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THE TATTOO LASER REMOVAL BUSINESS IS BOOMING

March 9, 2020
March 9, 2020
Clem Onojeghu via Unsplash

The stigma surrounding tattoos has largely faded, with about 30% of Americans having at least one tattoo, climbing to nearly 50% among millennials. While tattoos may have gone from subculture to mainstream, fueling a $1.8 billion market in the US, the fact thatone in eight American adults regret getting at least one of their tattoos is creating a booming market for removal. According to Yelp, tattoo removal treatments began trending in 2017.

Changing lifestyles, relationship changes and bad art are some of the reasons fueling the surge in the tattoo removal market. As the number of people getting inked in their youth increases, it follows that the removal market will continue to grow as well. The global tattoo removal market is expected to reach $4,794.9 million by 2023 at a CAGR of 15.6% during the forecasted period. The laser therapy segment market accounts for the largest market share and is expected to reach $3,247.7 million by 2023 from $970.8 million in 2016 at a CAGR of 15.9% for the forecasted periods.

The Finery, a New York-based tattoo removal chain is expanding. The business operates five locations and offers mobile services, removing 100,000 tattoos since opening in 2011. NBA player David Nwaba of the Brooklyn Nets was the first client to have his tattoo removed when the newest location opened in Brooklyn near the Barclays Center in Boerum Hill. The removal process is done with FDA-approved lasers, and it isn’t cheap. According to a spokeswoman for The Finery, “For an average-sized tattoo, packages can range from $500-$2,000 (total tattoo removal, including many sessions). Every tattoo is different.”

Beauty has carved out its piece of the tattoo market offering tattoo care products. Last year Beiersdorf launched the first brands out of their new incubator called Skin Stories, and Skinfix also saw the white space, launching a range of tattoo products. It doesn’t take much to see the white space and category adjacency—could the next opportunity lie in tattoo removal?

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