Introduction

Men's Hair Health Market Size in the United States

[1] Market Size

• In 2021, the hair care market size in the US was worth US$13,287.77 million and is projected to grow at a CAGR of 2.18% from 2022-2027.
• In addition, the US market size for hair treatment and removal is valued at US$2,605.00 million in 2022.
• As per a Statista survey, the revenue generated in the hair care segment in the US totals US$12,910.00 million in 2022.

Additional Findings [Global Data]

[2] Number of Men in the US Using Men's Hair Health Products

• In 2020, 12.42 million Americans used hair regrowth products. This number is expected to increase to 12.94 million in 2024.

 

Source

 

• According to a survey conducted by Statista in June 2017, 51% of men use shampoo every day, 33% - multiple times a week, 7% - once per week, 2% two to three times a month, 1% - once per month, 2% - less often, and 3% - never. Therefore, using these percentages, the estimated numbers of men who use shampoo in the US are: [Find the calculations in the research strategy section]
• 82,038,310 - The estimated number of men who use shampoo daily in the US, i.e., 51% 
• 53,083,612 - The estimated number of men who use shampoo multiple times a week, i.e., 33% 
• 11,260,160 - The estimated number of men who use the shampoo once per week, i.e., 7% 
• 3,217,188 - The estimated number of men who use shampoo 2-3 times a month, i.e., 2% 
• 1,608,594 - The estimated number of men who use the shampoo once per month, i.e., 1% 
• 3,217,188 - The estimated number of men who use shampoo less often, i.e., 2% 
• 4,825,782 - The estimated number of men who never use shampoo in the US, i.e., 3% 

 

Source

 

Research Strategy

Calculations

• According to a survey conducted by Statista in June 2017, 51% of men use shampoo every day, 33% - multiple times a week, 7% - once per week, 2% two to three times a month, 1% - once per month, 2% - less often, and 3% - never.
• Therefore, to find an estimated number of men who use shampoo in the US. We calculated the numbers using the following formula:
• [(Percentage of men who use shampoo/100%) x 2017 men population] = number of men who use shampoo in the US
• However, in 2017, the population of men in the US was 160,859,432.
• Therefore:
• [(51/100)% x 160,859,432] = 82,038,310 - The estimated number of men who use shampoo every day in the US.
• [(33/100)% x 160,859,432] = 53,083,612 - The estimated number of men who use shampoo multiple times a week
• [(7/100)% x 160,859,432] = 11,260,160 - The estimated number of men who use the shampoo once per week
• [(2/100)% x 160,859,432] = 3,217,188 - The estimated number of men who use shampoo 2-3 times a month
• [(1/100)% x 160,859,432] = 1,608,594 - The estimated number of men who use the shampoo once per month
• [(2/100)% x 160,859,432] = 3,217,188 - The estimated number of men who use shampoo less often
• [(3/100)% x 160,859,432] = 4,825,782 - The estimated number of men who never use shampoo in the US.

Key Takeaways

• The US dietary supplement market size was worth $48.48 million in 2021.
•  68% of males in the US take dietary supplements.
• The number of men in the US that takes dietary supplements is 11,715,435.

Introduction

Market Size by Value

• According to Grand View Research, the US dietary supplement market size was worth $48.48 million in 2021.
• The market is projected to grow at a compound annual growth rate (CAGR) of 5.6% from 2022 to 2030.
• The rising personal health and wellbeing awareness among consumers is one of the key drivers of the market.
• Increasing demand for health products that helps to prevent diseases and promote healthy living, as well as growing number of health clubs, gymnasiums, and fitness centers are also expected to drive growth in the market within the forecast period.

 

Source

 

Market Size by Number of People

• According to the 2020 CRN Consumer Survey on Dietary Supplements, 68% of males in the US take dietary supplements.
• The most recent statistics from US Census Bureau states that there are 331,893,745 in the US and 50.5% are female.
• This means the number of men in the US = 331,893,745 * (100 - 50.5)% = 331,893,745 * 49.5% = 164,287,404.
• Hence, the number of men in the US that takes dietary supplements = 164,287,404 * 68% = 111,715,435.

 

Source

 

Research Strategy

Introduction

US Men's Health Diagnostics Market Size

• According to a recent report released by ResearchandMarkets in July 2022, the market size of the US Men's Health Diagnostics market was estimated at $2,297.84 million in 2021 and is expected to reach $2,481.75 million in 2022. The market size in terms of the number of people was unavailable in the public domain.
• Additionally, the US Men's Health Diagnostics market is estimated to grow at a CAGR of 10.00% over the next five years to reach $4,070.89 million by 2027. Also, compared to the global Men's Health Diagnostics Market size of $10,748.44 million in 2021, the US market constitutes almost 21% (2297.84/10748.44*100) of the global market share.

 

Source

 

• As indicated above, the total market size of the US Men's Health Diagnostics Market or the overall US Health Diagnostics Market in terms of the number of people was unavailable publicly. However, a statistic from the American Clinical Laboratory Association (ACLA) indicates that more than 7 billion clinical lab tests are performed annually in the US. These tests provide invaluable health data for a relatively small expenditure.
• According to a report by IBIS World, currently, there are around 29,151 Diagnostic & Medical laboratories in the US, an increase of 2.3% from 2021. At the state level, California (2,401 businesses), Florida (1,691 businesses), and Texas (1,574 businesses) lead the list of states with the highest number of Diagnostic & Medical laboratories in the US.
• A recent national survey conducted in early May 2022 in the United States indicated that nearly 33% of American men do not feel the need for yearly health diagnostics, and almost 65% of men believe that their health is better than others. Additionally, nearly 40% of the men interviewed in the survey relied upon social media to get their medical advice.
• Some key industry players operating in the United States Men's Health Diagnostics Market include Aurobindo Pharma, Access Pharmaceuticals, Inc., Boston Scientific, Advanz Pharma, ASKA Pharmaceutical Co., Intas Pharmaceuticals Ltd., CordexPharma, Inc., Eli Lilly and Company, Pantarhei Bioscience BV, Pfizer, Teva Pharmaceuticals, Trophogen, Inc., and ZydusCadila Healthcare Ltd., among others.
• According to another report by ResearchandMarkets on the overall medical diagnostics industry in the United States, Southern US is the fastest growing regional market. This is primarily due "to the rising susceptibility of the population to various chronic and infectious diseases, growing adoption of automation in reference laboratories and hospitals, increasing patient awareness about personalized medicine, and shifting preference towards point-of-care (POC) testing."

Research Strategy

Key Takeaways

• "According to research conducted by Global Industry Analytics, Inc., a market research company, the men's skincare market in the United States was valued at approximately $3.6 billion in 2020."
• "The estimated market size by the number of men, or the total addressable market, in the United States of the cosmetics of skincare products market is more than 19.18 million."
• "From 2015 to 2019, the men's skincare market in the United States expanded by around 8% annually, although the market experienced a noticeable decrease during the pandemic."

Introduction

Market Size - U.S. Men's Skincare Market

• According to research conducted by Global Industry Analytics, Inc., a market research company, the men's skincare market in the United States was valued at approximately $3.6 billion in 2020. Nevertheless, the organization also estimated that the market size in the United States reached about $3.4 billion for the year 2021.
• The men's skincare segment accounts for a significant share (at least one-third) of the overall men's personal care market in the United States, as of 2020 and 2021. It is expected to maintain a considerable share of the market over the next decade.
•  
  Source
   
• As indicated in the graph above, the compound annual growth rate of the overall men's personal care market in the United States from 2022 to 2030 is expected to reach 8.7%.
• From 2015 to 2019, the men's skincare market in the United States expanded by around 8% annually, although the market experienced a noticeable decrease during the pandemic. Nevertheless, the market is anticipated to grow at a compound annual growth rate of around 6% for a period of five years (post-2020).
• The estimated market size by the number of men, or the total addressable market, in the United States of the cosmetics of skincare products market is more than 19.18 million. [Calculations provided in the segment below labeled "Calculations"]

Additional Findings

• According to a survey conducted by Ipsos, around 15% of all heterosexual men aged 18 to 65 in the United States currently use cosmetics or skincare products. However, the survey also revealed that another 17% of men in that group are willing to consider utilizing cosmetics or skincare products some time in the future. Hence, up to 32% (15% + 17%) of heterosexual men aged 18 to 65 in the country may be willing to purchase and use skincare, cosmetics, or grooming products.
• In total, U.S. citizens purchased 271.08 million units of facial cleansers, 89.22 million units of acne treatments, 77.76 million units of facial moisturizers, 69.9 million units of facial anti-aging treatments, 22.77 million units of depilatories, 6.48 million units of fade/bleach, and 0.13 million units of body anti-aging treatments in the year 2021.
• As reported by L.E.K., there has been major growth in the estimated online search traffic regarding men's skincare. The search volume index for the category is currently between 65 and 70 (2021), which is remarkably higher than the 45 reported in 2020.

Research Strategy:

Calculations