Global Hair Wig Market- Market Overview:

Global Hair Wig market is expected to grow from USD 2.3 billion in 2021 to USD 3.3 billion by 2029, at a CAGR of 4.7% during the Projection period 2022-2029. The growth of this market is mainly driven by the rising occurrence of hair-related problems, including alopecia.

Wigs, hair weaves, and hair extensions are examples of synthetic hair integrations. Hair wigs are available in cap shapes to cover the full head and change hairstyles or hide baldness. Over the past few years, many consumers have demanded hair extensions or wigs for aesthetic or practical reasons. Most purchasers of hair wigs and extensions are native Africans and persons of African origin. It's interesting to note that demand from these clients has consistently been almost elastic. They spend money on relaxers and other chemical hair care treatments to straighten and smooth their hair. The accessibility of high-quality wigs and toupees motivates more men worldwide to choose alternatives to surgery or hair transplants. Manufacturers are establishing production facilities in Asian nations, particularly China and India, due to the rising demand for high-quality hair products. Additionally, the rise in per capita disposable incomes has increased discretionary spending, which is good news for businesses that make wigs and other hair extensions. Other significant variables that are predicted to impact the market expansion include the rise in hair loss rates around the globe and the popularity of personal care and cosmetic products.

The main driver of industry growth is the increasing frequency of worldwide hair-related issues, such as alopecia. Alopecia areata affects over 70,000 Americans, half of whom are women, according to a report released by the National Library of Medicine in April 2020. The public's growing concern over these ailments contributes to the industry's expansion. Due to the global lockdown brought on by the COVID-19 epidemic, the beauty and personal care sector as a whole, including the wig and extension market, was greatly impacted.

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Market Dynamics:

Drivers:                          

• Increased purchasing power

Changes in the lifestyle of consumers have been one of the major factors that have contributed to the growing popularity of hair wigs in developed and developing economies. For instance, in the Asia-Pacific region, a surge in per capita income has led to customers' changing preferences. The rise in aspiration and penchant for better looks and personalities has led to a manifold increase in market size and overall demand. Moreover, in Latin America and the Middle East, per capita income has increased considerably over a decade, which is expected to rapidly boost the demand for hair wigs in upcoming years.

• Prevalence of Alopecia

It is anticipated that market growth will be aided by the aging population's increasing usage of wigs to conceal their alopecia problems. The population of people 60 and over was 1.4 billion in 2020, and the World Health Organization (WHO) predicts that the number will quadruple to 2.1 billion by 2050. Additionally, major players are releasing specially made hair-related products that best meet consumer demand. For instance, Hi-MO LLC offers individualized items for each customer, including hair wigs, hair color, hair care, and others. Consumer usage of wigs and extensions has increased as androgenetic alopecia, or baldness as it is more widely called has become more prevalent.

Restraints:                                             

• Hair Transplant as an alternate for hair wigs

People in industrialized countries choose hair transplants because they provide a more natural appearance. Natural hair strands are transplanted onto balding areas throughout the surgery; these hair strands will eventually grow organically, giving the patient a more distinctive appearance. A hair transplant is considered a one-time, permanent operation to reverse baldness. Because caring for transplanted hair is similar to caring for your own hair, there is less maintenance pressure than there would be with a wig.

Opportunities:

• Increasing Use of Wigs in the Fashion and Entertainment Industry

The usage of wigs in the entertainment and fashion industry is expanding at a high rate. As people in these industries need to go through different hairstyles as per their role, they opt for hair wigs to decrease the heat treatment and damage done to their original hair.

Challenges                                     

• Stringent government regulations

In every nation, strict government regulations have been put in place regarding the storage of hair wigs and their effects on the environment. These must be properly adhered to when it comes to storage to stop the spread of any contagious diseases. As a result of the numerous limitations put in place by local governments to stop the virus' spread, there is a lack of raw materials like human and synthetic hair. Such variables impact the market for hair wigs, which presents a considerable challenge to industry participants.

Segmentation Analysis:

The global Hair Wig market has been segmented based on product, type, distribution channel, and regions.

