Wig & Hairpiece Stores in the US - Industry Market Research Report

New ‘do: improving disposable income will support demand for wigs and hairpieces

The Wig and Hairpiece Stores industry represents a niche product retailer within the haircare sector. Over the five years to 2023, industry revenue is projected to decrease at a CAGR of 1.0% to $631.7 million, including an increase of 0.7% in 2023 alone. The industry caters to two distinct consumer groups: individuals that purchase wigs and hairpieces for aesthetic purposes; and those that purchase cranial prothesis wigs, which are for people who have lost their hair due to a medical condition or treatment. As the economy has improved for most of the period, rising disposable income has encouraged consumers to invest in discretionary products, which, in turn, boosted demand for aesthetic wigs and hairpieces. Fewer individuals with private health insurance limited demand for the industry in 2021 and 2022. Rising wage and input costs have also led profit to decrease over the past five years.

This industry includes stores that primarily specialize in selling wigs, hairpieces and hair extensions for aesthetic and medical purposes. This industry does not include retailers that primarily provide wigs and hairpieces via electronic mediums.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry's key players and their market shares.