Welcome to our blog post about the wig industry. Wigs have been around for centuries, and the industry continues to grow and evolve with the times. In this post, we’ll take a look at some of the most interesting statistics about the wig industry, from sales figures to consumer trends.
We’ll also explore the potential impact of new technologies on the industry, and how the industry is adapting to changing consumer needs. So, if you’re interested in learning more about the wig industry, read on.
Wig Industry: The Most Important Statistics
The global human hair wigs and extensions market is expected to grow at a CAGR of 15.46% between 2023 and 2028, making it the largest segment by hair type.
The global cosplay costumes and wigs market was valued at USD 35.20 billion in 2022 and is expected to grow at a CAGR of 14.7% to reach USD 80.85 billion by 2028.
Wig Industry Statistics Overview
The global hair wigs and extensions market size is expected to grow at a CAGR of 8.0%, reaching USD 12.27 billion in revenue in 2030.
This growth can be attributed to the prevalence of hair-related problems and the increase of the overall beauty and personal care industry during the COVID-19 lockdown.
The global wig market is expected to more than double in size by 2032, with Africa and the US making up the largest market share.
This statistic is important for wig industry stakeholders because it provides insight into the future of the wig market, which is expected to grow significantly in the next decade. It also shows the current market share of the two largest markets, Africa and the US, which can help stakeholders better understand the current landscape and plan for future growth.
North America accounts for 40.72% of the global wig and extension market, valued at USD 3.16 billion as of 2022, with customers aged 35-44 using wigs for functional purposes and customers aged 25 or below using wigs for leisure.
This information can be used by wig and extension manufacturers to better understand their target market and to create products that meet the needs of their customers.
The US wig & hairpiece stores industry is expected to reach $371.1m in 2023 with a 1.4% growth rate.
The increasing number of adults aged 50 and older in the US represents a potential opportunity for the industry, as the demand for wigs and hairpieces is likely to grow.
The global human hair wigs and extensions market is expected to grow at a CAGR of 15.46% between 2023 and 2028, making it the largest segment by hair type.
The demand for human hair wigs and extensions is growing, which means that manufacturers can benefit from sourcing human hair at better prices. This could lead to increased profits for wig manufacturers.
The human hair segment dominates the global wig industry with a 66.1% revenue share in 2021, while the synthetic hair segment is anticipated to experience a significant increase in CAGR from 2022 to 2030.
India is the largest exporter of raw human hair worldwide, with exports amounting to around USD 165 million, followed by Hong Kong with USD 4.1 million.
In 2020, the top exporters of human hair were Hong Kong, Malaysia, India, Burma, and Singapore, with the fastest growth in exports occurring in Malaysia, Hong Kong, the United States, Pakistan, and Indonesia.
Knowing which countries are the top exporters of human hair can help wig manufacturers and retailers make informed decisions about where to source their materials.
The global cosplay costumes and wigs market was valued at USD 35.20 billion in 2022 and is expected to grow at a CAGR of 14.7% to reach USD 80.85 billion by 2028.
This growth is driven by the increasing demand for cosplay events and conventions, and the market is expected to dominate the Halloween theme segment. It indicates that the wig industry has a promising future, and businesses should take advantage of this growth opportunity.
The global cosplay costumes and wigs market was valued at USD 18.23 billion in 2022, with North America, Europe, and Japan cumulatively holding 74% of the market share.
Japan’s cosplay costumes and wigs market was valued at USD 6.95 billion in 2022, and the offline sales in Japan are expected to grow with a CAGR of 13.67% between 2023 and 2028.
The African American community is the largest consumer group of wigs and hair extensions, making up 70% of the market.
This speaks to the importance of recognizing the needs and wants of this demographic and catering to them in order to remain competitive in the industry.
According to a report by Statista, 38.4% of respondents in the U.S. consider buying wigs and hair extensions at a specialist store.
A significant portion of the population is interested in purchasing these products, which is a positive sign for the wig industry. It suggests that there is a large potential customer base for wig and hair extension retailers, and that the industry is likely to remain strong in the future.
In 2019, the revenue of wigs, hairpieces, and hair extensions in the United States amounted to approximately $1.3 billion.
The wig industry is a major player in the US economy, generating billions of dollars in revenue each year. This statistic is an important indicator of the industry’s success and provides valuable insight into the current state of the wig industry.
The United States has an estimated 29.2% market share of the global wig and hair extensions industry.
