Professional Beauty Services Market By Age Group (26 to 45 Years, 46 Years and Above, 18 to 25 Years) By service (Hair Service, Skin Service, Nail Service, Merchandise Sales) By Gender Male, Female)-Growth, Future Prospects & Competitive Analysis, 2016 – 2030

Key Highlights of the Report

The global professional beauty services market is segmented by age group, service, gender, and region. 26 to 45 years is the most popular segment based on age group. Hair service is the most commonly used service segment, while the female segment holds the most significant market share, with Asia Pacific leading the market growth.

The global professional beauty services market has several drivers, including the factors such as rapid urbanization, lifestyle changes, an increase in the popularity of hair highlights, and rising salon service utilization, which would help expand the market for professional beauty services. Salons and other beauty service providers aim to give high-quality cosmetic treatments using cutting-edge technologies. Salons’ increased focus on hair care has increased client confidence and readiness to select hair dyes and associated procedures. However, there is very little regulation in the professional beauty services sector. The beauty industry is unlike any other industry in that any regulated agency establishes no firm guidelines to govern it. In such a situation, numerous companies enter the professional beauty sector each year to take a piece of the market already occupied by established competitors.

Nonetheless, the global professional beauty services market offers significant growth opportunities, including throughout the forecast period, increasing technology integration in beauty services such as online scheduling, digital payment gateways, SMS-based reminders and check-ins, social media marketing, online opinion and reviews for word-of-mouth marketing campaigns, and rising popularity of beauty services among men will present the market with lucrative growth opportunities.

Market Overview

The global professional beauty services market has witnessed steady growth in recent years and is expected to continue growing at a CAGR of 5.00% between 2023 and 2030. The market was valued at USD 215.9 billion in 2022 and is expected to reach USD 303.79 billion in 2030.

What Are the Main Drivers of The Global Professional Beauty Services Market?

The global professional beauty services market is driven by several factors, including the factors such as rapid urbanization, lifestyle changes, an increase in the popularity of hair highlights, and rising salon service utilization would all help to expand the market for professional beauty services. Salons and other beauty service providers aim to give high-quality cosmetic treatments using cutting-edge technologies. Salons’ increased focus on hair care has increased client confidence and readiness to select hair dyes and associated procedures.

What Are the Major Challenges Faced by The Global Professional Beauty Services Market?

The global professional beauty services market also faces several challenges, including very little regulation in the professional beauty services sector. The beauty industry is unlike any other industry in that any regulated agency establishes no firm guidelines to govern it. In such a situation, numerous companies enter the professional beauty sector each year to take a piece of the market already occupied by established competitors.

What Are the Growth Opportunities in The Global Professional Beauty Services Market?

The global professional beauty services market offers significant growth opportunities, including throughout the forecast period, increasing technology integration in beauty services such as online scheduling, digital payment gateways, SMS-based reminders and check-ins, social media marketing, online opinion and reviews for word-of-mouth marketing campaigns, and rising popularity of beauty services among men will present the market with lucrative growth opportunities.

Executive Summary

Overview of the Global Professional Beauty Services Market

Industry growth is fueled by consumers’ increasing knowledge of professional beauty services and their accessibility in emerging regions. Several treatments are offered to both men and women, including hair and skin care, which draws a lot of customers. A few providers include value additions like complimentary drinks and meditation. The expansion of these services is boosting the growth of the total market. Innovations in beauty services, new technology, and equipment are also credited with the growth.

Market Definition

The market for professional beauty services provides cosmetic procedures to both men and women. Hair salons, nail salons, skincare services, and product sales are only a few of the industry’s numerous sub-segments. Many beauty salons advertise themselves as full-service with a wide range of services like haircuts, manicures, waxing, tanning, and skin care. Rising urbanization, changing lifestyles, and expanding hair-highlight trends influence the growth of the professional beauty services industry. Additionally, in recent years, professional beauty salons have concentrated more on nail care services, raising client confidence and readiness to choose nail enhancement, nail art, and associated procedures.

Market Insights

• The global demand for professional beauty services was valued at USD 215.9 Billion in 2022 and is expected to reach USD 303.79 Billion in 2030, growing at a CAGR of 5.00% between 2023 and 2030.
• 26 to 45 years is the leading segment by age group and held over 43% share in terms of value in 2022, while the 18 to 25 years segment is likely to exhibit the fastest CAGR during the forecast period.
• The hair service segment governs the global demand for professional beauty services, holding a massive share of over 80% in 2022, and is expected to grow at a rapid CAGR.
• The male segment is expected to post the highest CAGR during the forecast period, while the female segment is leading the market share with over 30% share in 2022.
• Asia Pacific is fueling the growth of the professional beauty services industry with over one-third share in 2022, while North America and Europe collectively account for just under 50% share in 2022. Europe held over 22% share in 2022.
• In the market for expert beauty services, the rise in per capita spending on home goods (including personal care items) across Asia-Pacific can be attributed to people’s growing knowledge of the benefits of leading a healthier lifestyle for a clean and hygienic lifestyle. At the same time, the lack of strict regulations restrains the market.
• The changing lifestyle of the Asia Pacific region is a major opportunity in the market.

