Artificial Intelligence
Human Hair Extension Market Size Worth USD 7.63 Billion by 2029 | Human Hair Extension Industry Expected CAGR 9.44%
Pune, India, May 16, 2022 (GLOBE NEWSWIRE) — The global human hair extension market size was valued at USD 3.71 billion in 2021 and touched USD 4.06 billion in 2022. The market is expected to reach USD 7.63 billion by 2029, exhibiting a CAGR of 9.44% during the forecast period. Rising demand for Vietnamese hair across North American markets and the evolving consumer buying preferences is expected to elevate market growth. Fortune Business Insights™ provides this information in its report titled “Human Hair Extension Market, 2022-2029.”
COVID-19 Pandemic
Declining Product Demand to Impede Industry Progress
This market is expected to be negatively affected during the COVID-19 pandemic due to the declining demand for the product. The alarming spike in COVID-19 patients led to the imposition of stringent COVID-19 restrictions, thereby hindering manufacturing activities. This factor created supply chain disruptions. Further, travel restrictions led to reduced product sales. However, the resumption of lockdown has facilitated tourism and travel, thereby enhancing the demand for human hair extension. This factor may enhance market progress during the pandemic.
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Fortune Business Insights™ lists out all the human hair extension market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:
- GREAT LENGTHS (Italy)
- Balmain Hair Couture (France)
- Hairdreams Haarhandels GmbH (Austria)
- easihair pro (U.S.)
- Euro So. Cap Srl (Italy)
- Beauty Industry Group Inc. (U.S.)
- Cinderella Hair Extension (U.S.)
- Hairlocs (U.S.)
- KLIX HAIR, INC. (U.S.)
- UltraTress (U.S.)
- Racoon International (U.K.)
- Hair Addictionz (U.S.)
- N. LONGLOCKS (U.S.)
- Viva Femina, Inc. (U.S.)
- Femme Extensions (U.S.)
Human Hair Extension Market Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast Period 2022 to 2029 CAGR | 9.44% |
| 2029 Value Projection | USD 7.63 Billion |
| Base Year | 2021 |
| Market Size in 2021 | USD 3.71 Billion |
| Historical Data for | 2018 to 2020 |
| No. of Pages | 156 |
| Segments covered | By Application, By Sales Channel, By Region, By Type |
| Growth Drivers | Increasing Prevalence of Hair Disorders to Enhance Market Progress |
| Rising Partnerships Between Firms to Augment Growth in North America | |
| Companies Set Up Shops in New Territories to Expand Consumer Base | |
| Pitfalls & Challenges | Rising Demand for Substitute Products/Procedures Paired to Limit Product Demand |
Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market’s key players
Rising Female Audiences to Elevate the Female Segment’s Growth
Based on application, the market is bifurcated into female and male.
The female segment is expected to grow rapidly due to the rising demand for the product from the female population. Manufacturers target the female population due to their willingness to invest in beauty products.
Online Channel Segment to Dominate Owing to Rapid Digitization and Shopping Convenience
As per sales channel, the market is classified into offline channel and online channel.
The online channel segment is expected to grow exponentially due to increasing adoption of online services. Rising smartphone adoption and the convenience offered by online shopping are expected to enhance the adoption of the product.
Regionally, the market is studied across North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Driving Factors
Increasing Prevalence of Hair Disorders to Enhance Market Progress
Human hair extensions are made from human hair due to their longer lifespan and can be styled with hair dryers. The rising prevalence of hair disorders is expected to enhance its demand. For example, as per the American Hair Loss Association (AHLA), male baldness is a major health issue that affects nearly 25% of men globally. The AHLA also mentions that nearly 66% of men experience hair loss by 35 years and hair thinning before 50 years. Furthermore, the rising aging population worldwide is expected to enhance the adoption of human hair extensions. Also, the adoption of Remy hair may enhance consumer demand as it is considered the highest quality extension globally. These factors may drive the human hair extension market growth.
However, strong demand for alternative products and procedures is expected to hinder the market’s progress.
Segments
Clip-in Hair Extension Segment to Dominate Owing to Strong Demand for Affordable Products
By type, the market is segmented into clip-in hair extension, fusion & pre-bonded hair extension, tape-in hair extension, and others.
The clip-in hair extension segment is expected to dominate the market due to consumers’ rising demand for affordable products. It offers users hassle-free removal and installation, thereby boosting its preference.
