The professional beauty services market size stood at USD 209.78 billion in 2023. The market revenue is anticipated to rise from USD 221.03 billion in 2024 to USD 378.47 billion by 2032, registering a CAGR of 6.95% from 2024 to 2032.
Professional beauty services are widely used for personal grooming. Rapid innovations in specialized beauty salon equipment are boosting the adoption of professional beauty services. Key players’ increasing focus on customer-oriented services and a rise in the influence of social media platforms are driving market expansion.
The COVID-19 pandemic had a detrimental effect on market growth owing to decreased demand for professional beauty services due to the shutdown of national and international borders.
Fortune Business Insights™ shares this information in its report titled “Professional Beauty Services Market, 2024-2032.”
Read More: https://www.fortunebusinessinsights.com/professional-beauty-services-market-110641
Report Coverage
The report has studied the market in depth and underlined several crucial aspects and leading market participants. It provides important insights into the recent market trends and key industry developments. In addition to the factors mentioned above, the report covers many other factors that have helped the market grow.
Top Company in the Professional Beauty Services Market:
- L’Oréal Professionnel (France)
- Lakme Salon (India)
- Drybar (U.S.)
- Dekalash (U.S.)
- Beauty Connection Spa (UAE)
- TONI&GUY (U.K.)
- JOHN BARRETT (U.S.)
- Regis Corporation (U.S.)
- THE LASH LOUNGE (U.S.)
- Tommy Gun’s Original Barbershop (Canada)
Segments
Surging Popularity of Stylish Haircuts Propelled the Adoption of Hair Services
By service, the market is classified into nail service, skin service, hair service, and merchandise sales. The hair service segment commanded the global market owing to the surging popularity of stylish haircuts. Increased demand for hair care services is attributed to the emerging trend of long hair among men.
Rising Prominence of Self-care Fueled Demand for Beauty Services among Women
Based on end-user, the market is classified into men and women. The women segment led the global market due to the growing prominence of self-care. A rise in beauty salon visits by women for self-care experiences is fueling segment growth.
The global market is segmented based on region into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
Drivers and Restraints
Increased Innovations in Beauty Salons to Bolster Market Growth
Rapid incorporation of technology in beauty salons improves buyer footfall. There is an increased adoption of Augmented Reality (AR) and Virtual Try-Ons in professional beauty salons. People utilize augmented reality to visually attempt different hairstyles, looks, cosmetics, and colors before committing. By using innovative tools and software, professional beauty salons can identify a client’s hair and skin type and suggest custom-made treatments to meet their particular requirements. Increased preference for innovative salon management software by modern beauty service suppliers has streamlined appointment scheduling, inventory management, and client relationship management. Surging technological innovations in the beauty salon industry are bolstering the professional beauty services market growth.
However, a lack of skilled labor force is hindering the demand for professional beauty services.
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Regional Insights
Asia Pacific Dominates the Market Due to Rapid Urbanization and Growing Population
Asia Pacific commands the professional beauty services market share due to rapid urbanization and growing population. Increased spending on professional beauty services by working women in China, India, and Australia is fostering market expansion.
The market in Europe is expected to rise at the highest CAGR in the coming years due to rising facial and skin-related problems. Increasing trends of social media influencers about chic hairstyles and beauty items are driving market expansion in the region.
Competitive Landscape
Top Companies Making Partnerships with Influerncers to Reach a Large Consumer Base
Major professional beauty service suppliers are focusing on their business promotion through partnerships with influencers, bloggers, and content creators. They emphasize product endorsements with appealing content for both men and women to reach a large consumer base.
Key Industry Development
- April 2023: Lakme Salon inaugurated a beauty salon in Mumbai, India. The launch is expected to support the corporation’s target of more customers in the coming years.
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