Professional Beauty Services Market Research, 2031
The global professional beauty services market was valued at $211.5 billion in 2021, and is projected to reach $348.4 billion by 2031, growing at a CAGR of 4.8% from 2022 to 2031.
The professional beauty services market is segmented into Age Group, Service and Gender.
Professional beauty services market offers cosmetic treatments to both women and men. The industry includes various sub-segments such as hair salons, nail salons, skincare treatments, and merchandise sales. Many beauty services position themselves as full-service, offering a breadth of services including hairdressing, manicures, waxing, tanning, and skincare. Factors contributing to the growth of professional beauty service market is increasing urbanization, evolving lifestyles, and growing trends in hair-highlights. In addition, in recent years, professional beauty services have increased their focus on nail care services even further, boosting customer confidence and willingness to opt for nail extension, nail art, and related treatments.
The professional beauty services market is a vast range of products and service. The 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.
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 attractive packaging while increased presence on social media has been adopted by merchandise manufacturing companies to increase sales of their products. Furthermore, the use of natural ingredients in professional beauty salons that do not harm the skin is a popular strategy of the businesses to attract more customers.
According to U.S. Bureau of Labor statistics, on average, men get a haircut six times a year, compared with women who go to a salon about four times a year. Throughout the pandemic, people experimented with cutting and styling their own hair, or having someone at home try to do that for them, but many found it hard to match the quality provided by a professional stylist or barber. In addition, customers continue to seek a variety of treatments, including cuts, highlights, and straightening, that require skillful barbers and hairstylists. Trends in hair cutting and styling change over time, and these evolving trends are expected to continue to drive demand for hair and beauty salon professionals over the next decade.
Presently, professional beauty service has 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 use of cosmetics in the global market. Moreover, apart from women, there has been rise in use of cosmetics by men in their daily routines, which propels the growth of the global cosmetics market. This change in lifestyle has led to growth of the global professional beauty service market.
Moreover, global per capita income has witnessed a strong growth rate over the 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 have encouraged adoption of convenience-oriented lifestyles, making cosmetics more desirable. According to The World Bank estimates, the per capita income in the next decade is expected to increase at a significant rate in developing countries as compared to developed countries. This has significant implications for growth of the professional beauty service market.
The major restraint in the professional beauty service market is cost-related problems. The professional beauty services industry is being held back by the high cost of qualified therapy practitioners and poor penetration in developing countries. Moreover, beauty services consume a lot of time and overdoing any kind of service often causes negative effects.
The growing popularity of social media and the huge number of active users on social platforms have made it an integral part of services and brand marketing strategy. Significant change that propelled the professional beauty service industry forward has been the rise of social media, in particular of image-based social network. Social media gives power to smaller professional beauty service players. A visual medium is optimal for a professional beauty service, it allows to explore the visual potential of its merchandise products and services and incresases the professional beauty services market size.
Social media platforms like Instagram have enabled brands to cultivate a stronger image, interact with consumers directly, as well as creating an entirely new marketing category, that of influencers, which, in turn, have at times turned into fully-fledged entrepreneurs. Kylie Jenner, probably one of the most famous women in the world right now, was in 2021 crowned as the world’s youngest self-made billionaire, with her successful makeup line which surge the demand for professional beauty services market.
The Covid pandemic has changed the scenario and made the lifestyle difficult when it comes to professional beauty services. Consumers are demanding on-the-go beauty, which includes speedy services in-store and to the door mobile beauty service. UK based Blow Ltd started ‘Uber of beauty’ by offering manicures, blow dry, and massages that can be done at home, office, or wherever the client desires. Moreover, apps from companies like UrbanClap, GetLook, AtHomeDiva, and MyGlamm are giving men and women the freedom to seek beauty services at their places. Professional beauty service at home service provides a variety of services of a licensed professional which take care of grooming requirements which bost the professional beauty services market growth.
The market in the Asia-Pacific region offers lucrative growth opportunities for market players in the professional beauty services market. The increasing awareness about a healthier beauty lifestyle among individuals for a healthy and hygienic living has contributed to the increase in per capita expenditure on personal care across Asia-Pacific. Moreover, LAMEA’s exploding population, fast-growing middle-class individuals, improved business regulations, and rise in urbanization are major factors that drive the growth of the professional beauty services market size in LAMEA.
The global professional beauty services market segmentation on the basis of service, gender, age group, and region. On the basis of service, the market is categorized into hair service (hair cutting, hair coloring, and others), skin service (skin care, injectables, makeup, and others), nail service (manicure and pedicure, nail extension, and others), and merchandise sales. As per gender, it is divided into men and women. According to age group, the professional beauty service market is fragmented into 18 to 25 years, 26 to 45 years, and 46 years and above. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, Russia, France, Italy, Spain, Belgium, Netherland, and rest of Europe), Asia-Pacific (China, Japan, India, Indonesia, Malaysia, South Korea, Singapore, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Chile, UAE, Turkey, Saudi Arabia, South Africa, Egypt, Nigeria, Iran, and rest of LAMEA).
