Professional Beauty Services Market is to grow at a 5.2 % CAGR, with the United States leading the market through 2030

Professional Beauty Services Market to Hit USD 360.02 Bn by 2030

Professional Beauty Services Market was USD 252.48 Bn in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 5.2 % from 2023 to 2030, reaching USD 360.02 Bn by 2030. Customers are increasingly looking for personalized beauty services, such as skincare, haircuts, or treatments, that are catered to their requirements and preferences. People are more inclined to spend money on high-end beauty services, such as expensive skin care procedures, upscale haircuts, and unique beauty events, when their disposable income rises. As customers become more conscious of the possible health concerns connected with specific substances, there is a rising trend for beauty services that use organic or chemical-free products. As of 2023, there were around 444,102 licensed salons, spas, and barbershops in the United States.

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Professional Beauty Services Market Segmentation

By Service Type: Skin Care Services include Facial & Clean-ups, Make-up, Waxing/Hair Removal. Hair Care Services include Hair Cut and Styling, and Hair Colouring and Highlights. Nail Care Services include Manicure, Pedicure, and UV Gel Overlays, & Extensions. Massage and Spa Services include Massage and Spa Treatment.

By End User: Women have dominated the market for professional beauty services, which include anything from skin treatments to hair maintenance. Women are drawn to facials, clean-ups, waxing, and anti-aging procedures. Professional skin care services like facials and anti-aging treatments are becoming more and more popular among males. Nowadays, a lot of guys get massages to unwind or to ease tense muscles and stress.

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Professional Beauty Services Market Regional Analysis

North America, With the United States leading the way, is one of the biggest and most advanced marketplaces for professional beauty services. From 2023 to 2030, the U.S. beauty services market is anticipated to expand at a compound annual growth rate (CAGR) of around 2.5-4%. Luxury spa services are in demand, and nail art and professional manicures and pedicures have grown in popularity in the United States.

In Europe, there is a high demand for high-end beauty treatments because Europe is the origin of several luxury skincare and cosmetics businesses. Luxurious haircuts and colouring services are offered by upscale salons in nations like France and Italy. Major key players like Jean Louis David, Regis Corporation, L'Oréal Professional Products, and Beauty Industry France dominate the market.

APAC: The demand for beauty services is rising in nations like China and India due to rising economic growth and urbanization. The APAC region is expected to witness rapid growth, with a projected CAGR of around 6-8% over the next few years. Beauty services are a significant component of self-care routines in nations like South Korea and Japan, which propels market expansion.

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Professional Beauty Services Market Competitive Landscape

L'Oreal Professional Products: L'Oréal acquired Redken to strengthen its position in North America. L'Oréal also acquired Matrix, Kerastase, and Pureology. Also, L'Oreal acquired IT Cosmetics for $1.2 billion.

Regis Corporation: Regis Corporation acquired Supercuts, Smart Style. Also, Regis acquired Cost Cutters, Roosters, Pro-Cuts, and The Hair Club for Men and Women, a leader in hair restoration services. The business has more than 100 sites across North America.

Ulta Beauty: Ulta Beauty acquired Laura Geller Beauty, BareMinerals and Buxom, two popular prestige beauty brands owned by Shiseido. By acquiring L'Oréal's high-end salon brand Kerastase, Ulta Beauty entered the luxury hair care sector.

Conclusion

The market for professional beauty services has a wide range of consumers from different demographics and geographical areas, which presents many growth prospects, particularly for companies that can set themselves apart with creative service offerings, high-end goods, and customer-focused solutions.
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