Deep Dive into the Multi-Million Dollar Business of the Hair Weave & Extensions Industry
The hair weave industry is one of the fastest-growing markets globally and having mostly women as the target market, it is bound to be a great success.
The global hair weave market grew at a CAGR of approximately 10% during 2014-2019, according to ResearchAndMarkets.com, and is still expected to grow fairly during the next five years.
Hair weave is an artificial hairpiece attached to the wearer’s natural hair by interweaving, gluing, fusing, and blending. It can be made from real human hair or be manufactured synthetically by man-made blended fibers.
A hair weave enhances volume, length, color, and texture to the natural hair. While many women use them, men are also consumers of these products but in different forms.
To install them, some people may opt for clip-in hair weave, sew it in the hair, or if one prefers not having it on for a while, they may glue it in.
The growth of the hair industry is based on certain factors such as the enhancement of one's physical appearance, the growing demand for non-surgical treatment of hair loss, the increasing demand for camouflaging baldness, and the emergence of e-commerce platforms.
Furthermore, the rising acceptance of hair weaves and extensions by global celebrities on social media increases a high demand for them. Accessibility also plays a role in the market growth as consumers can now purchase the products in stores instead of online shopping.
Human hair extensions are also popular as they are made from real human hair collected from a donor's head. One of the best brands in the business is Hidden Crown by celebrity hairstylist Justine Marjan.
Celebs who usually go for this brand are journalist Elaine Welteroth and former First Lady Michelle Obama. The halo crown adds temporary length without any bonding, weaving, or gluing.
Then there is Indique Hair Extensions which has been the go-to location for women wanting quality hair extensions. The company has over seventeen brick-and-mortar locations in the United States, including South Africa.
They are a sought-after brand because of their variety of quality textures. The brand has over 21 different curly textures and is dubbed the Fenty Beauty of natural hair extensions.
The next one is Great Lengths, a brand that uses 100 percent Remy quality raw hair from India. Each bundle comes from one head which means you have the same texture throughout the hair.
Unlike other companies, this brand is transparent about where they source their hair. Clientele includes Mindy Kaling and Madeleine Petsch.