What are the Historical Developments and Current Growth Metrics of the Professional Beauty Services Market?
The professional beauty services market has seen considerable growth due to a variety of factors.
•The market size of the professional beauty services has witnessed significant expansion in the past few years. The industry, valued at $226.47 billion in 2024, is forecasted to escalate to $241.29 billion in 2025, growing at a compound annual growth rate (CAGR) of 6.5%.
Factors driving this growth in the history include economic development, impact of social media, endorsements by celebrities, changes in cultural attitudes, and urbanization.
What Does Future Hold for The Professional Beauty Services Market Size?
The professional beauty services market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for a robust expansion of the professional beauty services market in the forthcoming years. The market is anticipated to reach a value of $313.51 billion in 2029, with a compound annual growth rate (CAGR) of 6.8%.
The projected growth during this period is linked to various factors including the emergence of the experience economy, sustainable beauty practices, inclusive beauty services, the integration of wellness, and the advent of remote beauty consultations. Notable trends during this forecast period encompass digital transformation, technological advancements, the introduction of virtual try-ons and augmented reality, the popularity of non-invasive aesthetic procedures, and enhanced safety and hygiene protocols.
What Are The Primary Growth Drivers In The Professional Beauty Services Market?
The continued growth of the professional beauty services market is anticipated to be propelled by the burgeoning beauty and cosmetics sector. This industry comprises an extensive variety of personal products such as skincare, color cosmetics, hair care, and fragrances, along with services like day spas and salons and associated activities. Those offering professional beauty services hold substantial impact in this industry owing to their specialty in delivering a range of beauty treatments like facials, nail care, and makeup application. For example, data from the UK's National Hair and Beauty Federation, a trade organisation for owners of hairdressing, barbering, and beauty salons revealed that from March 2021 to March 2022, there was an increase of 2,215 hair and beauty enterprises in the UK, totaling 48,425 businesses. Therefore, the growth of the beauty and cosmetics sector is a driving force for the professional beauty services market's expansion.
What Is The Segmentation Of The Global Professional Beauty Services Market?
The professional beauty services market covered in this report 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
Subsegments:
1) By Spa And Beauty Centers: Day Spas, Med Spas, Hair And Nail Salons
2) By Dermatological And Cosmetic Centers: Dermatology Clinics, Cosmetic Surgery Centers, Skin Care Clinics
3) By Beauty Institutes: Specialized Beauty Schools, Training Institutes For Beauty Professionals
4) By Other Service Platforms: Home Service Beauty Providers, Mobile Beauty Services, Online Beauty Consultation Platforms
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What Emerging Trends Are Shaping The Professional Beauty Services Market Landscape?
Technological progression is a significant trend escalating in the professional beauty service sphere. Prominent firms in the professional beauty service industry are leveraging novel technologies to maintain their market position. For instance, in January 2023, The Estée Lauder Companies (ELC), a cosmetics firm based in the US, unveiled its Voice-Enabled Makeup Assistant (VMA), a beauty application powered by Artificial Intelligence, designed specifically for visually challenged users. VMA assists the user with voice-guided instructions when they apply cosmetics like lipstick, eyeshadow, or foundation, providing auditory feedback and suggestions for even application. The source of VMA's pioneering smart mirror technology is ELC's Augmented Reality and Artificial Intelligence expertise, developed through machine learning.
Who Are the Key Players in the Professional Beauty Services Market?
Major companies operating in the professional beauty services market include:
• L'Oreal Group.
• Ulta Beauty Inc.
• Sephora
• Beiersdorf AG
• Sally Beauty Holdings Inc.
• Matrix
• Fantastic Sams Holding Corp.
• Great Clips Inc.
• The Lash Lounge
• 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
• Lakme Salon
What are the Regional Insights into the Professional Beauty Services Market?
North America was the largest region in the professional beauty services market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the professional beauty services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
