Men's Hair Styling Products

Delivered April 2nd, 2019. Contributors: Varun N., Wycliffe O., Joseph N., Rachael A. and

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Men's Hair Styling Products, US Market Size

We estimate that the US men’s hair styling segment is valued at $362 million.
FINDINGS
We searched research reports, industry portals, and hair styling product manufacturer websites and annual reports for the market size of the hair styling industry in the US. However, as we were unable to find the required information precompiled, we used various data points across reports to triangulate an estimate.  
ESTIMATE 1
Estimates for share of shampoo category in the US hair care market:
Statista: 33%
Ken Research: 34%
Technavio: 35% 

Statista’s estimate for the market size of the shampoo category in the US is not significantly different from that of other agencies like Ken Research and Technavio. Statista estimates that the hair styling market has a 19.5% market share in the US hair care market. Assuming that men and women consume hair care products in the same proportion across product categories, the share of men’s hair styling products in the men’s hair care segment will be 19.5%. 

According to Euromonitor, the market size of the North American beauty and personal care industry is $93 billion. Assuming that US’ share in the North American beauty market is in the same as its share in GDP, the beauty and personal care market in the US is worth $81.25 billion (87.37%*93). Calculations for GDP share have been shown in the attached spreadsheet.

Euromonitor estimates that the US men’s beauty market is worth $6.9 billion. Therefore, the men’s share in the US beauty products market is 8.49% (6.9/81.25). For the purpose of triangulation, we have assumed that the men’s share in the US hair care market will be the same (8.49%).

According to Technavio, the US hair care market will grow at 2% to $13.06 billion in the period 2018-2022. Using Omni calculator, we determined that the 2017 market size of the US hair care industry would be $11.83 billion. Therefore, the men’s hair care market will be worth $1 billion (8.49%*11.83B) and the men’s hair styling market will be worth $195 million (19.5%*$1B).
ESTIMATE 2
The global hair styling market size is $18.46 billion. The share of the Americas in the global hair care market is 32.4%. For the purpose of triangulation, we have assumed that the share of Americas in the global hair styling market will also be the same. Therefore, the hair styling market in the Americas is valued at $5.98 billion (32.4%*$18.46B). 

Assuming that the US share in the Americas hair styling market will be the same as its GDP share, the US hair styling market will be worth $4.39 billion (73.35%*$5.98B). GDP share calculations are in the attached spreadsheet. The men’s share in this market is 8.49% (as calculated in estimate1). Therefore, the US men’s hair styling market is valued at $373 million (8.49%*4.39B). 
ESTIMATE 3
According to Zion Market Research, the global hair care market was worth $89.09 billion in 2017. Therefore, US’ share in this market will be worth $21.17 billion (73.35%*32.4%*89.09B). The US men’s hair care segment will be valued at $1.80 billion (8.49%*$21.17 billion) and the men’s hair styling category will be worth $351 million (19.5%*$1.8 billion).

As estimate 1 is significantly different from estimate 2 and 3, we have decided to ignore it. We used to average of estimates 1 and 2 $362 million ((351+373)/2). This average ($362 million) is our estimated market size for the US men’s hair styling segment.

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Mens' Hair Styling Product Manufacturers

We were able to identify the nine largest contract manufacturers of men’s hair styling products in the United States. Johnson & Johnson Co. is the largest manufacturer in the industry with estimated revenue of $81.5 billion. The company is followed by Procter & Gamble Co. and Henkel Corporation which have revenues of $66.83 billion and $22.41 billion respectively. Below, we have provided the names of the nine manufacturers, their website links, and the estimated revenues. 
METHODOLOGYIn order to locate the largest contract manufacturers of men’s hair styling products in the US, we began by searching through industry reports and market research on the top companies in the men’s hair care products industry. We found multiple precompiled lists of the top companies in the sector from different sources: Cosmetics Business, Allied Market Research, Grandview Research, and Digital Journal. We also found the top manufacturers (brands) that supply men’s hair styling products as listed by Amazon. Based on the listed companies, we selected those that are located in the United States. 

