Global Professional Beauty Services Market Report 2023: Sector is Projected to Reach $348 Billion by 2031 at a CAGR of 4.8%

Dec 25, 2023

Global Professional Beauty Services Market

Dublin, June 09, 2023 (GLOBE NEWSWIRE) -- The "Professional Beauty Services Market By Service, By Gender, By Age Group: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.The global professional beauty services market was valued at $211,458.00 million in 2021, and is projected to reach $348,356.30 million by 2031, registering a CAGR of 4.8% from 2022 to 2031.

Key Market Players

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'Oreal Professionnel

Fantastic Sams Franchise Corporation

The professional beauty service market is a vast range of beauty products and services which includes hair cutting, nail care, and skin treatment. Growing consumer awareness regarding the availability of professional beauty services and emerging markets have driven beauty service to new levels with product innovations, modern equipment, and treatment techniques.

The types of services performed by beauty professionals are also becoming more advanced, particularly in skin-related services such as injectables and treatments with either machines or chemicals. Beauty professional services have become an indispensable feature of modern lifestyle of individuals.In addition, growth in consciousness about external beauty along with individual's internal intellect has become one of the major driving factors for the professional beauty service market. Moreover, traditionally, the beauty industry has been perceived as being largely women centric. However, with the changing mind sets and the rise of metro sexuality concept, the number of male customers has been steadily rising. Convergence of advancements, beauty, and lifestyle propels growth of the market during the forecast period.The rising popularity of eyebrow shaping, tattoos, and tattoo removal treatments are contributing to the growth in many hair and skin personal appearance occupations. Some establishments are also adding new services to attract customers, such as meditation, or food and beverage offerings with nail works. The expansion in the variety of services available will contribute to projected employment growth among the group of occupations that provide skin, hair, and nail care. In addition, an expanded customer base to include more men and increased offerings of services will also contribute to the professional beauty service industry.Moreover, increased online presence has raised awareness regarding online personal appearance. For many, skin appearance is increasingly important, as they spend more time on social media and video conferencing apps. Consumers, including those concerned with aging or damaged skin, seek facials, cleaning, and other skin treatments to improve their skin appearance. Many beauty and nail salons also offer mini sessions for facials or nail care, quick treatments at a lower cost.Skincare to make-up, a wide range of services are there to cover blemishes and dark spots on the skin. Various beauty services like waxing, threading, haircare, traditional saree draping, and make-up enliven the beauty. After the pandemic, the scenario for the professional beauty market has changed. COVID-19 made the lifestyle difficult due to lockdown and strict government restrictions. When it comes to beauty services, somehow visiting a salon seems quite risky due to the crowd over there. In such a scenario beauty services to the doorstep plays a major role which, in turn, propels the demand for the professional beauty service market.Professional beauty services combine the latest outlook technology with reliable products. The product consists of richly pigmented ingredients and skin essentials for a glamorous, fashion-forward look as per the requirement of the customers. Moreover, professional beauty services players have adopted innovative Strategies such as new product launches with natural ingredients and appealing packaging have been adopted by merchandise manufacturing companies to increase sales of their products. Moreover, the use of natural ingredients in professional beauty salons that do not harm the skin is a popular strategy of the business to attract more customers.The current generation of youth is more driven, they are self-aware and educated about the aspects of the industry, and they have a strong purchasing power. The perception is changing and smaller cities and towns are rapidly evolving toward the professional beauty services. Tier-II cities have a huge potential, yet an underdeveloped market that is waiting to be explored by the professional beauty service. Research shows that consumers in Tier-II cities are quite aware of the latest trends, products, and hair services that are available globally. One of the biggest influences for this lifestyle change has been the invasion of social media, and its ability to affect the lives of the younger population.Global per capita income has witnessed a strong growth rate over past few years, particularly in emerging economies. Increase in urbanization, growth of middle-class consumers, and surge in rate of female participation in labor force in many developing and developed markets has encouraged adoption of convenience-oriented lifestyles, making professional beauty services more desirable. According to estimates, per capita income in the next decade is expected to increase at a significant rate in developing countries compared to developed countries. This has significant implications for growth of the professional beauty service market.Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the professional beauty services market analysis from 2021 to 2031 to identify the prevailing professional beauty services market opportunities.

The market research is offered along with information related to key drivers, restraints, and opportunities.

Porter's Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.

In-depth analysis of the professional beauty services market segmentation assists to determine the prevailing market opportunities.

Major countries in each region are mapped according to their revenue contribution to the global market.

Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.

The report includes the analysis of the regional as well as global professional beauty services market trends, key players, market segments, application areas, and market growth Strategies.

Key Attributes:

Report Attribute

Details

No. of Pages

550

Forecast Period

2021 - 2031

Estimated Market Value (USD) in 2021

$211458 million

Forecasted Market Value (USD) by 2031

$348356.3 million

Compound Annual Growth Rate

5.1%

Regions Covered

Global

Key Market Segments

By Age Group

26 to 45 Years

46 Years and Above

18 to 25 Years

By Service

Hair Service

Sub Type

Hair Cutting

Hair Coloring

Skin Service

Sub Type

Skin Care

Injectable

Makeup

Nail Service

Sub Type

Manicure and Pedicure

Nail Extension

Merchandise Sales

By Gender

Male

Female

For more information about this report visit https://www.researchandmarkets.com/r/k5674n

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Attachment

Global Professional Beauty Services Market