Over the years, various Americans have gotten tattooed. However, with the increase in people getting inked, there are also several people who are getting their tattoos removed. According to a recent report by Market Research Future, the global tattoo removal market is expected to reach $12.15 billion by 2030. The US accounts for over 40 percent of the global tattoo removal market.
A bunch of factors have played a crucial role in driving the growth of the tattoo removal industry in the US. Particularly among young job seekers, there may be room for expansion. While 22.2 percent of 18 to 19-year-olds are unemployed, the unemployment rate for 20 to 24-year-olds is 13.5 percent. Given that 22 percent of people in the 18 to 24 age group have tattoos, tattoo removal may start to look increasingly desirable if you're in a position to gain employment quickly.
Another factor that contributes significantly to the tattoo removal industry is the improvement in tattoo removal technology. The best method considered for the removal of tattoos is laser tattoo removal. In recent years, this technology has significantly improved, making tattoo removal more effective and less painful.
The average cost of removing a tattoo is between $200 and $500. Meanwhile, a minimum of 6 to 12 sessions is required to completely remove a tattoo. Around 6.6 million people between the ages of 18 to 24 years have tattoos. If a quarter of these individuals decide to get their tattoos removed, it could be 1.65 million individuals paying up to $2,000 each for the removal. It costs an average of $1,000, so that's already a $1.6 billion industry.
With this, it is expected that the tattoo removal industry is expected to witness a major hike. The reason behind the hike is the increasing popularity of tattoos, the improvement in tattoo removal technology, and the increasing acceptance of tattoos in the workplace.