We then searched for the estimated revenue for each of the companies using financial databases including Crunchbase, Owler, Craft, and Reuters, and based on this information we were able to identify the top nine manufacturers in the US. These include Johnson & Johnson Co., Procter & Gamble Co., Henkel Corporation, Neutrogena Corporation, Aveda Corporation, Revlon Corporation, Baxter of California (a subsidiary of L’Oréal Company), American Crew, and Just for Men.
Johnson & Johnson CO.  WEBSITE LINK 
ESTIMATED REVENUE: $81.5 billion  
Procter & Gamble CO. WEBSITE LINK 
ESTIMATED REVENUE: $66.83 billion
Henkel Corporation  WEBSITE LINK 
ESTIMATED REVENUE: $22.41 billion 
Neutrogena Corporation  WEBSITE LINK 
ESTIMATED REVENUE: $261 million 
Aveda Corporation  WEBSITE LINK 
ESTIMATED REVENUE: $11.8 billion 
Revlon Corporation  WEBSITE LINK 
ESTIMATED REVENUE: $2.56 billion 
Baxter of California (L’Oréal) WEBSITE LINK 
ESTIMATED REVENUE: $39.2 million 
American Crew  WEBSITE LINK 
ESTIMATED REVENUE: $16 million  
Just for Men  WEBSITE LINK 
ESTIMATED REVENUE: $10 million  

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Price Per Ounce, Men's Hair Styling Products

On average, men spend $6.58 for an ounce on hair styling products based on an evaluation of different hair styling products for men. For instance, the average cost of an ounce of men's clay and pomade is $7.78, following an analysis of ten different men clay and pomade products. Accordingly, the average price per ounce for men’s hair cream is $4.48, wax $8.43, gel $6.97, and hair spray $5.23. Using these averages, we can determine the average price per ounce for men's hair styling products in the U.S. as:

Clay and pomade — $7.78
Hair cream — $4.48
Men's hair wax — $8.43
Men's hair gel — $6.97
men's hair spray — $5.23

Therefore, the average is calculated by adding total averages for different categories, then dividing their total value by the total number of the categories, which is five. Thus,

$7.78 + $4.48 + $8.43 + $6.97 + $5.23 = $32.89
$32.90 ÷ 5 = $6.58

The research strategy below outlines the search processes and analyses performed to determine the average price per ounce for men's hair styling products indicated above based on the average selling prices by quantity (oz.) of men's hair styling gel, cream, spray, wax, clay and pomade product categories.
RESEARCH STRATEGY
In determining the average price per ounce for men’s hair styling product in the U.S., we started by reviewing hair product manufacturer websites, industry reports, and news articles on the same. Reports examined were from top publishers such as Grand View Research, Market Research Future, Mordor Intelligence, Euromonitor, Technavio, Forbes, and Statista. These sites contained information on general market data such as market size, market segmentation by products, key players, and main products. The aim was to retrieve detailed pricing information and the different pricing strategies adopted by the key players. Unfortunately, exhaustive search attempts could not find such information specific to the average price for an ounce for men’s hair styling products.

Next, we shifted focus from market reports and industry data to information regarding men’s lifestyles. To that end, we searched through credible lifestyle platforms such as GQ, Men’s Room Barbershop, Mel magazine, True Sons, Gear Hungry, Men’s Health, Esquire, Wired, Men's Journal, and Vogue. However, in-depth searches did not find any information on the price per ounce for men’s hair styling products such as clays, pomade, hairsprays, creams, and gels. Therefore, we opted to use the average prices of 10 popular products under each category to triangulate the average price per ounce.
TRIANGULATION STRATEGY
Our triangulation efforts included an evaluation of multiple sources. Data that we considered included product reviews of luxurious and budget-friendly products and the associated price ranges for different brands. Also, common hair products mentioned most across multiple sites and sources were considered, and their prices used to triangulate the estimated average price per ounce for men’s hair styling products. It was important to sample several products in determining the averages for each category; hence, at most ten different brands were analyzed to estimate the average for each product category.
CALCULATIONS, FORMULA, & ASSUMPTIONS
For each product category, ten different brands are included with pricing based on ounces. Therefore, to determine the average retailing price per ounce for the hair product, the price for each product/brand is divided by its quantity to establish the average price per one unit (ounce).

As noted above, the formula has been applied to all the products below to avoid repetitions and redundancy. Therefore, each product brand identified features the selling price based on its quantity, and then the average price per ounce.

Then all prices per ounce for men’s hair styling products were added together then divided by their total number to determine the average price per ounce for men’s styling hair products per category.

