Hair Wigs and Extensions Market Share

North America Market Statistics

North America industry is expected to account for largest revenue share of 40% by 2037. This dominance is a result of customers' growing disposable income in North America, which leads to higher expenditure on beauty products and personal care products including hair wigs and extensions. The average annual expenditure of American women on cosmetic goods and services is USD 3,756.

In response to the expanding market for a wide variety of wigs and extensions, new supply outlets are opening up across the United States. An example of this will be the May 2023 opening of Charlene's Beauty Supply in Elk Grove, California. With its emphasis on providing a selection of hair care products together with premium medical-grade wigs and extensions, this new business hopes to further enhance the area's standing as a major player in the sector.

APAC Market Analysis

Asia Pacific hair wigs and extensions market is expected to observe fastest growth till 2037. The abundance of small and large competitors in this industry have made it a profitable place to buy hair goods and accessories, such as wigs and extensions, to meet the varied needs of consumers.

Furthermore, a 2023 article published by Scandinavian Biolabs states that India (14.3%) and Hong Kong (44.4%) are two of the top exporters of human hair to other countries, underscoring the Asia Pacific region's importance in the world's hair market.

The use of e-commerce sites and China's explosive growth have both contributed significantly to the rise in demand. According to information provided by UN Trade & Development, Chinese business-to-consumer e-commerce sales in 2018 were valued at USD 163 billion and USD 1,361 billion, respectively.

The popularity of social media and influencers in Japan has led to an increase in demand for hair extensions. Japan is expected to have 101.9 million active social media users by 2022. This represents about 81.1% of the addressable demographic.

In Korea, the demand for toupees and other hairpieces may grow as more people learn about the options available for hiding thinning or hair loss. A survey on men's beauty trends in South Korea in 2022 found that almost 36% of participants said they had experienced hair thinning.