According to a recent analysis by Fact.MR, a supplier of market research and competitive intelligence, the Global Professional Beauty Services Market is anticipated to reach US$ 242.9 billion in 2022 and grow at a CAGR of 4.7% from 2022 to 2032. Because of advances in technology and an increasing worldwide average age, the industry is expected to expand.
The world’s population is ageing. The average age of the global population has dramatically increased over the past few decades due to governments’ one- and two-child policy in many nations, as well as an improvement in life expectancy rates.
As the world is becoming older, the need for professional beauty services is increasing and it is expected to continue to witness solid demand in the future also. People in the age bracket of 35 and above tend to spend more on beauty products/services. Like any other industry, the beauty industry also has not remained untouched by technology. Integration of technology has improved the service offerings by market players and has also benefitted end users with personalized solutions.
Key Takeaways from Market Study
Market Development
Prominent professional beauty service providers are
The beauty industry continues to reflect a rollup despite extreme competition among major players. Market players are also integrating technology into their service offerings to capture a higher market share.
Segmentation of Professional Beauty Services Industry Research
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