The black hair care industry is a booming market, with African American consumers spending billions of dollars on products that cater to their unique needs.
According to Nielsen, the industry is estimated to be valued at $2.5 billion and 85% of African Americans report using hair care products specifically designed for their type of hair. Furthermore, Black consumers spend nine times more on haircare than other ethnic groups and sales in this sector have grown by 13% in 2020 alone.
This blog post will explore some key statistics about the black hair care industry including its value, consumer trends and product types as well as projections for future growth within this sector. We’ll look at data from sources such as The NPD Group, Mintel Research & Reports and HexaResearch among others so you can get an accurate picture of how much money is being spent in this area each year and what kind of impact it has had on the beauty landscape overall.
Black Hair Industry Statistics Overview
Black consumers spend nine times more on hair care products compared to other ethnic groups.
This statistic is a powerful reminder of the importance of the Black hair care industry. It speaks to the immense purchasing power of Black consumers and the impact they have on the industry. It also highlights the need for more diversity in the hair care industry, as Black consumers are clearly driving the market. This statistic is a testament to the strength of the Black hair care industry and its potential for growth.
Sales of relaxers in the black hair care industry dropped by 26.2% between 2010 to 2015.
This statistic is a telling indication of the state of the Black Hair Care Industry. It shows that sales of relaxers have significantly decreased over the past five years, suggesting that the industry is shifting away from chemical treatments and towards more natural hair care products. This shift in consumer preference is an important factor to consider when discussing the current state of the Black Hair Care Industry.
The global hair extensions market, a major part of the black hair industry, is expected to be valued at $2.8 billion by 2024.
This statistic is a testament to the immense potential of the Black Hair Industry. It shows that the market for hair extensions is growing rapidly, and is expected to reach a staggering $2.8 billion by 2024. This is a clear indication that the Black Hair Industry is a lucrative and profitable sector, and one that is worth investing in.
African American women spend an average of $54.14 on hair care products monthly.
This statistic is a testament to the importance of hair care to African American women. It speaks to the dedication and commitment they have to maintaining their hair, and the financial investment they make in doing so. It also highlights the potential of the Black Hair Industry, as it demonstrates the potential for growth and profitability.
Black consumers represent 25% of the ethnic hair care and beauty market.
This statistic is a powerful reminder of the immense influence Black consumers have in the ethnic hair care and beauty market. It speaks to the importance of recognizing the needs and preferences of this demographic, and the potential for businesses to capitalize on this market. It also highlights the importance of creating products and services that are tailored to the unique needs of Black consumers.
In 2019, styling products were the most popular hair care product type among African American women.
This statistic is a testament to the importance of styling products in the Black hair care industry. It speaks to the fact that African American women are not only investing in products to maintain their hair, but also to express their individual style and creativity. This statistic is a reflection of the growing demand for styling products, and the impact that the Black hair care industry is having on the beauty industry as a whole.
Hair care market sales among black consumers grew by 13% in the United States in 2020.
This statistic is a testament to the immense growth of the Black hair care industry in the United States in 2020. It highlights the importance of the industry to the Black community and the impact it has had on the economy. It also serves as a reminder of the importance of investing in Black-owned businesses and the potential for further growth in the future.
Hair wigs and extension sales are expected to reach over $10 billion globally by 2023.
This statistic is a testament to the immense growth of the Black Hair Industry. It shows that the demand for hair wigs and extensions is increasing rapidly, and that the industry is expected to reach a staggering $10 billion in the next few years. This is a clear indication that the Black Hair Industry is thriving and is becoming an increasingly important part of the global economy.
In 2020, 36% of African American women in the United States preferred natural hair over chemically treated hair.
This statistic is a powerful indicator of the growing trend of African American women embracing their natural hair. It speaks to the increasing demand for natural hair products and services, and the potential for growth in the Black Hair Industry. It also highlights the importance of representation and self-love in the African American community, and the need for more inclusive beauty standards.
The number of African American-owned beauty supply stores increased by 75% between 2014 and 2019.