This highlights the country’s impressive market share and its importance in the industry. This statistic is a valuable insight for anyone looking to gain a better understanding of the wig and hair extensions industry.
The market for lace wigs is expected to register a CAGR of 9.89% during the forecast period of 2021-2028.
The market for lace wigs is expected to experience a significant increase in demand over the next seven years. This is an important piece of information for anyone interested in the wig industry, as it provides insight into the potential for success in the industry.
In 2021, the average price for a human hair wig is around $186.
This is an important indicator of the industry’s overall health, as it shows the average price of a wig and how it has changed over time. This information can be used to inform decisions about pricing, production, and marketing strategies, as well as to track trends in the industry. Additionally, it can be used to compare the prices of different wig types and brands, helping consumers make informed decisions when shopping for wigs.
The estimated number of professional hair salons in the United States focusing on wigs and hair extensions is around 87,000.
With 87,000 professional hair salons dedicated to this craft, it’s clear that wigs and hair extensions are a major part of the beauty industry. This statistic is a powerful indicator of the importance of wigs and hair extensions in the lives of many Americans.
In 2021, the average price of a full lace wig is around $152.
This is an important indicator of the overall health of the industry, as it can be used to gauge the demand for wigs and the cost of production. Additionally, it can be used to compare prices across different wig manufacturers and retailers, allowing consumers to make informed decisions when purchasing a wig.
The medical wig market is expected to grow at a CAGR of 6.5% during the period of 2018-2025.
Te wig industry is a viable and growing sector, and it is worth exploring further for those interested in the industry.
Wigs and hairpieces stores in the United States generated a total revenue of $361 million in 2021.
Despite the challenges of the pandemic, the industry has been able to remain profitable and continue to grow. This is a great indication of the potential of the wig and hairpiece industry and its ability to adapt to changing market conditions.
In 2019, the average expenditure of US households on wigs and curling machines was about $37.
US households were willing to invest in wigs and curling machines, suggesting that the wig industry was thriving. This statistic is an important piece of evidence for anyone looking to gain insight into the wig industry’s performance in 2019.
In 2020, the market for men’s wigs and toupees was worth over $388 million.
The industry is thriving and that there is a large demand for these products. This is an important indicator of the industry’s health and potential for growth, making it an essential piece of information for anyone interested in the wig industry.
China is the leading exporter of wigs globally, with an export value of about $3.3 billion in 2020.
This highlights the country’s dominance in the global wig market, with an export value that is far greater than any other country. This statistic is a clear indication of the importance of the wig industry in China, and its potential to continue to grow and expand in the future.
In 2021, the market for custom wigs and toppers is estimated to be worth over $1 billion.
The market for custom wigs and toppers is growing rapidly and is expected to reach a staggering $1 billion in 2021. This is a clear indication that the wig industry is a lucrative and profitable venture, and one that is worth investing in.
Conclusion
In conclusion, the wig industry is a rapidly growing market with a wide range of potential customers. The global market size is estimated to be around $14 billion, and the industry is expected to continue to grow in the coming years.
With the increasing demand for wigs, it is important for wig makers to stay up-to-date on the latest trends and industry statistics in order to remain competitive. By understanding the current trends and statistics, wig makers can better position themselves in the market and capitalize on the growing demand for wigs.
References
1 – https://www.researchandmarkets.com/reports/5665147/hair-wigs-and-extensions-market-size-share-and
2 – https://www.factmr.com/report/4378/hair-wig-market
3 – https://www.arizton.com/market-reports/hair-wigs-and-extension-market-report-2024
4 – https://www.ibisworld.com/industry-statistics/market-size/wig-hairpiece-stores-united-states/
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6 – https://www.grandviewresearch.com/industry-analysis/hair-wigs-extensions-market-report#:~:text=The%20global%20hair%20wigs%20and,8.0%25%20over%20the%20forecast%20period.
7 – https://www.statista.com/statistics/960921/global-leading-exporters-of-human-hair/
8 – https://oec.world/en/profile/hs/human-hair?redirect=true
9 – https://www.arizton.com/market-reports/cosplay-costumes-and-wigs-market
10 – https://www.prnewswire.com/news-releases/cosplay-costumes–wigs-market—global-outlook–forecast-2023-2028-rising-anime–gaming-industry-bolsters-growth-301765998.html
11 – https://www.marketwatch.com
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14 – https://www.statista.com
15 – https://www.spendedge.com
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