Professional Beauty Services Market Overview 2023-2031: Estimated Market Size, Major Drivers and Lucrative Segments – By The Business Research Company

Posted on 2024-03-28 by Transparency Market Research in Advertising // 0 Comments

Wilmington, United States, 2024-Mar-01 — /EPR Network/ — The professional beauty services industry has witnessed substantial growth over the past decade, with trends indicating a promising future outlook. In this report, we delve into the market dynamics, emerging trends, and regional insights shaping the professional beauty services market up to the year 2031.

@ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=85390

Key Players and Market Developments

Fantastic Sams, Floyd’s Barbershop, Great Clips, Inc., Lakme Salon, L’Oréal Professionnel, Regis Corporation, Seva Beauty, Sport Clips, Tommy Gun’s Original Barbershop, and Toni & Guy are the key players in the professional beauty services market.

Market Overview:

In 2022, the global professional beauty services market was valued at US$ 208.7 billion. With a projected Compound Annual Growth Rate (CAGR) of 6.8% from 2023 to 2031, the market is anticipated to reach US$ 378.1 billion by the end of 2031. Factors such as rapid urbanization, lifestyle changes, and the growing trend of hair highlights contribute significantly to this growth trajectory. Moreover, advancements in cosmetic solutions and technology, coupled with a surge in demand for salon services post-COVID-19 lockdowns, further fuel market expansion.

Segment Analysis:

The professional beauty services industry encompasses various segments, including hair salons, nail salons, skin care, and merchandising. Salons offering a comprehensive range of services, from hair and nails to skincare, are gaining traction. Moreover, the adoption of advanced technology treatments for skin and hair concerns is on the rise, reflecting evolving consumer preferences.

Key Market Drivers:

Increase in Number of Salons and Spas: The proliferation of salons and spas globally, coupled with the promotion of innovative beauty treatments by key brand houses, is driving market growth.

Rise in Women’s Employment: With more women joining the workforce, there’s a surge in spending on beauty services. Working women, in particular, exhibit a heightened interest in beauty and fashion trends, contributing to market expansion.

Growing Concerns about Hair Issues: The dominance of the hair service segment is propelled by increasing trends in hair coloring and styling. Rising concerns regarding hair health, such as hair fall and dandruff, further bolster demand for professional hair services.

Surge in Demand for Beauty Treatments: Women remain a significant consumer group for professional beauty services, with a rising inclination towards skincare, haircare, and grooming.

| – https://www.transparencymarketresearch.com/checkout.php?rep_id=85390&ltype=S

Regional Insights:

North America: With a substantial female workforce, North America holds a significant share of the market. Increased purchasing power among women in the region drives spending on skincare, haircare, and professional beauty services.

Asia Pacific: Emerging as the fastest-growing market, Asia Pacific witnesses rising demand for professional beauty services due to growing awareness of personal care. Key brands’ continuous investments in the region contribute to market expansion, offering value-added services to consumers.

About Us Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

Matched content

Editor’s pick