Report Ocean introduces a fresh report examining the ‘Global Salon Services Market’, encompassing its size, share, growth, industry trends, and forecast up to 2032. This comprehensive analysis delves into various industry components and growth patterns that offer valuable insights for anticipating the market’s future trajectory.
Global Salon Services Market is valued at approximately USD 202.5 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 7.46% over the forecast period 2022-2029.
Salon Services are the services given to the customer for self-grooming purposes such as hair care, skincare and nail care services. The Salon Services market is expanding because of factors such as the rising per capita income of consumers and the increasing popularity of hair care and skin care treatments among consumers. This market is dominated by Great Clips Inc., Regis Corporation, Dessange International, Ulta Beauty Inc., The Lounge Hair Salon, and Seva Beauty.
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The increase in the income of consumers also increased the standard of living of the people, which people have been investing a large part of their income in beauty and personal care for which they use salon services. For instance, the Global GDP per capita, including 193 economies, is projected to be US$12,167 in nominal terms in 2021, as per the data given by the IMF data. This figure is almost $1,110 more than in 2020. world GDP per capita in purchasing power parity is projected to be around $18,400 (international(. $1,180 more than in 2020. Per capita income at PPP is 151% of face value, which means the increase in the income will also increase the purchasing power of the consumer which giving a better estimate of living standards. And the availability of new technologies has increased the awareness among netizens about the rising concern related to hair care and skin care. The growing influence of beauty trends on social media, coupled with the rise of celebrities hair care and skin care has influenced the general public in adopting the various personal care technique as well as busy work schedules, sedentary lifestyles, and growing concern over the prevalence of many skin diseases due to increased environmental pollution is the reason which has been boosting the demand of Salon services since few decades. Moreover, the Citizen’s Growing Interest Toward Natural or Herbal Products is expected to create opportunity for this significant market in the forthcoming years. However, the High setup cost and lack of regulation stifle market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Salon Services Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the dominance of branded products and the region’s Growing consumer interest in diverse, high-quality hair care products, increasing spending on online beauty care. Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising Consumer concerns about grooming and lifestyle. Make consumers aware of the beauty salons, the geographic expansion of key players. For instance, in December 2021, in China, the beauty salon chain named Beauty Farm is launching an IPO in Hong Kong, where it could raise up to $500 million, which is expected to propel the demand for the salon service.
Major market players included in this report are:
- Seva Beauty
- Drybar LLC
- Dessange International
- The Leading Salons of the World LLC
- The Snip-its Franchise Company, LLC.
- Great Clips Inc.
- Regis Corporation
- Skin Rich
- Ulta Beauty Inc.
- The Lounge Hair Salon
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Service Type:
Hair Care Salon Services
Nail Care Salon Services
Skin Care Salon Services
By End User:
For Men
For Women
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World
The following are significant aspects of the industry that may be relevant:
Market Size and Growth: The size of the market and its projected growth rate are essential factors that can provide valuable insights into the industry’s potential.
Competition: The level of competition in the market is a significant factor that can impact the pricing and profitability of companies operating in the industry.
Technology: Technology plays a critical role in the industry as search algorithms and consumer behavior continue to evolve rapidly.
Consumer Behavior: Understanding consumer behavior, such as search habits and preferences, can help companies optimize their marketing strategies and drive sales.
Regulatory Environment: The industry is subject to various regulatory requirements, including data protection and privacy laws, which can impact the way companies operate in the market.
Economic Factors: Economic factors, such as GDP, inflation, and consumer spending, can affect the growth and profitability of the industry.
Emerging Trends: Staying updated with emerging trends, such as voice search and artificial intelligence, can help companies stay ahead of the curve in the industry.
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