extensions are expected to grow at a CAGR of approximately 5.7% during the period between 2021 and 2026.
This is an important indicator for anyone interested in the hair extension industry, as it provides a glimpse into the potential opportunities and challenges that may arise in the near future.
Nearly 2,500 hair extension businesses are currently operating in the United States.
It shows that the demand for hair extensions is high and that there are plenty of businesses to meet that demand. This statistic is an important indicator of the health of the hair extension industry and provides valuable insight into the current state of the industry.
Hair extension market in South America is projected to grow at a CAGR of 4.1% during the forecast period.
The industry is expected to expand at a steady rate, indicating that there is a strong demand for hair extensions in the region. This is an important piece of information for anyone interested in the Hair Extension Industry, as it provides insight into the potential for success in the region.
Growing at a CAGR of 5.5%, the hair extension market in the Middle East and Africa is set to exceed a value of $400 million by 2026.
It is an important piece of information for anyone interested in the hair extension industry, as it provides an indication of the growth and potential of the market in the region. This statistic is especially relevant for a blog post about Hair Extension Industry Statistics, as it provides a valuable insight into the industry’s current and future prospects.
Demographic studies show that approximately 65% of the total hair extensions consumers are aged between 20 to 35 years.
Thus, it is essential for businesses to understand the age range of their consumers in order to effectively tailor their products and services to meet their needs. This statistic provides valuable insight into the preferences and habits of the Hair Extension Industry’s primary customer base, allowing businesses to better understand their target market and develop strategies to reach them.
Conclusion
The hair extension industry is a rapidly growing market with a variety of products and services. It is estimated that the global hair extension market will reach $10.9 billion by 2025. The demand for hair extensions is expected to increase due to the growing trend of hair styling and the increasing popularity of celebrity-inspired hairstyles.
With the increasing demand for hair extensions, the industry is expected to continue to grow and expand in the years to come. With the right strategies, the hair extension industry can continue to thrive and become even more successful.
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