Hair Wigs and Extensions Market Analysis

Product (Wigs, Extensions, Toupee)

Wigs segment is estimated to hold over 60% hair wigs and extensions market share by the end of 2036. The market is expanding because wigs are easy to dress and are regarded as stylish. As a result, people are starting to favor human hair wigs. Many men and women are influenced to pick between these options instead of hair transplants and surgery by the availability of high-quality wigs.

Technology advancements and digitalization have increased as a result of the rising demand for hair wigs and the variety of issues consumers face when selecting the best solution. For example, in April 2021, the distributor of wigs and extensions Evergreen Products Group Limited said that it will use non-fungible tokens (NFTs) to create and invest in digital wigs. The business collaborated with Hong Kong-based XR content and software provider Shadow Factory Limited to develop an augmented reality-driven e-commerce platform that allows users to try on wigs prior to purchase.

Hair Type (Human Hair, Synthetic, Hair Wigs)

The human hair segment in the hair wigs and extensions market is poised to surpass USD 5 billion in revenue, which may be attributed to the natural appearance they offer to customers. The human hair industry consists of several types, most prominently Remy hair, which has cuticles oriented in the same direction to provide the appearance of natural hair. Conversely, non-Remy hair provides an alternative because its strands have cuticles pointing in opposite directions.

Genuine people are drawn to virgin hair because it is highly valued for being unprocessed and in its original state. Processed hair comes in colored, bleached, or curled varieties, offering a variety of customizable styles. Furthermore, the International Society of Hair Restoration Surgery (ISHRS) reports that, in 2021, 396 individuals on average per member had non-surgical hair restoration treatments performed by ISHRS doctors. This statistic indicates the surging demand for market, especially in this segment.

Distribution Channel (Offline Stores, Online Stores)

By 2036, online stores segment is set to capture over 70% hair wigs and extensions market share due to increase more quickly in the upcoming years due to consumers' propensity to physically try on and compare products. A greater variety of products, competitive price, ease of online retail, and rising internet usage are some of the factors driving this increase.

At 5.3 billion, about two thirds of the world's population were online as of 2023. This represents the total number of internet users globally. The rise in popularity of direct-to-consumer companies and online marketplaces is also contributing to the online segment's increase in market.

Our in-depth analysis of the market includes the following segments: