Global Spas and Beauty Salons Market was valued US$ 128.59 Bn in 2017 and is expected to reach US$ 190.81 Bn by 2026, at a CAGR of 5.06% during a forecast period.
The global spas and beauty salons market is segmented into product type and region.
On the basis of product type, the global spas and beauty salons market is classified into spas, and beauty salons. The spas segment is further sub-segmented as day spas, club spas, medical spas, destination spas, mineral spring’s spa, and resort and hotel spas. The beauty salons are further separated into the hair salon, waxing salon, nail salon, tanning salon, facials, and skin care salon, and a full-service salon.
The report covers analysis, market forecast and competitive landscape of the industry by region. Regions are segmented by North America, Europe, Middle East & Africa, Asia Pacific, and Latin America.
Based on product type, spas segment is further sub-segmented as day spas, club spas, medical spas, destination spas, mineral spring’s spa, and resort and hotel spas. Among those, day spas provide a wide range of services, treatments, and facilities and relaxation treatments during the day. Day spas provide meals and spa treatments in addition to facilities such as well-equipped gyms, relaxation lounges or bars, and beauty salons where treatments like nail services or other beauty services are provided. According to spas and beauty salons industry research report, the day or club salon segment is account for the major shares of the spa market throughout the forecast period.
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The major driving factor of global spas and beauty salons market is the rise in wellness tourism, increase demand from teenagers, growing geriatric population, hectic lifestyles in metropolitan areas, and rise in customer spending on wellness and beauty products as they help to get relieved from stress, and innovative marketing strategies. Additionally, changing consumers perception towards personal care coupled with the desire to look and feel good is boosting the growth for spa and beauty salons market. Moreover, they are beneficial in treating medical ailments, detoxifying the body, reducing weight, and improving the immune system.
The high cost of skilled therapy professionals and low penetration in the underdeveloped countries are hindering the global spas and beauty salons market growth.
The ever-increasing demand from the teenagers across the world towards spas and beauty salons is expected to provide significant opportunities in this market.
In terms of region, North America held the largest market share in America’s spas and beauty salons market followed by Latin America due to rising consumer concerns over personal appearance and lifestyle. Consumer awareness of the benefits associated with spas and beauty salon services is also propelling the growth of the Americas spas and beauty salons market.
The top players in global spas and beauty salons market are Muse Salon & Spa LLC, Salon U, The Roose Parlour and Spa, Metropolis Salon & Dry Bar, Robert James Salon and Spa, Butterfly Studio Salon & Spa, Chris Chase Salon, John Barrett Salon, Metodo Rossano Ferretti Salon, and Madeline Wade.
Scope of Global Spas and Beauty Salons Market:
Global Spas and Beauty Salons Market, by Product Type:
• Beauty Salons
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Global Spas and Beauty Salons Market, by Region
• North America
• Middle East & Africa
• Asia Pacific
• Latin America
Key players operated in Global Spas and Beauty Salons Market:
• Muse Salon & Spa LLC
• Salon U
• The Roose Parlour and Spa
• Metropolis Salon & Dry Bar
• Robert James Salon and Spa
• Butterfly Studio Salon & Spa
• Chris Chase Salon
• John Barrett Salon
• Metodo Rossano Ferretti Salon
• Madeline Wade