Spas and Beauty Salons Market by Type (Spas and Beauty Salons), by Region (North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa): Global Industry Perspective, Comprehensive Analysis, and Forecast 2017-2024
Sarasota, FL -- (SBWIRE) -- 02/15/2019 -- With the presence of a large pool of participants, the global spas and beauty salons market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Metropolis Salon & Dry Bar, The Roose Parlour and Spa, Butterfly Studio Salon & Spa, Robert James Salon and Spa, Muse Salon & Spa LLC are some of the key vendors of spas and beauty salons across the world. These players are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the spas and beauty salons market study.
Citing an instance, in August 2018, Sunnyside Spa and Salon Fest launched deals on beauty & personal care services.
As estimated in this report, the global spas and beauty salons market stood at US$ 128.59 billion in 2017. Witnessing a tremendous rise during the period from 2018 to 2024, the revenue in this spas and beauty salons market is expected to reach US$ 190.81 billion by the end of the forecast period. The main types available in this spas and beauty salons market are spas and beauty salons.
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Enlarged Focus On Personal Appearance To Boost Market Size
"Growing focus on personal appearance and rise in disposable incomes along with the implementation of novel methods in spa technology are predicted to boost spas and beauty salons market trends," says the author of this study. Apart from this, spas and beauty salons market is expected to gain traction in the years ahead as a major chunk of urban population prefers spa and salon services that aid them in rejuvenating & relaxing from their hectic schedules. In addition, escalating demand for healthy and standard life patterns is one of the key factors propelling the scope of spas and beauty salons market. High acceptance of spas and salon services among teenage population is expected to generate lucrative demand for the industry in the years ahead.
High cost of skilled professionals along with exorbitant product and service costs, however, are projected to inhibit the expansion of spas and beauty salons market in the near future. Nevertheless, launching of customized products & technological innovations in spas & beauty salons are predicted to provide lucrative avenues for the business over the years ahead.
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Wide Acceptance Of Products To Support North America Maintain Dominance
Regionally, North America has been leading the worldwide spas and beauty salons market and is anticipated to continue on the dominant position in the years to come, states the spas and beauty salons market study. Rising acceptance of beauty salon products & services by professionals as well as individuals is the main factor behind the dominance of the North America spas and beauty salons market. The large number of market players headquartered in North America focusing on strategic alliances, R&D activities, and introduction of new products & services is another significant factor that is supporting this regional spas and beauty salons market. In addition, rapidly altering lifestyles of the urban population base and massively rising health & skin problems of geriatric population in the region is anticipated to drive expansion of spas and beauty salons market size.
The rising demand for healthy and standard lifestyles is one of the important factors fueling the growth of the market. The various types of spas offered to the consumers include medical spas, day spas, mineral spring's spas, mud baths, and ayurvedic spas, among other types. The products used in the salons or spas can be made from natural and synthetic ingredients amalgamated with other herbal products or substances to keep the body healthy. The increasing disposable income, growing focus towards personal appearance, and availability and use of advanced techniques in spa technology are expected to boost the growth of global spas and beauty salons market.
Owing to the availability of personalized services, countries such as the U.S., France, Germany, the UK, and Japan are among the top contributors to the spas and salon market in terms of revenue and operations. The high adoption rate of spas and salons services by teenagers are also triggering the growth of this market. The geriatric population is also opting for these services keeping in mind the benefits offered by the spas and salons market such as pleasure, peace of mind, and fitness to its end users. The factor hindering the growth of this market is the high cost of skilled professionals operating in spas and salon industry. The expensive products, solutions, and services costs charged by the spa and salons also limit the growth of the spas and salon market. The launch of customized products and technological innovations in the spas and beauty salons industry is expected to offer tremendous opportunities in this market.
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The spas and beauty salons market is segmented based on type and region. Type segment is categorized into spas and beauty salons. The spas segment is further bifurcated into day spas, club spas, medical spas, destination spas, mineral spring spas, and resort and hotel spas. Hair salon, waxing salon, nail salon, tanning salon, facials and skin care salon, and a full-service salon are the sub-segments included in beauty salons segment. Regional segmentation of the global spas and beauty salons market includes North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa with further country wise bifurcation into major countries such as the U.S., the UK, France, Germany, China, Japan, India, and Brazil.
The major players operating in the global spas and beauty salons market are Metropolis Salon & Dry Bar, The Roose Parlour and Spa, Butterfly Studio Salon & Spa, Robert James Salon and Spa, Muse Salon & Spa LLC, Metodo Rossano Ferretti Salon, Paul Labrecque Salon & Spa, Madeline Wade, and Salon U, among others.
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The global spas and beauty salons market is segmented as follows:
Mineral Springs Spa
Resort and Hotel Spas
Facials and Skin Care Salon
The Middle East and Africa