Dublin, July 25, 2023 (GLOBE NEWSWIRE) -- The "Personal Care Services Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
Personal care services encompass essential day-to-day assistance for individuals who are unable to perform certain tasks independently. These services allow eligible beneficiaries to maintain their homes and communities, rather than residing in institutional settings like nursing homes.
The main types of personal care services include beauty salons, diet and weight reducing centers, spas & massage, and other personal care services. Beauty salons offer aesthetic treatments for both men and women and are categorized into mass and premium segments. These services are distributed through various channels, such as specialty retail stores, supermarkets/hypermarkets, convenience stores, pharmacies/drug stores, online retail channels, and others.
Market Growth:
The global personal care services market witnessed substantial growth, with revenues increasing from $401.96 billion in 2022 to $439.46 billion in 2023, at a compound annual growth rate (CAGR) of 9.3%. However, the Russia-Ukraine war disrupted the potential global economic recovery from the COVID-19 pandemic, leading to economic sanctions, commodity price surges, and supply chain disruptions, causing inflation across goods and services. Despite these challenges, the personal care services market is expected to grow to $610.53 billion by 2027, at a CAGR of 8.6%.
Reasons to Purchase:
- Gain a comprehensive global perspective on the market, covering 50+ geographies.
- Understand the impact of COVID-19 on the market and its response as the effects of the virus subside.
- Assess the Russia-Ukraine war's impact on agriculture, energy, and mineral commodity supply and its direct and indirect effect on the market.
- Measure the impact of high global inflation on market growth.
- Formulate regional and country strategies based on local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the market trends and drivers.
- Understand customer preferences based on the latest market shares.
- Benchmark performance against key competitors.
- Utilize reliable, high-quality data and analysis to support internal and external presentations.
Companies Covered:
The report includes major companies operating in the personal care services market, such as Fantastic Sams, Weight Watchers International Inc., Tivity Health, Regis Corporation, Jenny Craig Inc., Bosley Inc., Norwegian Cruise Line Holdings, Hair Cuttery, Bijin Salon Spa, and Great Clips.
Geographic Coverage:
The report covers the personal care services market in regions like Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. It includes countries such as Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam.
Drivers of Market Growth:
Population aging is expected to drive the personal care services market as the number of people over 65 is projected to increase by 18% during 2018-2022, reaching approximately 650 million globally. With a growing focus on healthy lifestyles among the geriatric population, there will be an increased demand for personal care services, particularly spa and massage services.
Organic Products in Demand:
Beauty salons are catering to the rising demand for healthy products by incorporating organic options. These organic products are made from natural or organic ingredients without harmful chemicals, making them more accessible and affordable to customers. The organic personal care market is anticipated to grow at a CAGR of 10% to reach $25 billion by 2025, indicating significant potential for organic salons.
The "Personal Care Services Global Market Report 2023" provides strategists, marketers, and senior management with the critical information they need to assess the market. The report offers insights into market characteristics, size, growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends, and strategies.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 300 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $439.46 billion |
| Forecasted Market Value (USD) by 2027 | $610.53 billion |
| Compound Annual Growth Rate | 8.6% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/hw10ug
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