By Product                                                                                        

The product type segment includes human hair and synthetic hair. The human hair segment led the largest share of the hair wig market with a market share of around 60.5% in 2021. The high penetration of hair wigs in North America and Europe and the rising desire for them among millennials are both factors in the segment's rise. Numerous brands in these areas offer these products through various offline and online distribution channels. These labels include JON RENAU COLLECTION, RENE OF PARIS, and Ellen Wille, among others. Along with the expansion of the global economy, the segment's growth is also attributable to the rising per capita disposable income. Additionally, human hair produces natural-looking results that increase demand in the market.  

     

By Distribution Channel                                                              

The distribution channel segment includes online and offline. The offline segment led the Hair Wig market with a market share of around 53.08% in 2021. A large number of consumers wish to have a physical touch of the hair wigs and compare the products, due to which they prefer purchasing them from offline stores. Besides this, offline stores have the ability to avoid the delay of delivery after purchasing the products. The users can also avoid purchasing counterfeit products, which increases the demand for hair wig purchases from offline stores.

By End-Users                                                                                   

The end-users segment includes men and women. The men segment led the Hair Wig market with a market share of around 51.7% in 2021. An increase in baldness in men is likely to drive the market. 95% of men's hair loss is caused by androgenetic alopecia, according to the American Hair Loss Association. Additionally, according to one of the papers written by the National Center for Biotechnology Information, nearly 50% of men and women may get androgenetic alopecia by November 2021. Similarly, according to information from the International Society of Hair Restoration Surgery, 40% of males over the age of 35 reports having some degree of hair loss. The high cost of hair extensions and wigs is a major factor that is anticipated to slow the industry's expansion.

By Regional Analysis:

The regions analyzed for the Hair Wig market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The North American region dominated the Hair Wig market and held the 32.1% share of the market revenue in 2021.

• North America region witnessed a major share. The increasing penetration and use of wigs and extensions across all age groups are credited with the region's rise. The hair accessories in the area are utilized as both useful and decorative items. The U.S. imports more hair products than any other country in the world. The Observatory of Economic Complexity (OEC) estimates that in 2020, the United States accounted for 53.6% of global imports of wigs, fake beards, and similar goods.
• Asia-Pacific is expected to witness a considerable growth rate during the Projection period. The region has experienced rapid expansion as a result of customers' growing use of hair accessories. Hair products were mostly utilized in the region for practical purposes, but current fashion trends have encouraged young people and millennials to try out such products. In addition, it is predicted that factors including changing lifestyles, advances in manufacturing technology, and increased consumer spending power would fuel the region's expansion.

Global Hair Wig Market- Country Analysis:

• Germany

Germany's Hair Wig market size was valued at USD 0.10 billion in 2021 and is expected to reach USD 0.14 billion by 2029, at a CAGR of 4.8% from 2022 to 2029.

Germany has one of the leading Hair Wig industries in Europe. In addition, the country is seeing huge demand for hair wigs and extensions as they are one of the main exporters of human hair wigs.  This trend has contributed to the growth of the German hair wig market.

• China

China's Hair Wig market size was valued at USD 0.21 billion in 2021 and is expected to reach USD 0.31 billion by 2029, at a CAGR of 5.1% from 2022 to 2029. The rising population and increased disposable income in China have favored the demand for Hair wigs. The market for wigs in China, including those made of human hair and chemical fiber, has exploded at an astonishing rate as local consumers gradually get over the stigmas associated with wearing wigs and as foreign buyers use the Internet to acquire wigs created in China.

• India

India's Hair Wig market size was valued at USD 0.20 billion in 2021 and is expected to reach USD 0.29 billion by 2029, at a CAGR of 4.9% from 2022 to 2029. India is one of the strongest growing economies in Asia. The factors, including increasing population, increasing disposable income, and changing lifestyles, have driven the growth of the India Hair Wig market. For instance, the demand for human hair wigs has increased by about 300% in the past three to five years, according to Alchemane Hair Extensions, a Mumbai-based retailer of Indian virgin hair wigs and toppers. This is mostly because women are more concerned about losing their hair and actively look for treatments.      

Key Industry Players Analysis:                                                     

To increase their market position in the global Hair Wig business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.

