Press release
Personal Care Services Market Anticipated To Witness Robust Growth, Surpassing $654.16 Billion By 2029
Personal Care Services
What Is the Current Personal Care Services Market Size and Its Estimated Growth Rate?
The market size for personal care services has experienced swift expansion in the past few years. It's projected to escalate from a valuation of $415.93 billion in 2024 to around $458.29 billion in 2025, boasting a compound annual growth rate (CAGR) of 10.2%. The significant progress observed in the historic period is due to factors like quick urbanization, economic development in budding markets and the boom in wellness tourism.
The market size for personal care services is projected to witness robust expansion in the coming years, with a forecast to reach $654.16 billion by 2029, escalating at a compound annual growth rate (CAGR) of 9.3%. Such growth during the forecast period is due to factors such as an aging population, improved internet access, a booming wellness tourism sector, an increase in obesity rates, and the influence of social media. Noteworthy trends for the forecast period involve a transition to using organic salon services, using online platforms for personal care services, implementing artificial intelligence to meet customer demands, expanding men's personal care and spiritually-based services, introducing kids' spa and salon services, providing tailor-made products and services, and delivering specialized services.
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How Are Emerging Segments Shaping the Personal Care Services Market Landscape?
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:
1) By Beauty Salons: Hair Salons, Nail Salons, Makeup Studios
2) By Diet And Weight Reducing Centers: Weight Loss Clinics, Nutrition Counseling Centers, Meal Prep And Delivery Services
3) By Spas And Massage Parlors: Day Spas, Medical Spas, Massage Therapy Centers
4) By Other Personal Care Services: Personal Grooming Services, Skincare Clinics, Personal Training And Fitness Services
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Which Growth Factors Are Influencing Personal Care Services Market Expansion?
The personal care services market is anticipated to be driven by the increase in the aging population. This demographic shift, characterized by an expanding proportion of older individuals in the population, is due to increased life expectancies and lower birth rates. This results in a larger segment of elderly individuals in society, who often require personal care services to retain their independence, improve their quality of life, and assist with day-to-day tasks. For example, predictions from the United Nations, an intergovernmental organization based in the US, suggest that by January 2023, the global population of those 65 and older will have more than doubled, going from 761 million in 2021 to 1.6 billion by 2050. An even more rapid growth is expected in the 80 and older demographic. Consequently, the expansion of the elderly population is fueling the growth of the personal care services market.
Who Are the Dominant Players Across Different Personal Care Services Market Segments?
Major companies operating in the personal care services market include Weight Watchers International, Inc., Regis Corporation, Great Clips, Inc., Sport Clips, Inc., Ratner Companies, L.C., Jenny Craig, Inc., 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, 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, The Massage Company, ChioChio, Alto Senso, Amoveo Spa, Karuna Spa, Expat Salon, Carolline Thai Spa, Oasis Beauty Day Spa, Isla Masaz & 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
What Personal Care Services Market Trends Are Gaining Traction Across Different Segments?
Leading organizations in the personal care services sector are strategizing towards introducing innovative services, including home health care services, with an aim to broaden their offerings and cater to the rising consumer preferences for convenience and tailor-made services. Home health care services encompass an array of both medical and non-medical aide offered at the patient's home. Taking an example, Star Health, a health insurance firm based in India, introduced Home Health Care services spanning across more than 50 cities nationwide in July 2024, thereby delivering easy-to-access healthcare right to patients' residences. The service, which sees partnerships with providers like Care24 and Portea, provides treatment for a myriad of health conditions such as fever and gastroenteritis. It offers a completely cashless system, taking care of all charges related to nursing, medications, and lab tests, ensuring that no extra costs are incurred by patients. A dedicated toll-free number, as well as the Star Health Mobile App, allow for easy access to these services and guarantee quick dispatch of healthcare professionals.
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Which Geographic Regions Are Expected to Dominate the Personal Care Services Market in the Coming Years?
Asia-Pacific was the largest region in the personal care services market in 2024. North America was the second-largest region in the 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
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Personal Care Services Market?
2. What is the CAGR expected in the Personal Care Services Market?
3. What Are the Key Innovations Transforming the Personal Care Services Industry?
4. Which Region Is Leading the Personal Care Services Market?
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