Global Hair Extensions Market: Overview
Hair extensions are also known as hair weaves or artificial hair integrations, which are utilized to add volume, length, or both to hair. Hair extensions are generally sewn or glued or clipped to natural hair by addition of synthetic or human hair. The main purpose of use is to add to the length of the human hair. However, it could also act as a cover up for a bad haircut and can also add some dimension and color to one’s. The significance of hair extension in hair and beauty applications is expected to support growth of the global hair extensions market in the years to come.
The willingness to better physical appearance is another major growth factor for the global hair extensions market. The rise in per head income and subsequent rise in disposable income of the people is expected to sales of personal care and beauty products. This, in turn, is expected to work in favor of the global hair extensions market over the tenure of assessment.
Type, fitting type, category, sales channel, and region are the five important parameters based on which the global hair extensions market has been categorized. Such dissection of the market comes with the purpose to offer stakeholders with a detailed and clear analysis of the global Hair Extensions market.
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Global Hair Extensions Market: Notable Developments
One of the developments that offer a glimpse of the market dynamics about the global hair extensions market is mentioned below:
- In 2019, US-based Beauty Industry Group made an acquisition of two prominent brands dealing with hair care and grooming, Luxury Hair Co. and Hidden Crown. This acquisition is estimated to improve the sales of products of the Beauty Industry Group and expand its presence.
Some of the prominent organizations in the global hair extensions market include the below-mentioned:
- Anhui Jinruixiang Hair Product Co. Ltd.
- His & Her Hair Goods
- Diamond Hair Company
- Hair Visions International
- Shake-n-Go (SNG) Fashion
- Aderans Co., Ltd
- Hud-Son Forest Equipment
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Global Hair Extensions Market: Key Trends
The global hair extensions market is characterized by the presence of the following restraints, drivers, and opportunities.
Increased Sale through Online Distribution Channel to Drive Growth of the Market
The growing acceptance of hair extensions amongst various global actors and celebrities is estimated to act as key growth factor for the global hair extensions market. Hair extensions have gained augmented popularity in the fashion and entertainment sector. Rise in the incidences of alopecia, particularly in people from African origin is estimated propel growth of the global hair extensions market over the tenure of analysis.
Hair extensions made from human hair is costlier than synthetic hair, as such it improves affordability of hair extensions made from synthetic hair. However, the cost of extensions made from human hair is declining, which is likely to prove beneficial for manufactures of hair extensions. This is likely to play an important role in helping the manufacturers source such hair extensions at better prices.
Hair extensions are primarily sold through retail and online sales channels. Use of various online shopping websites, such as Amazon.com, E-bay are further facilitating the sale of hair extensions. This factor is likely boost the growth of the global hair extensions market in the years to come.
Global Hair Extensions Market: Geographical Analysis
Regions like Latin America and Africa account for sizeable chunk of the global hair extensions market. The rise in disposable income together with increased awareness about one’s physical appearance is likely to boost the sales of hair extensions in these regions. Furthermore, rise in hair-related ailments is another factor boosting the hair extensions market in these regions.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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