Growing Wigs Market in Canada

Introduction 

We have been witnessing a growth in global wigs market in last couple of decades, it has been growing quit consistently. Various research reports see this market growing at a CAGR 6.4% in next few years. As far as factors are concerned most of these research reports state factors like increasing prevalence of hair loss in adults along with rising demand of fashionable wigs along with fashionable hairpieces. Rising number of cancer patients is one big reason for rising demand of wigs globally as wigs are the most preferred option by cancer patient after their hair loss during or after treatment.

Demand in Canada

In Canada specifically, the demand for wigs has been steadily increasing in recent years. The Canadian Cancer Society estimates that over 100,000 Canadians are living with hair loss due to cancer treatment, and many of these individuals turn to wigs as a solution. Additionally, the growing popularity of cosplay, Halloween costumes, and other events where wigs are commonly used has also contributed to the growth of the wigs market in Canada. Numbers of wigs Canada as a country demands per year is quite amazing.

Market Size

According to Statistics Canada, the hair and beauty industry in Canada generates over $8 billion in revenue annually, and wigs and hairpieces are a significant component of this industry. In recent years, number of retailers and manufacturers of wigs Canada has is big considering the population. There are offline as well as online retailers that cater to the Canadian market. There are many online stores who are selling wigs in Canada and their numbers are impressive which clearly shows that they are doing well. Like in any sector there are big as well as small players both offline as well as online present and such is   growth in the industry that most of them are not just surviving but making real good profits. Reason behind success of these wig manufacturers is not just the growing sales but the margin aspect is also playing an important role here. Margins are quite good in wigs and hairpieces which even allows companies to provide great offers and discount to the consumers which leads to healthy competition in the market.

Conclusion

Overall, the growing demand for wigs in Canada can be attributed to factors such as the increasing prevalence of hair loss, fashion trends, and the availability of a wide range of high-quality wigs at affordable prices.