It was also assumed that budget products and luxury products prices per ounce differ on upper and lower quartile price ranges of the five product categories. Therefore, four products from the upper and lower quartiles were considered in the calculations to determine the accurate average.
1. CLAY AND POMADE 
American Crew pomade sells at $10 for 3 oz.; thus, an ounce sells for $3.33
Suavecito’s Firme Hold sells at $12.99 for 4 oz.; thus, an ounce sells for $3.25
BYRD Hairdo Classic Pomade sells at $22 for 3 oz.; thus, an ounce sells for $7.33
OUAI Matte Pomade sells at $24 for 1.7 oz.; thus, an ounce sells for $14.12
Blind Barber 101 Proof Classic Pomade sells for $20 for 2.5 oz.; thus, an ounce sells for $8
Baxter of California Clay Pomade sells for $23 for 2 oz.; thus, an ounce sells for $11.5
Malin + Goetz Hair Pomade sells for $24 for 2 oz.; thus, an ounce sells for $12
Kevin Murphy Rough Rider Clay sells for $34 for 3.4 oz.; thus, an ounce sells for $10
Layrite Deluxe Original Pomade sells for $17 for 4 oz.; thus, an ounce sells for $4.25
Imperial Barber Classic Pomade sells for $22 for 6 oz.; thus, an ounce sells for $3.67

Budget products price per ounce from 4 products (lower quartile)
$3.33 + $3.25 + $3.67 + $4.25 = $14.5
$14.5 ÷ 4 = $3.63

Luxury products price per ounce from 4 products (upper quartile)
$14.12 + $12 + $11.5 + $10 = $47.7
$47.7 ÷ 4 = $11.93

Average price per ounce
11.93 + $3.63 = $15.56
$15.56 ÷ 2 = $7.78

Therefore, the estimated average price per ounce for men’s clay and pomade products in the U.S. is $7.78.
2. Hair Cream
AXE natural look understated hair cream sells for $7 for 2.64 oz.; thus, an ounce sells for $2.65
Fatboy hair boss dog styling cream sells for $21 for 3.4 oz.; thus, an ounce sells for $6.18
Baxter of California hair styler cream for men sells for $20 for 3.4 oz.; thus, an ounce sells for $5.89
Jack Black — sleek finish texture cream sells for $15 for 3.4 oz.; thus, an ounce sells for $4.41
D-fi D-struct pliable molding crème sells for $19 for 5.3.oz.; thus, an ounce sells for $3.58
Smooth Viking hydrating fiber cream sells for $12 for 2 oz.; thus, an ounce sells for $6
American Crew forming cream sells for $15 for 3 oz.; thus, an ounce sells for $5
American Crew fiber cream sells for $16 for 3.3 oz.; thus, an ounce sells for $4.85
V76 by Vaughn grooming cream sells for $20 for 5 oz.; thus, an ounce sells for $4
Esquire grooming thickening cream sells for $20 for 8 oz.; thus, an ounce sells for $2.5

Budget products price per ounce from 4 products (lower quartile)
$2.5 + $2.65 + $4.41 + $4.41 = $12.73
$12.73 ÷ 4 = $3.18

Luxury products price per ounce from 4 products (upper quartile)
$6.18 + $5.89 + $6.0 + $5 = $23.07
$23.07 ÷ 4 = $5.77

Average price per ounce
$3.18 + $5.77 = $8.95
$8.95 ÷ 2 = $4.48

Therefore, the estimated average price per ounce for men’s hair cream products in the U.S. is $4.48.
3. Wax Teddy Boy Matte Wax sells for $20.00 for 4.5 oz.; thus, an ounce sells for $4.44
Hanz de Fuko Claymation sells for $23.00 for 2 oz.; thus, an ounce sells for $11.5
Hanz De Fuko 'Hybridized' wax sells for $23.00 for 2 oz.; thus, an ounce sells for $11.5
TIGI Bed Head workable wax sells for $10 for 2.65 oz.; thus, an ounce sells for $3.77
Prorituals Hair wax for men sells for $14.00 for 2 oz.; thus, an ounce sells for $7
Saturdays NYC wet wax sells for $24.00 for 1.7 oz.; thus, an ounce sells for $14.12
AXE Matte wax sells for $14.00 for 2.64 oz.; thus, an ounce sells for $5.30

Budget products price per ounce from 4 products (lower quartile)
$3.77 + $4.44 + $5.30 = $13.51
$13.51 ÷ 3 = $4.50

Luxury products price per ounce from 4 products (upper quartile)
$14.12 + $11.5 + $11.5 = $37.12
$37.12 ÷ 3 = $12.37

