According to Custom Market Insights (CMI), the global spas and beauty salons market by 2030 was estimated at nearly USD 152 billion in 2021. As per our study, the market is anticipated to reach a value of USD 255 billion by 2030 showing a CAGR of 6%. Scrutinizing the uncertainties of the COVID-19 pandemic, our research team is constantly tracking and assessing the impact of the pandemic on the Spas and Beauty Salons market. These comprehensive insights are included in our market search report as a key market contributor.
Spas and Beauty Salons Market: Overview
The spas and beauty salon market is experiencing a revolution due to constantly changing customer expectations for various commodities. Customers are concerned about the product, its components, and its benefits. This growing customer interest has increased consumer awareness of the toxic chemicals in traditional personal care products, offering growth opportunities to the natural and Spa and Beauty Salons industries.
Cosmetics and personal care products are composed of chemical compounds and organic substances that are used to enhance the overall appearance or personal cleanliness. Organic personal care and cosmetic products possess no potentially harmful ingredients such as parabens, phthalates, aluminum salts, or petrochemicals and are made entirely of plant ingredients.
Browse the full “Spas and Beauty Salons Market Size, Trends and Insights By Spa Service (Day Spas, Club Spas, Medical Spas, Destination Spas, Mineral Spring’S Spa, Resort and Hotel Spas), By Salon Service (Hair, Skin, Nail, Others), By End User (Men, Women), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032″ report at https://www.custommarketinsights.com/report/spas-and-beauty-salons-market/
Growth Factors
The hectic lifestyle of people around the world is boosting the demand for spa and beauty salon services
During 2022-2030, the spas and beauty salon market will be driven by rising awareness among consumers about personal appearance and lifestyle. The market is predicted to expand in the coming years as people become more aware of the advantages of spa and beauty salon services. However, the significant initial investment required due to the high cost of machines and products impedes market growth.
Market participants are overcoming losses caused by the COVID-19 pandemic and creating market growth opportunities. The growing working women population is one of the primary drivers of the spa and beauty salon market. Women are more likely to spend money on grooming services, which is expected to spur growth in the spa and beauty salon market through the forecast period.
Segmental Overview
The Spas and Beauty Salons market is segmented into spa service, beauty service, and end users. The resort and hotel spas category is expected to grow at the fastest rate due to increased tourism, hectic lifestyles in cosmopolitan areas, and increased customer spending on beauty and wellness products. Customers’ access to recreational amenities such as swimming pools provided by resorts and hotel spas also contributes to the category’s growth. Based on end-users, the women segment is expected to lead the market in terms of growth and market share. Because of the growing number of working women, the demand for these services has witnessed growth.
Monthly household income has increased. Women in several countries have greater purchasing power and a higher standard of living, which leads to an increase in spending on personal grooming services. During 2022-2030, this factor is expected to spur the spas and beauty salon market.
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Regional Overview
North America is estimated to dominate the spa and salon market
The North American region is estimated to dominate the market in 2021. To remain competitive and cater to a large number of clients, key players in the North American spas and beauty salon market are concentrating on expanding their geographical presence. To attract a large customer base, many Spas and Beauty Salons are incorporating technologically advanced devices and organic products. Market participants in the region are employing novel strategies to expand their market presence and generate revenue streams.
Key Players Insights
Because of the presence of multiple players, the spa and beauty salon market is highly fragmented. The entrance of many local players is expected to intensify competition in the coming few years. Also, client retention and discount offers, coupled with membership programs are the growth strategy by key participants to maintain their competitive edge in the market.
Some of the prominent players
- Muse Salon & Spa LLC
- The RooseParlour and Spa
- Salon U
- Butterfly Studio Salon & Spa
- Metropolis Salon & Dry Bar
- John Barrett Salon
- Robert James Salon and Spa
- Paul Labrecque Salon and Spa
- MetodoRossano Ferretti Salon
- Madeline Wade
- Rossano Ferretti
- Chris Chase Salon
- Takamichi Hair
- Bradley &Diegel Salon
- Maxine Salon
- Marcos ProencaCabeleireiros
- Vasken Demirjian Salon
Table of Contents: https://www.custommarketinsights.com/report/spas-and-beauty-salons-market/#table-of-contents
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