Global spas and beauty salons market expected to reach approximately USD 190.81 billion in 2024, growing at a CAGR of slightly above 5.80% between 2018 and 2024. Global spas and beauty salons market has a huge potential comprising of both men and women beauty and personal care products and services.
The report covers forecast and analysis for the spa and beauty salons market on a global and regional level. The study provides historical data from 2015 to 2017 along with a forecast from 2018 to 2024 based on revenue (USD Billion). The study includes drivers and restraints for the spa and beauty salons market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the spa and beauty salons market on a global level.
This report offers comprehensive coverage on global spa and beauty salons market along with, market trends, drivers, and restraints of the spa and beauty salons market. This report includes a detailed competitive scenario and the product portfolio of key vendors. To understand the competitive landscape in the market, an analysis of Porter’s Five Forces model for the spa and beauty salons market has also been included. The study encompasses a market attractiveness analysis, wherein all segments are benchmarked based on their market size, growth rate, and general attractiveness. This report is prepared using data sourced from in-house databases, secondary and primary research team of industry experts.
The study provides a decisive view of the spa and beauty salons market by segmenting the market based on type and region. The type segment is divided into spas and beauty salons. The spa segment is further fragmented into day spas, club spas, medical spas, destination spas, mineral springs spa, and resort and hotel spas. Beauty salon segment is sub-segmented into a hair salon, waxing salon, nail salon, tanning salon, facials and skin care salon, and a full-service salon. All the segments have been analyzed based on present and future trends and the market is estimated from 2018 to 2024. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa with further country wise bifurcation include the U.S., the UK, France, Germany, China, Japan, India, and Brazil.
The report covers a detailed competitive outlook including the market share and company profiles of the key participants operating in the global spa and beauty salons market are Metropolis Salon & Dry Bar, The Roose Parlour and Spa, Butterfly Studio Salon & Spa, Robert James Salon and Spa, Muse Salon & Spa LLC, Metodo Rossano Ferretti Salon, Paul Labrecque Salon & Spa, Madeline Wade, and Salon U, among others.
The report segments the global spa and beauty salons market as follows:
Spas and Beauty Salons Market: Type Segment Analysis
Spas and Beauty Salons Market: Regional Segment Analysis
The global population has become beauty, health, and wellness conscious and thus consumers are opting for various beauty-enhancing and personal care products available in the market. In earlier days, during the industrial development phase, the operation and revenue of spas and beauty salons were on a very small scale. However, changing lifestyle and demand for wellness solutions and services resulted in the high adoption of spas and beauty salons. In today’s world, the concept of going to spas and salons are for getting relaxation, therapeutic treatments, and rejuvenation from the hectic daily schedule. Irrespective of gender, everybody has a will to look beautiful and thus the fashion or beauty conscious people around us are turning towards spas and beauty salons.
The services offered by spas and salons include haircut, coloring or bleaching, tanning, nail treatments, waxing, facial aesthetic, aromatherapy, mud baths, and massages among other services. The factors that are driving the growth of the market are increased focus on personal appearance, preference for healthy lifestyles, as well as new and advanced developments and services offered by spas and salon industry. The destination and hotel spas segment is expected to offer significant growth in the spa services during the forecast period.
Some of the other factors that are fueling the growth of global spa and salon industry are growing geriatric population, hectic lifestyles in metropolitan areas, and rise in customer spending on wellness and beauty products as they help to get relieved from stress. In order to attract more and more consumers the hotels and resorts spas are also offering recreational facilities such as a swimming pool to the customers. Several beauty salons are offering complex skin care treatment services to satisfy growing consumer needs. The major factor which is expected to obstruct the growth of this market is the expensive products and service costs charged by the spa and salon industry. Also, the professionals who handle customers need to be properly trained, meeting the standards set by the industry. The ever-increasing demand from the teenagers across the world towards spas and beauty salons is expected to provide significant opportunities in this market.
Market segmentation of global spas and beauty salons market is based on type and region. The type segment is categorized into spas and beauty salons. The spas segment is further categorized into day spas, club spas, medical spas, destination spas, mineral springs spas, and resort and hotel spas. Hair salon, waxing salon, nail salon, tanning salon, facials and skin care salon, and the full-service salon is the sub-segments included in beauty salons segment. Regional segmentation of the spas and beauty salons market include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa with further country wise bifurcation into major countries such as the U.S., the UK, France, Germany, China, Japan, India, and Brazil.
The major players operating in the global spas and beauty salons market are Metropolis Salon & Dry Bar, The Roose Parlour and Spa, Butterfly Studio Salon & Spa, Robert James Salon and Spa, Muse Salon & Spa LLC, Metodo Rossano Ferretti Salon, Paul Labrecque Salon & Spa, Madeline Wade, and Salon U, among others.