How Much is the Tattoo Industry Worth in 2023?

As an entrepreneurship consultant, I‘ve seen the tattoo industry undergo immense growth in recent years. But exactly how big is this market today, and how much is it projected to grow? Here‘s a deeper look at the tattoo industry‘s value.

Tattoo Industry Poised for Robust Growth

  • The global tattoo industry was valued at $1.89 billion in 2022, according to research firm Fortune Business Insights.
  • By 2030, the global market is forecast to reach $3.92 billion, representing a compound annual growth rate of 7.8%.

Table: Global Tattoo Industry Growth Projections

Year Market Value
2022 $1.89 billion
2030 $3.92 billion
  • This growth will be fueled by tattoos becoming more socially acceptable, influencers promoting tattoo culture on social media, and TV shows like Ink Master.
  • However, restrictive regulations in some markets could constrain growth. Operating costs may also rise with demand for supplies.

United States Leads in Tattoo Industry Revenue

  • The United States generates the highest tattoo industry revenue globally, with an estimated market size of $3 billion annually as of 2022.
  • This represents around 37% of the total global market value.
  • Other top revenue-generating countries include Brazil ($893 million market), Germany ($784 million), the UK ($685 million) and Australia ($491 million).
  • Japan notably has a smaller market at $287 million, as tattoos still face stigma and bans in some settings.

Millennials and Gen Z Drive Tattoo Demand

  • Millennials and Gen Z are getting tattooed more than older generations, drawn by peer influence, social media, and changing perceptions.
  • Surveys indicate 40% of millennials and 38% of Gen Z have at least one tattoo.
  • Meanwhile, only 32% of Gen X has a tattoo, along with 15% of Baby Boomers.

As younger demographics increasingly choose to get inked, they present a major growth opportunity for new and established tattoo shops alike. The industry shows no signs of slowing, meaning now is an ideal time for aspiring tattooists to hone their craft and make their mark.