Cosmetology and Beauty Schools Market Size, Share, Growth, And Industry Analysis By Type (Cosmetology Schools, Beauty Schools) By Application (Men, Women) and Regional Forecast to 2028

Updated On: 22 April 2024

Report Overview

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The global cosmetology and beauty schools market size was USD 7968.16 million in 2022. As per research the market is expected to generate USD 10553.71 million by 2028, exhibiting a CAGR of 4.8% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the cosmetology and beauty schools market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

With the rise in surgical cosmetic operations including facelifts, hair transplants, and liposuction, demand for cosmetic surgery procedures is alarmingly growing. The demand for body improvements is gulling because to people's expanding demands for aesthetic appearance, which in turn drives the global industry. Salon services include any procedures done at a salon, such as eyebrow threading, skin care, hair cutting, and nail shaping, polishing, and cutting. Growing consumer knowledge of the availability of personal care services, including as massages, facials, haircuts, and nail enhancement & nail art, favours the market expansion beyond the typical barber services of hair cutting.

Globally, hair salons are using more perfumed and environmentally friendly hair shampoos and massage oils to improve the clientele's experience. For instance, the American hair salon Sport Clips offers neck and shoulder massages, haircuts, and other services while using warmed towels, massaging shampoos, and specially mixed proprietary smells. Over the anticipated timeframe, the growing necessity for salons to improve their service offerings will favorably impact market growth.

COVID-19 Impact: Closing Beauty Schools and Salons in The Midst of The COVID-19 Pandemic Will Hinder Market Expansion

The COVID-19 lockdown limitations have caused barber shops and hair salons to close all around the world, which has had an impact on income internationally, particularly in 2020 and 2021. To lower their chance of contracting the coronavirus, governments throughout the world have also urged people to avoid going to salons and to adhere to social conventions of distance. During the height of the COVID-19 crisis, concerns with employee availability throughout salons presented a challenge to many members of the business. Despite the sector's recovery in 2022, these issues limited the market share for salon services globally.

Latest Trends

"Beauty Schools and Salons' Emergence Will Lead to Lucrative Business Opportunities"

With the introduction of social & mobile salons, the global beauty salon market is undergoing a transformation due to the growing demand for industry participants to generate a consistent influx of clients. A mobile salon is a business that offers beauty treatment solutions close to or at the customer's location. A brick-and-mortar salon's services may be offered through this set up. Mobile salons can provide treatments in a client's preferred location while operating inside a vehicle, generally a van or a trailer. These salons also allow service providers to visit a client's home or place of business and perform services there without the need for a specially customized vehicle. Social salons, on the other hand, are new businesses that may be used for social and leisure activities. Social salons are often created to be visually pleasing given their purpose.

Segmentation

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• By Type Analysis

According to type, the market can be segmented into Cosmetology Schools, Beauty Schools. Cosmetology Schools is anticipated to be the leading segment.

• By Application Analysis

Based on application, the market can be divided into Men, Women. Men will be the dominating segment.

Driving Factors

"Rising Shops and Beauty Parlor Numbers to Support Market Expansion"

One of the main factors encouraging market progress is the growing number of barbershops, beauty salons, and manicurist clinics offering a variety of alluring services globally. Given the rising number of foreign visitors arriving in various nations, the business would also benefit from the expanding number of hospitality companies delivering top-quality services. For instance, the Indian Hotel Company Ltd. (IHCL), a provider of salon management services, launched two new unisex salons in Bangalore, Karnataka, India, in July 2022. The opening of new salons serves as a reminder of the rising global consumer demand for services. Additionally, consumers' growing demand for eco-friendly cosmetics and products that are vegan and created responsibly will boost industry profits in the near future.

"Strengthening Effect of Growing Use of Online Appointment Booking Platforms On Salon Services Businesses"

Businesses are using online appointment scheduling services to help them get more customers to their salons. The top websites in the globe for making online salon appointments are Shedul, Rosy, and MINDBODY. These digital technologies assist salons in tracking client preferences for customized salon services. Given the benefits of online salon appointment booking systems, salon businesses will probably use them more frequently during the course of the forecast period. Industry analysts estimate that as of 2019, 150,000 hair stylists and close to 40,000 enterprises used Shedul, a well-known salon management software, to regularly manage their company operations. Advertising salon services on social media websites and applications will accelerate the growth of the worldwide salon services market, from the perspective of online marketing.

Restraining Factors

"Strong Competition from Unorganized Players Will Restrict Market Expansion"

Players in the industry contend with fierce competition from a large number of unorganised barbershops and salons that offer subpar services at reasonable prices, particularly in Asian nations like China and India. Additionally, the highly competitive environment forces potential participants in the beauty salon and hair care services markets to make significant investments in maintaining a chic and aesthetically pleasing salon by purchasing salon supplies and items including chairs, hair straighteners, and cutting equipment. This aspect might be difficult for hairdressers with little resources.

Regional Insights

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"Europe Will Continue to Lead the Market During Forecast Period"

In 2022, the market size in Europe was estimated to be USD 68.04 billion. Given the increased consumer expenditure on beauty goods & services over the projection period, Europe will probably continue to lead the worldwide market. The Global Wellness Institute Organisation (GWI) estimates that in 2020, Europeans spent USD 273.6 billion on personal care goods and services. Salons in Europe are characterised by their abundance of youthful beauticians and hairdressers who provide innovative services. The European Union (EU), a political and economic union in Europe, reports that in 2019, there were 1.7 million hired hairdressers and beauticians under the age of 15.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Northwest College School of Beauty (U.S.)
• Boca Beauty Academy (U.S.)
• Empire Education Group (Pennsylvania)
• Xenon International Academy (U.S.)
• Pivot Point Academy (U.S.)
• AOFM (Academy of Freelance Makeup) (U.K.)
• Aveda (U.S.)
• SBS Academy Beauty School (India)
• Evergreen Beauty and Barber College (U.S.)
• Continental School of Beauty Culture (U.S.)
• Beautiful People Beauty Academy (India)
• Vidal Sassoon (U.S.)
• The Ogle School (U.S.)
• Hollywood Institute of Beauty (U.S.)
• MBC Academy Beauty Academy (South Korea)
• Dlmonita (India)
• Neecee's Barber College (U.S.)
• Paul Mitchell Advanced Education (U.S.)
• Tricoci University (U.S.)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.