The Global Salons & Spas Industry
The industry is segmented by Salons and Spas. They are further classified into Day Spas, Club Spas, Medical Spas, Destination Spas, Mineral, Springs Spa, Resort and Hotel Spas. The salon category is segmented into Hair Salon, Waxing Salon, Nail Salon, Tanning Salon, Facials and Skin Care Salon, Full-Service Salon
Introduction
Spas and salons are designed for customers to relax and unwind while focusing on their appearance and mental well-being
The spas and beauty salons provide beauty and personal care products and services for both men and women. In the modern world, the adoption of spas and beauty salons is increasing owing to the rising demand for wellness solutions to reduce stress from the hectic lifestyle.
The spa professionals and beauticians present in the spas and beauty salons give advice and information related to skin and hair, which is another factor propelling the market growth.
Beauty salons offer cosmetic treatments to both women and men. The industry includes various sub-segments such as hair salons, nail salons and skincare treatments. Many salons position themselves as full-service, offering a breadth of services including hairdressing, manicures, waxing, tanning and skincare.
Table of Contents
Market Overview
The global Spas and Beauty Salons Market was estimated at USD 144.48 Billion in 2019 and is expected to reach USD 217.25 Billion by 2026
The Asia Pacific is the fastest-growing region in the spa resorts market. Rising disposable income and the rise in the tourism industry, especially in developing countries such as India and China, are key factors propelling growth.
The European region continues to be the world’s largest market for spa followed by North America.
Key Trends
In the spa market, the Resort and hotel spas category is estimated to exhibit the highest growth rate due to the rise in tourism, stressful and busy lifestyles in cosmopolitan areas, and rise in customer expenditure on beauty and wellness products.
In the salon market, the facials and skincare segment will see the highest growth. The growing demand for complex skin care treatment among the population especially teenagers and geriatric folks is the major factor propelling the evolution of facials and skincare salons on a global level.
Key Market Players
Some of the leading players in the secondhand apparel market are Bradley & Diegel Salon, Butterfly Studio Salon, Chris Chase, John Barrett Salon, Metropolis Salon & Dry Bar, Muse Salon and Spa, Robert James Salon and Spa, Rossaano Ferretti, Salon U, The Roose Parlour and Spa among others. The market players are investing in promotional activities, expansion of sales outlets to cater to growing demand from consumers.
Growth Drivers and Challenges
The increasing trend of modernization and a busy lifestyle are the primary reasons driving the development of the global Spas and Beauty Salons market
High standards of living and larger disposable incomes help consumers opt for services that help rejuvenate their skin and reduce stress, thereby boosting the market growth
The reason for the growth of the salon market is that more people want advanced treatments, such as hair color and straightening, and this trend is expected to continue.
Despite the opportunities, there are some challenges that remain. The high prices of spa and salon services is an obstacle to the growth of this market
The increased hygiene requirements due to Covid-19 have caused a reduction in the number of people opting for treatments.
Many spas have cut their costs dramatically without reducing their prices. This has endangered consumer confidence and also jeopardized customer loyalty towards the industry.