Home Hair spa With a CAGR of 6%, the size of the spa and beauty salon market will reach $217.25 billion by 2026

With a CAGR of 6%, the size of the spa and beauty salon market will reach $217.25 billion by 2026

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Facts and factors

[210+ Pages Report] The global spa and beauty salon market size and share is expected to reach approximately USD 217.25 billion by 2026 growing at a compound annual growth rate (CAGR) of approximately 6% between 2020 and 2026. Major players of the market are listed in the report. with their sales, revenue and strategies are Madeline Wade, Butterfly Studio Salon and Spa, Salon U, Metropolis Salon and Dry Bar, Paul Labrecque Salon and Spa, Metodo Rossano Ferretti Salon, The Roose Parlor & Spa, Robert James Salon and Spa , Muse Salon & Spa, and others.

NEW YORK, USA, Sept. 08, 2022 (GLOBE NEWSWIRE) — Facts and Factors has released a new research report titled “Spas and Beauty Salons Market by Type (Spas and Beauty Salons) and Region: Global Industry Outlook, Market Size, Economic Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends and forecasts 2020-2026 ” in its research database.

“According to the latest research study, the demand for Size of the spa and beauty salon market &share was valued at approximately USD 144.48 billion in 2019. The market is expected to grow above a CAGR of 6% and is expected to reach over USD 217.25 billion by 2026.”

The report analyzes the drivers and restraints for the Spas and Beauty Salons market and their impact on demand throughout the projection period. Additionally, the report examines the global opportunities in the global spas and beauty salons market.

What are spas and beauty salons? How big is the spa and beauty salon industry?

Market Overview:

Spas and beauty salons offer beauty and personal care products and services for both men and women. In the modern world, the adoption of spas and beauty salons is increasing due to the growing demand for wellness solutions to reduce the stress of hectic lifestyle. Spa professionals and beauticians present in spas and beauty salons provide advice and information related to skin and hair, which is another factor propelling the growth of the market.

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  • Introduction, overview and in-depth industry analysis are all included in the 2022 updated report.

  • Impact analysis of the COVID-19 outbreak is included in the package

  • Provide detailed chapter-by-chapter guidance upon request

  • Updated regional analysis with graphical representation of size, share and trends for the year 2022

  • Tables and figures have been updated

  • The most recent version of the report includes major market players, their business strategies, sales volume, revenue analysis, SWOT analysis, major industry players, historical and forecast growth, Porter’s 5 forces analysis

  • Methodology for finding facts and factors

Key insights from primary research

  • According to the analysis, the spa and beauty salon market is expected to grow above a CAGR of around 6% between 2020 and 2026.

  • The market size of spas and beauty salons market was worth approximately US$144.48 billion in 2019 and is projected to reach approximately US$217.25 billion by 2026. Due to various driving factors, the market is expected to grow to a significant rhythm.

  • The resort and hotel spa category is expected to grow at a faster rate in the global spa and beauty salon market.

  • Facial care and skin care salons are expected to show a faster growth rate.

  • Based on region, North America is expected to dominate the global spa and beauty salon market over the forecast period.

Competitive players

The report contains qualitative and quantitative research on the global spas and beauty salons market, as well as detailed information and development strategies used by key competitors. The report also provides an in-depth analysis of key market competitors along with insights into their competitiveness. The research also identifies and analyzes significant business strategies employed by these major market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company’s global presence, competitors, service offerings and standards.

Some of the key players in the global spas and beauty salons market include;

  • Madeleine Wade

  • Papillon Studio Salon and Spa

  • Lounge U

  • Metropolis Lounge and Dry Bar

  • Salon and Spa Paul Labrecque

  • Salon Metodo Rossano Ferretti

  • The Roose Salon and Spa

  • Robert James Salon and Spa

  • Muse Salon & Spa

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Market factors

Growing modernization and hectic lifestyle are major reasons fueling the development of the global spa and beauty salon market. Moreover, the high standard of living and growing disposable income are motivating consumers to opt for such services to rejuvenate their skin and reduce stress, thereby driving the growth of the market. It is estimated that the growing demand for natural or herbal products to keep the body healthy will further expand this market.

Apart from this, the growing trend of personal appearance among teenagers and geriatric population and the availability of new spa technologies are expected to bolster the expansion of the global spa and beauty salon market. The consumer focus on peace of mind, enjoyment, and fitness helps propagate the market. However, expensive beauty and spa products and expensive services limit the advancement of the relevant market.

Segmentation analysis

The resort and hotel spa category is estimated to have the highest CAGR due to increased tourism, hectic lifestyles in cosmopolitan areas, and escalating customer spending on beauty products and well-being. Recreational facilities such as the swimming pool offered by the resort and the spas of the hotels to customers also contribute to boosting the progress of the category.

The increasing demand for complex skincare among the population, especially the teenagers and the elderly, is the major factor propelling the evolution of facials and skincare salons globally. Additionally, the hectic lifestyle and high demand for personal care among consumers is expected to drive the expansion of the spa and beauty salon market.

Regional analysis

North America is expected to dominate the global spa and beauty salon market over the forecast period. The growth of the market is attributed to growing consumer concerns regarding personal appearance and changing lifestyle. Moreover, the growth of the spas and beauty salons market contributes to the changing consumer perception towards beauty salons and spa services. Adoption of international standards and new techniques and therapies to refine training programs to meet growing consumer needs is likely to drive the global spa and beauty salon market.

Browse full »Spas and Beauty Salons Market by Type (Spas and Beauty Salons) and Region: Global Industry Outlook, Market Size, Economic Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends and forecasts 2020-2026 ” Report to https://www.fnfresearch.com/global-spas-and-beauty-salons-market-by-type-804

Answers to key questions in this report:

  • What is the predicted market size and growth rate for the spa and beauty salon industry?

  • What are the major driving factors driving the Spas and Beauty Salons Market?

  • What are the main companies in the spa and beauty salon industry?

  • What segments does the Spas and Beauty Salons market cover?

Report Scope:

Report attribute

Details

Market size in 2019

$144.48 billion

Market size forecast in 2026

$217.25 billion

CAGR growth rate

6% CAGR

Year of reference

2019

Forecast years

2020-2026

Main market players

Madeline Wade, Butterfly Studio Salon and Spa, Salon U, Metropolis Salon and Dry Bar, Paul Labrecque Salon and Spa, Metodo Rossano Ferretti Salon, The Roose Parlor & Spa, Robert James Salon and Spa, Muse Salon & Spa, and others

key segment

By type and region

Main regions covered

North America, Europe, Asia-Pacific, Latin America, Middle East and Africa

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The global spa and beauty salon market is segmented as follows:

Type segmentation analysis

  • Spas

    • day spas

    • Club Spas

    • Medical spas

    • Destination spas

    • Mineral Springs Spa

    • Resort and hotel spas

  • Beauty salons

By region

  • North America

  • Europe

    • France

    • Great Britain

    • Spain

    • Germany

    • Italy

    • The rest of Europe

  • Asia Pacific

    • China

    • Japan

    • India

    • South East Asia

    • Rest of Southeast Asia

  • The Middle East and Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

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