Americas Spas and Beauty Salons Market to Develop at CAGR of 7.01% During Forecast Period, Notes TMR Study
- Women are more inclined to spend on grooming services, which is likely to bolster the growth of the spas and beauty salons market in the Americas during the forecast period
- Increase in consumers' spending capacity and disposable income in the Americas are expected to boost market development
ALBANY, N.Y., March 29, 2022 /PRNewswire/ -- The Americas spas and beauty salons market was worth more than US$ 116.31 Bn in 2020. The market is expected to rise at a CAGR of 7.01% during the forecast period, from 2021 to 2031. The Americas spas and beauty salons market is likely to cross the mark of US$ 244.52 Bn by 2031. One of the primary factors propelling the spas and beauty salons business in the Americas is the increasing percentage of working women. Women are more inclined to expend money on grooming services, which is predicted to foster the growth of the Americas spas and beauty salons market during the forecast period.
Consumer demand for spas and beauty services has increased, as spending capacity and disposable incomes have also increased. Anti-aging, massage, facial, waxing, skin lightning, and tan removal treatments are growing increasingly popular among American customers. People in the Americas, particularly women, are making attempts to enhance their looks. This aspect is likely to drive the Americas spas and beauty salons market, resulting in lucrative growth prospects for beauticians as well as service providers. Companies in the Americas spas and beauty salons market are focused on service improvements to gain a competitive advantage in the market.
The market for spas and beauty salons in the Americas is expected to be dominated by North America. Due to significantly greater consumer concerns about personal presentation and lifestyles, the spa and beauty salon business has witnessed tremendous expansion in the recent years. Growing consumer understanding and appreciation of the benefits of spa and beauty salon services is also estimated to drive the market in the Americas.
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Key Findings of Market Report
· Based on type, spa accounts for a significant share of the spas and beauty salons market in the Americas, as well as a high growth rate. Integration of the digital technology in devices generates an Internet-enabled environment that benefits home lifestyles. This aspect is expected to raise demand for the market during the forecast period.
· In terms of end-users, the women category is estimated to dominate the market in terms of growth and market share. Spas and beauty salons are in high demand due to the steadily increasing number of working women. Monthly household incomes have risen. Women in the Americas have more spending power and higher standard of life, resulting in increasing spending on personal grooming services. This aspect is likely to drive the Americas spas and beauty salons market during the forecast period.
· Modernization as well as hectic schedules are two of the important factors estimated to drive market expansion. Spa and beauty salon services are becoming more popular among American consumers. Due to increasing disposable incomes, changing lifestyles, and higher spending capability on personal grooming, consumers are more inclined to spend on these services. Relaxation treatments, waxing, skin treatments, hair treatments, body massage, and other such services that are in high demand in the market. This trend is likely to continue during the forecast period.
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Americas Spas and Beauty Salons Market: Growth Drivers
- New procedures and therapies are being used by spas and beauty salons throughout the Americas to meet rising client demands. In order to strengthen their training programs, certain spas and beauty salons have embraced international standards. Additionally, employee training is offered to raise industry standards and improve service quality, which is likely to fuel the overall growth of the market in the forthcoming years.
- Rising popularity of spas and beauty salon services can be attributed to the growing consumer demand for different therapeutic massage treatments that relieve tension and give immediate relaxation to the mind and body. This factor is likely to bolster growth of the market in the Americas.
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Americas Spas and Beauty Salons Market: Key Players
Some of the key market players are
- Butterfly Studio Salon & Spa
- Metodo Rossano Ferretti Salon
- Muse Salon & Spa LLC.
- Robert James Salon and Spa
- Bradley & Diegel Salon
- John Barrett Salon
Americas Spas and Beauty Salons Market: Segmentation
Product
- Spas and Beauty Salons
- Accessories
Surgery
- Minimally Invasive Surgery
- Open Surgery
Type
- Spa
- Beauty Salon
End User
- Men
- Women
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