Based on service, the professional beauty services market is categorized into hair service (hair cutting, hair coloring, and others), skin service (skincare, injectables, makeup, and others), nail service (manicure and pedicure, nail extension, and others), and merchandise sales. Among these, the hair service segment occupied the major share of the market in 2021 and is projected to maintain its dominance during the forecast period. According to 2021 report of the National Hair & Beauty Federation (NHBF), there were more than 46,000 hair and beauty businesses operating in the UK in 2021, a 3% rise on the previous year, such factors surge the professional beauty services market demand.
Based on gender, the rise in consciousness about personal well-being and appearance has increased among men, which drives the professional beauty service market. The male segment is anticipated to grow at the highest rate during the forecast period as the male population is more concerned about hygiene and skin care, which is anticipated to create remunerative opportunities for stakeholders. In addition, the surge in demand for male professional beauty services globally is attributed to an increase in the desire to maintain a strong identity and self-image.
Based on the age group, the 26 to 45 years segment held the major share of the market in 2021 and is projected to maintain its dominance during the forecast period in professional beauty services market. The 18 to 25 years segment is anticipated to grow at the highest CAGR in the future. In the 18 to 25 years age group, the skin structure is heading toward adulthood. At this age group, there are many hormonal changes of puberty that can affect the skin drastically. These changes mainly occur on the face, chest, shoulders, and the back. All these factors surge the demand for the professional beauty service market in this segment.
Based on region, Asia-Pacific has the highest professional beauty services market share in 2021. Asia-Pacific occupied the largest market share of around 35.45% in the professional beauty service market The increasing awareness about a healthier lifestyle among individuals for healthy and hygienic living has contributed to the increase in per capita expenditure on household products (including personal care products) across Asia-Pacific.
The prominent players analyzed in professional beauty services market include Amazing Lash Studio, Cookie Cutters, Drybar, Fantastic Sams, Floyd's Barbershop, Great Clips, Inc., Lakme Salon, L'Oréal Professional, Regis Corporation, Sport Clips, The Lash Lounge, Tommy Gun's Original Barbershop, and Toni & Guy.
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 forecast 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 of professional beauty services market.
- In-depth analysis of the professional beauty services market share segmentation assists to determine the prevailing professional beauty services industry opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global professional beauty services market.
- Market player in professional beauty services market positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the professional beauty services market analysis of the regional as well as global professional beauty services market trends, key players, market segments, application areas, and market growth strategies.
Professional Beauty Services Market Report Highlights
| Aspects | Details |
 Market Size By 2031 | USD 348.4 billion |
 Growth Rate | CAGR of 4.8% |
 Forecast period | 2021 - 2031 |
 Report Pages | 550 |
 By Age Group |
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 By Service |
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 By Gender |
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 By Region |
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 Key Market Players | Lakme Salon, Kao Corporation, Maison de Joelle, Drybar, Beauty Connection Spa, Tommy Gun's Original Barbershop, Seva Beauty, Regis Corporation, Fantastic Sams Franchise Corporation, Deka Lash, Toni&Guy, Bariks Luxe Salon, Floyds 99 Holdings, LLC, L'Oréal Professionnel, John Barrett |
Analyst Review
According to the insights of CXO, the rise in consciousness regarding physical appearance among individuals as well as working-class professionals propels the growth of the professional beauty service market. Growing inclination toward personal appearance among teenagers and the geriatric population and availability of new beauty service technologies is anticipated to bolster the expansion of the global professional beauty service market. The growing demand for complex skin care treatment among the population especially teenagers and geriatric folks is the major factor propelling the evolution of the skin care segment on a global level. Additionally, the busy lifestyle and high demand for personal care among consumers are projected to surge the demand for the professional beauty service market.
Moreover, professional beauty services have witnessed prominent adoption in the developing countries such as India, owing to swift change in consumer lifestyle, increase in disposable income, and surge in need for professional beauty treatments due to early aging skin problems. Furthermore, increase in penetration of various online portals globally and rise in number of offers or discounts attract large consumer base to purchase merchandise beauty care products through online channels. Moreover, the online channel has increased consumer reach, making it a key source of revenue for many companies.
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.
Hair service is the leading service of professional beauty services market.
The Asia-Pacific is the largest region in the professional beauty service market.
The global professional beauty service 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.
The major players operating in the global professional beauty service market are Amazing Lash Studio, Cookie Cutters, Drybar, Fantastic Sams, Floyd's Barbershop, Great Clips, Inc., Lakme Salon, L'Oréal Professional salon, Regis Corporation, Sport Clips, The Lash Lounge, Tommy Gun's Original Barbershop, Toni & Guy.
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