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What is the size of the tattoo ink market in the US
Hi there!
Thank you for your question about the tattoo ink market size in the United States. The best resources I found to answer your question were Statistic Brain, B Plans, eHow, and How to Start an LLC. The short answer is that on average tattoo parlors in the US spend between $12,600,000 and $25,200,000 annually on tattoo ink. Below you will find a deep-dive of my methodology and calculations.
METHODOLOGY
I began by searching industry reports, academic databases, and government filings for any information on the amount of money spent on tattoo ink in the United States. With this, I was able to determine the dollar figure spent on tattoos in the United States annually. Additionally, I found the average price of a tattoo and the total number of tattoo parlors in the US. Following these results, I searched trusted news sources and company websites for business plans detailing the cost of tattoo ink for a tattoo business. Though a public dollar figure detailing the cost tattoo ink in the United States was unavailable, I was able to determine the average cost of supplies for a US tattoo parlor through B Plans, and they note that this cost is primarily made up of replenishing ink.
THE US TATTOO INK MARKET
Annually, the United States spends $1.65 billion on tattoos. Overall, the industry is valued at $3.4 billion per year. However, the statistics and reports that provided this information did not provide breakdowns of tattoo parlor expenditures on average. Because of that, I used back-of-the-envelope calculations to figure out what the size of the tattoo ink market is.
Statistic Brain reported that there are 21,000 tattoo parlors in the United States, and B Plans noted that "on the average, [a tattoo] establishment is being added in the country every day. . . . This translates into a tattoo parlor for at least every 10,000 adult Americans." How to Start an LLC, a resource for prospective business owners, provided a detailed list of anticipated expenses when starting a tattoo shop.
They explain that "you’ll go through a lot of gloves, ink, and cleaning supplies on a daily basis. When first starting out, artists report spending an estimated $600-$1,000 per year on supplies." The report states that the only "ongoing expenses are marketing and supplies," but the $600-$1,000 figure does not include marketing. Rather, ink accounts for the majority of a tattoo parlor's supply expenses. Another estimate from eHow said that "you'll pay a minimum of $100 per month to replenish supplies." This aligns closely with How to Start an LLC's high estimation of $1,000. That said, to get an estimate of the size of the tattoo ink industry, I took both ends of the spectrum ($600-$1200 annual) and calculated back-of-the-envelope numbers for the market size.
CALCULATIONS
If a tattoo parlor spends $600 per year on ink supplies, then the total amount spent on ink for that year (using the figure of 21,000 tattoo shops) is $12,600,000.
--600 x 21,000 = 12,600,000
If a tattoo parlor spends $1,000 per year on ink supplies, using the same calculations would make the total amount spent on ink $21,000,000.
--1,000 x 21,000 = 21,000,000
The information from eHow provided these results:
If a tattoo parlor spends $100 a month on ink supplies, then they would spend $1,200 a year on ink supplies. Assuming that every parlor spends the same average amount, then the total amount spent on ink for that year is $25,200,000.
--1,200 x 21,000 = 25,200,000
Based on these calculations, the market size of the tattoo ink industry is between $12,600,000 and $25,200,000.
ADDITIONAL INSIGHT
According to the "Global Tattoo Ink Market 2017 Manufacturers Analysis, Opportunities, and Growth Forecast to 2022," the top global players in tattoo ink industry are:
--Alla Prima Ink
--Arcane Tattoo Inks
--Bloodline & Skin Candy Tattoo Inks
--Dynamic Tattoo Inks
--Eternal Ink
--Fantasia Tattoo Inks
--Formula 51 Tattoo Ink
--Intenze Tattoo Ink
--Kuro Sumi Tattoo Ink
--Mom’s Ink by Millennium Colors, Inc.
--Panthera Black Tattoo Ink
--Radiant Colors Tattoo Ink
--Sacred Color Tattoo Inks
--Starbrite Colors
Of these top industry players, Dynamic Tattoo Inks, Intenze Tattoo Ink, Mom’s Ink by Millennium Colors, Inc., and Starbrite Colors are the top five US tattoo ink manufacturers.
Additionally, Statistic Brain found that 45 million Americans have a tattoo. The average cost of a small tattoo in the United States is $45, while the average cost of a large tattoo is $150 an hour. Authority Tattoo explains why "some tattoo prices add up to mere dollars, while other tattoos cost many thousands." It does not have to do with the cost of the ink, but rather the price of the artist.
The price of $45 on average for a small tattoo comes from parlors charging a minimum charge. Authority Tattoo explains that there is a minimum charge because "the artist is still going to be using brand new needles and sterilizing equipment on you," including ink.
CONCLUSION
In short, the tattoo ink market size is between $12,600,000 and $25,200,000. This range was calculated from information regarding the amount spent by tattoo parlors on supplies, which is primarily tattoo ink.
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