Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Global Synthetic Lace Front Wigs Market- Insights
Lace wigs are the type of wig in which synthetic hair or human hair is tied to a sheer lace base, which covers the scalp. There are the two major types of lace wigs available in the global market, including lace front wigs and full lace wigs. Lace front wigs have lace at the forehead which extend from ear to ear. This type of wigs provide an illusion of the natural hair line in the front. As the lace is only present in the front half of the wig, thus the wig allows the wearer to part hair, on any side. Further, lace front wigs are gaining popularity around the world as they provide more realistic appearance, offers versatility of hair parting and are more comfortable to wear, when compared with the full lace wigs. These are the factors, supporting the growth of the global lace front wigs market.
Further, synthetic hair wigs require less maintenance and are cheaper than human hair wigs, thereby, there is a growing demand for the synthetic lace front wigs market worldwide. In addition, the rising cases of hair thinning is considered as another key factor, supporting the growth of the global synthetic lace front wigs market. For instance, according to the data provided by the International Society of Hair Restoration Surgery (ISHRS) in 2012, around 35 million men, in the US were affected by male pattern baldness. ISHRS is a global non-profit medical association and the leading authority on hair loss treatment and restoration.
Figure 1. Global Synthetic Lace Front Wigs Market Share, By Region, 2017
In 2017, Europe contributed the sufficient share in the global synthetic lace front wigs market. This is attributed to the steadily growing technology which results in the improved synthetic-hair capabilities and thus, supports the growth of the synthetic lace front wigs market in the region. For instance, earlier the synthetic-hair wig were pre-styled. However, with the new fiber technology, the synthetic-hair are sustainable to heat and can be styled using curling irons.
In addition, the rising average age of the population is anticipated to fuel the market growth in the region, during the forecast period. As, older individuals are more prone to health conditions, which may result in hair loss. This in turn, is expected to propel the demand for wigs, as well. For instance, according to the data provided by the European Union, in January 2017, the median age of the EU-28’s population was reported as 42.8 years. Which represents that half of the population of EU-28 was older than 42.8 years in 2017. In Germany and Italy, the median age was 45.9 years, in 2017, according to EU.
Asia Pacific is anticipated to record the fastest growth in the global synthetic lace front wigs market during the forecast period, witnessing highest CAGR among all the regions. Rising disposable income and increasing penchant among consumers, towards maintaining their public appearance, is fuelling the growth of the market. Further, the growing accessibility of internet and the presence of various online providers such as Rebecca fashion, is fuelling the market growth of synthetic lace front wigs, in the region. Rebecca fashion is an online chain which provides wigs in china and currently the company have global presence with sales branches in U.K., Nigeria, Brazil and South Africa. Furthermore, according to the United Nations Industry Development Organization (UNIDO) in 2014, the total number of internet users in India stood at around 280 million and is also anticipated to increase to around 640 million by 2019. Thus, the rising internet penetration in the region, supporting the online sales of wigs and thus contributing in the overall growth of the synthetic lace front wigs market.
Key Players operating in the global Synthetic Lace Front Wigs market include Anhui Fortune Fashion Culture Co. Ltd., Henan Ruimei Hair Products Co. Ltd., Qingdao Urjoy wigs co.Ltd., Shake-N-Go Fashion, Inc. Yuzhou Shenlong Hair Products Co. Ltd., and Xuchang Dadi Industries Co. Ltd