• Evergreen Products Group Ltd.
• Godrej Consumer Products Ltd.
• Artnature Inc.
• Ellen Wille
• Aderans Co., Ltd.
• Donna Bella Hair
• HairUWear
• N. Longlocks
• ALERIANA Wigs
• Klix Hair Extensions
• Indique Hair
• Shake-N-Go, Inc.

Latest Development:

• In April 2021, Evergreen Products Group Ltd. invested in a new line of digital wigs by using non-fungible tokens (NFT). The team is trying to build a direct-to-consumer (D2C) e-commerce platform that will allow people to try on wigs before buying them.
• In January 2019, Ellen Wille, a US-based company, launched seven new styles of handmade wigs to increase its product offering.
• In 2019, HairUWear acquired The WIg Company (TWC), which allowed them to enlarge their customer base.

Report Metrics

Report Attribute	Details
Study Period	2021-2029
Base year	2021
CAGR (%)	4.7%
Market Size	USD 2.3 billion in 2021
Projection period	2022-2029
Projection unit	Value (USD)
Segments covered	Product Type, Distribution Channel, End-User and Regions
Report Scope	Revenue Projection, competitive landscape, company ranking, growth factors, and trends
Companies covered	Evergreen Products Group Ltd., Godrej Consumer Products Ltd., Artnature Inc., Ellen Wille, Aderans Co., Ltd., Donna Bella Hair, HairUWear, F.N. Longlocks, ALERIANA Wigs, Klix Hair Extensions, Indique Hair, Shake-N-Go, Inc., among others.
By Product Type	Human Hair Synthetic Hair
By Distribution Channel	Offline Online
By End-User	Men Women
Regional scope	North America Europe Asia-Pacific South America Middle East and Africa

Scope of the Report

Global Hair Wig Market by Product:

• Human Hair
• Synthetic Hair

Global Hair Wig Market by Distribution Channel:

• Offline
• Online

Global Hair Wig Market by End-User:

• Men
• Women

Global Hair Wig Market by Region:

• North America
  • USA
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Russia
• Asia-Pacific
  • Japan
  • China
  • India
  • Korea
  • Southeast Asia
• South America
  • Brazil
  • Peru
• Middle East and Africa
  • UAE
  • South Africa
  • Saudi Arabia

Political Factors- The government at both the national and local levels are running deficit budgets that boost growth in the short term but may lead to an increase in inflation over the medium term. The bond rating of the national government is investment grade which may affect the growth of the hair wig market. From one government to the next, policymaking is consistent. Second, all governments uphold the agreements reached by the preceding administrations of the hair wig market. Factors such as unrest within the country & chances of civil unrest are likely to affect the growth of the hair wig market.

Economical Factors- Credit binge consumption resulted from rising consumption and stagnant household income in the United States. As a result, people no longer have enough money to save. Hair wigs must exercise caution when developing a marketing plan that relies on "Purchase on Credit" consumer behavior. The prices of hair wigs and overall products in the US market have stayed stable compared to the amount of quantitative easing in the previous ten years. Hair wig should consider the possibility of severe currency devaluation and high inflation at US deficit levels in an emerging economy.

Social Factor- Increasing consumer activism and pressure from non-governmental organizations and pressure groups are frequently a result of higher levels of social issues in society. Hair wigs must comprehend the nature of the social compact between the state and society before entering a market. For instance, because the UK health system is nationalized and contracts govern everything at the national level, it has been exceedingly difficult for US corporations to enter the UK health sector. The birth rate is also a good indicator of future demand.

Technological Factors- Hair wig manufacturers should concentrate on the environment for intellectual property rights before entering a new market. Before introducing new items, hair wigs must ascertain the degree of social acceptability of technology. Companies frequently enter the market without the necessary infrastructure to support technology-focused strategy. High levels of investment in the technology development sector increase the likelihood of creating an ecosystem that supports innovation. Hair wigs can use a circumstance like this to attract top talent.

Environmental Factors- National and local environmental policies can frequently diverge. The placement of the facility, the creation of new products, and the pricing policy are just a few issues with which this can assist hair wig manufacturers. To protect standards, environmental standards enforcement organizations play a crucial role. However, these organizations frequently use procedure stalling in developing nations as a bribery demand method. Hair wigs should be aware that such behaviors exist in a certain nation. Hair wig manufacturers may encounter several difficulties if the legal framework is weak, including consumer petitions and shakedowns by authorities.

