The global salon services market size was valued at USD 215.65 billion in 2022 and is projected to reach a valuation of USD 230.64 billion in 2023. The market is expected to reach USD 383.88 billion by 2030 with a CAGR of 7.55% during the forecast period. Salon services refers to the activities such as shaping, polishing, cutting the nails, eyebrow threading, skin treatment, and hair cutting. Hairdressing parlors have been utilizing sustainable and scented hair shampoos & massaging oils to enhance the consumer experience. Broad portfolio of services by the market players is set to propel market growth. Fortune Business Insights™ shares this information in its report titled “Salon Services Market, 2023-2030.”
Read More: https://www.fortunebusinessinsights.com/salon-service-market-104608
Segments
Hair Care to Lead Owing to Demand for Natural and Organic Hair Care Products
On the basis of service type, the market is divided into hair care, nail care, and skin care. Hair care segment dominates due to demand for natural and organic hair care products and growth in the levels of consumer spending on hair cutting & dressing services. The skin care segment is also estimated to have a good growth due to consumer inclination toward specialized skincare salon treatments.
Women Segment Led Due to Rising Prevalence of Feminine Products and Services Offered
On the basis of end-user, the market is categorized into women and men. Women segment dominates due to rising prevalence of feminine products and services offered across salons. Men segment is also set to grow owing to the growing popularity of beard shaping, eyebrow threading, and body waxing services.
Geographically, the market is studied across North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
List of Key Players Profiled in the Salon Services Market Report
- Great Clips, Inc. (U.S.)
- Regis Corporation (U.S.)
- Dessange International (France)
- Ulta Beauty, Inc. (U.S.)
- The Lounge Hair Salon (Thailand)
- Seva Beauty (U.S.)
- Drybar (U.S.)
- Skin Rich (U.K.)
- The Leading Salons of the World, LLC. (U.S.)
- Snip-its (U.S.)
Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
Drivers and Restraints
Increasing Count of Barber Shops and Beauty Salons to Progress Market Growth
Increasing count of barber shops and beauty salons is anticipated to drive the salon services market growth. The number of barber shops, beauty parlors, and manicurist clinics has been increasing and expansion of hospitality establishments offering premium-quality services will favor industry expansion. Establishment of new salons is increasing the consumer demand for services worldwide due to increasing preferences toward eco-friendly cosmetics and sustainably made and vegan cosmetic items. Increasing popularity for online appointments on various platforms is also strengthening the market growth.
However, intense competition from unorganized players to restrain the market growth.
Regional Insights
Owing to Increasing Levels of Consumer Spending, Europe Led the Market Share
Europe held the largest salon services market share due to increasing consumer spending on beauty products and services. The Global Wellness Institute Organization (GWI) stated that the expenditure by Europeans on personal care products & services in 2020 was USD 273.6 billion.
North America to have the second-largest share in the market for salon services due to rising popularity of facial, massage & nail treatment-related services in the U.S. At a macro level, focus toward using premium-based and vegan cosmetic items in the U.S. and Canada will further create attractive business opportunities.
Asia Pacific is expected to witness significant growth due to the rising number of hair and nail salons and beauty parlors in India and China.
Competitive Landscape
Schwarzkopf Professional Launched Personalized Hair-Care Recommendations, SalonLab
Global beauty parlors and barber shops have been putting their efforts in expanding their geographical footprint to increase their service revenues. In addition, numerous industry participants employ management software to offer an enhanced salon experience to their clients. In October 2022, Schwarzkopf Professional launched personalized hair-care recommendations based on the hair types of customers. This recommendation is done by using company’s in-salon hair consultation device called SalonLab.
Key Industry Development
- November 2022- Reliance Retail announced its plans to enter the salon business by acquiring Natural Salon & Spa, which has over 650 salons in India. It will help Reliance brand in competing with major players of the market.
Comments
0 comment