- Hair extension market is set to thrive moderately in the foreseen future.
- The influence of the entertainment industry coupled with the beauty standards set by social media platforms is influencing the growth of the hair extension market.
- North America holds a significant share of the market and is likely to retain it in the foreseeable future.
As per Market Research Future (MRFR)’s latest analysis, the Global Hair Extension Market is set to thrive moderately in the foreseeable future. The effectiveness offered by hair extension for adding length and breadth to natural hair is likely to accelerate revenue creation for the market participants.
The high costs associated with wigs and hair transplants have paved the way for the adoption of hair extension in the recent years. Additionally, the large-scale prevalence of alopecia, receding hairline, etc. is likely to fuel demand for hair extension over the next couple of years.
The key players are focusing on the expansion of their product portfolios for gaining traction. The development of hair extensions that serves the purposes of coloring, volumizing, etc. without damaging the natural hair is the key area of focus for the market participants. Additionally, endeavors are directed towards the innovation of novel technologies for convenient application of the extensions. These growth strategies are poised to have a favorable impact on the expansion of the global market in the upcoming years.
Hair extensions are gaining popularity among the people owing to the impact of the prevailing celebrity culture and the requirement of little maintenance. It is likely to catapult the market on an upward trajectory in the foreseeable future. Furthermore, an upsurge in demand for beard’s hair extension is another important factor which is aiding market proliferation. The increasing demand from the male customers for beard and hair extension is projected to aid market proliferation over the next couple of years.
The influence of the entertainment industry coupled with the beauty standards set by social media platforms is influencing the growth of the hair extension market positively. However, the complicated manufacturing process of the hair extensions is poised to hold the market expansion in the forthcoming years.
Global Market for Hair Extension – Segmental Analysis:
MRFR’s report offers a detailed segmental analysis of the global market based on type and application. By type, the market has been segmented into synthetic hair extensions and human hair extensions. By application, the market is segmented into male and female.
By region, the global hair extension market has been segmented into North America, Asia Pacific, Europe, and the Rest of the World. North America holds a significant share of the market and is likely to retain it in the foreseeable future. The increasing demand for hair extensions from the African-American population, especially teenagers, is one of the primary factors responsible for driving the growth of the regional market. Furthermore, the innovations in the product portfolios offered is projected to expand the customer base in the region over the next couple of years.
Europe is expected to remain a lucrative market for hair extension in the upcoming years. The demand for hair extension is being driven by the celebrity culture prevailing in the region. Many prominent celebrities have started speaking in favor of hair extensions, which is poised to catalyze the growth of the regional market.
Asia Pacific is thriving considerably as it encompasses eminent exporters of human hair for the manufacturing of hair extensions. The rising demand from the fast-developing economies in the region coupled with increasing disposable income is prognosticated to open avenues of growth opportunities for the market participants. Additionally, the large-scale prevalence of hair loss problems, receding hairline, high costs associated with hair transplant, etc. is likely to fuel demand for hair extension in the regional market. Meanwhile, the Rest of the World exhibits strong opportunities for growth for the hair extension market.
Only $1/clickSubmit Your Ad Here