Wigs Market To Gain From Technological Advancements

June 3, 2016

Wigs are manufactured using synthetic, animal, or human hair. Synthetic wigs have a higher market share on account of being produced cheaply. Wigs made from human or animal hair are more expensive than synthetic wigs.

Synthetic wigs could get damaged when exposed to heat, but recent technological advances have made it possible to use curling irons on these wigs to custom-style one’s hair. Wigs have been made popular by celebrities and have been in constant demand at theme or costume-based parties like Halloween.

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The wigs market is projected to earn revenues above USD 300 million. Expensive hair surgeries have led consumers to search for a feasible and economic option. This factor is expected to open up growth avenues for the market.

One major factor positively affecting the wigs market is alopecia or male pattern baldness. Females who are particularly religious, have undergone chemotherapy or suffer from hair thinning also prefer wigs.

Human wigs are of two types, hand-tied lace wig and machine-stitched weft wig. Weft wigs are sewn on stretch weft and embedded with back straps to suit various head sizes. Lace wigs are made from lace to which hair strands are attached. This makes them look natural. Such wigs can be made of full lace or partial lace front with a stretch weft back.

Types of hair used in manufacturing wigs are Indian, Chinese (or Malaysian), Indonesian (or Brazilian), and Caucasian (or European). European hair is the most expensive. Major wig manufacturers use Indian or Chinese hair. Indian hair is available easily due to of hair being readily donated at Venkateswara Temple at Tirumala, India.

Caucasian women prefer blonde hair, while women of African origins opt for hair extensions. Almost USD 19 billion is spent on hair care in the US, making it a lucrative market. However, domestic manufacturers in the US witnessed a decline in 2013, owing to the inflow of Chinese and Indonesian imports. Demand for wigs in US will increase due to high disposable earnings and rising expenditure on hair care & cosmetics.

Prominent manufacturers in the wigs market are HPH Corporation, iWig, Ragdoll Weave Co., Qingdao Jifa Group Co. Ltd., and Alex Rouse Wig Company. They produce hair extensions and hair weaves, in addition to wigs.

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