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Personal Care Services Market Insights: Analyzing Size, Share, Key Segments, Demand Trends, and Growth Forecast
Personal Care Services Market
Personal Care Services Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $697.41 billion In 2028 At A CAGR Of 9.4% :
The personal care services market size has grown strongly in recent years. It will grow from $444.2 billion in 2023 to $487.29 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The growth in the historic period can be attributed to rapid urbanization, economic growth in emerging markets and rise in wellness tourism.
The personal care services market size is expected to see strong growth in the next few years. It will grow to $697.41 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to rising geriatric population, increasing internet penetration, growing wellness tourism industry, rising obese population and social media. Major trends in the forecast period include shifting to organic salon services, adopting online personal care services, use of artificial intelligence to cater to the demand of the costumers, offering more male personal care services and spiritual based services, extending kid's spa and salon, offering personalized products and services, and offering niche services.
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Personal Care Services Market Major Segments
The personal care services market covered in this report is segmented -
1) By Type: Beauty Salons, Diet And Weight Reducing Centers, Spas & Massage Parlors, Other Personal Care Services
2) By Gender: Male, Female
3) By Age Group: Below 15, 15-40, Above 40-65, Above 65
4) By Type of Premise: On-Premise, Off-Premise
Subsegments Covered: Hair Salons, Body Beauty Salons, Nail Salons, Tattoo Parlors, Hair Replacement Services, Other Services
Key Driver - Population Aging A Catalyst For Personal Care Services Market Growth
Population aging will be a driver of the personal care services market going forward. During 2018-2022, the number of people over 65 is expected to increase from approximately 550 to 650 million globally, an increase of 18% according to the Population Reference Bureau. The increasing size of the geriatric population coupled with an increasing focus on healthy lifestyles among the geriatric population will increase the demand for personal care services such as spa and massage services, driving the market.
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Prominent Trend - Beauty Salons Embrace Organic Products For Health-Conscious Clients
Beauty salons are using organic products to cater to the increasing demand for healthy products. Organic products are natural products that are prepared using natural or organic ingredients without the use of harmful chemicals. The supply of locally-sourced raw materials makes organic products more accessible and affordable to the customers. Some of the organic products being used by hair salons include organic hair oil, hair spray, shampoos, hair gels, hair colors, dyes, and other hair styling products. The organic personal care market is expected to grow at 10% to reach $25 billion by 2025, thus indicating a significant potential for organic salons. Hair salons such as Organic Natural Hair salon use organic products.
Personal Care Services Market Players
Major companies operating in the personal care services market report are Weight Watchers International, Inc., Regis Corporation, Great Clips, Inc., Sport Clips, Inc., Ratner Companies, L.C., Jenny Craig, Inc., L'Oréal S.A., Toni & Guy, Lakme Lever Private Limited, Bijin Salon & Spa, Naturals, Jawed Habibs Hair and Beauty Salon, Shahnaz Husain, VLCC, Affinity Salon, Catherine De France Hair & Beauty Salon, MetodoRossano Ferretti, Eric Paris Salon, Enoshima Island Spa, Elana Jade Beauty Spa, Aman Tokyo Spa, Trumps Spa, Chuan Spa, Bosley Inc, Tivity Health, Hair Cuttery, Bijin Salon Spa, BistroMD, Muse Salon & Spa, Salon U, Badano-Guzmán, Cerini, Spa Yaten, Termas Villa Elisa, Faena Spa, Spa Holistico Alex Lisboa, Namaste Terapias Corporais, Venus' Spa, Retrô Hair, Le Due Salone, Sólo para Muñecas, Lanserhof, Ritz Carlton, Clarins, Fonteverde, Lefay Resort & Spa Lago di Garda, Chelsea Day Spa, Nirvana Spa, Four Seasons Spa, The Bvlgari Spa, Thermae Bath Spa, Terme di Saturnia, L'Oreal, The Massage Company, ChioChio, Alto Senso, Amoveo Spa, Karuna Spa, Expat Salon, Carolline Thai Spa, Oasis Beauty Day Spa, Isla Masaż & Spa, Beauty Partners, Re Salons Spas, Maria Dowling, JetSet, Belle Femme, Toni&Guy, Cambridge Weight Plan, The Armani/Spa, Timeless Spa, Moksha Spa, Mandara Spa, Capelli Salon and Beauty Parlour Ltd, Oloreo Beauty Company, Family Affair, BeautyAddict.
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the personal care services market in 2023. North America was the second-largest region in personal care services market. The regions covered in the personal care services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Personal Care Services Market Report Structure
3. Personal Care Services Market Trends And Strategies
4. Personal Care Services Market - Macro Economic Scenario
5. Personal Care Services Market Size And Growth
…..
27. Personal Care Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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