Hair Extension Market

Hair Extension Market Outlook for (2023 to 2033)

The hair extension market is valued at USD 2,721.8 million in 2023. In 2022, the valuation was USD 2,573.9 million. The market is projected to increase at a CAGR of 6.3% from 2023 to 2033. By the end of the forecast period, the value of the hair extension market is expected to reach USD 5,000.2 million.

Consumption Analysis in the Hair Extension Market

• With the betterment of lifestyle comes the need for maintaining and improving appearances. The image-conscious population is turning toward hair extensions to improve hair appearance.
• There has been an all-round increase in the demand for grooming items, including products related to hair. Thus, the demand for hair care is on the upswing, benefiting the hair extension market.
• For some consumers, hair loss is an unpreventable occurrence. Customers suffering from receding hairlines, alopecia, and other natural hair-related problems are turning toward hair extensions to maintain appearances.
• Concerns related to the high cost of hair extensions can slow down their sales. However, affordable hair extensions are becoming more widely available.
• Hair extensions are not sought just to cover up cases of baldness or receding hairlines. Consumers are seeking out hair extensions that offer unique characteristics like wavy, curly, and long hair.

Attributes	Details
Hair Extension Market Value, 2023	USD 2,721.8 million
Projected Hair Extension Market Value, 2033	USD 5,000.2 million
Value-based CAGR, 2023 to 2033	6.3%

Historical Performance of the Hair Extension Market

The value of the hair extension market in 2018 was USD 2,154.1 million. The market progressed at a reasonable CAGR of 4.6% during the historical period from 2018 to 2022.

The value of appearance, including hair appearance, continued to grow during the historical period. However, the pandemic halted the growth of the market. Consumers were forced to sit at home, and haircare hubs like salons and barbershops were shut down.

Problems were also faced with the supply of raw materials. With the reopening of haircare places and shops, the haircare market started its recovery phase. The hair extension market was valued at USD 2,573.9 million in 2022

Hair Extension Market Valuation, 2018	USD 2,154.1 million
Historical CAGR, 2018 to 2022	4.6%
Historical Market Valuation, 2022	USD 2,573.9 million

Long-Term Analysis of the Hair Extension Market

In 2023, the value of the hair extension market is USD 2,721.8 million. The market is expected to grow at a CAGR of 6.3% during the forecast period from 2023 to 2033.

The growth in the forecast period is set to outpace the growth in the historical period. The need to keep up appearances is still keenly felt among the population. Increasing incidences of hair loss and balding are leading people to take the aid of hair extensions.

The improvement in the spending power of consumers is beneficial to the hair extension industry. Consumers are willing to pay the price for improving hair appearance. The scope of hair extensions is not limited to consumers with hair loss problems.

Consumers are buying different styles of hair extensions, such as wavy hair, thick hair, etc., to enhance appearances. By the end of the forecast period, the hair extension market is predicted to reach USD 5,000.2 million.

Global Hair Extension Market Trends

• Intake of hair restoration drugs is one way to combat hair loss. However, side effects like scabs and itching are turning consumers off hair restoration drugs. Hair extensions are thus being seen as an alternative with no side effects.
• Hair transplantation surgery is another way to combat hair loss. However, the cost of the surgery may be prohibitive to many. In certain cases, the surgery may even cause health complications. Hair extensions are thus viewed as a safer and more affordable alternative.
• Fashion and entertainment industries aid the growth of the hair extension market. Differing hairstyles in fashion also lead consumers to seek out hair extensions to keep up with trends.
• Improvements in product quality are leading to the growth of the hair extension market. Producers are striving to make hair extensions appear more natural.
• The use of colorful hair extensions is an emerging trend in the market. With the diversity in colors, the scope of the market is not just limited to the demand for natural-looking hair.
• Companies in the hair extension industry are seeking the help of celebrity endorsements to grow their product sales. Companies are targeting the young crowd with the aid of fashion models, celebrities, and social media influencers.
• There is a surging demand for Remy hair extensions. Remy hair extensions are perceived as being more authentic because the cuticle is retained in Remy hair. Remy hair extensions are highly preferred in North America.

Category-wise Insights

Consumers Prefer Hair Extensions with a Natural Look

Top Product Type	Natural
Market Share in 2023	59.5%

Natural hair is the dominant product type in the hair extension market. In 2023, natural hair accounts for a share of 59.5% of the market by product type.

Consumers are seeking authenticity when it comes to hair extensions. Thus, natural hair is the leading material type in the market over artificial hair.

Ease of Clip-in Hair Extensions Attracting Consumers

Top Material Type	Clip-in
Market Share in 2023	45.8%

Clip-in hair extensions are popular among consumers. In 2023, clip-in hair extensions hold 45.8% of the hair extension market share by material type.

Clip-in hair extensions are easy to fit as a simple metal clip is attached to the head. Compared to other product types like glue-in and tape-in hair extensions, clip-in hair extensions can be easily used by consumers. Clip-in hair extensions are generally made of natural hair. Thus, clip-in hair extensions have a stronghold on the market.

