The personal services global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Personal Services Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The personal services market size has grown strongly in recent years. It will grow from $1271.06 billion in 2023 to $1379.77 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to changing lifestyles, aging population, health and wellness trends, rising disposable income, urbanization.
The personal services market size is expected to see strong growth in the next few years. It will grow to $1891.41 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to digital transformation, environmental sustainability, social engagement and wellbeing, cultural and diversity services. Major trends in the forecast period include digital transformation and online services, subscription and membership models, remote and virtual services, digital marketing and e-commerce.
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Scope Of Personal Services Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Personal Services Market Overview
Market Drivers –
The personal services market’s growth is expected to be aided by a stable economic growth forecast in many developed and developing countries. According to the International Monetary Fund (IMF), the global real GDP growth reached 3.6% from 2021 to 2023. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than developed markets in the forecast period. For instance, according to official data from the World Bank, the GDP of India increased to $3173.40 billion in 2021, compared to $2667.69 billion in 2020. Therefore, stable economic growth is expected to increase disposable incomes, driving the demand for personal services.
Market Trends –
Personal care service companies such as beauty salons and spas are increasingly marketing their services through online platforms. These websites or applications allow customers to book appointments with beauticians who provide services such as haircuts, styling, makeup, massage, and others at the customer’s premises. For instance, Lisa, an online platform offers haircuts, massages, manicures, and others at home upon making a prior booking. Other such online personal care service platforms include Glamsquad, Urbanclap, Luxit, and Glamazon.
The personal services market covered in this report is segmented –
1) By Type: Personal Care Services, Death Care Services, Dry-Cleaning And Laundry Services, Other Personal Services, Private Household Services
2) By Mode: Online, Offline
3) By Distribution Channel: Specialist Retail Stores, Supermarkets/Hypermarkets, Convenience Stores, Pharmacies/Drug Stores, Online Retail Channels, Other Distribution Channels
Subsegments Covered: Beauty Salons, Diet And Weight Reducing Centers, Spas & Massage Parlors, Other Personal Care Services, Funeral Homes And Funeral Services, Cemeteries And Crematories, Coin-Operated Laundries And Drycleaners, Dry-Cleaning And Laundry Services (except Coin-Operated), Linen And Uniform Supply, Pet Care (except Veterinary) Services, Photofinishing, Parking Lots And Garages, All Other Personal Services, In-house Workers, Outside Workers
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Regional Insights –
Asia-Pacific was the largest region in the personal services market in 2023. North America was the second-largest region in the personal services market. The regions covered in the personal services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Key Companies –
Major companies operating in the personal services market include Service Corporation International, Elis SA, Fantastic Sams, Weight Watchers International Inc, Spotless Group Holdings Ltd, Tivity Health, Dignity plc, Regis Corporation, ProSiebenSat.1 Media SE, CSC Serviceworks Holdings Inc., Great Clips Inc., Sport Clips Haircuts, Supercuts Inc., Massage Envy Franchising LLC, European Wax Center Inc., Hand and Stone Massage and Facial Spa, Massage Heights Franchising LLC, Elements Massage, L A Fitness International LLC, 24 Hour Fitness Worldwide Inc., Anytime Fitness Inc, Gold’s Gym International Inc, Planet Fitness Inc., CRUNCH Fitness International Inc, Orangetheory Fitness, SoulCycle Inc., Pure Barre, The Bar Method, CorePower Yoga LLC, Equinox Holdings Inc., Life Time Inc., PetSmart Inc., Rover Group, Inc., Wag Group Co, Chewy Inc., Petco Health and Wellness Company Inc., Banfield Pet Hospital, VCA Antech,Inc., Funeral Directors Life Insurance Co, Match Group Inc.
Table of Contents
1. Executive Summary
2. Personal Services Market Report Structure
3. Personal Services Market Trends And Strategies
4. Personal Services Market – Macro Economic Scenario
5. Personal Services Market Size And Growth
…..
27. Personal Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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