Average price per ounce
$$4.50 + $12.37 = $16.87
$16.87 ÷ 2 = $8.43

Therefore, the estimated average price per ounce for men’s hair wax products in the U.S. is $8.43.
4. Hairspray including sea salt sprays
Parlor by Jeff Chastain Moisturizing Sea Salt Spray sells for $24 for 4.9 oz.; thus, an ounce sells for $4.9
Sachajuan Ocean Mist spray sells for $31 for 5 oz.; thus, an ounce sells for $6.2
Blind Barber Sea Salt Spray 40 Proof sells for $18 for 6 oz.; thus, an ounce sells for $3
Kevin Murphy Thick Again sells for $36 for 3.4 oz.; thus, an ounce sells for $10.59
Ssanai Hair Setter Spray sells for $18.00 for 6.7 oz.; thus, an ounce sells for $2.69
Oribe Super Fine Hair Spray sells for $36 for 9 oz.; thus, an ounce sells for $4

Budget products price per ounce from 4 products (lower quartile)
$2.69 + $4 + $3 = $9.69
$9.69 ÷ 3 = $3.23

Luxury products price per ounce from 4 products (upper quartile)
$10.59 + $6.2 + $4.9 = $21.69
$21.69 ÷ 3 = $7.23

Average price per ounce
$3.23 + $7.23 = $10.46
$10.46 ÷ 2 = $5.23

Therefore, the estimated average price per ounce for men’s hairspray including sea salt sprays in the U.S. is $5.23.
5. Gel 
American Crew’s firm hold styling gel sells for $17 for 33.8 oz.; thus, an ounce sells for $0.50
R+Co motorcycle flexible gel sells for $28 for 5 oz.; thus, an ounce sells for $5.6
Bumble and Bumble Sumo gel sells for $24 for 1.5 oz.; thus, an ounce sells for $16
Jack Black body-building hair gel sells for $14 for 3.4 oz.; thus, an ounce sells for $4.12
Oribe Rock Hard Gel sells for $42 for 3.4 oz.; thus, an ounce sells for $12.35
Martial Vivot Gel sells for $28 for 4.2 oz.; thus, an ounce sells for $6.67
TIGI Bed head for men power play sells for $8 for 6.76 oz.; thus, an ounce sells for $1.18
Johnny B. Mode styling gel sells for $18 for 6.7 oz.; thus, an ounce sells for $2.69
Krieger + Söhne premium styling hair gel sells for $15 for 7 oz.; thus, an ounce sells for $2.14
Paul Mitchell Men gel sells for $15 for 5.1 oz.; thus, an ounce sells for $2.94

Budget products price per ounce from 4 products (lower quartile)
$0.50 + $1.18 + $2.14 + $2.69 = $6.51
$6.51 ÷ 4 = $1.63

Luxury products price per ounce from 4 products (upper quartile)
$16 + $14.12 + $12.35 + $6.76 = $49.23
$49.23 ÷ 4 = $12.31

Average price per ounce
$12.31 + $1.63 = $13.94
$13.94 ÷ 2 = $6.97

Therefore, the estimated average price per ounce for men’s hair gel in the U.S. is $6.97.

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Demographic & Psychographic Data, Men's Hair Styling Products

A significant number of men, approximately 81.9%, in the US use hair styling products. Some of the most popular products include gels, wax, mousse, and sprays. Usage is higher among younger men, at 42%, compared to older men, at 6.7%. Below is a methodology that we used to find some of the figures presented in this research.
METHODOLOGYDuring our research, we managed to find statistics relating to the usage of various men’s hair styling products by men in the US. However, to find the estimated number of men who use men’s hair styling products we found the average percentages for each age group and : 

18-29 years old: 49%+43%+42%+38%=171/4 = 42%
30-59 years old: 42%+34%+31%+26%=133/4= 33.2%
60 years and older: 9%+11%+6%+1%=27/4= 6.7%

We then found the total of all these percentages: 42%+33.2%+6.7%=81.9%
This, therefore, represents the total number of men in the US using various men’s hair styling products.  
THE NUMBER, DEMOGRAPHICS, AND PSYCHOGRAPHICS OF MEN IN THE US USING MEN’S HAIR STYLING PRODUCTSSome of the popular men’s hair styling products include sprays, mousse, gel and hair wax. Users of these products range between the ages of 18 and 60, this represents 85.97% of men. An estimated 81.9% of men use various hair styling products. This can be broken down based on age group as follows: 

18-29 years old: 42%
30-59 years old: 33.2%
60 years and older: 6.7%

Below is a breakdown of the usage of different products across various age groups.
Gel18-29 years old: 49% 
30-59 years old: 42% 
60 years and older: 9% 
Spray18-29 years old: 43% 
30-59 years old: 34% 
60 years and older: 11% 
Mousse18-29 years old: 41% 
30-59 years old: 31% 
60 years and older: 6% 
Wax18-29 years old: 38% 
30-59 years old: 26% 
60 years and older: 1% 

