Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) -- The "Global Professional Beauty Services Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global professional beauty services market is expected to grow from $198.84 billion in 2022 to $213.4 billion in 2023 at a compound annual growth rate (CAGR) of 7.3%. The professional beauty services market is expected to reach $273.36 billion in 2027 at a CAGR of 6.4%.
The industry's expansion can be attributed to the burgeoning beauty and cosmetics sector, which is a kaleidoscope of products, services, and related activities; from skincare and color cosmetics to hair care, fragrances, salons, and day spas. Professional beauty service providers are integral to this ecosystem, offering expert care in facials, nail services, and makeup applications.
Technological Advancements: A Catalyst for Market Innovation
As revealed in the report, technological advancements are revolutionizing the professional beauty services market. Cutting-edge technologies are being harnessed by leading players, which is evident from initiatives such as the launch of an AI-powered beauty app by The Estée Lauder Companies, designed to assist visually impaired users with makeup application through voice teaching technology.
Regional Market Insights
The comprehensive analysis covers diverse geographical regions, featuring insights into market trends. North America leads the professional beauty services industry, while Asia-Pacific is poised for rapid growth during the forecast period. This segment of the report highlights the potential in these dynamic regions and the entrepreneurial activities shaping their markets.
Key Market Participants and Strategic Movements
The document examines the landscape of major players in the market, inclusive of beauty giants like L'Oréal Group, Ulta Beauty Inc., and many others. Strategic market activities such as Henkel's acquisition of Shiseido Company Limited's professional hair business are discussed, illuminating how such movements are consolidating market positions.
- Hair Care Services
- Skincare Services
- Nail Care Services
- Makeup and Cosmetics Services
- Spa and Wellness Services
These service platforms cater to a diverse clientele, including all gender groups and age demographics, highlighting the extensive range of professional beauty services available across the globe.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $213.4 billion |
| Forecasted Market Value (USD) by 2027 | $273.36 billion |
| Compound Annual Growth Rate | 6.4% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes
- L'Oreal Group.
- Ulta Beauty Inc.
- Sephora
- Beiersdorf AG
- Sally Beauty Holdings Inc.
- Matrix
- Fantastic Sams Holding Corp.
- Great Clips Inc.
- The Lash Lounge
- Faire Wholesale Inc.
- Regis Corporation
- Paula’s Choice LLC
- Toni & Guy
- Drybar LLC
- Tatcha LLC
- Floyd's 99 Holdings LLC
- Dermalogica
- Mamaearth
- Tommy Gun's Original Barbershop
- Kerastase
- Ouai
- Kut N Beauty Salon & Supply
- Redken
- La Roche-Posay
- Sport Clips Inc.
- SkinCeuticals
- Living Proof
- Maxx Beauty Supply
- HOME SALON
- Lakme Salon.
For more information about this report visit https://www.researchandmarkets.com/r/p738uv
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