Hair and Beauty Salons Market Size (2024 – 2030)

The Global Hair and Beauty Salons Market was valued at USD 231.93 billion and is projected to reach a market size of USD 384.78 billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 7.5%.

The Hair and Beauty Salons industry encompasses various services related to hair care, skin care, nail care, and other overall beauty treatments. The Hair and Beauty Salons Market is influenced by changing fashion trends, consumer preferences, and economic factors. The Hair and Beauty Salons Market is expected to grow significantly in the coming years due to increasing focus on personal grooming and beauty. The major well-established key players in the Hair and Beauty Salons Market are L'Oréal, Procter & Gamble, Estée Lauder, Coty, and RevlonTop of Form.

Key Market Insights:

Changing consumer preferences, rising disposable income, beauty and wellness trends, technological advancements, and increased demand for personalized beauty products are propelling the Hair and Beauty Salons Market. The restraints on the Hair and Beauty Salons Market include intense competition, labor shortages, changing consumer trends, online competition, technological disruption, and consumer price sensitivity.

North America occupies the highest share of the Hair and Beauty Salons Market. North America is a technologically advanced region with a mature and well-established beauty industry with a high concentration of salons, spas, and beauty professionals. Asia-Pacific is the fastest-growing segment during the forecast period. Beauty and skincare innovations, influenced by traditional Asian beauty rituals, are gaining popularity both regionally and globally.

Hair and Beauty Salons Market Drivers:

Changing Consumer Preferences drive the demand for Hair and Beauty Salons Market.

Consumers are increasingly seeking beauty and haircare products with natural and organic ingredients. This is driven by a desire for safer and environmentally friendly options. This trend prompted many beauty brands to reformulate their products. This emphasizes plant-based and sustainable ingredients. There is growing awareness of animal rights which leads to a high demand for cruelty-free and vegan beauty products. Brands that commit to ethical practices, excluding animal-derived ingredients, appeal to consumers who prioritize these values. Environmentally conscious consumers are favoring beauty brands that adopt sustainable practices in their packaging, sourcing, and production processes. The reduction of single-use plastics, recyclable packaging, and eco-friendly initiatives contribute to a positive brand image. This attracts environmentally conscious consumers.

Technological Advancements are propelling the Hair and Beauty Salons Market.

The beauty industry embraced AR technology, allowing consumers to virtually try on makeup and hair products before making a purchase. This enhances the online shopping experience. This provides a more interactive and personalized way for customers to choose products that suit their preferences. Beauty brands are using data analytics to offer personalized skincare and haircare solutions. Analyzing individual skin types, concerns, and preferences enables companies to recommend customized products. This enhances the effectiveness of beauty routines and fosters customer loyalty. The rise of online platforms for beauty consultations and advice has also become more prominent. Virtual consultations with beauty experts, influencers, and dermatologists provide consumers with personalized recommendations. This creates a seamless bridge between online and offline beauty experiences.

Hair and Beauty Salons Market Restraints and Challenges

The major challenge faced by the Hair and Beauty Salons Market is the labor shortages of skilled stylists, beauticians, and other professionals. This can affect the quality and availability of services. Another challenge is the Hair and Beauty Salons Market is intensive competition. The industry is highly competitive, with numerous salons. The competition can lead to price variations and the need for differentiation to stand out. The other restraints to the Hair and Beauty Salons Market include Economic downturns, changing consumer trends, regulatory compliance, online competition, pandemic impact, sustainability concerns, technological disruption, and consumer price sensitivity

Hair and Beauty Salons Market Opportunities:

The Hair and Beauty Salons Market has various opportunities in the market. Leveraging social media and online platforms helps enhance visibility, engage with customers, and attract new consumers. Incorporating advanced technologies like virtual consultations, augmented reality for virtual try-ons, and online booking systems enhances customer experience. Expanding services to include wellness offerings like spa treatments, massage therapy, and holistic beauty experiences can create great opportunities. Other Opportunities in the Hair and Beauty Salons Market include Digital marketing, specialized services, wellness integration, technology adoption, sustainability practices, membership programs, education and training, product retailing, collaborations, and well-being experiences.

HAIR AND BEAUTY SALONS MARKET REPORT COVERAGE:

Hair and Beauty Salons Market Segmentation: By Service Type

• Haircare services

• Skincare and spa treatments

• Nail care services

• Bridal and special event services

• Others

In 2023, based on market segmentation by Service Type, Haircare services occupy the highest share of the Hair and Beauty Salons Market. Hair services are fundamental and commonly sought by a broad consumer base. Haircare services, including haircuts, styling, coloring, and treatments.

However, skincare and spa treatments are the fastest-growing segment during the forecast period and are projected to grow at a CAGR of 15%. This is due to an increasing trend toward holistic beauty and wellness, with consumers seeking skin care services, facials, and spa treatments for relaxation and rejuvenation.

