Glueless Wigs Market to Reach $1.3 billion, Globally, by 2032 at 6.3% CAGR: Allied Market Research

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18 Sep, 2023, 10:14 ET

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The growth of glueless wigs market is driven by the growth in hair fall rate among men & women and rise in use of glueless wigs in entertainment industry.

PORTLAND, Ore., Sept. 18, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Glueless Wigs Market by Product Type (Synthetic Wigs, Human Hair Wigs, and Animal Hair Wigs), Application (Personal and Commercial), and Distribution Channel (Specialty Stores, Hair Salons, Online Sales Channel, and Others): Global Opportunity Analysis and Industry Forecast, 2023–2032". According to the report, global glueless wigs market was valued at $719.2 million in 2022, and is projected to reach $1.3 billion by 2032, registering a CAGR of 6.3% from 2023 to 2032.

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The popularity of glueless wigs among people of all ages & genders is increasing rapidly. Glueless wigs come pre-attached with combs, bands, and straps for attachment to your head. This type of wig is very easy to fix and remove.

Prime determinants of growth

The rising level of hair fall rate in men and women have significantly driven the growth of glueless wigs market. The glueless wigs industry has huge opportunities from entertainment sectors owing to the rapid increase in demand for convenient glueless wigs from entertainers and actors.

Report coverage & details:

Report Coverage

Details

Forecast Period

2023–2032

Base Year

2022

Market Size in 2022

$719.2 Million

Market Size in 2032

$1,316.0 Million

CAGR

6.3 %

No. of Pages in Report

275

Segments covered

Product Type, Application, Distribution Channel, and Region.

Drivers

Upsurge in demand for natural and glueless wigs

Growth in hair fall rate among men and women

Rise in use of wigs in entertainment industry

Opportunities

Technological advances in production of wigs

Restraints

High cost of wigs

High competition from traditional wigs

The synthetic wigs segment to maintain its leadership status throughout the forecast period

Based on product type, the synthetic wig segment held the highest market share in 2022, accounting for more than half of the global glueless wigs market revenue and is estimated to maintain its leadership status throughout the forecast period. Recent advancements in technology have significantly enhanced the quality & aesthetic appeal of synthetic fibers, which has resulted in wigs that closely emulate natural hair. In addition, synthetic wigs offer a cost-effective alternative to human hair wigs and have broadened accessibility to a wider customer base. These wigs require minimal maintenance and come pre-styled, which thus saves time & effort for individuals who prefer versatile hairstyles. However, the human Hair Wigs segment held the major CAGR of 7.2% in 2032.

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The commercial segment to maintain its leadership status throughout the forecast period

Based on application, the commercial segment held the highest market share in 2022, accounting for nearly three-fifths of the global glueless wigs market and is estimated to maintain its leadership status throughout the forecast period. Within the entertainment & media industry, wigs occupy a significant position in various areas such as film, television, theater, and fashion shows. Their purpose is basically to bring authenticity & visual allure to characters, as well as to enable seamless transitions between different roles. Moreover, wigs serve as invaluable tools in the cosmetics & beauty sector, where they are utilized for product demonstrations, showcase of diverse hairstyles, and promotion of hair care products through impactful advertising campaigns. However, the personal segment held the major CAGR of 7.1% in 2032.

The specialty store segment to maintain its leadership status throughout the forecast period

Based on distribution channel, the specialty store segment held the highest market share in 2022, accounting for more than one-third of the global glueless wigs market and is estimated to maintain its leadership status throughout the forecast period. Specialty retailers hold a prominent position as key drivers of growth in the glueless wigs market. These retailers offer convenient access to a wide range of products, which facilitates the ease of customers to find wigs as required. Manufacturers actively prioritize the enhancement of the visibility of their diverse product portfolios on the shelves of specialty stores. Thus, these stores are able to offer customers a broader selection of glueless wigs. However, the online sales channel segment held the major CAGR of 8.0% in 2032.

North America to maintain its dominance by 2032

Based on region, North America held the highest market share in terms of revenue in 2022. The glueless wigs market in North America has witnessed significant sales growth, driven by factors such as increase in purchasing power of customers and rise in demand for synthetic hair wigs in colder climates owing to its nature of resistance to harsh climate. This dominance can also be attributed to the swift integration of synthetic lace front wigs among individuals undergoing chemotherapy, as well as the widespread acceptance of curl synthetic hair wigs among diverse populations within these regions. However, the Asia-Pacific region held the major CAGR of 7.9% in 2032 and is likely to dominate the market during the forecast period.

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Leading Market Players: -

The report analyzes government regulations, policies, and patents to provide information on the current market trends and suggests future growth opportunities globally. Furthermore, the study highlights Porter's five forces analysis to determine the factors affecting market growth. These factors include raw material prices, intense competition, end users, manufacturers, and suppliers. To understand the market, drivers, restraints, and opportunities are explained in the report.

Country Reports We Have in this Industry:• Canada Glueless Wigs Market Opportunity Analysis and Industry Forecast, 2022-2032• U.S. Glueless Wigs Market Opportunity Analysis and Industry Forecast, 2022-2032• Mexico Glueless Wigs Market Opportunity Analysis and Industry Forecast, 2022-2032• Europe Glueless Wigs Market Opportunity Analysis and Industry Forecast, 2022-2032• UK Glueless Wigs Market Opportunity Analysis and Industry Forecast, 2022-2032

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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SOURCE Allied Market Research