Increasing Disposable Income and Changing Living Standards of Middle-Class Population fuel the Europe Hair Extension Market
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 Europe hair extension market. 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.
Europe Hair Extension Market Overview
The Europe hair extension market is segmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The western part of Europe is known for its better living standards, with people displaying a higher income level. It is one of the wealthiest regions on the European continent, with more per capita GDP than the others. Hair extensions display incremented growth in these parts. The presence of a manufacturing hub and the growing demand for hair extension from consumers in the region will positively impact the market growth. Apart from this, the UK, France, and Germany are among the leading hair extension markets in the continent. The countries are experiencing a growing demand for hair extension due to increasing disposable incomes and urbanization. Besides, the demand for hair extension has increased among consumers due to the rising popularity of hair goods such as fashion accessories.Europe Hair Extension Market Revenue and Forecast to 2030 (US$ Million)
Europe Hair Extension Market Segmentation
The Europe hair extension market is segmented based on product type, source, distribution channel, and country. Based on product type, the Europe hair extension market is segmented into tape-in, fusion and pre-bonded, clip-in, and others. The clip-in segment held the largest market share in 2022.Based on source, the Europe hair extension market is bifurcated into human hair and synthetic hair. The synthetic hair segment held a larger market share in 2022.
Based on distribution channel, the Europe hair extension market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The specialty stores segment held the largest market share in 2022.
Based on country, the Europe hair extension market is segmented into Germany, the UK, France, Italy, Russia, and the Rest of Europe. The Rest of Europe dominated the Europe hair extension market share in 2022.
Balmain Hair Group BV, Great Lengths SpA, Evergreen Products Group Ltd, Socap USA Inc, and Barclay Wolf Ltd are some of the leading companies operating in the Europe hair extension market.
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Executive Summary
At 4.6% CAGR, the Europe Hair Extension Market is Speculated to be worth US$ 1,670.85 million by 2030.According to this research,, the Europe hair extension market was valued at US$ 1,164.61 million in 2022 and is expected to reach US$ 1,670.85 million by 2030, registering a CAGR of 4.6% 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 Europe hair extension market expansion.
The demand for hair extension in the entertainment and fashion industry is anticipated to grow significantly due to the increasing preference for hair extension among models and celebrities. The industry is anticipated to grow owing to the surge in the incidence of hair fall among women and men. Also, in terms of revenue, hair extension is highly adopted in the entertainment and fashion industry owing to rising incidence of alopecia. The fashion and entertainment industry has become vital for the sale and adoption of hair extension products. Production and fashion houses stock numerous hair extension for models and actors since they perform distinguished roles and characters. The upsurge in hair ailments among consumers is also assisting the industry to grow at a uniform pace. The number of individuals suffering from hair fall is increasing rapidly, owing to which several people are choosing hair extensions. Thus, such factors are creating lucrative opportunities for the growth of the hair extension market.
On the contrary, unethical practices in hair industry hurdles the growth of Europe hair extension market.
Based on product type, the Europe hair extension market is categorized into tape-in, fusion and pre-bonded, clip-in, and others. The clip-in segment held 48.6% market share in 2022, amassing US$ 566.42 million. It is projected to garner US$ 779.77 million by 2030 to expand at 4.1% CAGR during 2022-2030.
Based on source, the Europe hair extension market is bifurcated into human hair and synthetic hair. The synthetic hair segment held 53.8% share of Europe hair extension market in 2022, amassing US$ 626.57 million. It is projected to garner US$ 879.30 million by 2030 to expand at 4.3% CAGR during 2022-2030.
Based on distribution channel, the Europe hair extension market is categorized into supermarkets and hypermarkets, specialty stores, online retail, and others. The specialty stores segment held 53.2% share of Europe hair extension market in 2022, amassing US$ 619.67 million. It is projected to garner US$ 896.00 million by 2030 to expand at 4.7% CAGR during 2022-2030.
Based on country, the Europe hair extension market has been categorized into Germany, the UK, France, Italy, Russia, and the Rest of Europe. Our regional analysis states that the Rest of Europe captured 38.2% share of Europe hair extension market in 2022. It was assessed at US$ 444.66 million in 2022 and is likely to hit US$ 610.00 million by 2030, exhibiting a CAGR of 4.0% during 2022-2030.
Key players operating in the Europe hair extension market are Balmain Hair Group BV, Great Lengths SpA, Evergreen Products Group Ltd, Socap USA Inc, and Barclay Wolf Ltd, among others.
Companies Mentioned
- Balmain Hair Group BV
- Great Lengths SpA
- Evergreen Products Group Ltd
- Socap USA Inc
- Barclay Wolf Ltd
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 69 |
Published | December 2023 |
Forecast Period | 2022 - 2030 |
Estimated Market Value in 2022 | 1.16 Billion |
Forecasted Market Value by 2030 | 1.67 Billion |
Compound Annual Growth Rate | 4.6% |
Regions Covered | Europe |
No. of Companies Mentioned | 5 |