This statistic is a testament to the success of African American entrepreneurs in the beauty supply industry. It shows that despite the challenges they face, African American business owners have been able to make significant strides in the industry over the past five years. This is an encouraging sign for the future of the Black Hair Industry, as it demonstrates that African American-owned businesses are capable of thriving in the beauty supply market.
In the United States, 52% of African American women prefer hair care products made exclusively for flex hair.
This statistic speaks volumes about the importance of the Black Hair Industry. It shows that African American women are actively seeking out products specifically designed for their hair type, indicating that they are aware of the unique needs of their hair and are willing to invest in products that cater to those needs. This statistic is a testament to the power of the Black Hair Industry and its ability to meet the needs of its customers.
Between 2017 and 2020, the percentage of black women who desire to have their natural hair texture increased by 23%.
This statistic is a testament to the growing appreciation of black women for their natural hair texture. It shows that more and more black women are embracing their natural hair and are no longer trying to conform to the Eurocentric beauty standards that have been imposed on them for so long. This statistic is a sign of progress and a reminder that black women are reclaiming their beauty and their right to express themselves however they choose.
The global hair-weave market is projected to reach a value of $5.9 billion by 2026.
This statistic is a testament to the immense potential of the Black Hair Industry. It shows that the market for hair-weaves is growing rapidly and is expected to reach a staggering $5.9 billion by 2026. This is a clear indication that the Black Hair Industry is thriving and is an important part of the global economy.
Black consumers spend around 80% of their hair product budget in beauty supply stores.
This statistic is a powerful indicator of the importance of beauty supply stores to the Black hair industry. It shows that beauty supply stores are a major source of revenue for the industry, and that Black consumers are actively investing in products to maintain their hair. This statistic is a testament to the strength of the Black hair industry and the commitment of Black consumers to their hair care.
Hair coloring sales within the black consumers market reached $26 million in 2021.
This statistic is a testament to the immense growth of the Black hair industry, demonstrating the increasing demand for hair coloring products among Black consumers. It is a clear indication of the importance of the Black hair industry in the beauty industry, and the potential for further growth in the future.
By 2026, the global market for hair care products catering to black consumers is projected to be worth approximately $6.9 billion.
This statistic is a testament to the immense potential of the Black Hair Industry. It highlights the fact that the market for hair care products catering to black consumers is growing rapidly and is expected to reach a staggering $6.9 billion by 2026. This is a clear indication that the Black Hair Industry is a lucrative and profitable sector that is worth investing in.
Black women spend approximately $1.7 billion annually on hair care products.
This statistic is a testament to the immense economic power of Black women in the hair care industry. It highlights the fact that Black women are not only major consumers of hair care products, but also major contributors to the industry’s success. This statistic is a reminder of the importance of recognizing and supporting Black women’s economic contributions to the hair care industry.
Conclusion
The black hair care industry is a booming market, with an estimated value of $2.5 billion and projected to reach over $6.9 billion by 2026. African American consumers are the driving force behind this growth, spending nine times more on hair care products than other ethnic groups and accounting for 25% of the total ethnic haircare and beauty market in 2020.
Black women spend around 80% of their budget on haircare products at beauty supply stores, while styling products remain the most popular product type among them. Relaxers have seen a decline in sales since 2010 but wigs and extensions continue to be major contributors to overall revenue within this sector as they are expected to reach over $10 billion globally by 2023.
The natural hair movement has also been gaining traction among African Americans; 36% prefer it over chemically treated options while 23% desire their own natural texture compared to 2017 figures – indicating that there is still much potential for further growth within this industry moving forward into 2021-2026 period
References
0. – https://www.mckinsey.com
1. – https://www.technavio.com
2. – https://www.researchandmarkets.com
3. – https://www.npd.com
4. – https://www.reportlinker.com
5. – https://www.yumpu.com
6. – https://www.statista.com
7. – https://www.mintel.com
8. – https://www.hexaresearch.com
9. – https://www.marketstudyreport.com
10. – https://www.nielsen.com