Legal Factors- The strength and legitimacy of the country's institutions are frequently reflected in the judiciary's independence. Hair wig manufacturers shouldn't be concerned about the monopoly and restrictive trade practices law as a new participant. Hair wig manufacturers must determine the country's data rules and what they must do to comply with them. For instance, most EU nations currently only want their citizens' data to be saved there. Manufacturers should evaluate the amount of protection the nation's legal system provides for intellectual property rights.

1. Introduction
   • 1. Objectives of the Study
   • 2. Market Definition
   • 3. Research Scope
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
   • 1. Porter’s Five Forces Analysis
   • 2. Value Chain Analysis
   • 3. Top Investment Pockets
     • 3.1. Market Attractiveness Analysis By Product Type
     • 3.2. Market Attractiveness Analysis By Distribution Channel
     • 3.3. Market Attractiveness Analysis By End-User
     • 3.4. Market Attractiveness Analysis By Region
   • 4. Industry Trends
5. Market Dynamics
   • 1. Market Evaluation
   • 2. Drivers
     • 2.1. Increased purchasing power
     • 2.2. Prevalence of Alopecia
   • 3. Restraints
     • 3.1. Hair Transplant as an alternate for hair wigs
   • 4. Opportunities
     • 4.1. Increasing Use of Wigs in the Fashion and Entertainment Industry
   • 5. Challenges
     • 5.1. Stringent government regulations

6. Global Hair Wig Market Analysis and Projection, By Product Type
   • 1. Segment Overview
   • 2. Human Hair
   • 3. Synthetic Hair
7. Global Hair Wig Market Analysis and Projection, By Distribution Channel
   • 1. Segment Overview
   • 2. Offline
   • 3. Online
8. Global Hair Wig Market Analysis and Projection, By End-User
   • 1. Segment Overview
   • 2. Men
   • 3. Women
9. Global Hair Wig Market Analysis and Projection, By Regional Analysis
   • 1. Segment Overview
   • 2. North America
     • 2.1. U.S.
     • 2.2. Canada
     • 2.3. Mexico
   • 3. Europe
     • 3.1. Germany
     • 3.2. France
     • 3.3. U.K.
     • 3.4. Italy
     • 3.5. Spain
   • 4. Asia-Pacific
     • 4.1. Japan
     • 4.2. China
     • 4.3. India
   • 5. South America
     • 5.1. Brazil
   • 6. Middle East and Africa
     • 6.1. UAE
     • 6.2. South Africa

10. Global Hair Wig Market-Competitive Landscape
    • Overview
    • Market Share of Key Players in the Hair Wig Market
      • 2.1. Global Company Market Share
      • 2.2. North America Company Market Share
      • 2.3. Europe Company Market Share
      • 2.4. APAC Company Market Share
    • Competitive Situations and Trends
      • 3.1. Product Launches and Developments
      • 3.2. Partnerships, Collaborations, and Agreements
      • 3.3. Mergers & Acquisitions
      • 3.4. Expansions

