Spas and Beauty Salons Market Size, Share, Growth, And Industry Analysis, By Type (Day Spas, Club Spas, Medical Spas, Destination Spas, Mineral Spring’s Spa, Resort and Hotel Spas), By Application (Hair Salon, Waxing Salon, Nail Salon, Tanning Salon, Facials and Skin Care Salon), Regional Forecast To 2031

Updated On: 15 April 2024

SPAS AND BEAUTY SALONS MARKET REPORT OVERVIEW 

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The global spas and beauty salons market size was USD 154380.1 million in 2021 and is projected to touch USD 247497.8 million by 2031, at CAGR of 4.83% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with spas and beauty salons 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. 

Spas and beauty salons offer skin, body and hair treatments such as manicures, pedicures, , facials, hair spas, massages and hair removal. The main goal of a salon is to pamper their clients and offer a selection of body and skin care services depending on their needs. After so many hectic work of day to day lives, salons offer place to relax from busy lives and monotonous schedules.

Growing awareness among consumers regarding personal care beauty products has led to increase in demand for spas and salons. Increasing popularity of skin facials and growth of teenage population have further helped to boost the market growth.

COVID-19 Impact: Pandemic Hampered the Demand of Spas and Beauty Salons Market

Covid-19 pandemic led to supply chain disruptions in the whole world. Beauty salons closed their operations and many were shut down until reopening instructions received from the government authorities. As a result of social distancing norms, the entire industry witnessed significant decrease in demand. Lockdown measures led to a temporary prohibition on marriages, and functions, as well as import and export of beauty products, across a range of businesses and utilities, which reduced the demand for spas and beauty salons from these customers.

Latest Trends

Increasing Demand for Spas and Personal Care to Fuel Market Growth

The growth of market can be attributed to various factors such as the increasing demand for salon treatments, rising awareness about the benefits of facials and skin treatments, and the growing popularity of skin detoxification. In addition, the growth of teenage population, increase in spending power of consumers , and introduction of new product lines by key industry players will further boost spas and beauty salons market growth during the forecast period.

SPAS AND BEAUTY SALONS MARKET SEGMENTATION 

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• By Type Analysis

According to type, the market can be segmented into Day Spas, Club Spas, Medical Spas, Destination Spas, Mineral Spring’s Spa, Resort and Hotel Spas.

• By Application Analysis

Based on application, the market can be divided into Hair Salon, Waxing Salon, Nail Salon, Tanning Salon, Facials and Skin Care Salon.

Driving Factors

"Increasing Demand for Beauty and Skincare to Boost Market Growth"

Growing awareness among consumers regarding benefits of beauty and skincare products will help to stimulate market growth. In addition, consumers changing perceptions towards personal care, desire to look and feel healthy are boosting the spa and beauty salons market growth. Salons offer services that helps in detoxification of the body, weight, reduce stress and make the person feel refreshed. The rising demand for spas and beauty salons from teenagers around the world is expected to enhance market demand.

"Increase in the Standard of Living to Stimulate Market Demand"

Global economy has developed into modern, industrialized economy and standards of living is increasing over time. Higher standard of living directly affects the purchasing power of consumers which in turn increases consumer’s spending on various goods and services. As a result of rise in standard of living of people, awareness regarding self-pampering and growth of teenage population, market is anticipated to grow in the forecast period.

Restraining Factors

"High Cost of Salon Treatment May Hamper Market Growth"

Spa and beauty salons offer services that includes facials, foot treatment, body massage, body spa, scrubs, hair spa to make the face and hair look best. However, the services offered by beauty salons are very expensive for a common man. In addition, high startup cost, increasing price of different skincare products and tools used in beauty salons are anticipated to restrict the growth of market during forecast period.

SPAS AND BEAUTY SALONS MARKET REGIONAL INSIGHTS 

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"Growing Demand in North America Anticipated to Boost Market Expansion "

As majority of cosmetics and personal products are produced and consumed and different development strategies made by the key players in North America, it is considered to be the most dominating region in spas and beauty salons market share. The main element anticipated to contribute to the industry growth is rising concerns of consumers regarding beauty and personal care and increased consumer spending on wellness and beauty products.

Key Industry Players

"Adoption Innovative Strategies by Key Players Influencing Market Development "

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. The top key players in the market are Butterfly Studio Salon & Spa, Metropolis Salon & Dry Bar, The Roose Parlour and Spa, Madeline Wade, Robert James Salon and Spa, Paul Labrecque Salon & Spa, Muse Salon & Spa LLC, Metodo Rossano Ferretti Salon and Salon U. In addition, the strategies to develop new technologies, capital investment in R&D, improve product quality, acquisitions, mergers, and compete for the market competition help them to perpetuate their position and value in the market. Besides, collaboration with other companies & extensive possession over market shares by the key players stimulates the market demand.

List of Market Players Profiled

• Butterfly Studio Salon & Spa
• Metropolis Salon & Dry Bar
• The Roose Parlour and Spa
• Madeline Wade
• Robert James Salon and Spa
• Paul Labrecque Salon & Spa
• Muse Salon & Spa LLC
• Metodo Rossano Ferretti Salon
• Salon U

Report Coverage

This report examines an understanding of the spas and beauty salons market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.