Hair and Beauty Salons Market Segmentation: By Occasion

• Regular grooming and maintenance

• Special occasions (e.g., weddings, parties)

• Seasonal trends (e.g., holiday makeovers)

In 2023, based on market segmentation by Occasion, the regular grooming and maintenance segment occupies the highest share of the Hair and Beauty Salons Market. This is mainly due to routine services like haircuts, styling, coloring, and skincare maintenance that customers seek on an ongoing basis.

However, special occasions are the fastest-growing segment during the forecast period. This is mainly due to the increasing number of special events or functions. People increasingly invest in their appearance for significant events such as weddings, parties, and other celebrations. Thus demand for specialized beauty and hair services tends to surge.

Hair and Beauty Salons Market Segmentation: By End-User

• Male

• Female

• Children

In 2023, based on market segmentation by End-User, the Female segment occupies the highest share of the Hair and Beauty Salons Market. This is because females generally seek a wide range of services from haircuts and coloring to skincare and spa treatments. Women traditionally comprise a significant portion of salon clients.

However, the male segment is the fastest-growing segment during the forecast period. This is mainly due to the increased awareness of personal appearance and grooming and changing societal norms. There is a noticeable shift in recent years with more men availing themselves of salon services, including grooming, hair care, and skincare.

Hair and Beauty Salons Market Segmentation: Regional Analysis

• North America

• Asia-Pacific

• Europe

• South America

• Middle East and Africa

In 2023, based on market segmentation by region, North America occupies the highest share of the Hair and Beauty Salons Market. It has a market share of 45%. This growth is due to a well-established beauty industry, high consumer spending on personal care, a culture that values grooming and wellness, and sustainability and eco-friendly practices. Countries especially the United States, have a mature Hair and Beauty Salons Market due to a high preference for beauty standards, and a focus on overall wellness. There is a strong market for premium and luxury salon services. Technological advancements, such as online booking platforms and virtual consultations, are also increasingly integrated into salon services.

However, Asia-Pacific is the fastest-growing segment during the forecast period. This is mainly due to rapid urbanization, rising disposable income, changing beauty standards, and a growing awareness of personal care. Countries like China, India, Japan, and South Korea, have significant market share due to increasing demand for beauty and grooming services.E-commerce and online beauty platforms are witnessing rapid growth.

COVID-19 Impact Analysis on the Global Hair and Beauty Salons Market:

The COVID-19 pandemic had a significant impact on the Hair and Beauty Salons Market. There were lockdowns, social distancing, and other safety restrictions and protocols. Disruptions in the supply chain impacted the availability and distribution of beauty products used in salons. Hair and beauty salons globally experienced temporary closures or disruptions as part of lockdown measures. Salons had to implement hygiene and safety measures, including sanitization protocols, personal protective equipment, and reduced capacity, affecting operational efficiency. Consumers shifted towards at-home beauty and grooming solutions. This impacted the demand for in-person salon services. The pandemic accelerated the adoption of digital tools and platforms, with salons exploring online booking systems, virtual consultations, and e-commerce for product sales.

Latest Trends/ Developments:

Customization and Personalization are the latest trends. There is a rising demand for personalized services and product recommendations based on individual preferences, skin types, and hair conditions. There is a growing emphasis on sustainability with salons adopting eco-friendly practices, such as using sustainable products, reducing waste, and implementing energy-efficient measures. Extensive use of digital marketing strategies and collaborations with influencers can reach a wider audience and enhance brand visibility. Increasing use of technology, including online booking systems, virtual consultations, and augmented reality for virtual try-ons, enhances the overall customer experience.

Key Players:

1. L'Oréal SA

2. Procter & Gamble Co.

3. Estée Lauder Companies Inc.

4. Coty Inc.

5. Revlon Inc.

6. Shiseido Company, Limited

7. Sally Beauty Holdings, Inc.

8. Regis Corporation

9. Ratner Companies

10. Great Clips, Inc.

Market News:

• In a 2023 collaboration, Rihanna’s cosmetic brand Fenty Beauty joined forces with Heytea in China, leveraging a Weibo lottery system. The successful partnership targeted young, lifestyle-focused females, capitalizing on Heytea's strong fanbase and achieving over 14 million views and 30,000 comments on Weibo. This dynamic duo exemplifies the importance of brand fit and shared audiences for impactful collaborations.

• In June 2023, Godrej Professional, a leading hair brand, teamed up with Hair and Beauty Show India 2023, showcasing its 'Dimension-Ombreyage Collection.' The collaboration, emphasizing inclusivity and self-expression, brought together salonists, beauty professionals, and enthusiasts for a two-day creative event, aiming to transform the industry through education and innovation.