Professional Beauty Services Market - By Services (Skin Care, Hair Care, Nail Care, Others), By Gender (Male, Female), Forecast, 2023 - 2032

Professional Beauty Services Market Size

Professional Beauty Services Market size was valued at USD 213.9 billion in 2022 and is projected to register a CAGR of over 5% between 2023 and 2032. The rising awareness of beauty, coupled with a growing desire for self-care & grooming, has been a significant factor driving the market growth.
 

Consumers are placing a premium on personal appearance and overall well-being, thereby fueling the demand for expert services such as spa treatments, skincare, haircare, and makeup application. This trend is fostering innovations & growth in the beauty industry as individuals seek professional expertise to enhance their physical & emotional well-being.
 

The growing consumer concern about aging and damaged skin is the key factor driving the market progress. As individuals seek effective solutions to address skin issues and maintain a youthful appearance, they increasingly turn to professionals for treatments such as facials, chemical peels, and non-invasive cosmetic procedures. This trend is bolstering the demand for expert skincare services and promoting innovations in the beauty industry as consumers prioritize skin health and rejuvenation.
 

Rising operating costs pose a significant pitfall for businesses in the European market. Operating costs, encompassing a wide range of expenditures including rent, utilities, product procurement, and wages, can exert substantial pressure on the financial sustainability of beauty service providers. The primary challenge associated with escalating operating costs is the potential reduction in profit margins. As these costs increase, businesses will find it challenging to maintain profitability, especially if they are unable to pass on the added expenses to customers through higher prices.

COVID-19 Impact

The COVID-19 pandemic had profoundly negative impacts on the professional beauty services market. Lockdowns, social distancing measures, and safety concerns led to the temporary closure of salons & spas, resulting in significant revenue losses. The consumer reluctance to visit such establishments due to health & safety fears further hampered industry recovery. Supply chain disruptions also affected product availability. Despite the gradual reopening, the industry continues to grapple with reduced demand and operational challenges, thereby hindering its growth.
 

Professional Beauty Services Market Trends

The introduction of fully autonomous robots for manicure services is estimated to propel the market demand. For instance, in March 2023, XWELL, Inc., a leading provider of health & wellness solutions for individuals with active lifestyles, entered a collaborative initiative with Clockwork, a company specializing in beauty industry robotics, to launch the latter’s state-of-the-art, fully autonomous, and AI-driven express manicure service at the XpresSpa outlet situated within the John F. Kennedy International Hair Careport in New York City. As such innovations become more widespread, they will attract new clientele and rejuvenate the interest in professional beauty services, ultimately driving market growth.
 

Professional Beauty Services Market Analysis

Based on services, the market is divided into skin care, hair care, nail care, and others. The skin care segment holds around 35% market share in 2022. The introduction of new skincare products is driving the skin care segment growth within the professional beauty services market. Innovative skincare formulations including serums, masks, and specialty treatments are creating the demand for professional expertise to guide consumers in effectively selecting & using these products. For instance, in September 2023, OLIVIAUMMA LLC unveiled its latest addition in the Korean skincare market with the launch of the company’s Glass Skin Tanghulu brand. Tanghulu, a sugar-coated fruit-resembling glass, is currently a sensation in South Korea. Additionally, these products often require specialized application techniques, making professional services essential for generating optimal results and ensuring a lucrative market for skincare services.
 

Based on gender, the professional beauty services market is categorized into male and female. The female segment holds around 79% in 2022 and is projected to grow through 2032. The influence of social media and beauty influencers has been a significant factor driving women's engagement in professional beauty services. Through platforms including Instagram, YouTube, and TikTok, influencers showcase the latest beauty trends, product reviews, and transformations. This exposure encourages women to experiment with various treatments & services to achieve the looks they admire, thereby leading to the increased demand for professionals who can help them achieve these beauty goals. The visual nature of social media makes it a powerful tool for promoting beauty services and fostering consumer interest.
 

North America led the global professional beauty services market in 2022, accounting for a major share of over 32%. The dominance of the U.S. within the North America market can be attributed to its large consumer base and robust economic strength. With a diverse population, the U.S. caters to a wide spectrum of beauty needs & preferences; this is fostering market growth. A strong & stable economy provides consumers with the financial capacity to invest in a plethora of professional beauty services and premium beauty products. This vast & varied demographic landscape, coupled with economic affluence, is benefiting the growth of beauty businesses, thereby making the U.S. a pivotal player in the North American professional beauty services industry.
 

Professional Beauty Services Market Share

The major players operating in the professional beauty services market are:

• Drybar
• Fantastic Sams
• Gina Conway Salons & Spa
• Lakme Salon
• L'Oréal Professional
• Regis Corporation
• Seva Beauty
• Sport Clips
• The Lash Lounge
• Toni & Guy
• Trevor Sorbie

Competitive analysis of the market comprises the evaluation of competitor offerings, pricing, customer base, market shares, and strategies for decision-making and maintaining competitiveness.
 

Professional Beauty Services Industry News:

• In June 2023, Estee Lauder launched the Responsible Store Design Program, which will augment the environmental targets and engage with consumers in retail sustainability. It was created in collaboration with a sustainability consulting firm that specializes in green building design and is subject to third-party review to ensure credibility & precision.
   
• In April 2022, Regent LP, a global private equity company, acquired all the remaining Drybar shops owned by Drybar Holdings through an affiliated entity. Through this deal, Regent took control of 57 Drybar shops; this solidified its position as Drybar's leading franchisee under WellBiz Brands, the franchisor of Drybar.
   

The professional beauty services market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD billion) from 2018 to 2032, for the following segments:

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By services, 2018 – 2032

• Skin care
  • Make Up Services
  • Waxing
  • Facial & Cleanups
• Hair care
  • Haircut
  • Hair Coloring
  • Hair Styling
• Nail care
  • Manicure
  • Pedicure
  • Nail Extensions
• Others

By gender, 2018 – 2032

• Male
• Female

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Italy
  • Germany
  • Netherlands
  • France
  • Poland
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Southeast Asia 
• Latin America
  • Brazil
  • Mexico
  • Argentina
• MEA
  • UAE
  • South Africa
  • Saudi Arabia