According to the report, global spas and beauty salons market was valued at around USD 128.59 billion in 2017 and is expected to reach approximately USD 190.81 billion in 2024, growing at a CAGR of slightly above 5.80% between 2018 and 2024.

Sarasota, FL -- (SBWire) -- 02/28/2019 --With the presence of a large pool of participants, the global spas and beauty salons market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Metropolis Salon & Dry Bar, The Roose Parlour and Spa, Butterfly Studio Salon & Spa, Robert James Salon and Spa, Muse Salon & Spa LLC are some of the key vendors of spas and beauty salons across the world. These players are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the spas and beauty salons market study.

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Global spas and beauty salons market has a huge potential comprising of both men and women beauty and personal care products and services. In this modern world, consumers are in search of places offering wellness solutions and services which can relieve stress from the busy lifestyle. Spas and beauty salons market continues to gain traction because of the advice and information offered by the spa professionals and beauticians related to skin and hair when not in a salon. The major portion of the global urban population prefers spa and salon services which help to rejuvenate and relax them from the daily and hectic business life.

"Growing focus on personal appearance and rise in disposable incomes along with the implementation of novel methods in spa technology are predicted to boost spas and beauty salons market trends," says the author of this study. Apart from this, spas and beauty salons market is expected to gain traction in the years ahead as a major chunk of urban population prefers spa and salon services that aid them in rejuvenating & relaxing from their hectic schedules. In addition, escalating demand for healthy and standard life patterns is one of the key factors propelling the scope of spas and beauty salons market. High acceptance of spas and salon services among teenage population is expected to generate lucrative demand for the industry in the years ahead.

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High cost of skilled professionals along with exorbitant product and service costs, however, are projected to inhibit the expansion of spas and beauty salons market in the near future. Nevertheless, launching of customized products & technological innovations in spas & beauty salons are predicted to provide lucrative avenues for the business over the years ahead.

Regionally, North America has been leading the worldwide spas and beauty salons market and is anticipated to continue on the dominant position in the years to come, states the spas and beauty salons market study. Rising acceptance of beauty salon products & services by professionals as well as individuals is the main factor behind the dominance of the North America spas and beauty salons market. The large number of market players headquartered in North America focusing on strategic alliances, R&D activities, and introduction of new products & services is another significant factor that is supporting this regional spas and beauty salons market. In addition, rapidly altering lifestyles of the urban population base and massively rising health & skin problems of geriatric population in the region is anticipated to drive expansion of spas and beauty salons market size.

By Type

Spas
Day Spas
Club Spas
Medical Spas
Destination Spas
Mineral Springs Spa
Resort and Hotel Spas
Beauty Salons
Hair Salon
Waxing Salon
Nail Salon
Tanning Salon
Facials and Skin Care Salon
Full-Service Salon

By Region

North America
The U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa

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