Professional Beauty Services Market Is Predicted To Reach US$ 384.5 Billion By 2032

According to a recent analysis by Fact.MR, a supplier of market research and competitive intelligence, the Global Professional Beauty Services Market is anticipated to reach US$ 242.9 billion in 2022 and grow at a CAGR of 4.7% from 2022 to 2032. Because of advances in technology and an increasing worldwide average age, the industry is expected to expand.

The world’s population is ageing. The average age of the global population has dramatically increased over the past few decades due to governments’ one- and two-child policy in many nations, as well as an improvement in life expectancy rates.

As the world is becoming older, the need for professional beauty services is increasing and it is expected to continue to witness solid demand in the future also. People in the age bracket of 35 and above tend to spend more on beauty products/services. Like any other industry, the beauty industry also has not remained untouched by technology. Integration of technology has improved the service offerings by market players and has also benefitted end users with personalized solutions.

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Key Takeaways from Market Study

  • The global professional beauty services market is set to expand at a CAGR of 4.7% and reach US$ 384.5 billion by 2032-end.
  • The market exhibited 3.8% CAGR during the period 2017-2021.
  • Under service, hair cutting services dominate the market and are valued at US$ 95.8 billion in 2022.
  • East Asia led the overall market with 27% share in 2021.
  • Revenue from professional beauty services is expected to increase at CAGRs of 4.8% and 5.6%, respectively, in Europe and South Asia & Oceania.

Market Development

Prominent professional beauty service providers are

  • Amazing Lash Studio
  • Amazing Lash Studio
  • Cookie Cutters
  • Drybar
  • Fantastic Sams
  • Floyd’s Barbershop
  • Great Clips, Inc.
  • Lakme Salon
  • L’Oréal Professionnel
  • Regis Corporation
  • Seva Beauty
  • Sport Clips
  • The Lash Lounge
  • Tommy Gun’s Original Barbershop
  • Toni & Guy

The beauty industry continues to reflect a rollup despite extreme competition among major players. Market players are also integrating technology into their service offerings to capture a higher market share.

  • In May 2022, HatchBeauty, a wellness and beauty company, acquired Trendalytics, a consumer analytics platform. Trendalytics aggregates and analyzes millions of searches across different social media platforms to help brands in their product/service offerings.

Segmentation of Professional Beauty Services Industry Research

  • By Service :
    • Skin Care
    • Face Care
    • Injectable Services
      • Makeup Services
      • Waxing Services
      • Tanning Services
      • Others (Not Covered Elsewhere)
    • Hair Care
      • Hair Cutting
      • Hair Coloring
      • Hair Styling
      • Others (Not Covered Elsewhere)
    • Nails Care
      • Manicure
      • Pedicure
      • Nail Extensions
  • By Consumer Age :
    • 18-25
    • 26-45
    • 46 and Above
  • By Consumer Orientation :
    • Male
    • Female
  • By Region :
    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • Middle East & Africa

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global professional beauty services market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of service (skin care – face care, injectable services, makeup services, waxing services, tanning services, others (not covered elsewhere), hair care – (hair cutting, hair colouring, hair styling, others (not covered elsewhere), nail care – manicure, pedicure, nail extensions), consumer age (18-25, 26-45, 46 and above), and consumer orientation (male, female), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).

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