How attractive is selling wigs in the United States?

Wigs, artificial hair products, have played an important role in modern society. They grow on the human head in an unnatural way, but with their unique charm, they become an excellent choice for increasing hair volume, hiding hair loss, changing hairstyles and fashionable decoration. Whether for practical or aesthetic reasons, wigs have become an indispensable part of many people’s lives.

From the perspective of the industrial chain, the upstream of the wig industry involves many raw material suppliers, such as human hair, chemical fiber hair, hand-woven mesh, hair dye, etc. The quality and supply stability of these raw materials directly affect the product quality of midstream wig production and supply. The midstream link mainly includes the production and supply of wigs. There are many types of products, which can be divided into human hair wigs and synthetic wigs according to the production materials. They can also be divided into handmade wigs and mechanical wigs according to the production method. They can also be divided into full-head wigs according to the fixation method. Wigs, hair pieces, hair bundles, etc. Downstream, wigs are sold through various channels, including beauty care product hypermarkets, brand stores, and major e-commerce platforms, and finally reach consumers.

In recent years, with the rise of the “appearance economy”, more and more people have begun to pay attention to their appearance and image. Wigs are widely welcomed as a convenient and efficient way to enhance beauty. Not only does it save time on styling your hair, it also prevents damage to your hair. Therefore, the consumer demand for wigs in the market is growing rapidly. According to data released by Statista, the global wig market will reach US$7.62 billion in 2022, and it is expected that this value will continue to grow between 2023 and 2026, growing to US$13.28 billion by 2026. Among them, North America, represented by the United States, and Europe, represented by the United Kingdom, are the main revenue markets for the global wig industry.

The United States, as one of the world’s most important wig consumer markets, has particularly eye-catching wig consumption. According to a report released by the New Thinking Industry Research Center, the United States has always been the hardest hit area by hair loss problems. According to the American Hair Loss Association AHLA, the number of patients with alopecia in the United States exceeds 6.8 million, with the male hair loss rate reaching 38%, ranking eighth in the world. This makes the United States the world’s largest consumer of wigs. Among the wig consumer groups in the United States, African Americans account for a large proportion. This is mainly because black people’s hair is mostly stiff and curly, making it difficult to style in a variety of styles. Therefore, there is a greater demand for wig products with diverse styles, fashionable and beautiful.

However, despite the strong demand in the U.S. wig market, its supply is highly dependent on overseas imports. As the world’s largest producer of hair products, China occupies an important position in the production and export of wig products. According to data from the General Administration of Customs of China, China’s wig product export volume in 2022 will be 75,600 tons, with an export value of US$5.301 billion; from January to October 2023, China’s wig product export volume will be 6.91 trillion tons, with an export value of 4.599 billion US dollars. Dollar. Among them, the United States is the largest export destination of Chinese wig products, accounting for nearly 40%.

U.S. market analysts pointed out that wigs, as a convenient and efficient way to enhance beauty, have seen rapid growth in market demand in recent years. Among them, the United States has a huge population with hair loss and a strong consumer demand for hair products such as wigs. But in terms of supply, the U.S. wig market is still highly dependent on overseas imports, and China, as its largest source of imports, plays a pivotal role. As the wig market continues to expand and consumers’ pursuit of beauty continues to increase, the future development prospects of the wig industry will be broader.