Hair and Beauty Salons Market

Global Hair and Beauty Salons Market Size (2024 to 2029)

The global hair and beauty salons market is expected to be valued at USD 227.07 billion by 2029 from USD 171.29 billion in 2024, progressing at a CAGR of 5.83% from 2024 to 2029.

Current Scenario of the Global Hair and Beauty Salons Market

The hair and beauty salons market has emerged as a trend and becoming more popular in today's modern world. A hair and beauty salon offers an eclectic range of services, including hair care, skin care, nail care, and other services to satisfy the customer's needs. The hair and beauty salons use professional products that enhance the customer's beauty, making the customer loyal to the salon. The hair and beauty salons market has surged in demand for the growing population's desire to look young and youthful. The hair and beauty salons market is exceptionally changing with the emerging new trends that retain their growth in the market. In addition, the emergence of new treatments in the market that promise to prevent hair loss, hair dandruff, face acne, face spots, and others have helped to incline the growth of the hair and beauty salons market.

MARKET DRIVERS

The rapid implementation and acceptance of new and cutting-edge treatments/therapies by people for hair and skin care is majorly propelling the growth of the hair and beauty salons market.

The hair and beauty salons market is also driven by providing international professional services that satisfy the customer's needs by providing quality service. The rising awareness and willingness of customers to maintain their beauty, appearance, and aesthetics is favoring the growth of the hair and beauty salons market. The growth of the hair and beauty salons market is also driven by factors such as increasing efforts by the hair and beauty salons to allure their customers by providing unique services, and discounts, promoting their services on digital media, and endorsing their brand through celebrities.

The hair and beauty salons market create opportunities by providing new and innovative services that satisfy consumer needs. The hair and beauty salons market can innovate and offer cutting-edge treatments to their different client needs, such as hair loss treatment, dandruff treatment, face spot removal, acne treatment, and laser treatment, catering to the needs of the customer. In addition, a growing trend for the hair and beauty salons market is to provide value-added services to their customers by giving complementary services like hair wash and deep conditioning treatments, which inclines the demand for the hair and beauty salons market and helps in retention of the customer's loyalty towards their brand.

MARKET RESTRAINTS

The emergence of new competition in the market to retain their customers and communicate with each customer by accepting their feedback is one of the biggest challenges to the market participants in the global market. In addition, the hair and beauty salons market tend to be hectic as the recruitment and retention of skilled beauty professionals impose a big challenge. Therefore, the hair and beauty salons market must create new strategies to retain its customer base by providing unique and innovative services and managing the threat of competition in the market.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Hair and Beauty Salons Market Analysis By Product Type

The hair care segment had the leading share of the global hair and beauty salons market in 2023, closely followed by the skin care segment. With the growing concerns for consumers' hair and skin-related issues, the demand for these services has sky-rocketed. The growing awareness among people regarding their appearances and aesthetics further propels the growth of the hair care and skin care segments. Segments such as nail care and feet care are recently emerging in demand with a conscious effort to care for nails and feet with services such as manicures and pedicures that help boost consumer confidence.

Other services such as waxing, hair, and face spa, and threading are all inclining to growth during the forecast period. As new and innovative technology is being implemented, such as laser hair removal treatments that have been a rage in that market due to their endorsement by celebrities, the demand for these services is growing gradually.

Global Hair and Beauty Salons Market Analysis By End-User

The female segment ruled the market in 2023 and the supremacy of the female segment in the global market is likely to continue throughout the forecast period. The hair and beauty salons use various strategies to allure female consumers. The services for female users in the hair and beauty salons market are numerous, catering to the needs of every consumer. On the other hand, the male segment is expected to grow at a considerable CAGR during the forecast period. The male segment is expected to do well as saloons provide men with various hair and skin maintenance services.

Global Hair and Beauty Salons Market Analysis By Distribution Channel

The salon segment is predicted to account for the largest share of the global hair and beauty salons market during the forecast period. The growing number of salon brands and rising awareness among consumers regarding the various services offered by the salons for the benefit of appearance and aesthetics are majorly driving the growth of the salon segment in the worldwide market.

The direct-to-consumer segment is predicted to grow at a healthy CAGR in the global market during the forecast period. For instance, emerging companies such as the Urban Company have shifted their market focus entirely by offering their salon services in the comfort of a consumer's home, where a salon professional reaches a consumer's home to provide a beauty service in India and such companies offering such services have been noticed in several countries and this trend is expected to accelerate in the coming years. In addition, the specialty stores segment is anticipated to grow at a healthy CAGR during the forecast period owing to the increase of specialty stores like nail art salons, manicure and pedicure salons, hair and beauty treatment salons, and others.

REGIONAL ANALYSIS

The Asia-Pacific region held the dominating share of the global market in 2023.

The number of people being conscious about their beauty and appearance among the countries of Asia-Pacific is one of the key factors propelling the growth of the APAC market. The growing number of hair spas and beauty salons across the APAC region is further fuelling the growth rate of the APAC market. Also, the urbanization of countries in the Asia Pacific Region has contributed to the growth of the Asia Pacific market in the surge in the global hair and beauty salons market.

The North American region is expected to account for a notable share of the worldwide market during the forecast period.

An increase in the standard of living and growing demand for salon services propel the growth of the North American market. Regions such as Europe, the Middle East & Africa, and Latin America are anticipated to see an inclination in demand for the hair and beauty salons market during the forecast period.

KEY PLAYERS IN THE GLOBAL HAIR AND BEAUTY SALONS MARKET

Companies such as Neville Hair and Beauty Salon, Fantastic Sams, Salon You, StyleSeat, AB Klipp AS, L'Oreal Professional Hair and Beauty Salon, Naturals Professional and Muse Salon & Spa are currently dominating the hair and beauty salons market.

RECENT HAPPENINGS IN THE MARKET

• In August 2022, the renowned companies Aveda and Nykaa collaborated to create Aveda x Nykaa Salon in Delhi, which aims to set new standards with plush services and vegan products. 
• In July 2022, the biggest company, L'Oreal Professionals, created a campaign subsidizing the price for salon color services- A Bit Like Eat Out To Help Out, which refunds 10 pounds to drive and support local salons to bounce back this summer.
• In February 2022, a leading company Green Trends, a salon of consumer goods firm CavinKare Ltd committed to donating 100 wigs to underprivileged cancer patients under its Corporate Social Responsibility initiative 'Shair," commemorating World Cancer Day.

DETAILED SEGMENTATION OF THE GLOBAL HAIR AND BEAUTY CLINIC MARKET INCLUDED IN THIS REPORT

This research report on the global hair and beauty clinic market has been segmented and sub-segmented into the following categories.

By Product Type

• Hair Care
• Skin Care
• Nail Care
• Feet Care
• Others

By End-User

• Male
• Female

By Distribution Channel

• Salon
• Direct-to-consumer
• Specialty Store

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa