Professional Beauty Services Market
The Business Research Company’s Professional Beauty Services Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Professional Beauty Services Global Market Report 2023 evaluates professional beauty services market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global market for professional beauty services is poised for significant growth, with projections indicating an impressive trajectory. In 2022, the industry was valued at $198.84 billion, and it is anticipated to surge to $213.4 billion in 2023, representing a robust compound annual growth rate (CAGR) of 7.3%. However, the landscape has been significantly impacted by the Russia-Ukraine conflict, which has reverberated throughout the global economy, hampering post-COVID-19 recovery efforts. The resulting economic sanctions, escalating commodity costs, and supply chain interruptions have ushered in a period of inflation across various sectors, impacting markets on a global scale. Nevertheless, the professional beauty services sector remains resilient, with projections indicating it will attain a valuation of $273.36 billion by 2027, sustaining a CAGR of 6.4%. These intricate dynamics underscore the industry’s ability to adapt and thrive amidst challenging geopolitical and economic conditions.
The burgeoning beauty and cosmetics industry is poised to be a major catalyst for the continued expansion of the professional beauty services market. The beauty and cosmetics sector encompasses a diverse array of personal products, ranging from skincare, color cosmetics, hair care, to fragrances. Furthermore, it includes services provided by salons and day spas, along with various associated activities. Within this multifaceted landscape, professional beauty service providers occupy a pivotal role, as they possess the expertise required to deliver an extensive repertoire of beauty services, including facials, nail care, and makeup applications. As a testament to the industry’s growth, recent data from the National Hair and Beauty Federation, a UK-based trade association representing the interests of hairdressing, barbering, and beauty salon proprietors, reveals a notable upswing in the number of hair and beauty enterprises. In the period spanning from March 2021 to March 2022, the UK witnessed a substantial increase of 2,215 establishments, reaching a total of 48,425 businesses. Moreover, the economic significance of this sector becomes apparent when examining its revenue figures. For the fiscal year 2020–2021, the hair and beauty sector generated a substantial $5.9 billion (£4.6 billion) in revenue. It is evident that the robust expansion of the beauty and cosmetics industry serves as a driving force behind the flourishing professional beauty services market.
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The professional beauty services market segments in the report are:
1) By Service Platform: Spa And Beauty Centers, Dermatological And Cosmetic Centers, Beauty Institutes, Other Service Platforms
2) By Service: Haircare Services, Skincare Services, Nail Care Services, Makeup And Cosmetics Services, Spa And Wellness Services, Other Services
3) By Consumer Group: Male, Female
4) By Age Group: Below 20 Years, 20 – 45 Years, Above 45 Years
5) Booking Type: Online, Offline
The table of contents in TBRC’s professional beauty services market report includes:
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