As per the current market research conducted by Custom Market Insight Market Research Team, the global hair extensions market size is expected to record a CAGR of 6.3 % from 2023 to 2030. In 2023, the market size is projected to reach a valuation of US$ 3.40 billion. By 2030, the valuation is anticipated to reach US$ 5.89 billion.
Browse the full “Hair Extensions Market Size, Trends and Insights By Type (Synthetic Hair Extension, Human Hair Extension, Animal Hair Extension), By End Use (Professional, Personal), By Fitting Type (Clip-In, Micro Link, Tape-In, Glue-In), By Distribution Channel (Retail Stores, Super Markets, E-Commerce), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2030” report at https://www.custommarketinsights.com/report/hair-extensions-market/
Mergers and Acquisitions
The hair extensions market is a highly competitive and fragmented market, with a large number of small and medium-sized companies operating globally. Mergers and acquisitions can be a key strategy for companies in this industry to expand their market share, increase their product portfolio, and gain access to new distribution channels.
In recent years, there have been several notable mergers and acquisitions in the hair extensions market. For example, in 2019, L’Oreal acquired the German professional hair extensions brand, Great Lengths. In the same year, Bellami Hair, a leading hair extensions brand, was acquired by the private equity firm, ACON Investments.
Overall, M&A activity in the hair extensions market is expected to continue as companies look to consolidate their positions and gain a competitive advantage in this growing industry.
n 2021, the North American hair extensions market held a substantial share of the overall hair extensions market, and it is anticipated to exhibit significant growth at a CAGR during the forecast period. The growth in this region is attributed to the high usage and adoption of hair extensions among people of all age groups, as they are considered both functional and decorative hair accessories. The United States is the world’s largest importer of hair products, with a significant share of global imports of wigs, fake beards, and similar goods estimated at 53.6% in 2020, according to the Observatory of Economic Complexity (OEC).
The increasing demand for hair styling products, including hair extensions, can be attributed to the growing demand for hair products in urban areas. The rising popularity of hair extensions among people is a direct result of this trend. Furthermore, peer pressure is also an important factor that is contributing to the growth of the hair extensions market, especially among women from affluent backgrounds. These women are often under pressure to conform and be accepted by their peers, and as a result, they tend to compete with each other in terms of physical appearance and fashion, leading to a higher demand for hair extensions and other beauty products.
The hair extensions market is witnessing various opportunities due to the increasing use of high-end grooming products by consumers. To match their appearance with temporary trends, consumers are using more fashionable and premium grooming products. This trend presents an opportunity for businesses to create cutting-edge hair extensions and other related products. Additionally, the growing demand for multi-colored hair extensions among celebrities and artists is expected to create market expansion opportunities for new artificial hair integrations.
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The growth of the hair extensions market is being hindered by increasing awareness and concern for hair loss treatment. To address this issue, scientists are developing creative and innovative techniques to regrow or restore lost hair, and people are increasingly using various drugs and anti-hair loss therapies. The demand for hair transplants is also expected to rise, both on the scalp and in non-scalp locations, as people become more conscious of their appearance. Two of the most commonly used drugs for treating hair loss are minoxidil and finasteride.
List of the prominent players in the global Hair Extensions Market:
- Jon Renau
- Hairdreams Haarhandels GmbH
- So Cap USA
- Shake-N-Go Inc
- Balmain Hair Couture
- Beauty Industry Group Inc
- The Gorgeous Hair
- Evergreen Products Group Limited
- SalonLabs Exports India Pvt Limited
- Great Lengths S.p.A Societa Benefit
- Perfect Locks LLC
- Locks & Bonds
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