Press release
Professional Beauty Services Market Poised for 7 % Growth, Set to Hit $313.51 Billion by 2029
Professional Beauty Services Market Size
The projected increase in the professional beauty services market is believed to be driven by the ongoing growth of the beauty and cosmetics industry. This industry includes a wide spectrum of consumer products such as skincare, color cosmetics, hair care products, perfumes, as well as service-oriented sectors such as salons and day spas. The role of professional beauty service providers is crucial in this industry as they are proficiently trained to offer a range of beauty treatments like facials, nail care, and makeup artistry. For example, the National Hair and Beauty Federation, a UK trade association representing hairdressers, barbers, and beauty salons, reported in June 2023 that the count of hair and beauty businesses in the UK increased by 2,215 between March 2021 and March 2022, totaling 48,425 enterprises. Hence, the rising beauty and cosmetics industry is fueling the growth of the professional beauty services market.
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What Is the projected market size and growth rate for the professional beauty services market?
Continual strong expansion has been observed in the professional beauty services market in recent years. With an increasing trend from $226.47 billion in 2024 to an estimated $241.29 billion in 2025, the market will advance at a compound annual growth rate (CAGR) of 6.5%. Factors contributing to the historical growth include economic advancement, the impact of social media, celebrity affiliations, cultural changes and urbanization.
Forecasts anticipate a robust expansion in the professional beauty services market size in the near future. The projection suggests an increase to $313.51 billion by 2029, with an annual compounded growth rate of 6.8%. Factors contributing to this growth in the forecast period include the influence of the experience economy, the drive towards sustainable beauty practices, inclusivity in beauty services, incorporation of wellness, and the preference for beauty consultations conducted remotely. Furthermore, major market trends identified for the forecast period include technological shifts, including advancements and digital transformations, utilization of features like virtual try-ons and augmented reality, the emergence of non-invasive aesthetic procedures, and a heightened emphasis on safety and hygiene standards.
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What are the emerging trends shaping the future of the professional beauty services market?
Technological developments are being recognized as an emerging trend in the professional beauty services industry. Firms that hold a prominent place in this market are leveraging new technologies to maintain their market position. This was demonstrated when The Estée Lauder Companies (ELC), a well-known American cosmetics firm, introduced its Voice-Enabled Makeup Assistant (VMA), an AI-driven beauty application for the visually impaired, in January 2023. Users are given audio cues and guidelines while applying makeup with the VMA, helping them to know if their lipstick, eyeshadow, or foundation is properly applied. The intelligent mirror functionality in VMA is powered by ELC's own machine learning-based Augmented Reality and Artificial Intelligence capabilities.
What major market segments define the scope and growth of the professional beauty services market?
The professional beauty services market covered in this report is segmented -
1) By Service Platform: Spa And Beauty Centers, Dermatological And Cosmetic Centers, Beauty Institutes, Other Service Platforms
2) By Service: Haircare Services, Skincare Services, Nail Care Services, Makeup And Cosmetics Services, Spa And Wellness Services, Other Services
3) By Consumer Group: Male, Female
4) By Age Group: Below 20 Years, 20 - 45 Years, Above 45 Years
5) Booking Type: Online, Offline
Subsegments:
1) By Spa And Beauty Centers: Day Spas, Med Spas, Hair And Nail Salons
2) By Dermatological And Cosmetic Centers: Dermatology Clinics, Cosmetic Surgery Centers, Skin Care Clinics
3) By Beauty Institutes: Specialized Beauty Schools, Training Institutes For Beauty Professionals
4) By Other Service Platforms: Home Service Beauty Providers, Mobile Beauty Services, Online Beauty Consultation Platforms
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Which region dominates the professional beauty services market?
North America was the largest region in the professional beauty services market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the professional beauty services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Which key market leaders are driving the professional beauty services industry growth?
Major companies operating in the professional beauty services market include L'Oreal Group., Ulta Beauty Inc., Sephora, Beiersdorf AG, Sally Beauty Holdings Inc., Matrix, Fantastic Sams Holding Corp., Great Clips Inc., The Lash Lounge, Regis Corporation, Paula's Choice LLC, Toni & Guy, Drybar LLC, Tatcha LLC, Floyd's 99 Holdings LLC, Dermalogica, Mamaearth, Tommy Gun's Original Barbershop, Kerastase, Ouai, Kut N Beauty Salon & Supply, Redken, La Roche-Posay, Sport Clips Inc., SkinCeuticals, Living Proof, Maxx Beauty Supply, HOME SALON, Lakme Salon
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What Is Covered In The Professional Beauty Services Global Market Report?
• Market Size Forecast: Examine the professional beauty services market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the professional beauty services market for a structured understanding.
• Key Players Overview: Analyze major players in the professional beauty services market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the professional beauty services market.
• Segment Contributions: Evaluate how different segments drive overall growth in the professional beauty services market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the professional beauty services market.
• Industry Challenges: Identify potential risks and obstacles affecting the professional beauty services market.
• Competitive Landscape: Review strategic developments in the professional beauty services market, including expansions, agreements, and new product launches.
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