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/human-hair-extension-market-106648
Regional Insights
Rising Partnerships Between Firms to Augment Growth in North America
North America is expected to dominate the human hair extension market share due to rising partnerships between firms. For example, Perfect Locks LLC, a California-based hair extension company, offers distribution opportunities for salons/businesses. The market in North America stood at USD 1.72 billion in 2021 and is expected to grow rapidly in the coming years.
In Asia Pacific, the presence of sizable natural hair supplying manufacturers is expected to enhance the demand for human hair extension. This factor may propel the market progress in the coming years.
Competitive Landscape
Companies Set Up Shops in New Territories to Expand Consumer Base
Prominent companies operating in the market set up shops in different countries to expand their consumer base. For example, Mayvenn Inc. set up its shops in new territories to expand its consumer base in June 2021. The company is backed by several investors such as Jimmy Iovine, Andre Iguodala, Serena Williams, Trinity Ventures, Cross Culture Ventures, and Andreessen Horowitz. This strategy may allow Mayvenn Inc. to expand its consumer base globally. Furthermore, the companies invest heavily in acquisitions, mergers, research and development, novel product launches, and expansions to boost their market position.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Overview of the Parent Market
- Industry SWOT Analysis
- Supply Chain and Regulatory Landscape
- Recent Industry Developments – Mergers & Acquisitions, Product
- Launches, Expansions
- Market Analysis and Insights (in Relation with COVID-19)
- Impact of COVID-19 on the Market
- Supply Chain Challenges due to the Pandemic
- Potential Opportunities to Support the Market
- Global Human Hair Extension Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type
- Clip-in Hair Extension
- Fusion & Pre-Bonded Hair Extension
- Tape-in Hair Extension
- Others
- By Application
- Female
- Male
- By Sales Channel
- Offline Channel
- Offline Channel
- By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Type
TOC Continued…!
Key Industry Development
- October 2021: A Canadian manufacturer named Luxy Hair announced an artificial intelligence color match tool for simplifying and personalizing the hair extension process.
Have a Look at Related Research Insights:
Hair Care Market Size, Share & COVID-19 Impact Analysis, and Regional Forecast, 2021-2028
Hair Styling Tools Market Size, Share, Trend and Geography Forecast till 2020-2027
U.S. Hair Extension Market Size, Share & COVID-19 Impact Analysis, and Regional Forecast, 2021-2028
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
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Artificial Intelligence
Xinhua Silk Road: E China’s Changzhou City unveils investment opportunities in sectors of new productive forces for global investors
BEIJING, Sept. 29, 2024 /PRNewswire/ — Changzhou City, an leading international smart manufacturing base located in east China’s Jiangsu Province, has released a bunch of investment investment opportunities to global investors in various sectors of new productive forces at the the 2024 New Energy Industry Development Conference & Invest in Changzhou Conference held in the city on September 19.
The investment opportunities covers nine areas including synthetic biology, low-altitude economy, intelligent connected new energy vehicles, solid-state batteries, hydrogen energy, third-generation semiconductors, and artificial intelligence, manifesting the confidence of Changzhou in further opening development.
Changzhou, seated in the axis of the Yangtze River Delta, has become an important base for advanced manufacturing in China.
In recent years, thanks to intensified efforts in developing new energy industry and fostering new quality productive forces, Changzhou has expanded the added value of its industrial sector to more than two trillion yuan, with manufacturing added value accounting for about 43 percent, both ranking among the top three in Jiangsu Province.
In the Hurun China New Energy Cities 2024, a list released by the Hurun Research Institute at the conference, Changzhou ranked first among other cities in the country for three consecutive years in terms of investment attractiveness and concentration.
Changzhou has accumulated a total of 10.59 billion US dollars (nearly 74.25 billion yuan) in terms of actually utilized foreign capital since 2020. Major projects such as soft magnetism of ArcelorMittal and medical device of BIOS, a Hong Kong-based company, have been launched during the conference.
In addition, Changzhou has released a multilingual guide for foreign nationals in Changzhou at the conference, which includes practical service items in stay and residence, work, convenient payment options, among others, turning the city into a more open and international place.
Original link: https://en.imsilkroad.com/p/342380.html
Photo – https://mma.prnewswire.com/media/2518604/Changzhou.jpg
View original content:https://www.prnewswire.co.uk/news-releases/xinhua-silk-road-e-chinas-changzhou-city-unveils-investment-opportunities-in-sectors-of-new-productive-forces-for-global-investors-302261868.html
Artificial Intelligence
CGTN: China honors individuals with highest awards in celebration of 75th National Day
BEIJING, Sept. 29, 2024 /PRNewswire/ — Huang Zongde enlisted in the Chinese People’s Liberation Army at the age of 17, beginning a nearly four-decade-long military career where his bravery, valor and devotion earned him countless awards and honors.