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Men's Hair Styling Products, Sales Channels

Some common channels for the sales of men’s hair styling products in the US include online platforms like the various product websites and stores like Amazon. Sales from retailers like Target and hair care salons are also popular. However, we could not find the statistical breakdown of the sales of men’s hair styling products in the US. Below is a methodology that we used in an attempt to get all the required information. 
METHODOLOGYInformation on the most common channels for sales of men’s hair styling products was obtained from statistics websites, credible industry publications and the websites of companies involved in the sector. We managed to identify one company in the sector and focused on the marketing strategy that it used to gain significant sales. This information was complemented with a report from GlennCorp which stated the popularity of salons in selling luxury products. Finally, we turned to Target to identify if hair styling products were available in their physical stores. 

The first strategy we used in an attempt to find information on the statistical breakdown of men’s hair styling products in the US was to check in research platforms like IBIS. From this resource, we were able to find a report on salons, but this only provided vague details on salon-related merchandise sales. We, therefore, disregarded this report since it did not contain any information on hair products for men. The second strategy was to focus on credible publications like the Wall Street Journal and Forbes. Our intention was to find articles or press releases that might contain any relevant statistical breakdown. However, this source only provided data on trends in the beauty industry. 

The next strategy was to check for reports that have been purchased by various retailers of men’s hair care products. Some resources we looked at include Report Linker, Public Insight, Dove and Garnier. This strategy was also futile since the only useful resource was locked behind a paywall. Our final strategy was to widen our search to the global hair care product industry. In this case, we were interested in reports that might contain information comparing the sales in the US with other parts of the world, with a special focus on men’s hair styling products. Once again, the only resource that seemed to have relevant information was locked behind a paywall. Our conclusion is that there is limited information on the statistical data relating to sales of hair care products for men in the US. This can be because there is limited research that has been conducted on the field since it is just blooming. 
COMMON CHANNELS FOR THE SALES OF MEN’S HAIR STYLING PRODUCTS IN THE USOne of the male short hairstyle products based in the US is ‘Self Cut System’ which has effectively used mobile and digital content marketing to grow its market to $2.5 billion. The company has taken advantage of social media platforms where happy clients showcase the outcome of using ‘Self Cut System’ products. Currently, the products of the company are only available online, on Amazon and the company website.

Across the hair care salon industry, there has been an overall increase in the sales of hair care products like conditioners, shampoos, hair sprays, specialty products, hair color and hair styling products. On the other hand, the growth of retail in salons for hair care products is mainly based on hair color protection products, new oil types, scalp/hair masks and treatments. There is also an increasing demand for hair coloring products among men. More men are becoming attracted to purchasing and using luxury beauty products. However, they will rely on feedback that has been provided on various products which have been purchased from both physical stores and online platforms.
OTHER USEFUL FINDINGSAcross the global, 25% of the demand for hair styling products is covered by spas and salons. One third of the market share of hair styling products consists of unisex products. However, the market share for hairstyle products for men is expected to increase significantly in the future. Online sales represent the platform with the highest global sales of hair care products. Another platform with high sales volume includes supermarkets and hypermarkets. Some consumer prefers purchases in supermarkets and drugstores because products in these outlets are cheaper compared to those found in high-end salons. Moreover, 7.2% of revenue in the salon industry in the US consists of merchandise sales of beauty products, and this includes nail and hair products. 

Did this report spark your curiosity?

Sources

From Part 01

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"The shampoo segment led the market in 2017 with a market share close to 35%, followed by the hair color and hair conditioner segments respectively. However, during the forecast period, the hair color segment is expected to show the highest growth."

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"The North American haircare market had total revenues of $16,920.4m in 2018, representing a compound annual growth rate (CAGR) of 3.6% between 2014 and 2018."

Hair care Market Drivers 2018; Deluxe Growth at a CAGR of 3.40% | By Product Hair Styling, Shampoo, Hair Colorant, etc. - Declares MRFR

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Global Hair Care Market Expected to Reach USD 110.70 Billion by 2024: Zion Market Research

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Quotes

"According to the report, global hair care market was valued at around USD 89.08 billion in 2017 and is expected to reach approximately USD 110.70 billion in 2024, growing at a CAGR of slightly above 3.15% between 2018 and 2024."