Toupee Market Analysis, Top Vendor and Competitive Landscape forecast by 2022

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.

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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.

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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.