The global Toupee Market is expected to witness significant growth over the forecast
period owing to rising awareness among people regarding different hair styles
and growing fashion industry. Furthermore, growing use of wigs and wigs
accessories for theatrical purpose and for covering partial baldness is
anticipated to propel the market growth over the next eight years. In addition,
the adoption of new technology has enabled the toupee manufacturers to imitate
desired hair style and to overcome the weakness of human hair, thus driving the
market growth over the forecast period.
A toupee is basically a hair replacement system, which is often
called as a wig. It is majorly used to cover up the baldness or to provide a
custom hair styling by using synthetic hair. This technique helps in
lengthening existing hair or covering partially exposed scalp by utilizing
bonding adhesives or hairpiece tape, thus augmenting the market demand over the
next eight years. In addition, custom toupee does not necessarily require any
surgical procedure owing to which it is expected to report positive growth over
the forecast period. Rising application of toupee products in fashion and personal
care industries coupled with growing awareness regarding its benefits among
people is further anticipated to augment the industry growth over the next
eight years.
The toupee market is highly competitive primarily to the presence
of several domestic and international suppliers. Though, the sector has the
presence of various new players, who face difficulty in competing with other
major companies in terms of functionalities, features, quality, and services.
Over the forecast period, the growing new product development activities
coupled with increasing adoption of new technologies for achieving operational
efficiency has enabled the competition to become more aggressive. On a
contrary, few major players through continuous R&D endeavors coupled with
growing expertise knowledge in the industry have enabled them to witness
competitive edge, thus propelling the overall growth of the sector over the
next eight years.
North America and Europe are anticipated to witness major market
share over the forecast period owing to the growing applications from fashion
industries and rising use for covering aging baldness. Particularly, the UK,
Germany, Italy, France and the US are projected to account for growth in the
region primarily due to rising rapid technological advancements used for
producing high-quality custom hair wig products, thus enabling the regions to
anticipate augmented demand. Asia Pacific is anticipated to account for fastest
growth over the forecast period primarily due to the growing adoption of toupee
wig products by females during theatrical shows and for personal care. Furthermore,
increasing application for lengthening hair coupled with growing demand for
synthetic hair implant without surgical operation is also expected to bolster
the market growth. India, China, and Japan are anticipated to witness the
highest share in the region majorly owing to the rising disposable income,
foreign investments in manufacturing industries and growing companies’
initiatives to bring its benefits among people.
The Middle East & Africa is projected to see significant
growth by 2020 mainly owing to increasing urbanization, industrialization, and
globalization. The sector has huge potential in this region primarily owing to
rising per capita income and foreign investments. Key players in the market are
highly consolidated having more than 30% market share by major companies. The
major large players generally tend to collaborate with smaller companies to
increase market share and competitive advantage. These market players through
continuous R&D endeavors focuses on building a wide distribution network
that supports the overall coupling market to report significant growth over the
forecast period. Companies through strategic expansions and mergers &
acquisitions have been trying to cater large volume of customers with products
that are cost-effective and high quality.
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