Professional beauty services refer to various specialized services that offer a variety of cosmetic treatments and services for men and women. These services are often provided in salons, spas, or other beauty facilities, by skilled and authorized members of the beauty industry.
The main types of service platforms included in professional beauty services are spas and beauty centers, dermatological and cosmetic centers, beauty institutes, and others. Hair care services refer to any work that is done to the head's natural hair or a wig that a person is wearing, including arranging, cutting, dressing, curling, waving, washing, singeing, bleaching, dyeing, tinting, trimming, styling, relaxing, perming, and straightening. They provide several services, including haircare services, skincare services, nail care services, makeup and cosmetics services, spa and wellness services, and others, to various consumer groups, such as males and females of different age groups, including those below 20 years, 20–45 years, and above 45 years. These services can be booked online and offline.
The global professional beauty services market 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
The global professional beauty services market is expected to grow from $198.84 billion in 2022 to $213.4 billion in 2023 at a compound annual growth rate (CAGR) of 7.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The professional beauty services market is expected to reach $273.36 billion in 2027 at a CAGR of 6.4%.
The expanding beauty and cosmetics industry is expected to propel the growth of the professional beauty services market going forward. The beauty and cosmetics industry refers to a sector of the economy that includes a broad range of personal goods (skincare, color cosmetics, hair care, and fragrances), services (salons and day spas), and related activities. Professional beauty service providers play a significant role in the beauty and cosmetics industry as they are trained to provide arrays of beauty services such as facials, nail care, and makeup applications. For instance, in June 2023, according to the National Hair and Beauty Federation, a UK-based trade association for hairdressing, barbering, and beauty salon owners, between March 2021 and March 2022, the number of hair and beauty firms in the UK rose by 2,215, reaching 48,425 businesses. Further, in 2020–2021, the hair and beauty sector generated $5.9 billion (£4.6 billion) in revenue. Therefore, the expanding beauty and cosmetics industry is driving the growth of the professional beauty services market.
Major players in the professional beauty services market are L'Oréal Group., Ulta Beauty Inc., Sephora, Beiersdorf AG, Sally Beauty Holdings Inc., Matrix, Fantastic Sams Holding Corp., Great Clips Inc., The Lash Lounge, Faire Wholesale Inc., 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, and Lakme Salon.
Technological advancements are a key trend gaining popularity in the professional beauty services market. Major companies operating in the professional beauty services market are adopting new technologies to sustain their position in the market. For instance, in January 2023, The Estée Lauder Companies (ELC), a US-based cosmetics company, launched its Voice-Enabled Makeup Assistant (VMA), an AI-powered beauty app for visually impaired users. When applying makeup, VMA uses voice teaching technology to help the user; they hear audio feedback and advice on whether their lipstick, eyeshadow, or foundation is applied evenly. ELC's Augmented Reality and Artificial Intelligence capabilities, created using machine learning, power VMA's innovative smart mirror technology.
In July 2022, Henkel, a Germany-based chemical and consumer goods company, acquired the professional hair business of Shiseido Company Limited for an undisclosed amount. With this acquisition, Henkel has established itself as a dominant force in the regional hair professional industry, with extreme market positions in China and Japan. Shiseido Company Ltd. is a Japan-based provider of professional beauty services and treatments.
North America was the largest region in the professional beauty services market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in professional beauty services report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the professional beauty services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The professional beauty services market includes revenues earned by entities by providing eyebrow tinting, hair smoothening, waxing, facials, threading, pedicures, and manicures. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The professional beauty services market research report is one of a series of new reports from The Business Research Company that provides professional beauty services market statistics, including professional beauty services industry global market size, regional shares, competitors with a professional beauty services market share, detailed professional beauty services market segments, market trends and opportunities, and any further data you may need to thrive in the professional beauty services industry. This professional beauty services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.