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The Spas and Beauty Salons Market was at US$ 152 Bn in 2021 and is growing to approximately US$ 255 Bn by 2030, with a CAGR growth of 6% between 2022 and 2030.
The Global Spas and Beauty Salons Market by 2030 was estimated at nearly USD 152 billion in 2021. As per our study, the market is anticipated to reach a value of USD 255 billion by 2030 showing a CAGR of 6%. Scrutinizing the uncertainties of the COVID-19 pandemic, our research team is constantly tracking and assessing the impact of the pandemic on the Spas and Beauty Salons market. These comprehensive insights are included in our market search report as a key market contributor.
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Spas and Beauty Salons Market: Overview
Spas and Beauty Salons are becoming more popular in the modern world as people seek wellness solutions to relieve stress from their hectic lifestyles. Spas and Beauty Salons offer men’s and women’s beauty and personal care services and products. Spa practitioners and beauticians in Spas and Beauty Salons provide advice and information about skin and hair, which is another factor driving the market growth.
Spas and Beauty Salons Market: Growth Drivers
Burgeoning modernization and a hectic lifestyle are the primary factors propelling the global Spas and Beauty Salons market. Moreover, the high standard of living and soaring disposable income motivate customers to seek such services in order to renew their skin and reduce stress, thereby propelling the market growth. This industry is predicted to grow further as there is a greater demand for herbal or natural products to keep the body healthy. Additionally, the growing desire for personal appearance among youth and the elderly population, as well as the emergence of new spa technologies, are expected to push the global Spas and Beauty Salons market.
The surging demand for Spas and Beauty Salons from a variety of end-user industries is a major factor driving market growth. The rising trend of wellness tourism, growing demand from millennials, an aging population, hectic lifestyles in urban areas, and rising spending on wellness and beauty products to relieve stress, as well as creative marketing strategies, are key factors in the worldwide Spas and Beauty Salons industry. Furthermore, shifting customer perceptions of personal care, in addition to a desire to look and feel healthy, are propelling the spa and beauty salon industry. Furthermore, they aid in the treatment of health-related problems, detoxification of the body, immune system strengthening, and weight loss.
Spas and Beauty Salons Market: Key Insights
A) As per the analysis shared by our research analyst, the Spas and Beauty Salons market is estimated to grow annually at a CAGR of around 6% over the forecast period (2022-2030). B) In terms of revenue, the Spas and Beauty Salons market size was valued at around USD 152 billion in 2021 and is projected to reach USD 255billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate. C) Based on spa service segmentation, the day spa segment was estimated to show maximum market share in the year 2021. D) Based on salon service segmentation, the skin segment was the leading revenue-generating category in 2021. E) Based on end-user segmentation, the women segment was the leading revenue-generating category in 2021. F) On the basis of geography, the North American region was the leading revenue generator in 2021.
Spas and Beauty Salons Market: Regional Landscape
The North American region is projected to dominate the global Spas and Beauty Salons market over the coming years. Consumer concerns about their personal appearance as well as changing lifestyles are associated with industry growth. Furthermore, the expansion of the Spas and Beauty Salons market is owing to a change in the perception of beauty salons and spa services by consumers.
The adoption of global standards, as well as new techniques and therapies for better training programs to meet growing client demands, are expected to propel the worldwide Spas and Beauty Salons market. Moreover, a rise in the proportion of working women, changes in lifestyle, and a strong desire to invest in self-care are all factors driving up demand for Spa and Beauty Salons in the US.
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Spas and Beauty Salons Market: Recent Development
A) June 2022: Luxury Condo Building 53 W has partnered with John Barrett Salon. Residents of 53 West 53 will have priority access to the salon’s services as a result of the partnership. B) July 2022: Calm – Salon and Spa, a holistic hub of wellness treatments and salon experiences, has opened at Novotel Visakhapatnam Varun Beach. The spa is designed for rejuvenation and self-care, with a view of the Bay of Bengal to soothe guests’ senses.
Spas and Beauty Salons Market: Key Players
Muse Salon & Spa LLC The RooseParlour and Spa Salon U Butterfly Studio Salon & Spa Metropolis Salon & Dry Bar John Barrett Salon Robert James Salon and Spa Paul Labrecque Salon and Spa MetodoRossano Ferretti Salon Madeline Wade Rossano Ferretti Chris Chase Salon Takamichi Hair Bradley &Diegel Salon Maxine Salon Marcos ProencaCabeleireiros Vasken Demirjian Salon
The Spas and Beauty Salons Market is segmented as follows:
Day spas Club spas Medical spas Destination spas Mineral spring’s spa Resort and hotel spas
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