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Future of the Professional Beauty Services Market: Trends, Innovations, and Key Forecasts Through 2034
Professional Beauty Services
Professional Beauty Services Market Size Growth Forecast: What to Expect by 2025?
The market size for professional beauty services has seen substantial growth in the past couple of years. It is slated to increase from $226.47 billion in 2024 to $239.43 billion in 2025, maintaining a Compound Annual Growth Rate (CAGR) of 5.7%. The historic surge in this sector can be linked to factors like economic escalation, influence of social media, celebrity endorsements, cultural transformations, and urbanization.
How Will the Professional Beauty Services Market Size Evolve and Grow by 2029?
The market for professional beauty services is projected to experience robust expansion in the coming years, reaching a value of $310.74 billion in 2029 with a compound annual growth rate (CAGR) of 6.7%. Factors contributing to this anticipated growth during the forecasted period includes the emergence of the experience economy, sustainability practices in the beauty sector, inclusive beauty solutions, wellness incorporation, and virtual beauty consultations. Significant trends for the forecast period include the digitization of processes, technological progression, virtual product testing and augmented reality, non-invasive aesthetic treatments, and stringent safety and hygiene norms.
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What Drivers Are Propelling the Growth of Professional Beauty Services Market Forward?
The burgeoning growth of the beauty and cosmetics sector is anticipated to fuel the evolution of the professional beauty services market. The beauty and cosmetics field encompasses a vast selection of personal goods such as skincare products, cosmetic color items, hair care, and fragrances, in addition to services including salons and day spas. Professional beauty service providers, trained in a variety of beauty procedures like facials, nail care, and makeup applications, hold an important place in this industry. For example, the National Hair and Beauty Federation, a trade association for hairdressing, barbering, and beauty salon business owners based in the UK, reported in June 2023 that the number of hair and beauty firms in the UK increased by 2,215 from March 2021 to March 2022, reaching a total of 48,425 businesses. Consequently, the growth of the beauty and cosmetics sector is sparking the expansion of the professional beauty services market.
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Which Emerging Trends Are Transforming the Professional Beauty Services Market in 2025?
The emergence of technological advancements is a prominent trend gaining momentum in the professional beauty services market. To maintain their market standing, key companies in the professional beauty services sector are integrating novel technologies into their operations. For example, The Estée Lauder Companies (ELC), a cosmetics firm based in the US, in January 2023, unveiled its Voice-Enabled Makeup Assistant (VMA), a beauty application facilitated by AI, designed for visually impaired individuals. VMA utilizes voice instruction technology to aid users during makeup application, providing aural feedback and recommendations on the uniformity of application of lipstick, eyeshadow, or foundation. VMA's revolutionary smart mirror technology is driven by ELC's proficiency in Augmented Reality and Artificial Intelligence, developed through machine learning.
What Are the Key Segments in the Professional Beauty Services Market?
The professional beauty servicesmarket 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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Who Are the Key Players Shaping the Professional Beauty Services Market's Competitive Landscape?
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
What Geographic Markets Are Powering Growth in 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
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