Salon Services Market

• Rising popularity of online appointment booking platforms is driving the market growth.

Market CAGR for salon services is being driven by the rising popularity of online appointment booking platforms. These digital tools have revolutionized the way customers interact with salons and have become a game-changer for the salon services industry. Online appointment booking platforms offer convenience to customers. Clients can easily browse through salon services, check real-time availability and book the appointments at their convenience, 24/7. This convenience factor encourages more people to schedule salon visits, ultimately increasing the demand for salon services.

The Global Salon Services Market Industry is experiencing growth driven by rising disposable incomes across various demographics. As individuals have more financial resources, they are increasingly willing to spend on personal grooming and beauty services. This trend is particularly evident in emerging economies, where a burgeoning middle class seeks to enhance their lifestyle through salon services. For instance, the market is projected to reach 232.8 USD Billion in 2024, reflecting a growing consumer base that prioritizes self-care. This increase in spending power is likely to contribute to the overall expansion of the Global Salon Services Market Industry.

By region, the study gives market insights into the North America, Europe, Asia-Pacific and the Rest of the World. The North American Salon Services market area dominates the market because the growing popularity of massage & nail treatment facial-related services encourages international players to enter the North American market. Further, the region is often at the forefront of beauty and fashion trends, and the presence of a diverse population in this region, having a wide range of hair types, skin tones and beauty needs, is boosting the market growth.

Further, the prime countries studied in the market report are The US, Canada, Germany, France, the the UK, Italy, Spain, Japan, China, India, Australia, South Korea, and Brazil.

Figure 2: SALON SERVICES MARKET SHARE BY REGION 2022 (USD Billion)

Source: The Secondary Research, Primary Research, Market Research Future Database and Analyst Review

Europe's Salon Services market accounts for the second-largest market share as the region benefits from a well-established network of beauty schools and training centers and continuous adoption of emerging trends and innovations. Further, the German Salon Services market held the largest market share, and the UK Salon Services market was the rapid-growing market in European region.

The Asia-Pacific Salon Services Market is expected to grow at the rapid CAGR from 2023 to 2032. This is because of the rising middle class and disposable income, rapid urbanization and the presence of diverse consumer preferences. Moreover, China’s Salon Services market held the largest market share, and the Indian Salon Services market was the rapid-growing market in Asia-Pacific region.

Leading market players are investing hugely in research and development in order to expand their product lines, which will help the Salon Services market grow even more. Market players are also undertaking a variety of strategic activities to spread their footprint, with important market developments including higher investments, new product launches, contractual agreements, mergers and acquisitions, and collaboration with other organizations. To spread and survive in a more competitive and rising market climate, the Salon Services industry must offer cost-effective items.

Manufacturing locally to reduce the operational costs is one of the key business tactics utilized by manufacturers in the Salon Services industry to benefit clients and increase the market sector. In recent years, the Salon Services industry has provided some of the most significant advantages to the salon industry.

Major players in the Salon Services market, including Great Clips, Inc., Regis Corporation, Dessange International, The Lounge Hair Salon, Ulta Beauty, Inc., Seva Beauty, Drybar, Skin Rich, The Leading Salons of the World, LLC., Snip-its, Lakme Salon, Beauty Connection Spa, Kao Corporation, Original Barbershop, SalonZen, Sally Beauty Holdings, and others, are trying to increase market demand by investing in the research and development operations.

Book Salon is a salon management system designed for hair, beauty and wellness companies. In May 2022, Book Salon, a Helsinki-based SaaS technology start-up, announced intentions to spend USD 3.28 million in the development of an advanced platform for payment processing and appointment booking platform for European beauty and wellness salons. This solution is designed to change the way these businesses handle payments and appointments. Book Salon looks to streamline salon operations and enhance the client experience by offering a comprehensive platform.

This investment is a large step taken by the company, emphasizing the transformation of the European salon business with its revolutionary payment and processing and appointment booking platform.

Perfect Corp is a technology company known for its innovations in the beauty and augmented reality industries. The company specializes in developing augmented reality beauty and makeup applications that allow users to virtually try on makeup and experiment with variety of beauty looks in real-time. The company continues to innovate and expand its offerings, exploring new applications of AR technology in the beauty and retail sectors. In February 2023, Perfect Corp., a leading augmented reality beauty tech company, partnered with L’Oreal USA to launch an AR-powered virtual try-on experience for L’Oreal’s hair care products.

The experience allows users to try on different hair colors and styles using their smartphone or tablet.