Segmentation by Age Group

• 26 to 45 years is the leading segment by material and held over 43% share in terms of value in 2022.
• The 18 to 25 years will likely exhibit the fastest CAGR during the forecast period.

Segmentation by Service

• The hair service segment governs the demand for professional beauty services globally, holding a massive share of over 80% in 2022, and is also expected to grow at a rapid CAGR.
• The skin service segment contributes to the demand for professional beauty services.

Segmentation by Gender

• The male segment is expected to post the highest CAGR during the forecast period.
• The female segment is leading the market share with over 30% share in 2022.

Segmentation by Region

• Asia Pacific is fueling the growth of the professional beauty services industry with over one-third share in 2022.
• North America and Europe collectively account for just under 50% share in 2022, with Europe holding over 22% share in the same year.
• The rest of the World, including Latin America, The Middle East, and Africa, contributes the remainder to the demand for professional beauty services.

The increasing demand for professional beauty services can be attributed to the key elements influencing the demand for professional beauty services: the increase in awareness of one’s inner intelligence and exterior beauty.

The United States is one of North America’s largest markets for professional beauty services, with a significant market share. The United States has seen immigrants from many nations, colors, and genders come to live there over the past 20 years. The success of new enterprises has been made possible by multiculturalism, which has also boosted existing businesses. One sector that has experienced increased demand from all races is the professional beauty sector. Compared to other countries, Americans spend a lot more on cosmetic goods and services. The tendency is anticipated to continue in the hope that the U.S. economy will be in a stable/growth phase throughout the ensuing years.

India is also a major market for professional beauty services in the Asia Pacific region, with a significant market share. India’s economy is currently experiencing one of its finest times ever. India’s economy is well on its way up thanks to the expanding economy, enhanced business climate, higher government spending, and better employment prospects. The professional beauty sector is experiencing rising demand for its goods and services, just like any other sector. Due to their greater purchasing power, Indians have begun to consider their beauty significantly. In the past several years, many direct-to-consumer brands have emerged, including Plum, Mama Earth, and Beardo. Some domestic firms catering to men have also been seen in the beauty market competing against the major, well-established players with their distinctive and natural goods and services.

A number of factors, such as rapid urbanisation, changing lifestyles, an increase in the popularity of hair highlights, and rising salon service utilisation, all contribute to the growth of the market for professional beauty services globally. The goal of salons and other suppliers of beauty services is to deliver top-notch cosmetic procedures utilising cutting-edge technology.

The lack of regulation in the professional beauty services industry is only one of the difficulties the worldwide market for professional beauty services faces. The beauty business is unique from all other industries in that no regulatory agency has set any concrete rules to control it. In response, a large number of businesses enter the professional beauty industry each year in an effort to capture market share from well-established rivals.

Growth in the Number of Salons and Spas

The need for professional beauty services has significantly increased as the number of children worldwide has increased. Children can learn crucial cognitive abilities including problem-solving, form identification, and hand-eye coordination while engaging in professional beauty services. Furthermore, as parents try to reduce their children’s screen time, professional beauty services offer a screen-free alternative to amusement.

The demand for professional beauty services increases as consumers’ awareness of their appearance improves. Additionally, the trend of leading hotel brands attracting customers by providing them with premium services will likely support industry growth, as is the increase in salons and spas and key brand houses promoting several cutting-edge beauty treatments.

Growing Hair Issues Concerns to Increase Demand for Professional Hair Services

The most common type of professional beauty service is hair care, which significantly impacts market growth. The growing popularity of hair coloring, highlights, and other hair services propels the industry’s expansion. Additionally, an increase in demand for hair services is being driven by worries over hair problems like hair loss, dandruff, and dry hair.

Products for hair care, including shampoo, hair color, hair conditioner, hair styling, and hair oil, are becoming increasingly popular with consumers worldwide. According to the professional beauty services market report, expanding fashion trends, improvements in the personal beauty care sector, and consumer knowledge of haircare products are some factors causing the hair service segment to grow so quickly.

Increased employment of women is driving up spending on beauty services.

Because of their rising salaries and expanding middle-class population, consumers can now spend more on discretionary goods. Additionally, as the number of working women rises, so does their spending power. The need for professional beauty services is rising as more working women pay attention to fashion and beauty trends.

Women’s Demand for Beauty Services is Growing

The market has been divided into male and female segments based on consumer groups. The female market sector holds a market share for professional beauty services, supported by the increased use of feminine goods and services available globally. Services geared toward women are usually more expensive than services geared toward men. However, industry statistics show that rising skin care concerns and a male preference for grooming are also increasing the demand for male beauty services.

Absence of Regulations Combined with a Low Entry Barrier

There is very little regulation in the professional beauty services sector. The beauty industry is unlike any other industry in that any regulated agency establishes no firm guidelines to govern it. In such a situation, numerous companies enter the professional beauty sector each year to take a piece of the market already occupied by established competitors.

Since there are no established criteria for the services provided, some market participants attempt to make money by offering subpar services. Customers frequently have no idea what items are used by hair and skin care service providers, who profit by employing inexpensive or locally available goods. Such actions impede the development of other real notable services.

Rapid Technological Integration

Like all other industries, the professional beauty sector has undergone a significant technological transformation. Technologies like virtual reality, artificial intelligence, and 3D printing are revolutionizing the beauty industry.

Businesses are developing creative solutions to provide customers with the greatest possible resolution to their concerns. They are forming relationships with experts in the field to address issues like

The incorporation of technology has made life simpler for consumers because they can now schedule appointments and get consultancy services virtually.

An Individualized Approach to Customers

Looks and physical appearance are purely subjective. One person’s enjoyment of a trend or style does not imply that others will concur. Everyone desires some individualized service that is catered to their unique needs. According to the needs of their customers, providers of beauty services are developing customized services. These services, including haircuts, hair color, facial cream, tanning, etc., are customized by providing paid or gratuitous consulting services.

Due to the diversity of the clientele, a product or service that one age group may seek may not satisfy the needs of another age group. For this reason, a variety of specialized and personalized services are being offered by professional suppliers of beauty services.

Competitive Landscape

Key Players

The global professional beauty services market is highly competitive, with several key players. Some of the major players in the market and their market share are as follows:

• Tommy Gun’s Original Barbershop
• Lakme Salon
• Drybar
• Floyds 99 Holdings
• LLC
• Regis Corporation
• Toni&Guy
• Seva Beauty
• Deka Lash
• Kao Corporation
• Bariks Luxe Salon
• Beauty Connection Spa
• John Barrett
• Maison de Joelle
• L’Oréal Professionnel
• Fantastic Sams Franchise Corporation

These companies focus on product innovation, expanding their distribution channels, and mergers and acquisitions to stay ahead in the market. Hatch Beauty, a health and cosmetics business, purchased the consumer analytics platform Trendalytics in May 2022. Millions of searches on various social media platforms are collected and analyzed by Trendalytics to assist brands in improving their service and product offerings. The Function of Beauty, a market leader in cosmetics, purchased the customized skincare business Atolla in August 2022.

Summary of Key Findings

• A significant industry trend is the emergence of mobile and social salons driving market growth
• Market segmented by age group, services, gender, and region.
• 26 to 45 years of professional beauty services are the most preferred age group as in this age group; people face maximum hair and skin-related issues
• hair service and skin service are most commonly used for services.
• Female professional beauty services are the most preferred segment.
• Asia Pacific is leading market growth; the market is highly competitive with key players including Tommy Gun’s Original Barbershop, Lakme Salon, Drybar, Floyds 99 Holdings, LLC, Regis Corporation, Toni&Guy, Seva Beauty, Deka Lash, Kao Corporation, Bariks Luxe Salon, Beauty Connection Spa, John Barrett, Maison de Joelle, L’Oréal Professionnel, Fantastic Sams Franchise Corporation.

Future Outlook

• Positive outlook for the global professional beauty services market with significant growth potential in the Asia Pacific region
• An increase in salons and spas, a rise in the amount of money working women spend on beauty services, and a focus on personal hygiene and appearance drive growth.
• Challenges from the lacking regulations for entering new firms.
• Key players to focus on product innovation, expanding market reach and maintaining competitive pricing to stay ahead.

Segmentation

• By Age Group
  • 26 to 45 Years
  • 46 Years and Above
  • 18 to 25 Years
• By service
  • Hair Service
  • Skin Service
  • Nail Service
  • Merchandise Sales
• By Gender
  • Male
  • Female
• By Region
• North America
  • The US.
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • The U.K.
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • South-east Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America
• Middle East & Africa
  • GCC Countries
  • South Africa
  • Rest of the Middle East and Africa