11. Company Profiles
    • Evergreen Products Group Ltd.
      • 1.1. Business Overview
      • 1.2. Company Snapshot
      • 1.3. Company Market Share Analysis
      • 1.4. Company Product Portfolio
      • 1.5. Recent Developments
      • 1.6. SWOT Analysis
    • Godrej Consumer Products Ltd.
      • 2.1. Business Overview
      • 2.2. Company Snapshot
      • 2.3. Company Market Share Analysis
      • 2.4. Company Product Portfolio
      • 2.5. Recent Developments
      • 2.6. SWOT Analysis
    • Artnature Inc.
      • 3.1. Business Overview
      • 3.2. Company Snapshot
      • 3.3. Company Market Share Analysis
      • 3.4. Company Product Portfolio
      • 3.5. Recent Developments
      • 3.6. SWOT Analysis
    • Ellen Wille
      • 4.1. Business Overview
      • 4.2. Company Snapshot
      • 4.3. Company Market Share Analysis
      • 4.4. Company Product Portfolio
      • 4.5. Recent Developments
      • 4.6. SWOT Analysis
    • Aderans Co., Ltd.
      • 5.1. Business Overview
      • 5.2. Company Snapshot
      • 5.3. Company Market Share Analysis
      • 5.4. Company Product Portfolio
      • 5.5. Recent Developments
      • 5.6. SWOT Analysis
    • Donna Bella Hair
      • 6.1. Business Overview
      • 6.2. Company Snapshot
      • 6.3. Company Market Share Analysis
      • 6.4. Company Product Portfolio
      • 6.5. Recent Developments
      • 6.6. SWOT Analysis
    • HairUWear
      • 7.1. Business Overview
      • 7.2. Company Snapshot
      • 7.3. Company Market Share Analysis
      • 7.4. Company Product Portfolio
      • 7.5. Recent Developments
      • 7.6. SWOT Analysis
    • N. Longlocks
      • 8.1. Business Overview
      • 8.2. Company Snapshot
      • 8.3. Company Market Share Analysis
      • 8.4. Company Product Portfolio
      • 8.5. Recent Developments
      • 8.6. SWOT Analysis
    • ALERIANA Wigs
      • 9.1. Business Overview
      • 9.2. Company Snapshot
      • 9.3. Company Market Share Analysis
      • 9.4. Company Product Portfolio
      • 9.5. Recent Developments
      • 9.6. SWOT Analysis
    • Klix Hair Extensions
      • Business Overview
      • Company Snapshot
      • Company Market Share Analysis
      • Company Product Portfolio
      • Recent Developments
      • SWOT Analysis

