1. Overview of the hair market in Nigeria
1.1. Nigeria’s Booming Hair Industry
Nigeria ranks in the top 15 countries importing the most hair in the world in 2020. The Booming Hair Market in Nigeria is primarily driven by Asian corporations that supply synthetic and real human hair for everything from wigs to weaving. On the contrary, local players have recently begun to catch up in this highly competitive industry. In an industry dominated by Asian-based enterprises, wigs and weaves have become the most significant money-makers in Nigeria. Experts attributed the growth of rising population, urbanization, expansion of modern retailing and adoption of natural products.
1.2. Main features of Wholesale Hair Vendors in Nigeria
1.1.1. The origin of the Nigeria Hair Extensions
Wholesale hair vendors of the hair market in Nigeria frequently have two main sources: imported hair and local hair. Each main variety from Nigerian wholesale hair suppliers has a distinct origin.
- Imported hair from wholesale hair sellers in Nigeria is frequently sourced from large-scale hair vendors in Asia (Vietnam, India, and China).
- Local hair is acquired from black women in Nigeria by wholesale hair merchants.
1.1.2. Main type of Nigeria Hair extensions
Wig and Weave are the most common types of hair extensions in Nigeria.
1.1.3. Exported area of Nigeria Hair extensions
Nigeria exports a large of human hair to African, European, and North American countries.
1.1.4. Quality of Nigeria Hair extensions
There is a significant difference in hair quality between other countries and Nigerian hair for the hair market in Nigeria.
Local hair from wholesale hair merchants in Nigeria is typical of poor quality, being exceedingly dry, coarse, and short. That is because the original character of African women’s hair to wholesale human hair distributors in Nigeria is curly or going up, the strands are thick, and their hair is easily broken.
Imported hair, on the other hand, is of greater grade. So it is smoother and more flexible, and it may style, color, and bleach to a variety of hues.
1.1.5. The cost of Nigeria hair extensions
The price from wholesale human hair distributors in Nigeria is affordable and in line with the quality. The cost of wholesale human hair distributors in Nigeria is determined by the type of hair desired.
- Imported hair: Because the sector is so huge, overseas hair wholesalers offer Wholesale Hair Vendors in Nigeria for a variety of rates, depending on the quality. For high-quality hair extensions, wholesale human hair distributors in Nigeria provide very affordable prices.
- Local hair: Because most Nigerian women have such short hair, the supply is restricted and unstable. This difficulty has increased the cost too exorbitant levels.
2. Compare and contrast the current state of Nigeria’s hair industry and the situation 10 years ago, what has changed?
2.1. Supplier country
Previously, the hair suppliers of the hair market in Nigeria mostly came from China and India, which accounts for 99%.
However, lately, suppliers from other countries stand out as Vietnam, with affordable prices and superior quality, have entered this potential industry.
2.2. Dollar rate
The hair market in Nigeria imports hair in dollars; nevertheless, the current dollar exchange rate poses various obstacles for hair wholesalers, such as high import expenses.
About 10 years ago, one dollar was 150 Naira, but it is now three times as expensive. One dollar currently equals approximately 700 Naira. That means the current cost of hair extension imports into Nigeria raises five times more than 10 years ago.
3. The opportunities of the hair industry in Nigeria
3.1. Significant demand for hair extensions
Nigerians have significant purchasing power for hair extensions for a variety of reasons:
- Nigerian hair is naturally rough and curly. If they want to change their hairstyle, dying or straightening their hair will take a long time. As a result, they decided to use hair extensions.
- Nigerians have many holidays throughout the year, and this is an opportunity for them to flaunt their beauty. In fact, the women in Nigeria change their hairstyles from 6 to 12 times every year on average. As a result, it is vital to learn how to create hair extension operations in the country as soon as possible. Because hair extensions are so popular in this country.
- Hair extensions are popular not just with Nigerian women, but also with Nigerian men. Hair loss, leading to baldness, is common in businessmen over the age of 50. As a result, they choose hair extensions to enhance their image when meeting customers. Indeed, Nigerians have such a huge need for hair extensions that many people are looking into how to start a hair extensions business in Nigeria.
3.2. High profit
According to statistics, hair vendors in Nigeria can earn nearly double or even triple the money that they spend to purchase hair extensions from original hair factories or hair vendor suppliers, which is not a little amount for anyone running a business, not just a hair business in the world. Therefore, many new participants have entered the hair market in Nigeria, which is creating a significant chance for this market to grow rapidly in the future.
To summarize, Nigerian wholesale hair vendors have a great chance of making a fortune because the hair market in Nigeria is exceptionally large and has a strong financial ability. So, All you have to do is choose a proper path, which includes selecting a hair vendor for wholesale human hair extension distributors in Nigeria who guarantees the greatest hair quality at a reasonable cost.
Ankahair’s Vietnam Hair products are 100% real human hair that is smooth and lustrous, so they are of the highest quality, long-lasting, and tangle-free, and they will give you the luscious Vietnam hair you desire. Anka Hair has a knowledgeable and customer-focused workforce, and we believe you will be satisfied not only with our Vietnamese hair products but also with the commitment of the company.