Country-Wise Analysis

The Asia Pacific and Latin America regions are predicted to show strong growth in the market. However, North America and Europe continue to dominate the market.

The increasing purchasing power in North American and European countries is making consumers responsive to the appeal of hair extensions. The prevalence of fashion trends and influencers is also aiding the growth of the market in the Western world. North American and European consumers are increasingly conscious of appearances to keep up with fashion trends. Remy hair is also a strong point of consumer attention in the two regions.

Presence of Big Brands and Hair Salons Drives Growth of the United States Market

The United States continues to be a major country in the hair extension market. In 2023, the country accounts for 27.7% of the market share.

The rising number of beauty salons, barbershops, and other places is driving the sale of hair extensions in the United States. Big brands such as Great Lengths, Radswan, and Indique Hair also aid the growth of the market in the United States.

Hair Import from Asian Countries is a Growing Trend in Canada

Canada is another North American country where the market flourishes. The Canadian market holds 7.5% of the market share.

Hair import from Asian countries, especially India and Vietnam, is increasing in North America. Hair acquired in Vietnam and India is used as raw material in Canada for producing hair extensions. Thus, the hair extension market is predicted to grow rapidly over the forecast period.

Rising Fashion Trends and Influencer Culture Plays a Pivotal Role in the United Kingdom Market Growth

Europeans seek improvement in appearance. The United Kingdom is the leader in the European hair extension market. In 2023, the United Kingdom accounts for a 6.8% market share.

Rising fashion trends, as exemplified by celebrities and models, are leading to people paying more attention to appearances. Hair appearance is also being focused upon; thus, hair extensions are increasing in popularity throughout the United Kingdom.

Consumers Prefer Premium Natural Hair Extensions in Germany

The hair extension market in Germany holds a market share of 5%. With a fashion-conscious population, there is a rise in demand for various hair extension products, including clip-in extensions, tape-in extensions, and fusion extensions.

In Germany, consumers often look for high-quality, natural-looking hair extensions. They are willing to invest in premium products that offer durability and a seamless blend with their natural hair.

Demand for Colorful and Creative Hair Extensions in China

China has a robust hair extension market, driven by its large population and changing beauty standards. Chinese consumers often look for a wide range of hair extension options, including synthetic and human hair extensions. Trends may vary from natural-looking extensions to more colorful and creative styles.

Competitive Landscape in the Hair Extension Market

Players in the hair extension market are indulging in collaborations. Companies are increasing their market reach by partnering with beauty salons and fashion experts.

The market for hair extensions is highly competitive. Established brands tussle with small-scale enterprises for the consumers’ attention. Start-up culture is evident in the hair extension industry. Several start-ups have started selling hair extensions and have earned a reputable name in the market.

Recent Developments in the Hair Extension Market

• In September 2023, Sasha Colby, star of the popular series RuPaul’s Drag Race, announced the launch of her own line of hair extensions. The hair extensions are in the form of ponytails, and a part of the proceedings are set to be donated to charity.
• Also in September 2023, Hotheads Hair Extensions launched its Premium Sew-In Weft Collection. The extensions are made completely from Remy hair.
• In July 2023, the Girlie Locks brand was launched. The focus of the brand is on providing consumers with colorful hair extensions. The product line includes a box with hair extensions of 24 different colors.
• In May 2022, the hair extension market player Bellami Hair was acquired by fellow American company Beauty Industry Group (BIG). BIG was primarily known for supplying beauty products, but by acquiring Bellami Hair, it entered the hair extension market.

Key Companies in the Hair Extension Market

• BELLAMI Hair
• Godrej
• Great Lengths
• Klix Hair Extension
• Evergreen Products Group Limited
• Balmain Paris Hair Couture
• Beauty industry group
• Qingdao Organic Hair Ltd.
• Hair Dreams
• Hidden Crown
• Hair Addictionz
• Femme Hair Extension
• Hairlocs
• Easihair
• Socap
• Cinderella Hair

Key Segments in the Hair Extension Market

By Material Type:

• Clip-in
• Micro Link
• Tape-in
• Glue-in
• Others

By Product Type:

• Artificial
• Natural

By Region:

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• Middle East and Africa (MEA)

Frequently Asked Questions

How Big is the Hair Extension Market?

The size of the hair extension market is USD 2,721.8 million in 2023.

Why is the Demand for Hair Extensions Increasing?

Biological problems like alopecia and the rising consumer focus on hair appearance are propelling the demand.

Which is the Leading Country in the Hair Extension Market?

The United States is the leader in the hair extension market, with a market share of 27.7%.

What Will be the Hair Extension Market Size by 2033?

The hair extension market is predicted to reach USD 5,000.2 million by 2033.

How will the Hair Extension Market Progress?

The hair extension market is predicted to progress at a CAGR of 6.3% through 2033.