List of Table

1. Global Hair Wig Market, By Product Type, 2021–2029(USD Billion)
2. Global Human Hair Hair Wig Market, By Region, 2021–2029(USD Billion)
3. Global Synthetic Hair Mineral Sunscreen Lotion Market, By Region, 2021–2029(USD Billion)
4. Global Hair Wig Market, By Distribution Channel, 2021–2029(USD Billion)
5. Global Offline Hair Wig Market, By Region, 2021–2029(USD Billion)
6. Global Online Hair Wig Market, By Region, 2021–2029(USD Billion)
7. Global Hair Wig Market, By End-User, 2021–2029(USD Billion)
8. Global Men Hair Wig Market, By Region, 2021–2029(USD Billion)
9. Global Women Hair Wig Market, By Region, 2021–2029(USD Billion)
10. Global Hair Wig Market, By Region, 2021–2029(USD Billion)
11. North America Hair Wig Market, By Product Type, 2021–2029(USD Billion)
12. North America Hair Wig Market, By Distribution Channel, 2021–2029(USD Billion)
13. North America Hair Wig Market, By End-User, 2021–2029(USD Billion)
14. USA Hair Wig Market, By Product Type, 2021–2029(USD Billion)
15. USA Hair Wig Market, By Distribution Channel, 2021–2029(USD Billion)
16. USA Hair Wig Market, By End-User, 2021–2029(USD Billion)
17. Canada Hair Wig Market, By Product Type, 2021–2029(USD Billion)
18. Canada Hair Wig Market, By Distribution Channel, 2021–2029(USD Billion)
19. Canada Hair Wig Market, By End-User, 2021–2029(USD Billion)
20. Mexico Hair Wig Market, By Product Type, 2021–2029(USD Billion)
21. Mexico Hair Wig Market, By Distribution Channel, 2021–2029(USD Billion)
22. Mexico Hair Wig Market, By End-User, 2021–2029(USD Billion)
23. Europe Hair Wig Market, By Product Type, 2021–2029(USD Billion)
24. Europe Hair Wig Market, By Distribution Channel, 2021–2029(USD Billion)
25. Europe Hair Wig Market, By End-User, 2021–2029(USD Billion)
26. Germany Hair Wig Market, By Product Type, 2021–2029(USD Billion)
27. Germany Hair Wig Market, By Distribution Channel, 2021–2029(USD Billion)
28. Germany Hair Wig Market, By End-User, 2021–2029(USD Billion)
29. France Hair Wig Market, By Product Type, 2021–2029(USD Billion)
30. France Hair Wig Market, By Distribution Channel, 2021–2029(USD Billion)
31. France Hair Wig Market, By End-User, 2021–2029(USD Billion)
32. UK Hair Wig Market, By Product Type, 2021–2029(USD Billion)
33. UK Hair Wig Market, By Distribution Channel, 2021–2029(USD Billion)
34. UK Hair Wig Market, By End-User, 2021–2029(USD Billion)
35. Italy Hair Wig Market, By Product Type, 2021–2029(USD Billion)
36. Italy Hair Wig Market, By Distribution Channel, 2021–2029(USD Billion)
37. Italy Hair Wig Market, By End-User, 2021–2029(USD Billion)
38. Spain Hair Wig Market, By Product Type, 2021–2029(USD Billion)
39. Spain Hair Wig Market, By Distribution Channel, 2021–2029(USD Billion)
40. Spain Hair Wig Market, By End-User, 2021–2029(USD Billion)
41. Asia Pacific Hair Wig Market, By Product Type, 2021–2029(USD Billion)
42. Asia Pacific Hair Wig Market, By Distribution Channel, 2021–2029(USD Billion)
43. Ashi Pacific Hair Wig Market, By End-User, 2021–2029(USD Billion)
44. Japan Hair Wig Market, By Product Type, 2021–2029(USD Billion)
45. Japan Hair Wig Market, By Distribution Channel, 2021–2029(USD Billion)
46. Japan Hair Wig Market, By End-User, 2021–2029(USD Billion)
47. China Hair Wig Market, By Product Type, 2021–2029(USD Billion)
48. China Hair Wig Market, By Distribution Channel, 2021–2029(USD Billion)
49. China Hair Wig Market, By End-User, 2021–2029(USD Billion)
50. India Hair Wig Market, By Product Type, 2021–2029(USD Billion)
51. India Hair Wig Market, By Distribution Channel, 2021–2029(USD Billion)
52. India Mexico Hair Wig Market, By End-User, 2021–2029(USD Billion)
53. South America Hair Wig Market, By Product Type, 2021–2029(USD Billion)
54. South America Hair Wig Market, By Distribution Channel, 2021–2029(USD Billion)
55. South America Hair Wig Market, By End-User, 2021–2029(USD Billion)
56. Brazil Hair Wig Market, By Product Type, 2021–2029(USD Billion)
57. Brazil Hair Wig Market, By Distribution Channel, 2021–2029(USD Billion)
58. Brazil Mexico Hair Wig Market, By End-User, 2021–2029(USD Billion)
59. Middle East and Africa Hair Wig Market, By Product Type, 2021–2029(USD Billion)
60. Middle East and Africa Hair Wig Market, By Distribution Channel, 2021–2029(USD Billion)
61. Middle East Hair Wig Market, By End-User, 2021–2029(USD Billion)
62. UAE Hair Wig Market, By Product Type, 2021–2029(USD Billion)
63. UAE Hair Wig Market, By Distribution Channel, 2021–2029(USD Billion)
64. UAE Mexico Hair Wig Market, By End-User, 2021–2029(USD Billion)
65. South Africa Hair Wig Market, By Product Type, 2021–2029(USD Billion)
66. South Africa Hair Wig Market, By Distribution Channel, 2021–2029(USD Billion)
67. South Africa Hair Wig Market, By End-User, 2021–2029(USD Billion)

List of Figures 

1. Global Hair Wig Market Segmentation
2. Hair Wig Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Hair Wig Market Attractiveness Analysis By Product Type
9. Global Hair Wig Market Attractiveness Analysis By Distribution Channel
10. Global Hair Wig Market Attractiveness Analysis By End-User
11. Global Hair Wig Market Attractiveness Analysis By Region
12. Global Hair Wig Market: Dynamics
13. Global Hair Wig Market Share By Product Type (2021 & 2029)
14. Global Hair Wig Market Share By Distribution Channel (2021 & 2029)
15. Global Hair Wig Market Share By End-User (2021 & 2029)
16. Global Hair Wig Market Share by Regions (2021 & 2029)
17. Global Hair Wig Market Share by Company (2020)