The global wig market was valued at $2.57 billion in 2023 and is expected to grow from $2.73 billion in 2024 to $4.57 billion in 2032, at a CAGR of 6.7% during the forecast period.
People around the world are gradually realizing how wigs can help improve the attractiveness of those who are dealing with hair loss issues.
They can be easily customized to meet the specific needs of users, help achieve multiple types of hairstyles without damaging the hair, and their ability to help achieve a realistic look increases utilization.
Due to the popularity of wigs as a fashion product, high consumption by female consumers around the world has helped to expand demand.
According to data released by Catalyst. According to data released in April 2020, in 2019, female consumer spending in various countries and regions around the world was $13.4 trillion in Asia, $6.4 trillion in the United States, $2.6 trillion in India, and $5.38 trillion in Europe.
Wigs are popular in domestic and foreign markets as the largest alternative to hair extensions.
Recent developments in the wig industry show that wigs are becoming more and more popular, especially in the United States.
For instance, in June 2021, WEAVE, a new California-based lifestyle brand, infiltrated the wig category by launching a line of wigs made by black women to uplift black consumers.
In December 2021, American actress, producer, and television host Vivika A. Fox entered a new career in hair entrepreneurship by launching her products nationwide, including a new line of glue-free wigs/extensions, aiming to sell her new line of human hair extensions internationally.
On a macro level, the growing popularity of natural-looking and customizable wigs made with premium materials has accelerated the sales of the product across countries.
Therefore, entering the wig industry now is a good choice to help boost your business.
