Demand for the Hair and Nail Salon industry's services expanded over the past five years amid economic growth that boosted discretionary consumer spending on personal-care products and services. Moreover, new products and services favorably impacted industry revenue. Companies have continued to enter the industry, attracted by stable profit margins and low barriers to entry. Demand for industry services is expected to continue rising over the five years to 2022 thanks to improving disposable income. Declining unemployment during the coming five-year period is expected to drive consumer spending and boost demand for price-premium personal-care services.
This industry comprises salons that primarily offer hair and nail care services. In addition to retailing beauty products, these companies may also provide facials and makeup applications. This industry does not include operators that mainly offer training in barbering or hairstyling, nor does it include electrolysis, permanent makeup application or tanning services.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.