False Hair Products Market to Register a CAGR of 4.6% Between 2022 and 2030

The false hair products market size was valued at US$ 8,484.19 million in 2022 and is expected to reach US$ 12,115.21 million by 2030; it is estimated to register a CAGR of 4.6% from 2022 to 2030. The false hair products market growth can be attributed to the rising adoption of self-grooming products. The false hair products market is highly competitive, owing to many regional and global players. Players compete based on product quality, product differentiation, and price. Market players are adopting different strategies to stand out as strong competitors.

Based on product type, the false hair products market is segmented into hair extension, hair wig, and hair pieces. The hair extension segment is expected to register the highest CAGR during the forecast period. Hair extensions have become a revolutionary solution in the beauty and fashion world. With the ability to instantly add length, volume, and even highlights to natural hair, they offer a versatile way to achieve a variety of looks.

The market for the hair extensions segment is experiencing rapid growth due to the increasing demand for quick and temporary hairstyle changes. Social media platforms, beauty influencers, and celebrities regularly showcase different hairstyles, inspiring individuals to experiment with their appearance. Moreover, hair extensions cater to those with shorter hair and to people with fine or thin hair seeking additional volume. As the quality and variety of extensions continue to improve and people embrace the idea of using extensions as a means of creative expression, the false hair products market for the hair extensions segment is expected to expand in the coming years.

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The global false hair products market is segmented into five central regions: North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. In 2022, North America region accounted for the largest share of the global false hair products market. The false hair products market in North America is segmented into the US, Canada, and Mexico. The market is growing due to the increasing demand for trending hair products such as wigs, extensions, etc. and the rising prevalence of hair loss issues due to aging, stressful schedules, and medical conditions.

According to the American Academy of Dermatology Association, the common cause of hair loss is hereditary-patterned baldness, also known as androgenetic alopecia. In this type of hair loss, hair thinning occurs first, and then total hair loss develops on some areas of the scalp. This condition has affected ~80 million Americans-50 million men and 30 million women. Rising hair loss issues among Americans have driven the demand for false hair products across North America. Therefore, the region accounted for a remarkable share of the global false hair products market in 2022.

Impact of the COVID-19 Pandemic on the False Hair Products Market

During the COVID-19 pandemic, the shutdown of manufacturing units and distribution facilities, online and offline channels, declined the demand for hair extension, which, in turn, restrained the false hair products market growth. During the initial stages of the COVID-19 pandemic, hair extension manufacturers were forced to scale back or halt production temporarily. However, businesses gained ground as the governments of various countries eased out the previously imposed restrictions.

Moreover, many sections of the beauty and cosmetics industry witnessed growth in demand worldwide post-recovery. As hair extension production regained pre-pandemic figures and is growing continuously, the market is expected to expand significantly during the forecast period.

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The report includes the segmentation of the global false hair products market as follows:

The global false hair products market is segmented on the basis of product type, material, end user, distribution channel, and geography. The false hair products market, based on product type, is segmented into hair extension, hair wig, and hair pieces.

Based on material, the false hair products market is bifurcated into human hair and synthetic hair. Based on end user, the market is segmented into men, women, and kids. Based on distribution channel, the market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. By geography, the global false hair products market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The North America false hair products market is further segmented into the US, Canada, and Mexico.

The Europe false hair products market is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The false hair products market in Asia Pacific is further segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in the Middle East & Africa is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The South & Central America false hair products market is further segmented into Brazil, Argentina, and the Rest of South & Central America.

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This release was published on openPR.