The hair weave industry is a rapidly growing market, with global sales estimated to reach $6 billion by 2026. According to MarketResearch.biz, the global hair weave market was valued at $5.4 billion in 2019 and is projected to grow at a CAGR of 4.9% during the forecast period 2020-2026. North America dominated the industry in 2019, accounting for 38.4% of total revenue generated from this sector worldwide that year; however, it is expected that Asia Pacific will experience significant growth over the next few years due to increasing demand for natural hair weaves and extensions among consumers there.
Human hair accounts for more than 80% of all sales within this sector while synthetic fibers make up 18%. Additionally, online channels are anticipated to witness rapid growth as well with an estimated 5.8% CAGR through 2024 according African American women account for 70 percent of spending on wigs and extensions including those made from human or synthetic materials – making them one of largest consumer groups driving demand within this space globally. The COVID-19 pandemic has also had an impact on overall spending trends across many industries but particularly so when it comes specifically related products such as these which have seen increased interest since its onset last year resulting in job creation opportunities around 150 thousand jobs worldwide.
This statistic is a testament to the immense size and scope of the hair weave market. It demonstrates the sheer magnitude of the industry and its potential for growth. It also serves as a reminder of the importance of the hair weave industry to the global economy. This statistic is a valuable insight into the current state of the hair weave industry and provides a useful benchmark for future growth.
North America dominated the hair weave industry in 2019, with a market share of 38.4%.
This statistic is a testament to the power of North America in the hair weave industry in 2019. It shows that the region was able to capture a significant portion of the market, indicating that it is a major player in the industry. This statistic is important for anyone looking to gain insight into the hair weave industry, as it provides a clear indication of the current state of the market.
Hair Weave Industry Statistics Overview
Human hair accounts for more than 80% of hair weave sales.
This statistic is a testament to the popularity of human hair in the hair weave industry. It shows that the majority of customers prefer human hair over synthetic hair when it comes to hair weave products. This statistic is an important indicator of the current trends in the hair weave industry and can be used to inform decisions about product development and marketing strategies.
The most significant growth in the hair weave market is expected to be seen in the Asia-Pacific region.
This statistic is a telling indication of the potential for the hair weave market in the Asia-Pacific region. It suggests that the region is ripe for investment and growth, and that the industry is likely to experience a surge in activity in the near future. This is an important piece of information for anyone interested in the hair weave industry, as it provides insight into where the industry is headed and where the best opportunities for success may lie.
Natural hair weaves are anticipated to grow at a CAGR of 4.1% during 2020-2026.
This statistic is a key indicator of the potential growth of the hair weave industry. It provides insight into the future of the industry, showing that it is expected to experience a steady increase in demand over the next few years. This information can be used to inform decisions about investments, marketing strategies, and other business decisions related to the hair weave industry.
Online sales channels are projected to witness the fastest growth in the hair weave market, with a CAGR of 5.8%.
This statistic is a crucial indicator of the potential of the hair weave market. It shows that online sales channels are expected to be the most dynamic and profitable area of the industry, with a CAGR of 5.8%. This means that businesses looking to capitalize on the hair weave market should consider investing in online sales channels to maximize their profits.
Brazil is one of the leading exporters of hair for hair weaves, with approximately 90 tons of hair exported in 2018.
This statistic is a testament to the booming hair weave industry in Brazil, highlighting the country’s success in becoming one of the leading exporters of hair for hair weaves. With 90 tons of hair exported in 2018, it is clear that the Brazilian hair weave industry is thriving and has become a major player in the global market.
African Americans make up around 70% of the consumer base for hair weave products in the United States.
This statistic is a powerful indicator of the importance of the Hair Weave Industry to African American consumers. It speaks to the fact that African Americans are a major driving force behind the industry, and that the industry is an important part of the African American community. This statistic is a reminder that the Hair Weave Industry is an important part of the African American economy, and that it should be supported and celebrated.
The market for hair weaves in Europe is projected to grow at a CAGR of 6.1% during 2020-2025.
This statistic is a crucial indicator of the potential of the hair weave industry in Europe. It shows that the market is expected to expand at a steady rate over the next five years, indicating that there is a strong demand for hair weaves in the region. This is an important piece of information for anyone interested in the hair weave industry, as it provides an insight into the potential of the industry and the opportunities it presents.
In 2019, the hair extension industry (including hair weaves) was responsible for creating over 150,000 jobs worldwide.
This statistic is a testament to the immense impact the hair extension industry has had on the global economy. It is a clear indication of the industry’s ability to create jobs and provide economic opportunities for people around the world. It is a powerful reminder of the importance of the hair weave industry and its potential to continue to grow and create even more jobs in the future.
In the United States, the hair weave industry is estimated to have over 9,000 businesses.
This statistic is a testament to the sheer size and scope of the hair weave industry in the United States. It speaks to the immense popularity of hair weave products and services, and the potential for businesses to capitalize on this lucrative market. It also highlights the potential for growth in the industry, as there is still room for more businesses to enter the market and take advantage of the demand.
On average, a pack of hair weave costs around $95 in the United States.
This statistic is a key indicator of the cost of hair weave in the United States, providing insight into the financial implications of the Hair Weave Industry. It is an essential piece of information for anyone looking to understand the market and the potential for profit.
The hair weave industry has created approximately $190 million in sales of hair care products.
This statistic is a testament to the success of the hair weave industry, demonstrating the immense potential of the market. It shows that the industry is thriving and that there is a large demand for hair care products. This statistic is a great indicator of the industry’s growth and potential for further expansion.
Around 70% of overall spending on wigs and extensions, including hair weaves, comes from African heritage women.
This statistic is a powerful indicator of the impact African heritage women have on the hair weave industry. It shows that the industry is heavily reliant on the spending of African heritage women, and that their patronage is essential to the success of the industry. This statistic is a testament to the importance of African heritage women in the hair weave industry, and it is a reminder of the need to recognize and support their contributions.
Hair weaves are a part of the larger hair extension market, which is likely to grow at a CAGR of 5% globally till 2028.
This statistic is a crucial indicator of the potential of the Hair Weave Industry. It suggests that the industry is likely to experience steady growth over the next decade, making it an attractive investment opportunity for those looking to capitalize on the trend. With a CAGR of 5%, the Hair Weave Industry is poised to become an increasingly lucrative sector in the years to come.
Conclusion
The hair weave industry is a rapidly growing market, with the global value estimated to reach $6 billion by 2026. North America dominated the industry in 2019, accounting for 38.4% of total sales. Human hair weaves account for more than 80% of all sales and are expected to grow at a CAGR of 4.1%. The Asia-Pacific region is projected to experience significant growth due to increasing demand from African heritage women who make up 70% of overall spending on wigs and extensions including hair weaves.
Online channels are also anticipated to witness rapid growth with a CAGR 5.8%, while synthetic hair accounted for 18.78% share in 2018 globally as per market reports estimates . Overall, this indicates that there will be an increase in job opportunities within the sector over time as well as increased revenue generated through product sales worldwide
References
0. – https://www.grandviewresearch.com
1. – https://www.fairfieldmarketresearch.com
2. – https://www.businesswire.com
3. – https://www.prnewswire.com
4. – https://www.globenewswire.com
5. – https://www.statista.com
6. – https://www.researchandmarkets.com
7. – https://www.bbc.com
8. – https://www.mintel.com
9. – https://www.refinery29.com
10. – https://www.forbes.com
11. – https://www.reportlinker.com
12. – https://www.marketresearch.biz
13. – https://www.ibisworld.com
