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Product Overview
With rapidly evolving customer expectations of different goods, the beauty and personal care industry is undergoing a revolution. Consumers are concerned about the commodity, its ingredients, and its advantages. This heightened consumer interest has boosted consumer awareness of the toxic chemicals used in traditional personal care products, paving the way for the natural and Spas and Beauty Salons market. Cosmetics and personal care goods are made up of chemical compounds or organic ingredients that are used to improve one's overall appearance or for personal hygiene. Natural personal care and cosmetic products are made entirely of plant ingredients and do not contain potentially harmful chemicals such as parabens, phthalates, aluminum salts, or petrochemicals. The market's growth is being fueled by rising beauty consciousness and health awareness. Furthermore, industry players have been putting in a lot of effort into introducing a variety of items, which has helped to supplement market growth.
Market Highlights
Global Spas and Beauty Salons is expected to project a notable CAGR of 5.43% in 2030.
Global Spas and Beauty Salons to surpass USD 254.72 billion by 2030 from USD 150.16 billion in 2020 at a CAGR of 5.43% in the coming years, i.e., 2021-30. This growth is anticipated due increasing mergers and acquisitions across various sectors which will create a worldwide demand for Spas and Beauty Salons. The growth of online stores is also propelling the selling of high-end products. E-commerce allows the simple purchasing of goods manufactured in remote locations. This, in turn, has made a major contribution to the development of the global Spas and Beauty Salons industry.
Global Spas and Beauty Salons: Segments
Day spas segment to grow with the highest CAGR during 2020-30
Global Spas and Beauty Salons is segmented by spas into day spas, club spas, medical spas, destination spas, mineral spring's spa, and resort and hotel spas. Day spas segment held the largest market share in the year 2020. Day spas, for example, deliver a variety of amenities, therapies, and facilities as well as relaxation treatments during the day. Day spas provide meals and spa treatments, as well as other amenities including well-equipped gyms, relaxation lounges or bars, and beauty salons that provide nail services and other beauty services. The day or club salon segment, according to a spas and beauty salons industry research report, will account for the majority of the spa market during the forecast period.
Facial and skincare salons segment to grow with the highest CAGR during 2020-30
Global Spas and Beauty Salons is segmented by beauty salon into Hair Salon, Waxing Salon, Nail Salon, Tanning Salon, Facials and Skin Care Salon and Full-Service Salon. The increasing demand for complex skincare treatments among the population, especially among teenagers and the elderly is driving the global evolution of facials and skincare salons. Furthermore, consumers' busy lifestyles and high demand for personal care are expected to help the growth of the Spas and Beauty Salons industry.
Market Dynamics
Drivers
Increasing consumer demand and numerous benefits of spas and salons
Surging demand of Spas and Beauty Salons from numerous end-user industries is the key factor contributing in market growth. The rise in wellness tourism, increased demand from millennials, increasing geriatric population, hectic lifestyles in metropolitan areas, and increased consumer spending on wellness and beauty products as they help to alleviate stress, as well as creative marketing strategies, are the major driving factors of the global spas and beauty salons industry. In addition, changing customer perceptions toward personal care, as well as a desire to look and feel healthy, are pushing the spa and beauty salons industry forward. Furthermore, they help in the treatment of medical problems, the detoxification of the body, weight loss, and the strengthening of the immune system. The rising demand for spas and beauty salons among teenagers around the world is expected to generate significant opportunities in this industry.
Shifting consumer preference and personal well- being
Consumers' shifting attitudes toward personal care, combined with a constant desire to boost overall well-being, are benefiting the spa and beauty salon industry. The demand for wellness solutions has increased as consumers' desire to enhance their personal image and well-being has risen. Spa centers and beauty salons are continually working to develop their offerings by concentrating on changing customer tastes in order to satisfy the rising demand for unique spa and beauty services. The demand for spas and beauty salons is expected to rise over the forecast period, owing to an increasing desire for a healthy lifestyle.
Restraint
High cost of qualified therapy and poor penetration
However, the global spas and beauty salon industry is being held back by the high cost of qualified therapy practitioners and poor penetration in developing countries.
Global Spas and Beauty Salons Market: Key Players
Bradley & Diegel Salon
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Butterfly Studio Salon
Chris Chase
John Barrett Salon
Metropolis Salon & Dry Bar
Muse Salon and Spa
Robert James Salon and Spa
Rossano Ferretti
Salon U
The Roose Parlour and Spa
Other Prominent Players
Global Spas and Beauty Salons Market: Regions
Global Spas and Beauty Salons is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Global Spas and Beauty Salons in North America held the largest market share in the year 2020 in terms of revenue. The market's expansion can be due to growing customer concerns regarding personal appearance and evolving lifestyles. Furthermore, the changing customer understanding of beauty salons and spa facilities has led to the growth of the Spas and Beauty Salon industry. The global Spas and Beauty Salon market is expected to be powered by the introduction of international standards and innovative techniques and therapies for refining training programs to meet the rising consumer needs.
Global Spas and Beauty Salons Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - North Africa, Israel, GCC, South Africa, and Rest of MENA
Global Spas and Beauty Salons Market report also contains analysis on:
Spas and Beauty Salons Market Segments:
By Spas
Day spas
Club spas
Medical spas
Destination spas
Mineral spring's spa
Resort and hotel spas
By Beauty Salon
Hair Salon
Waxing Salon
Nail Salon
Tanning Salon
Facials and Skin Care Salon
Full-Service Salon
Spas and Beauty Salons Market Dynamics
Spas and Beauty Salons Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
Spas and Beauty Salons Market Report Scope and Segmentation
Frequently Asked Questions
How big is the Spas and Beauty Salon market?
What are the Spas and Beauty Salons market growth?
Which segment accounted for the largest Spas and Beauty Salons market share?
Who are the key players in the Spas and Beauty Salon market?
What are the factors driving the Spas and Beauty Salon market?