Nowadays, there is a trend for using high-end hair products that are recommended by doctors and fashion professionals. Hair extensions are highly beneficial in maintaining hair density, colouring of wig without any damage, and hiding split ends. Rising demand for self- grooming products and increase in disposable income. According to the global hair extension industry size was valued at USD 2.38 billion in 2021 with a CAGR of 5.3% and is expected to reach a valuation of USD 3.43 billion by the year 2028. The inclination for the product is due to increasing innovation amongst the market players that is expected to increase the purchase of such products. The prevalence of hair diseases such as alopecia, receding hairline, and other hair fall diseases is also anticipated to drive the demand for hair products.
They are made exactly out of real hair that is obtained from human hair collected from the donor. Natural hair extensions have the best quality, but are costly. Most common hair extensions are clip-in, fusion & pre-bonded, and tap-in. Increased use of such products in entertainment and fashion industries and changing lifestyles in developed countries has amplified the accessibility of products. People are more interested in buying hair extensions instead of buying
COVID-19 Impact: Disruptions in Personal Care Industry to Hamper Growth for Hair Products
The impact of COVID-19 pandemic was felt on the sale of personal care and consumer goods due to the influence on the cosmetics industry. The disruptions were experienced due to restrictions in supply chains and halting of operations. Shutting down of beauty and hair salons also led to decline in the demand of hair extension products. The change in consumer behavior towards personal hygiene and grooming and beauty related activities which has fuelled the demand for hair products.
Top Market Players Reported byFortune Business Insights™:
- Great Lengths Universal Hair Extensions Srl
Great Length is an Italian hair products company which offers depigmentation, pigmentation, and blending. The company was founded in 1993 in Rome, Italy. Company selects the best quality of hair from different Indian Hindu Temples, where hair is donated willingly. It operates in countries such as Argentina, Brazil, Canada, India, Denmark, the U.K., and many other several countries.
- Balmain Hair Group B.V.
Balmain Hair Group is a Dutch personal care product manufacturing located in Rotterdam, Zuid-Holland. The company is 50 years old and puts emphasis on hair additions and wigs according to the fashion of the early 1970s. Balmain Hair Couture is one of the market leaders in high fashion additions and hair extensions.
- Hair Visions International
Hair Visions International is a U.S.-based women’s and men’s hair replacement products and services company. They provide hair replacement, women’s, men’s, and children’s wigs, and hair extensions. It is one of the largest global distributors of hair replacement products. The company has four brands under their banner, TRESALLURE, Gemtress, ON RITE, and UltraTress.
ESQIDO is a Canadian personal care product manufacturing company located in Toronto, Ontario. They specialize in providing fake lashes which are expertly handcrafted. It is a direct to consumer company providing beauty brands offering performance cosmetics.
- Evergreen Products Group Ltd.
Evergreen Products Group Ltd. is a holding company founded in 1962, based in Hong Kong. The company and its subsidiaries are engaged in manufacturing and trading of hair products. The company operates in three main segments: wigs, hair accessories, and other hair accessories. It operates in Europe and the U.S. It has high-end hair extension salons in North America, Asia, and Europe.
The future ofthe hair extension market is heavily relying on the new and revolutionary techniques and trends introduced by the market players that will induce hair extension market growth.
- One of the new technologies is cold fusion, it is a new method that is more gentle on hair. This method doesn’t use heat but it uses keratin-based polymers to attach the extensions to the roots of the hair. It uses ultrasound waves that are transformed into mechanical energy.
- Other technology is Hair Cold Clip technology that consists of hypo allergic metal clamps in chrome pink gold or carbon black. It adds hair extensions without heat, ultrasound, or glue.
- Newest trends for hair extensions are straight & sleek, extra-long lengths, layered hair, beach waves, bouncy blow drys, baby braids, and many more.