Hair Extensions Market Size Projected to Surge $5.70 Billion Growth by 2033, Exhibit a CAGR of 5%

The global hair extensions market size is anticipated to grow from USD 3.50 billion to USD 5.70 billion in 10 years. The market will experience rapid growth due to the rising accessibility of hair extensions during the forecast period.

Newark, April 23, 2024 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 3.50 billion in 2023 global hair extensions market will reach USD 5.70 billion in 2033. Hair extensions are sections of hair affixed to natural hair to give it more length, volume, or colour. Human hair or synthetic fibres are used to make them. Human hair extensions are more aesthetically pleasing and adaptable. The steps involved in processing human hair are locating, classifying, cleansing, and treating it according to requirements. In addition to being used as hair loss remedies, extensions are used in fashion, entertainment, and personal settings. There are various types of extensions, including sew-ins, clip-ins, tape-ins, and fusion extensions. Salons, beauty supply stores, and internet merchants are among the establishments that offer extensions, serving a wide range of customers. Due to their ability to enable swift and dramatic hairdo changes, extensions are essential to the beauty and fashion industries.

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Report Coverage Details

Report Coverage Details
Forecast Period 2024–2033
Base Year 2023
Market Size in 2023 USD 3.50 Billion
Market Size in 2033 USD 5.70 Billion
CAGR 5%
No. of Pages in Report 237
Segments Covered Type, Application and Distribution Channel
Drivers The growing social media influence
Opportunities Increased accessibility to hair extensions

Key Insight of the Global Hair Extensions Market

North America will dominate the market during the forecast period.

Because of their comparatively large disposable income, consumers in North America can afford to spend money on hair extensions and other beauty procedures and products. The willingness to spend money on one’s looks and personal grooming increases the acceptance of extensions in the area. The fact that hair extensions are readily available and accessible in North America is one factor in their widespread use. Customers may easily buy and try out various extensions because they are easily accessible through internet merchants, beauty supply stores, salons and speciality boutiques. The area gains from constant innovation and developments in extension technology, as top suppliers and manufacturers raise the calibre of their products to satisfy customers. The celebrity and influencer culture in North America is a major factor in promoting hair extensions.

In 2023, the clip-in hair extensions segment dominated the market with the largest market share of 40% and revenue of 1.40 billion.

The type segment is divided into clip-in hair extensions, tape-in hair extensions, fusion and pre-bonded hair extensions and others. In 2023, the clip-in hair extensions segment dominated the market with the largest market share of 40% and revenue of 1.40 billion.

In 2023, the female segment dominated the market with the largest market share of 86% and revenue of 3.01 billion.

The application segment is divided into female and male. In 2023, the female segment dominated the market with the largest market share of 86% and revenue of 3.01 billion.

In 2023, the online segment dominated the market with the largest market share of 54% and revenue of 1.89 billion.

The distribution channel segment is divided into offline and online. In 2023, the online segment dominated the market with the largest market share of 54% and revenue of 1.89 billion.

Advancement in market

With the newfound revenue, HairOriginals plans to expand its presence in India by opening new, cutting-edge experience facilities in 25 of the country’s most desirable cities. HairOriginals, a company founded in 2019 by Jitendra Sharma, sells DIY wigs and extensions produced from actual human hair that has been ethically obtained. The brand presently serves consumers in 12 Indian cities, including Bengaluru, Chennai, Mumbai, and Gurugram, through its experience centres.

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Market Dynamics

Driver: The increasing impact of social media.

Millions of individuals are introduced to the potential of utilizing hair extensions to improve their hair by celebrities and influencers with large fan bases on social media sites like Instagram, YouTube, and TikTok. When these influencers post pictures of their glitzy hairstyles that they’ve attained with extensions, it produces aspirational material that encourages fans to have the same appearance. In addition, the production of tutorials and how-to instructions facilitates the installation and style of extensions, thereby increasing their accessibility to a broader user base. The usage of hair extensions is further legitimized by celebrity and influencer endorsements and partnerships with hair extension manufacturers, which also impact consumer purchasing decisions. Furthermore, the public display of celebrities sporting extensions at red-carpet premieres and other high-profile events defines trends and motivates admirers to adopt similar looks. As a result, social media and celebrity endorsements raise consumer interest in and acceptance of hair extensions, increasing demand for them.

Restraints: The expense of maintenance.

Frequent trips to the salon are frequently required for upkeep to adjust, tighten, or replace extensions as needed. With natural hair, these expenses would not be necessary otherwise. Furthermore, and this is a more costly point, specific hair care products are necessary to maintain the longevity and quality of extensions. Periodically, replacement extensions could also be needed. Consequently, consumers may be deterred from investing in extensions due to the time, effort, care, and costs involved in maintaining them, which could impede the market’s growth.

Opportunities: Greater availability of hair extensions.

Instructions, evaluations, and recommendations regarding different types of extensions, installation techniques, and upkeep advice are available on the internet and social media platforms. By sharing their personal experiences with extensions, influencers and beauty aficionados gain followers’ confidence and offer insightful commentary. Salon services make extensions more accessible to customers by providing expert installation and customized advice. Online merchants offer a large selection of extension products at various price ranges, bringing convenience and choice to customers. Prices have become more reasonable due to improvements in manufacturing techniques, and customers can now customize extensions to suit their tastes. The beauty business has become more accessible due to various factors, including knowledge sharing, social media influence, salon services, internet shopping, affordability, and customization possibilities. This has helped to drive market expansion.

Challenges: Health concerns.

Improper installation or maintenance can damage natural hair, including breakage, thinning, or traction alopecia. It may also cause discomfort or tension on the scalp, resulting in headaches or soreness. Additionally, individuals may experience allergic reactions to adhesives or chemicals used in certain extension methods, leading to itching or inflammation. Improper hygiene practices or failure to clean extensions regularly can increase the risk of infections on the scalp. Therefore, the potential disadvantages, like damage to natural hair, discomfort, allergic reactions, limited styling options, and the risk of infections, will hamper the market’s growth.

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Some of the major players operating in the global hair extensions market are:

• Balmain Hair Couture
• Beauty Industry Group Inc
• BELLAMI hair
• Evergreen Products Group Limited
• Godrej
• Hair loss
• Hairlux
• Klix Hair Extensions
• Locks And Bonds
• Salonlabs Exports India Pvt Limited

Key Segments covered in the market:

By Type

• Clip-In Hair Extensions
• Tape-In Hair Extensions
• Fusion and Pre-Bonded Hair Extensions
• Others

By Application

• Female
• Male

By Distribution Channel

• Offline
• Online

By Region

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

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About the report:

The market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter’s five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

About The Brainy Insights:

The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirements whether they are looking to expand or planning to launch a new product in the global market.

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