Multi-Billion Opportunity in the Hair Wigs and Extensions Industry - Arizton


Posted March 10, 2023 by Jessica_Shirley

According to Arizton's latest research report, the hair wigs and extensions market will grow at a CAGR of 16.06% during 2022-2028.

 
The 3D printing technology of hair wigs has developed in a way that creates thousands of hair-like structures in a few minutes. The 3D-printing technology has taken wig-making to new levels. In the 3D printing of hair wigs, a mold of the customer's head is taken to accurately map the areas with hair loss. The 3D image of the scalp is used as a template to create a micro-thin "second scalp" on a 3D printer.

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The micro-thin, breathable bio-polymer material used in these wigs is antifungal and antibacterial and even adapts to the person's body temperature. Also, these hair wigs are appropriate for partial or full hair replacement. Researchers in the Massachusetts Institute of Technology's Media Lab discovered techniques to re-create these patterns while reducing the exceptional amount of design time that's usually required. The usual process is time-consuming and led the research team to create the new platform named Cillia, which enabled it to perform tasks that normally took hours in minutes. Great Lengths is the leading global manufacturer of 100% natural human hair extensions with an established presence among the biggest courtiers such as Great Britain, Italy, France, Austria, Germany, Scandinavia, Holland, Belgium, Greece, Spain, Portugal, Switzerland, Luxembourg, the US, Canada, Brazil, Australia, New Zealand, Russia, Hong Kong, the UAE, South Africa, the Caribbean, Japan, Mexico, and Thailand.

North America dominates the global hair wigs and extensions market with a share of 40.72%; the industry in North America was valued at USD 3.16 billion in 2022. US-based manufacturers have always experienced high demand for hair wigs and extensions of human hair and synthetic fibers. Historically, the demand for hair wigs and extensions has been influenced by hair salons and beauty centers. Presently, the primary demand for hair wigs comes from recommendations by hairstylists. The hair wigs and extensions market in North America can also be addressed based on age groups. Customers who are less than 25 years use hair wigs and extensions mainly for leisure and sometimes for functional uses such as to cover their hair loss. Consumers, both men, and women, in the age group of 35 to 44 years, account for the largest industry share.

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According to data from medical associations, men in the US, the UK, and Asia start showing visible signs of hair loss and baldness as early as 21, 30, and 40 years, respectively. The global hair extensions industry is expanding at an incredible rate, driven by the need to mimic celebrity hairstyles seen in magazines and movies.

APAC is the largest supplier of human hair that is used in the manufacture of wigs and extensions. Moreover, with the largest population in the world, APAC sources enough hair to maintain its position among global hair suppliers. The increasing demand for hair products in APAC is influencing manufacturers to set up production facilities in Asian countries, mainly China and India, and offer hair wigs and extensions at lower prices than the international markets. APAC's hair wigs and extensions market is growing at a CAGR of 17.32% during the forecast period.

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Issued By Arizton Advisory & Intelligence
Country United States
Categories Advertising , Fashion , Lifestyle
Tags hair and wigs extension , market research , market updates , market trends , lifestyle , market research reports , hair and wigs market , industry insights
Last Updated March 10, 2023