The opportunities in the Americas spas and beauty salon market are projected to reach a worth of US$138.2 Billion by the end of 2020, expanding at a CAGR of 7.20% during 2014–2020; the regional market stood at US$85.1 Billion in 2013.
The various geographical markets for spas and beauty salons are Central America, South America, and North America. Of these North America led the pack in 2013 and is trailed by South America. The growth in North America market will be majorly driven by the U.S. and Mexico whereas the major chunk of the revenue for South America is likely to come from Argentina and Colombia. The substantial demand for spas and beauty salons in these regions can be attributed to the rising proclivity of the populations for anti-aging skincare treatment services. The rising uptake of salon facial treatments for various skin types is a key factor accentuating these regional market.
Rising Awareness of Benefits of Spa Treatments on Aesthetics and Personal Care bolsters Uptake
The Americas spas and beauty salons market is driven primarily by the rising consumer awareness about their aesthetics and personal care. The need for spa treatments for optimum skin rejuvenation and acne treatment is propelling the demand for salon facials among people. The growing preference of skincare treatments among the regional population to get a radiant and healthy skin is catalyzing the growth of the market. The changing lifestyle approach to rejuvenating the body and mind for holistic well-being is a key aspect underpinning the demand for spa treatments across the Americas.
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The burgeoning number of spas and beauty salons are expected to reap huge gains from the rising demand for a vast spectrum of skin care treatments using natural and organic products. Efforts by these centers in bolstering the skills of their beauty therapists bode well for the market. In this regard, several prominent spas and beauty salons are constantly engaging in training programs of international repute. This is especially benefitting spa practitioners, thereby aiding in the attractive expansion of the Americas spas and beauty salons market.
Rapid Advances in Skincare Therapies and Methods create Lucrative Avenues
Advancements in new therapies and methods used by spas and beauty salons such as in body treatments, waxing, and massages, are helping these centers attract new customers. A number of these therapies aim on stimulating cellular regeneration in a natural way and reducing the effects of aging, thus underpinning the potentially lucrative demand in the market.
Substantial advances in skincare treatments are opening new, exciting prospects in the market. The rising adoption of new beauty equipment are aiding revenues to the Americas spas and beauty salons market. Furthermore, the rising demand for massage techniques for getting therapeutic benefits is accentuating the market.
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The study presented here is based on a report by Transparency Market Research (TMR) titled “Spas and Beauty Salons Market - South America, Central America and North America Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014–2020”.