How much is the black hair industry worth 2020?
How much is the black hair industry worth 2020?
$2.5 billion
Mintel values the black hair care industry at more than $2.5 billion, but that statistic doesn’t include products such as hair accessories, wigs or electric styling products.
How big is the black beauty industry?
African-Americans possess $1.2 trillion in spending power, according to Nielsen and the Black hair care industry alone generates billions in annual sales, according to Essence.
What race spends the most money on hair?
Black Consumers
A new Nielsen report has confirmed what we’ve already known as Black consumers: there is power in the Black dollar. And, it is making more and more headlines.
How much do black people spend on hair care?
In 2017, Black consumers in the U.S. spent about 473 million U.S. dollars on hair care products….
| Characteristic | Average expenditure in million U.S. dollars |
|---|---|
| – | – |
Who dominates the hair industry?
In 2020, North America dominated the global hair wigs and extensions market with a share of over 40%. The African and Caucasian descent population in the region is the major contributor to the sale of human and synthetic hair wigs.
What race buys the most beauty products?
Black Americans
According to a study by market research company Nielsen, Black Americans bought more beauty products in 2019 than any other group of consumers. To put that in context, they found that Black Americans outspent other groups by nearly 19 percent, which translates to $572.6 million.
Who was the first Black esthetician?
Although Madam C. J. Walker’s legacy is often centered around haircare, she was one of the first Black skincare entrepreneurs, and was directly trained by the first Black skincare entrepreneur, Annie Malone.
How much is the hair weave industry worth 2021?
KEY MARKET INSIGHTS The market is projected to grow from USD 2.38 billion in 2021 to USD 3.43 billion in 2028 at a CAGR of 5.3% in the 2021-2028 period.
How much is hair worth on the black market?
According to the BBC “a bunch of good quality hair costs between $ 4,000 and $ 5,000 US dollars.”
What race wears the most makeup?
Overall, Hispanic women are the most likely to use makeup. The number is more than 86 percent across all age groups. “I think it relates to a cultural point of view about femininity and dressing up,” Grant said.