The Latest Hair Extensions Industry Statistics Explained
In 2020, the artificial hair business grossed over $6 billion in the US.
The statistic that the artificial hair business grossed over $6 billion in the US in 2020 indicates a substantial economic impact of this industry within the country. This figure represents the total revenue generated by the sale of artificial hair products, including wigs, extensions, and hairpieces, highlighting the significant consumer demand for such products. The growth of this market can be attributed to various factors such as changing fashion trends, increased awareness of hair loss solutions, and the influence of social media and celebrities. Beyond the financial implications, this statistic also sheds light on the importance of the beauty and personal care industry in the US economy and the diverse range of products and services that cater to consumer preferences and needs.
Hair extensions and wigs are most popular among African American women, with 81% reporting that they have used wigs, weaves or extensions in their lifetime.
The statistic indicates that among African American women, there is a high prevalence of usage of hair extensions and wigs, with 81% of the surveyed population reporting having used them at some point in their lives. This suggests that hair styling practices such as wigs, weaves, and extensions are particularly common and popular within the African American community. The high percentage reflects a cultural preference or a fashion trend within this demographic group. The statistic highlights the significance of hair care and styling as an important aspect of African American women’s beauty routines and self-expression.
The Europe Hair Extensions market size was $206.3 Million in 2019.
The statistic indicates that the Europe Hair Extensions market had a total value of $206.3 million in 2019. This figure represents the combined revenue generated from the sale of hair extensions within the European market during that year. The market size provides an indication of the overall scope and economic significance of the hair extensions industry in Europe, highlighting the consumer demand for these products and the resulting business opportunities for companies operating in this sector. This information can be used by industry stakeholders, investors, and policymakers to track market trends, assess the health of the industry, and make informed decisions related to marketing strategies, investments, and regulations.
Human hair extension types dominate more than 80% of the market share in terms of revenue.
The statistic indicates that human hair extension types make up more than 80% of the total revenue generated in the hair extension market. This suggests that consumers are predominantly choosing human hair extensions over synthetic options, likely due to factors such as the perceived quality, durability, and natural appearance of human hair extensions. The high market share of human hair extensions signifies strong demand for these products among consumers, potentially driven by fashion trends, social influences, and the desire for high-quality hair styling solutions. Businesses operating in the hair extension industry may find this statistic valuable for understanding consumer preferences and making strategic decisions to capitalize on the popularity of human hair extensions in order to maximize revenue and market share.
The global hair wigs and extension market by revenue is expected to reach $13.33 billion by 2026.
This statistic suggests that the total revenue generated by the global hair wigs and extension market is projected to grow to $13.33 billion by the year 2026. This indicates a significant expansion in the market size compared to the current revenue levels. The growth is likely driven by factors such as increasing consumer demand for hair wigs and extensions, evolving fashion trends, and advancements in product technology. The anticipated rise in revenue implies a flourishing market with lucrative opportunities for businesses operating in the hair wigs and extensions industry, as well as signaling a growing interest among consumers in these products.
The Clip In human hair extensions segment accounted for the largest revenue share of more than 30% in 2020.
This statistic indicates that the Clip In human hair extensions segment generated the highest proportion of total revenue compared to other segments in the human hair extensions market in 2020, with a share of over 30%. This suggests that Clip In extensions were the most popular and widely purchased type of human hair extensions during that period, reflecting strong consumer demand for this particular product category. The segment’s significant revenue share highlights its importance in the market and can be indicative of various factors such as consumer preferences, fashion trends, marketing strategies, and product quality within the human hair extensions industry.
In the United Kingdom, the industry income for hairdressing and other beauty treatment was approximately 8.4 billion British pounds in 2020.
The statistic indicates that the industry income for hairdressing and other beauty treatment services in the United Kingdom amounted to around 8.4 billion British pounds in 2020. This figure represents the total revenue generated by businesses within this industry, encompassing earnings from a wide range of beauty services such as haircuts, styling, coloring, facials, manicures, pedicures, and other treatments. The large size of the industry income highlights the significant demand for beauty services in the UK market, reflecting the importance placed on personal grooming and appearance by consumers. Additionally, the statistic suggests that the hairdressing and beauty treatment sector plays a substantial role in the UK economy, both in terms of revenue generation and employment opportunities.
In the USA, around 38% of women reported that they have less hair now than they ever had before, thus driving the market for hair extensions.
The statistic that around 38% of women in the USA reported having less hair now than they ever had before suggests a significant portion of women are experiencing hair loss or thinning. This phenomenon is likely driving the market for hair extensions as individuals seek alternative solutions to enhance their hair volume and appearance. The demand for hair extensions can be attributed to the desire for thicker and longer hair, potentially stemming from societal beauty standards or individual preferences. Understanding the prevalence of hair loss concerns among women can inform the beauty industry in meeting the demand for products and services tailored to addressing these specific needs.
