September 08, 2022 09:19 ET | Source: Facts & Factors Facts & Factors
NEW YORK, US, Sept. 08, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Spas and Beauty Salons Market By Type (Spas and Beauty Salons), and By Region: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecast 2020–2026” in its research database.
“According to the latest research study, the demand of global Spas and Beauty Salons Market size & share was valued at approximately USD 144.48 Billion in 2019. The market is expected to grow above a CAGR of 6% and is anticipated to reach over USD 217.25 Billion by 2026.”
The report analyses the Spas and Beauty Salons market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global Spas and Beauty Salons market.
What are Spas and Beauty Salons? How big is the Spas and Beauty Salons Industry?
The spas and beauty salons provide beauty and personal care products and services for both men and women. In the modern world, the adoption of spas and beauty salons is increasing owing to the rising demand for wellness solutions to reduce stress from the hectic lifestyle. The spa professionals and beauticians present in the spas and beauty salons give advice and information related to skin and hair, which is another factor propelling the market growth.
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Key Insights from Primary Research
The report contains qualitative and quantitative research on the global Spas and Beauty Salons Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.
Some of the main players in the global Spas and Beauty Salons market include;
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The growing modernization and busy lifestyle are the primary reasons fuelling the development of the global Spas and Beauty Salons market. Additionally, the high standard of living and growing disposable income help consumers opt for such services to help rejuvenate their skins and reduce stress, thereby boosting the market growth. The rising demand for natural or herbal products to keep the body healthy is estimated to expand this market further.
Apart from this, the growing inclination toward personal appearance among the teenagers and geriatric population and the availability of new spa technologies is anticipated to bolster the expansion of the global Spas and Beauty Salons market. The consumers’ focus toward gaining peace of mind, pleasure, and fitness helps propagate the market. However, the expensive beauty and spa products and costly services limit the advancement of the concerned market.
Resort and hotel spas category is estimated to exhibit the highest CAGR owing to the rise in tourism, frenetic lifestyles in cosmopolitan areas, and escalation in customer expenditure on beauty and wellness products. The recreational facilities such as a swimming pool offered by the resort and hotel spas to the customers also help boost the progression of the category.
The growing demand for complex skin care treatment among the population especially teenagers and geriatric folks is the major factor propelling the evolution of the facials and skin care salon on a global level. Additionally, the busy lifestyle and high demand for personal care among the consumers are projected to bolster the expansion of the Spas and Beauty Salons market.
North America is projected to lead the global Spas and Beauty Salons market during the forecast period. The market growth is attributed to the escalating consumer worries over personal appearance and changing lifestyle. In addition to this, the growth in the Spas and Beauty Salons market is contributed to the changing consumer perception about beauty salons and spas services. The adoption of international standards and new techniques & therapies for refining the training programs to meet up to the growing consumer needs is likely to drive the global Spas and Beauty Salons market.
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Key questions answered in this report:
The global Spas and Beauty Salons market is segmented as follows:
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