The heavily decorated 93-year-old received the highest state honor on Sunday when Chinese President Xi Jinping conferred him with the Medal of the Republic at a ceremony in the Great Hall of the People in Beijing.
China awarded national medals and national honorary titles to 15 individuals, including Huang, in recognition of their contribution and achievement as it celebrates the 75th anniversary of the founding of the People’s Republic of China, which falls on October 1.
Chinese heroes and role models
In addition to Huang, three others were awarded the Medal of the Republic. Wang Yongzhi, a missile and rocket expert and a pioneer of China’s manned space program, was honored posthumously. Wang Zhenyi, a medical scientist known for breakthroughs in leukemia treatment, and Li Zhensheng, an expert in wheat breeding, are also among the honorees.
The national honorary titles went to 10 people, including scientists, a border patrolman, an artist, a craftsman, educators, a health worker, an economist and an athlete.
Addressing Sunday’s awarding ceremony, President Xi, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, called on the Chinese people to learn from heroes and role models to form a mighty force to build a strong China.
China is in a crucial period for building a great modern socialist country in all respects and achieving national rejuvenation through Chinese modernization, he said.
Encouraging the Chinese people to strive for extraordinary achievements at ordinary job posts, Xi urged them to contribute to resolving challenges to development and reform and safeguarding social harmony and stability.
China’s old friends and good friends
As its highest state honor for foreigners, China awarded the Friendship Medal to Dilma Rousseff, president of the New Development Bank and former Brazilian president, for her commitment to the friendship between China and Brazil, and development of relationship between China and the Community of Latin American and Caribbean States, and cooperation among BRICS countries, a group of major emerging economies.
Accepting the honor at the ceremony, Rousseff said the medal symbolizes the strong bonds between Brazil and China and pledged to continue her unremitting efforts to promote the friendship.
China’s achievements over the decades, including economic transformation, technological innovation and remarkable social development, have made it a beacon and a source of inspiration for the world, she said.
Xi lauded Rousseff as an outstanding representative of China’s old friends and good friends who have shared the same aspirations and stood together with the Chinese people over the past 75 years and vowed that China will never forget such international friends.
The Chinese people are ready to join hands with people from all over the world to safeguard world peace, promote common development and advance the building of a community with a shared future for mankind to create a better future for humanity, he said.
https://news.cgtn.com/news/2024-09-29/China-honors-individuals-with-highest-awards-ahead-of-National-Day-1xhS1SaZeZa/p.html
View original content:https://www.prnewswire.co.uk/news-releases/cgtn-china-honors-individuals-with-highest-awards-in-celebration-of-75th-national-day-302261867.html
HANGZHOU, China, Sept. 29, 2024 /PRNewswire/ — On September 26, a delegation from the Ministry of Digital Development, Innovations and Aerospace Industry of the Republic of Kazakhstan, led by Minister Madiyev Zhaslan, visited SUPCON. SUPCON’s Chairman and President, Mr.Cui Shan, warmly welcomed the delegation.
The Kazakhstan government representatives expressed their appreciation and recognition of SUPCON’s expertise and innovation in intelligent manufacturing, digital transformation, and industrial AI.
Madiyev Zhaslan expressed a strong interest in industrial AI technologies of SUPCON, particularly their applications in intelligent and low-carbon facilities. He looks forward to exploring extensive collaboration with SUPCON across various sectors in Kazakhstan.
Cui Shan emphasized that as a leading industrial AI company with a global presence, SUPCON will leverage its technological advantages to meet Kazakhstan’s industry development requirements and trends, injecting new momentum into the country’s industrial digitalization.
In 2023, SUPCON established a subsidiary in Kazakhstan as its Central Asia regional headquarters and set up a localized operational system. SUPCON will continue to invest in the long-term development of the Central Asia region, contributing further wisdom and strength to the industrial digital transformation in Kazakhstan and beyond.
Photo – https://mma.prnewswire.com/media/2518470/image_5022684_18905906.jpg Photo – https://mma.prnewswire.com/media/2518471/1.jpg
View original content:https://www.prnewswire.co.uk/news-releases/kazakhstan-government-delegation-visited-supcon-302261857.html
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