The online selling segment of hair extensions is projected to exhibit a CAGR of 8.9% from 2021 to 2028.
This statistic indicates that the online selling segment of hair extensions is expected to experience a Compound Annual Growth Rate (CAGR) of 8.9% from 2021 to 2028. This growth rate suggests that the online sales of hair extensions are projected to increase by an average of 8.9% per year during this period. The strong CAGR forecast implies a growing demand for hair extensions through online platforms, potentially fueled by factors such as increasing e-commerce popularity, changing consumer preferences, and the convenience of online shopping. Businesses operating in this segment may need to capitalize on this trend by leveraging digital marketing strategies, enhancing online customer experiences, and expanding their product offerings to meet the rising demand for hair extensions in the online marketplace.
Synthetic hair extensions segment is projected to reach USD 1.41 Billion by 2028.
The statistic indicates that the synthetic hair extensions segment is forecasted to experience significant growth and reach a market value of USD 1.41 billion by the year 2028. This projection suggests a growing demand for synthetic hair extensions in the market, likely driven by factors such as changing fashion trends, increased focus on personal grooming and appearance, and the popularity of hair styling among consumers. The expected growth in this segment highlights the potential opportunities for businesses operating in the synthetic hair extensions industry to capitalize on the expanding market and generate substantial revenue in the coming years.
Market research shows that the demand for wigs and hair extensions made of human hair is increasing in Africa at a pace of 40% per year.
The statistic indicates that there has been a significant surge in the demand for wigs and hair extensions made of human hair in Africa, with a growth rate of 40% per year. This points towards a rapidly expanding market for these products on the continent. The increasing popularity of wigs and hair extensions made of human hair could be driven by evolving fashion trends, cultural preferences, or the desire for high-quality and natural-looking hair products. Understanding this trend is crucial for businesses operating in the hair industry to capitalize on the growing market opportunities in Africa and adapt their product offerings to meet the rising demand for these specific types of hair products.
The US hair extension industry is expected to witness substantial growth over the forecast period and reach USD 1.79 Billion by 2027.
This statistic implies that the hair extension industry in the United States is projected to experience significant expansion in the coming years, with an estimated value of USD 1.79 billion by the end of 2027. This growth forecast suggests that there is a growing demand for hair extensions among consumers in the US market, likely driven by changing trends, fashion influences, and beauty standards. The increase in market value indicates opportunities for businesses within the hair extension industry to capitalize on this growth potential and cater to the evolving needs of customers. Overall, this statistic highlights a positive outlook for the industry and suggests a thriving market environment ahead.
The US has the most significant share in the hair extension market with more than 70% of the human hair creates a benchmark in the global business.
This statistic indicates that the United States holds a dominant position in the global hair extension market, accounting for over 70% of the human hair market share. This significant share suggests that the US sets the standard and serves as a key player in the hair extension industry worldwide. The data highlights the strong demand for hair extensions in the US market and underscores the country’s influence on trends and business practices within the global hair extension sector. The high market share also indicates the potential for growth and innovation within the US hair extension industry, making it a crucial market to watch for future developments in the sector.
The rise of social media influencers and celebrity endorsements increase the hair extension market rate by 9.7% in the forecast period of 2020 to 2027.
The statistic indicates that the hair extension market rate is expected to increase by 9.7% during the period from 2020 to 2027, due to the growing influence of social media influencers and celebrity endorsements. This suggests that the promotion and endorsement of hair extensions by popular figures on social media platforms and in the entertainment industry are driving consumer demand and boosting market growth. The ability of influencers and celebrities to reach large audiences and influence consumer purchasing decisions is likely contributing to the overall expansion of the hair extension market during the forecast period.
The most popularly used hair extensions are real human hair (68%), while 42% prefer synthetic hair.
The statistic indicates that real human hair is the most popular choice for hair extensions, with 68% of individuals opting for this type. This suggests a preference for natural, high-quality hair that closely resembles one’s own, offering a more seamless and authentic look. On the other hand, 42% of individuals prefer synthetic hair extensions, which may be chosen for their affordability, variety of styles, and lower maintenance requirements. Overall, the data highlights the significant majority preference for real human hair extensions in the market, reflecting a desire for premium quality and a more natural appearance among consumers.
Conclusion
By analyzing the comprehensive statistics presented in the Hair Extensions Industry, it is evident that this market sector is experiencing significant growth and is poised for further expansion in the coming years. With changing beauty trends and increasing consumer demand for customizable hair solutions, businesses in the hair extensions industry have ample opportunities to thrive and innovate. It is important for industry players to stay informed about these key statistics to make informed decisions that will drive success in this competitive market landscape.
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