New York, NY, July 06, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Spas and Beauty Salons Market by Type (Spas and Beauty Salons) and by Region (North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa): Global Industry Perspective, Comprehensive Analysis, and Forecast 2017-2024’’. 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.

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.

Browse through 16 Tables & 15 Figures spread over 110 Pages and in-depth TOC on "Global Spas and Beauty Salons Market Size 2017: Industry Share, Trends Statistics Analysis, and Forecast, 2024”.

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The rising demand for healthy and standard lifestyles is one of the important factors fueling the growth of the market. The various types of spas offered to the consumers include medical spas, day spas, mineral spring’s spas, mud baths, and ayurvedic spas, among other types. The products used in the salons or spas can be made from natural and synthetic ingredients amalgamated with other herbal products or substances to keep the body healthy. The increasing disposable income, growing focus towards personal appearance, and availability and use of advanced techniques in spa technology are expected to boost the growth of global spas and beauty salons market.

Owing to the availability of personalized services, countries such as the U.S., France, Germany, the UK, and Japan are among the top contributors to the spas and salon market in terms of revenue and operations. The high adoption rate of spas and salons services by teenagers are also triggering the growth of this market. The geriatric population is also opting for these services keeping in mind the benefits offered by the spas and salons market such as pleasure, peace of mind, and fitness to its end users. The factor hindering the growth of this market is the high cost of skilled professionals operating in spas and salon industry. The expensive products, solutions, and services costs charged by the spa and salons also limit the growth of the spas and salon market. The launch of customized products and technological innovations in the spas and beauty salons industry is expected to offer tremendous opportunities in this market.

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Europe is expected to hold the highest market share in the forecast period in global spas and beauty salons market owing to rising tourism industry and growing demand from middle-income groups. Eastern European countries and Baltic countries are contributing significantly to the European tourism business. This is expected to promote the growth for hotel and resort spas and destination spas segment revenue in this region. Whereas the Middle East and Africa, regions are anticipated to observe highest CAGR development in the coming years owing to the continuously growing tourism rate in the region. In August 2017, Indian beauty and wellness brand VLCC and Saudi conglomerate Cigalah Group signed a partnership worth Dh30 million, to open six wellness centers in the kingdom of Saudi Arabia in next three years.

The Asia Pacific is projected to be among the fastest growing region during the forecast period, owing to the young population who prefers to invest in health and wellness services, personal appearance, and activities offering peace of mind and relieving stress. Owing to increasing migration of rural population to metropolitan cities and rising disposable income of people, countries such as China, Japan, and India are expected to be the leading adopters for spas and beauty salons services in this region.

Browse the full "Spas and Beauty Salons Market by Type (Spas and Beauty Salons), by Region (North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa): Global Industry Perspective, Comprehensive Analysis, and Forecast 2017-2024" report at 

North America region is expected to hold a significant share of the overall market in terms of revenue due to increasing adoption of beauty salon services and products by individuals and professionals in salons and spas. Changing lifestyles of the urban population and increasing health and skin problems of geriatric population in the region is fueling the growth of global spas and beauty salons market. The United States is home to some of the largest multinational companies operating in the spa and beauty sector globally, thus numerous companies are focusing on partnerships, investing in research and development activities to come up with advanced and innovative products and services. For instance, L’Oreal USA acquired Maly's Midwest and Marshall salon services, which helped the company to extend its coverage of American hair salon centric services to its customers.

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The major players operating in the global spas and beauty salons market are Metropolis Salon & Dry Bar, The Roose Parlour and Spa, Butterfly Studio Salon & Spa, Robert James Salon and Spa, Muse Salon & Spa LLC, Metodo Rossano Ferretti Salon, Paul Labrecque Salon & Spa, Madeline Wade, and Salon U, among others.

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The report segments global spas and beauty salons market as follows:

Spas and Beauty Salons Market: Type Segment Analysis

  • 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

Spas and Beauty Salons Market: Regional Segment Analysis

  • 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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