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Professional Beauty Services Market was valued at over USD 200 billion in 2022 and is expected to grow at a CAGR of over 4.5% during the forecast period. The growing consumer awareness of professional beauty services and their availability in emerging markets are driving industry growth. A large number of services, such as hair & skin care, are available for both men and women, attracting a number of consumers. A few services come with value add-ons including free beverages and meditation. The expansion of these services is boosting the overall market growth. The growth is also attributed to product innovations, modern equipment, and treatment techniques in beauty services.
The growing social media presence has increased user awareness of their online image. For many people spending more time on social media and video conferencing apps, the appearance of their skin has become increasingly important. Consumers concerned about aging or damaged skin are turning to facials, cleansing, and other treatments to improve their skin. Many beauty and nail salons also offer mini facial or nail care sessions as quick treatments at affordable costs. The easy availability of products and home visit services are driving the overall professional beauty services market.
The presence of harmful chemicals in cosmetic products is hindering professional beauty services market growth The regular use of makeup & hair products can lead to skin damage, irritation, and other side effects. Manufacturers are launching natural & organic products, which can expand the market during the forecast period.
Based on service, the professional beauty services market from skincare segment is expected to develop significantly over the forecast period. Consumers are increasingly turning toward natural beauty products, and face creams, serums & moisturizers infused with natural ingredients are expected to show huge demand over the forecast period. These products are more effective and have little or no side effects, increasing their adoption by consumers. Manufacturers are focused on launching products with zero toxic materials, and many vegan skincare products are becoming an industry trend.
Based on gender, the female segment is expected to grow significantly during the forecast period. The rising number of working women and beauty consciousness among women are driving the female segment growth. Women are increasingly using beauty services to enhance their confidence and appearance. This trend is driving the demand for skincare products containing active ingredients with healing & nourishing properties, including face creams & lotions, repair creams, exfoliators, masks, serums, compact powders, and scrubs.
Asia Pacific is expected to grow steadily during the projected timeframe. The expanding beauty & cosmetic industry is augmenting the regional professional beauty services market growth. Countries including China and India are major suppliers of raw materials. According to the International Trade Administration, China's cosmetics industry has seen steady growth in recent years, driven by the rising demand for high-end products and the increasing number of working women. The overall market grew by over 150% between 2012 and 2020, and household spending on personal care and cosmetics is expected to increase by 6.3% by 2025. The rising per capita income in emerging countries, such as India and China, is further fueling industry growth.
Some key players in the beauty & personal care product market are Beiersdorf AG, L’Oréal Group, Cookie Cutters, Drybar, Fantastic Sam’s, Floyd's Barbershop, Great Clips, Inc., Lakme Salon, L'Oréal Professionnel, and Toni & Guy. These companies invest heavily in ingredients, functionality, and packaging to improve product quality and innovations. Major players engage in mergers & acquisitions and product innovations as key strategies to achieve integration and product optimization. These companies are merging with local players to establish themselves in the local market.
The above information has been provided for the following regions and countries: