Spas and Beauty Salons Market Share, Size, Analysis and Forecast 2028

Spas And Beauty Salons Market Size

The global spas and beauty salons market size was estimated at USD 139.1 billion in 2021 and is estimated to grow to about USD 181.44 billion by 2028, with a compound annual growth rate (CAGR) of approximately 4.50 percent over the forecast period. The report analyzes the digital remittance market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the digital remittance market.

Spas and Beauty Salons Market: Overview

Due to continually changing client expectations of numerous commodities, the beauty and personal care market is undergoing a revolution. Customers are concerned about the item, its constituents, and the benefits it provides. This growing customer interest has raised consumer awareness of the harmful chemicals included in traditional personal care products, paving the way for the natural and spa and beauty salon sectors. Cosmetics and personal care items are made up of chemical compounds or organic substances that are used to improve one's overall appearance or personal cleanliness. Natural personal care and cosmetic products are made entirely of plant ingredients and do not contain potentially harmful chemicals like parabens, phthalates, aluminum salts, or petrochemicals.

The global population has become beauty, health, and wellness conscious, and thus consumers are opting for various beauty-enhancing and personal care products available in the market. In earlier days, during the industrial development phase, the operation and revenue of spas and beauty salons were on a very small scale. However, changing lifestyles and demand for wellness solutions and services resulted in the high adoption of spas and beauty salons. In today’s world, the concept of going to spas and salons is for getting relaxation, therapeutic treatments, and rejuvenation from the hectic daily schedule. Irrespective of gender, everybody has a will to look beautiful, and thus the fashion- or beauty-conscious people around us are turning towards spas and beauty salons.

The services offered by spas and salons include haircuts, coloring or bleaching, tanning, nail treatments, waxing, facial aesthetics, aromatherapy, mud baths, and massages, among other services. The factors that are driving the growth of the market are increased focus on personal appearance, preference for healthy lifestyles, as well as new and advanced developments and services offered by spas and salons. The destination and hotel spas segment is expected to offer significant growth in the spa services during the forecast period.

COVID-19 Impact:

The COVID-19 pandemic has significantly impacted the spa and beauty salon industry. Due to the rapid spread of the coronavirus, all non-essential services were discontinued. Consumers' increasing disposable incomes and spending capacity increased demand for spas and beauty treatments. Massage, skin lightning, waxing, facial, anti-aging, and tan removal treatments are increasingly popular among customers. People, particularly women, are making efforts to improve their appearance. This aspect fuels the demand for spas and beauty salons, offering lucrative prospects for service providers and beauticians. Manufacturers in the spa and beauty salon market are focused on service improvements to gain a competitive advantage.

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Spas and Beauty Salons Market: Growth Drivers

Growing modernization and busy lifestyle.

Growing modernization and a busy lifestyle are the key factors driving the growth of the worldwide spas and beauty salons market. Furthermore, the high level of living and rising disposable income encourage customers to seek such services to help renew their skin and decrease stress, driving market growth. This industry is expected to grow further due to increased demand for natural or herbal products to maintain the body's health. Aside from that, the growing tendency toward personal appearance among youth and the senior population and the availability of new spa technologies are expected to fuel the growth of the global spas and beauty salons market.

Some of the other factors that are fueling the growth of the global spa and salon industry are the growing geriatric population, hectic lifestyles in metropolitan areas, and rise in customer spending on wellness and beauty products as they help to get relieved from stress. In order to attract more and more consumers, the hotels and resort spas are also offering recreational facilities such as a swimming pool to the customers. Several beauty salons are offering complex skin care treatment services to satisfy growing consumer needs. The major factor that is expected to obstruct the growth of this market is the expensive products and service costs charged by the spa and salon industry. Also, the professionals who handle customers need to be properly trained, meeting the standards set by the industry. The ever-increasing demand from teenagers across the world towards spas and beauty salons is expected to provide significant opportunities in this market.

Spas and Beauty Salons Market: Restraints

The cost of qualified therapy is high, and penetration is low.

The high cost of competent therapy practitioners and low penetration in underdeveloped nations are holding back the worldwide spa and beauty salon business.

Spas and Beauty Salons Market: Report Scope

Spas and Beauty Salons Market: Segmentation

The global spas and beauty salon market is segregated based on type and end user. Based on type, the market is divided into two divisions: spas and beauty salons. Day, club, medical, destination, mineral springs, resort, and hotel spas are the most common types of spas. Hair, waxing, nail, tanning, facials, and skin care salons are the most common types of beauty salons. Men's and women's beauty and personal care products and services are available at spas and beauty salons. Spas and beauty salons are becoming increasingly popular in the modern world since there is a growing desire for wellness solutions to alleviate stress from a stressful lifestyle. Spa professionals and beauticians in spas and beauty salons offer skin and hair guidance and information, which is another factor driving business growth. Based on end-user, the market is segmented into men and women.

Regional Landscape

During the forecast period, North America is expected to lead the worldwide spas and beauty salons market. Consumer worries about personal appearance and changing lifestyles are linked to industry expansion. In addition, the growth of the spas and beauty salons market is being ascribed to a shift in client perceptions of beauty salon and spa services. The global spa and beauty salon market is predicted to be driven by the adoption of international standards as well as new techniques and therapies for better training programs to meet the growing client demands. Furthermore, an increase in the number of working women, changing lifestyles, and a greater desire to invest in personal grooming are some of the factors boosting demand for spas and beauty salons in the United States.

Competitive Landscape

The market for spas and beauty salons is fragmented due to the existence of various companies. Competition is predicted to heat up in the coming years because of the rise of several local players. Muse Salon & Spa LLC, Paul Labrecque, The Roose Parlour and Spa, Metropolis Salon, Robert James Salon and Spa, Butterfly Studio Salon & Spa, Chris Chase Salon, John Barrett Salon, Metodo Rossano Ferretti Salon, Madeline Wade, Bradley & Diegel Salon, and others are key players in the spa and beauty salon market.

The Spas and Beauty Salons market is segmented as follows:

By Type

• Spas
• Beauty Salons

By end-users

• Men
• Women

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa