Report : Asia Pacific Hair Extension Market Forecast to 2030 - Regional Analysis - by Product Type (Tape-in, Fusion and Pre-bonded, Clip-in, and Others), Source (Human Hair and Synthetic Hair), and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others)
At 5.7% CAGR, the Asia Pacific Hair Extension Market is Projected to be worth US$ 1,226.17 million by 2030, says Business Market Insights
According to Business Market Insights research, the Asia Pacific hair extension market was valued at US$ 788.10 million in 2022 and is expected to reach US$ 1,226.17 million by 2030, registering a CAGR of 5.7% from 2022 to 2030. Growth of the personal care and beauty industry and increasing disposable income and changing living standards of middle-class population are the critical factors attributed to the Asia Pacific hair extension market expansion.
The global middle-class population, the next potential consumer segment for the personal care and cosmetic industry, has surged significantly. The shopping behavior and living standards of the middle-class population are changing rapidly with the increase in per capita disposable income. In the current market scenario, the number of consumers visiting branded salons is more significant than ever, owing to their proactive search for branded products, including hair care and skincare products. Such consumers are often primary targets for consumer-focused businesses because of their discretionary spending power. According to the World Data Lab projections, the middle-class population drives demand for various products including beauty and hair products in the global economy. They are expected to fuel the industry growth owing to rising per capita income. A noticeable change in middle-class spending patterns will affect the Asia Pacific hair extension market. In emerging countries such as India and China, middle-class people account for a significant share of the hair extension market due to the increasing economy and growing disposable income. Out of the total population residing in China, the middle-class category accounts for the largest share globally and is a significant market for major multinational companies. Chinese middle-class consumer consumption, primarily inspired by the western lifestyle, is increasing the demand for higher quality products such as hair extensions, hair care, and other styling and grooming products. The rise in disposable income in the middle-class population has changed their shopping behavior and living standards, affecting the grooming market. Thus, such factors are driving the demand for hair extensions.
On the contrary, unethical practices in hair industry hurdles the growth of Asia Pacific hair extension market.
Based on product type, the Asia Pacific hair extension market is categorized into tape-in, fusion and pre-bonded, clip-in, and others. The clip-in segment held 52.6% market share in 2022, amassing US$ 414.44 million. It is projected to garner US$ 613.59 million by 2030 to expand at 5.0% CAGR during 2022-2030.
Based on source, the Asia Pacific hair extension market is bifurcated into human hair and synthetic hair. The synthetic hair segment held 59.6% share of Asia Pacific hair extension market in 2022, amassing US$ 469.72 million. It is projected to garner US$ 716.00 million by 2030 to expand at 5.4% CAGR during 2022-2030.
Based on distribution channel, the Asia Pacific hair extension market is categorized into supermarkets and hypermarkets, specialty stores, online retail, and others. The specialty stores segment held 55.6% share of Asia Pacific hair extension market in 2022, amassing US$ 437.80 million. It is projected to garner US$ 691.44 million by 2030 to expand at 5.9% CAGR during 2022-2030.
Based on country, the Asia Pacific hair extension market has been categorized into China, Japan, India, South Korea, Australia, and the Rest of Asia Pacific. Our regional analysis states that the Rest of Asia Pacific captured 29.4% share of Asia Pacific hair extension market in 2022. It was assessed at US$ 232.02 million in 2022 and is likely to hit US$ 348.06 million by 2030, exhibiting a CAGR of 5.2% during 2022-2030.
Key players operating in the Asia Pacific hair extension market are Great Lengths SpA, Evergreen Products Group Ltd, Xuchang Bingyang Industrial Co. Ltd, and Angel Extensions, among others.
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