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Hair Salon Service Market Size
- Report ID: GMI6809
- Published Date: Aug 2024
- Report Format: PDF
Hair Salon Service Market Size
Hair Salon Service Market size was valued at USD 71.5 billion in 2023 and is anticipated to register a CAGR of 6% between 2024 & 2032. Driven by a growing focus on personal grooming and beauty, the market has seen steady growth.
According to the Professional Beauty Association, the industry has grown by 5% annually over the past five years. A key driver of this expansion is the rising disposable income across various demographics, enabling consumers to indulge in discretionary services like haircuts, color treatments, and specialized hair care. Moreover, social media's influence, coupled with the beauty industry's focus on aesthetics, has amplified the demand for hair styling and maintenance. The surge in salons targeting specific niches, such as men's grooming or eco-friendly products, underscores the market's diversification and expansion.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Hair Salon Service Market Size in 2023: | USD 71.5 Billion |
| Forecast Period: | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR: | 6% |
| 2032 Value Projection: | USD 119.8 Billion |
| Historical Data for: | 2021 - 2023 |
| No. of Pages: | 210 |
| Tables, Charts & Figures: | 49 |
| Segments covered: | Service Type, Consumer Group, Salon Type, Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Technological innovations in the beauty sector have further fueled this growth. The Salon Association reports that 70% of salons now use digital tools for bookings and customer management, enhancing convenience and retention. Simultaneously, the emergence of new hair care treatments and products, particularly organic and sustainable options, has opened up new revenue avenues. Franchise models have facilitated rapid expansion for salon chains, capitalizing on economies of scale and brand recognition, and simultaneously attracting new investors. Collectively, these dynamics are reshaping the hair salon service industry's landscape.
One of the primary challenges in the hair salon service is intensifying competition from independent salons and large chains alike. With new entrants consistently emerging, salons are compelled to stand out, either through distinctive offerings or enhanced customer service, to keep their clientele. According to the Professional Beauty Association, the number of salons in the United States has increased by 5% annually, highlighting the competitive landscape.
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Hair Salon Service Market Scope
