The hair wigs and extension market is projected to reach $5.90 billion by 2027, with the Asia-Pacific (APAC) region contributing 45% to the market growth. Factors driving this growth include the increasing demand for online purchases, the growing popularity of human hair wigs and extensions, and advancements in the production and design of synthetic hair wigs.
The market is expected to grow by USD 5,892.01 million from 2023 to 2027 at a compound annual growth rate (CAGR) of 9%. While the offline segment currently holds the largest market share, the online segment is rapidly expanding due to the rising demand for online purchases. Human hair wigs and extensions are anticipated to experience significant growth, given their natural appearance, but synthetic hair wigs are also gaining traction due to their affordability.
The APAC region, particularly China, India, and Japan, is a key contributor to the market’s growth, driven by the increasing demand for online purchases and the rising popularity of human hair wigs and extensions.
The hair wigs and extension market is competitive, with various vendors vying for market share. The market is expected to grow at a CAGR of 9.34% during the forecast period.