Zion Market Research has published a new report titled “Spas and Beauty Salons Market by Type (Spas and Beauty Salons) and by Region (North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa): Global Industry Perspective, Comprehensive Analysis, and Forecast 2017-2024’’. According to the report, global spas and beauty salons market was valued at around USD 128.59 billion in 2017 and is expected to reach approximately USD 190.81 billion in 2024, growing at a CAGR of slightly above 5.80% between 2018 and 2024.
Global spas and beauty salons market has a huge potential comprising of both men and women beauty and personal care products and services. In this modern world, consumers are in search of places offering wellness solutions and services which can relieve stress from the busy lifestyle. Spas and beauty salons market continues to gain traction because of the advice and information offered by the spa professionals and beauticians related to skin and hair when not in a salon. The major portion of the global urban population prefers spa and salon services which help to rejuvenate and relax them from the daily and hectic business life.
The rising demand for healthy and standard lifestyles is one of the important factors fueling the growth of the market. The various types of spas offered to the consumers include medical spas, day spas, mineral spring’s spas, mud baths, and ayurvedic spas, among other types. The products used in the salons or spas can be made from natural and synthetic ingredients amalgamated with other herbal products or substances to keep the body healthy. The increasing disposable income, growing focus towards personal appearance, and availability and use of advanced techniques in spa technology are expected to boost the growth of global spas and beauty salons market.
Owing to the availability of personalized services, countries such as the U.S., France, Germany, the UK, and Japan are among the top contributors to the spas and salon market in terms of revenue and operations. The high adoption rate of spas and salons services by teenagers are also triggering the growth of this market. The geriatric population is also opting for these services keeping in mind the benefits offered by the spas and salons market such as pleasure, peace of mind, and fitness to its end users. The factor hindering the growth of this market is the high cost of skilled professionals operating in spas and salon industry. The expensive products, solutions, and services costs charged by the spa and salons also limit the growth of the spas and salon market. The launch of customized products and technological innovations in the spas and beauty salons industry is expected to offer tremendous opportunities in this market.
The spas and beauty salons market is segmented based on type and region. Type segment is categorized into spas and beauty salons. The spas segment is further bifurcated into day spas, club spas, medical spas, destination spas, mineral spring spas, and resort and hotel spas. Hair salon, waxing salon, nail salon, tanning salon, facials and skin care salon, and a full-service salon are the sub-segments included in beauty salons segment. Regional segmentation of the global spas and beauty salons market includes North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa with further country wise bifurcation into major countries such as the U.S., the UK, France, Germany, China, Japan, India, and Brazil.
The major players operating in the global spas and beauty salons market are Metropolis Salon & Dry Bar, The Roose Parlour and Spa, Butterfly Studio Salon & Spa, Robert James Salon and Spa, Muse Salon & Spa LLC, Metodo Rossano Ferretti Salon, Paul Labrecque Salon & Spa, Madeline Wade, and Salon U, among others.
The report segments global spas and beauty salons market as follows:
Spas and Beauty Salons Market: Type Segment Analysis
- Day Spas
- Club Spas
- Medical Spas
- Destination Spas
- Mineral Springs Spa
- Resort and Hotel Spas
- Beauty Salons
- Hair Salon
- Waxing Salon
- Nail Salon
- Tanning Salon
- Facials and Skin Care Salon
- Full-Service Salon
Spas and Beauty Salons Market: Regional Segment Analysis
- North America
- The U.S.
- Asia Pacific
- Latin America
- The Middle East and Africa
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