Wednesday, April 12, 2023
Hair extensions are a popular beauty product that has been around for decades. The U.S. is one of the largest markets for hair extensions, with a growing demand for different types of extensions. In this article, we will explore the market size of the hair extension market in the U.S., how it is distributed, past and future trends.
According to a report by Grand View Research, the global hair extension market was valued at $3.04 billion in 2020 and is expected to reach $4.6 billion by 2028, growing at a CAGR of 5.5% from 2021 to 2028. The U.S. is the largest market for hair extensions, accounting for a significant share of the global market. In 2020, the U.S. hair extension market was valued at $816.9 million and is expected to grow at a CAGR of 6.3% from 2021 to 2028.
The hair extension market in the U.S. is distributed through various channels, including salons, online stores, and retail stores. Salons are the largest distribution channel, accounting for a significant share of the market. According to a report by the Professional Beauty Association, the salon industry in the U.S. generated $46 billion in 2019, with hair services accounting for 35% of total salon industry revenue.
Online stores are also a popular distribution channel for hair extensions. With the rise of e-commerce, consumers can easily purchase hair extensions online, making it a convenient and accessible option. Retail stores such as beauty supply stores also sell hair extensions, providing consumers with an option to purchase hair extensions in-person.
In the past, hair extensions were primarily used by celebrities and models, but in recent years, hair extensions have become more accessible and affordable for the average consumer. The rise of social media influencers and beauty bloggers has also contributed to the popularity of hair extensions, with many influencers and bloggers promoting various types of extensions.
Another trend in the hair extension market is the increasing demand for natural and sustainable hair extensions. Consumers are becoming more conscious about the products they use, and many are opting for natural hair extensions made from human hair or organic materials. This trend is expected to continue in the future, as consumers become more aware of the impact of their purchasing decisions.
The hair extension market in the U.S. is expected to continue growing in the future, driven by factors such as the increasing demand for different types of extensions and the rise of e-commerce. According to a report by Technavio, the hair extension market in the U.S. is expected to grow at a CAGR of over 7% from 2021 to 2025.
Another trend that is expected to drive the hair extension market is the increasing use of technology in the production of hair extensions. With the use of advanced technology, manufacturers can produce hair extensions that are more natural-looking and durable, providing consumers with a higher-quality product.
A business in hair extensions can be profitable due to the high demand for these products and the potential for high profit margins and success in this industry depends on various factors, including product quality, marketing strategies, and effective management of overhead costs.
With the right approach and execution, a hair extension business can potentially generate significant revenue and profits.
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The hair extension industry is a large and growing market and there is BIG demand for high-quality and natural-looking hair extensions and those who offer them.
Creator of Soft Bond Strands®; Founder, Just Clean Hair™; Owner, WEST COAST HAIR®
Over 10 years ago, I created a hair extension product and method I worked tirelessly to perfect. I brought it to the online world as a DIY hair extension system and years later began to serve clients. We accumulated a client list in both Minnesota and California, eventually opening storefronts in Minneapolis' Uptown and then in Beverly Hills. I've since created a beloved hair care line for clients, customers, friends and family.
Most recently, I’ve perfected my system and built an Academy to teach others to do what I’ve done: Create a viable, successful 6-figure business working part-time hours from home through an online Academy filled with learning courses.
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