Men's Hair Styling Products, US Market Size

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US Market Size - Men's Hair Styling Products

Even though the requested market size is not readily available in the public domain, available figures on hair styling, hair care, and personal care suggest that the size of the market for men's hair styling products in the United States is around $890 million. Below, we explain in detail how we arrived at this estimate.

METHODOLOGY

In finding the requested market size, the first thing we did was check if market research firms have published reports on the United States market for men's hair styling products. We were unable to find such a report, however, and what we were able to find were the reports of Mordor Intelligence, Technavio, Future Market Insights, and Maximize Market Research on the global hair styling products market, and the reports of Inkwood Research and Grand View Research on the North American hair care market and the global hair care market, respectively. Grand View Research, Maximize Market Research, and Mordor Intelligence all provide information that can be used to estimate the United States hair styling products market.

To determine how the United States hair styling products market breaks down by gender, we conducted a press search and looked for articles or studies covering the distribution of sales or revenue of hair styling products by gender. With this step, we came across the press releases of Fact.MR and Future Market Insights that both offer insights into the growth of the global market for men's hair styling products. Unfortunately, the men's share of the United States hair styling products market could not be gleaned from these insights. We also checked if key players in the global hair styling products market have disclosed information on how their sales were distributed by gender, but our efforts were to no avail. Henkel, Procter & Gamble, and Unilever were among the companies we researched.

As a result, we broadened our search and researched possible proxies or substitutes. We started with the hair spray market as it is the biggest segment of the hair styling products market. The distribution of the hair spray market by gender could not be located in the public domain, however, so we proceeded to look at the broader market for hair care products. We did this for the following geographic areas: United States, North America, and global. The segmentation of the hair care products market by gender also does not appear to be publicly available, so we proceeded to research the even broader market for personal care products. Finally, with this step, we were able to find the percentage of the United States personal care market that is accounted for by men. As can be seen below, we used this percentage to estimate the size of the United States market for men's hair styling products, which include the following product categories: hair gel, hair mousse, hairspray, other styling products, styling creams and waxes, and styling spray.

UNITED STATES MARKET FOR HAIR STYLING PRODUCTS

ESTIMATE 1:

Grand View Research provides a bar chart that depicts the projected yearly breakdown of the United States hair care market by product. From this chart, the size of the United States market for hair styling products in 2019 can be estimated. As can be seen in our calculations below, by measuring the bars on the chart, we can estimate the size of the United States market for hair styling products in 2019 at $8.90 billion.

2015: 47 millimeters correspond to $46.48 billion
2019: 48.5 millimeters correspond to x, where x represents the size of the United States hair care market

($46.48 billion/47 millimeters) = x/48.5 millimeters
x = $47.96 billion

2019: 9 millimeters correspond to y, where y represents the size of the United States hair styling products market

y = $47.96 billion x (9 millimeters/48.5 millimeters) = $8.90 billion

ESTIMATE 2:

Maximize Market Research provides a bar chart that depicts the projected yearly breakdown of the global hair styling products market by region. From this chart, the size of the North American market for hair styling products in 2019 can be estimated. As can be seen in our calculations below, by measuring the bars on the chart, we can estimate the size of the North American market for hair styling products in 2019 at $9.24 billion.

2017: 9 millimeters correspond to $5.2 billion
2019: 16 millimeters correspond to x, where x represents the size of the North American hair styling products market

($5.2 billion/9 mm) = x/16 mm
x = $9.24 billion

Considering that Maximize Market Research also reports that hair spray dominates the hair styling products market and the United States accounts for over 89% of the North American hair spray market, we can assume that the United States also accounts for around 89% of the North American market for hair styling products. With this assumption, we can estimate the size of the United States market for hair styling products at $8.22 billion.

$9.24 billion x 89% = $8.22 billion

ESTIMATE 3:

Mordor Intelligence projects that the global market for hair styling products will grow at a CAGR of 3.9% to reach $9.8 billion by 2023. Given this forecast, we can compute the current size of the global market. As can be seen below, the size of the global market for hair styling products in 2019 can be estimated at $8.4 billion.

$9.8 billion/(1.039^4) = $8.4 billion

According to Mordor Intelligence, North America accounts for 37% of the global hair styling products market. Given that the size of the global market for hair styling products in 2019 is estimated at $8.4 billion, we can triangulate that the current size of the North American market for hair styling products is around $3.108 billion.

$8.4 billion x 37% = $3.108 billion

Considering that Mordor Intelligence also reports that hair spray dominates the hair styling products market and the United States accounts for over 90% of the North American hair spray market, we can assume that the United States also accounts for around 90% of the North American market for hair styling products. With this assumption, we can estimate the size of the United States market for hair styling products at $2.7972 billion.

$3.108 billion x 90% = $2.7972 billion

Our assumption is supported by Inkwood Research's finding that, in 2019, the size of the United States hair care market is around $13.5 billion, while the size of the Canadian hair care market is around $1.5 billion.

VERDICT:

The third estimate of $2.7972 billion is far lower than the first estimate of $8.90 billion and the second estimate of $8.22 billion. Given that the first estimate is close to the second estimate and the first estimate did not entail any assumption, we can assume that the first estimate is the most accurate of the three estimates.

UNITED STATES MARKET FOR MEN'S HAIR STYLING PRODUCTS

The breakdown by gender of the United States, North American, and global markets for hair styling products or hair care products could not be located in the public domain, and the only details available are a few insights about the growth of the global market for men's hair styling products. According to Fact.MR, men's interest in hair styling products is growing, and the market for men's hair styling products is expected to gain more attention in succeeding years. This trend is echoed by Future Market Insights, which reports that there will be "relatively higher traction for hair styling products for men over the course of coming years" and that "products for women will continue to witness moderately growing sales." Unfortunately, we could not determine from these statements how large men's share of the market is.

The closest information we could use in triangulating the United States market for men's hair styling products is the percentage of the United States personal care market that is accounted for by men. According to Mintel, the size of the United States personal care market for men was around $4.4 billion in 2017. Given that the size of the United States personal care market in 2017 was $44.040 billion, we can estimate that men's share of the country's personal care market then was around 10%.

($4.4 billion/$44.040 billion) x 100% = 9.99%

If we assume that men's share of the United States hair styling products market is also around 10%, we can compute that the size of the United States market for men's hair styling products is around $890 million.

$8.90 billion x 10% = $0.89 billion or $890 million

We understand that it would be ideal if a percentage specific to hair styling or hair care was used in the computation, but unfortunately, we could not find such percentage in the public domain.

Sources
Sources